Business Analytics: Decoding the Future
Data Collection
Companies rely on data, gathered from various sources, both internal and external sources. This could be in the form of statistics, observations, graphs etc.
Business Analytics Expert
A Business Analyst decodes the data, derives conclusions from it, understands the problems, proposes solutions to the problems and works with key stakeholders to execute them.
MBA in Business Analytics
Business Analytics has garnered a lot of interest from students in recent times. Students want to take up this course to enhance their career prospects. Therefore, MBA in Business Analytics has become a popular option.
Generally, a candidate must meet the following requirements to apply for MBA in Business Analytics
Must have a graduate degree with 50% aggregate.
Candidates awaiting their final year results can apply too.
Valid scores of national entrance exams such as CAT/MAT/MRNAT Score.
Generally, candidates will study a list of compulsory and specialized subjects during their MBA in Business Analytics Programme. The following image highlights some of the prominent subjects.
Areas Open For Business Analysts
Finance
1. Creating financial models.
2. Providing advice on financial projects.
3. Carrying out financial analysis.
Information Technology
1. Communicating with top stakeholders to understand information systems and processes.
2. Improving products, software to increase profitability.
Retail
1. Analysing retail data like stock, sales, pricing etc. and help make decisions.
2. Analyzing financial results, historical trends, effects of policies implemented.
Logistics
1. Dealing with the entire life cycle of a product.
2. Ensuring smooth functioning of the business in a cost-effective manner.
Roles for Business Analysts
OTHER ROLES
BEST ROI IN THE INDUSTRY
Business Analysts can get decent salary packages based on their experience.
Freshers can expect to take home INR 3.5-6 lakhs annually.
The average salary of a business analyst can be nearly INR 8-17 lakhs.