What is Business Analytics?

Business analytics is a growing field in today’s era representing the amalgamation of statistics and computer science. It gathers all the business data, statistical models, and methodologies for business insights. Business analytics combines processes, skills, and technologies based on data-driven solutions to achieve company goals. It uses vast historical data to deliver insights for the progress of business. Companies leverage business analytics tools and data to create new processes and solve anticipated risks or challenges, boosting revenues and efficiency.

Business analytics is indispensable for organizations who are seeking a competitive edge in the modern data-driven business environment. By leveraging data and analytics, companies thrive in making informed decisions, optimizing business processes, and improving overall performance. An MBA in Business Analytics helps you become a powerful asset to companies. Let’s explore more about the course!

Benefits of an MBA in Business Analysis

Since digital transformation has changed a business’s growth strategy, data literacy is one of the top priorities to stand a chance against the competition. MBA degree in Business Analytics gives professionals the necessary knowledge to excel in high-demand career opportunities. The following are the benefits of a business analysis career after an MBA:

1. A graduate degree in Business Analytics helps professionals learn business acumen to deeply understand a specific industry and its performance metrics.
2. MBA helps you connect with people from various fields and departments with unique skill sets and technical expertise. It helps you transition from working in small, composed units to cross-cultural corporations.
3. Dynamic career options help individuals climb the success ladder rapidly and dynamically, providing high compensation. Notable positions for MBA graduates include Management Analyst/Consultant, Data Analyst/Scientist, Business Intelligence Analyst, Market research Analyst, etc.
4. An MBA in Business Analytics gives high job security because this field remains in demand even when a recession occurs, a pandemic strikes, or unforeseen circumstances arise. Companies must always study their data to survive and stand out.

Job Opportunities for Business Analysts after an MBA

Professionals can choose endless job opportunities after MBA in Business Analytics, depending on their interests and experiences. Let’s explore the different roles you can pursue:

Other than these, there are several other roles that MBA graduates can pursue.

Salaries as a Business Analyst after an MBA

The salaries of MBA graduates vary per their experiences and skills. Below is the salary potential for business analysts with an MBA:

Source

Top Recruiters for Business Analytics Roles

Different businesses rely on big data and data sciences to boost their efficiency, market reaches, and sales. Below are several companies that offer advancement opportunities for business analysts after MBA:

Source

Skills Required to Be a Successful Business Analyst

The Business Analyst role is only partially based on technical or non-technical skills. Below are the skill sets necessary for a business analysis career after MBA:

1. Statistics and Probability – It helps business analysts find solutions from the data collected. Statistics analyzes past outcomes; probability helps in decision-making on the present data. Permutation combination, Bayes theorem, regression analysis, T-distribution testing, and ANOVA (analysis of variance) are required skills.
2. Programming skills – Languages like R, Python, Oracle, MySQL, MongoDB, etc., help business analysts work on database management systems. It helps create, modify, and extract data from the databases for relevant coding.
3. Data visualization – Power BI, Tableau, and Qlik sense are tools business analysts use for comprehensive visualizations, including scatter plots, time series sequences, polar area diagrams, etc.

Also read: Significance of probability and statistics in business decisions

Steps to Launch a Successful Business Analytics Career

Now that you know more about the magnificent field of business analytics, let’s learn the steps to work as successful business analysts:

• Complete class 12 with commerce specialization and complete a bachelor’s degree with 55% marks in aggregate. 
• Moreover, pursuing business analytics will be much easier if you have studied finance, accounting, or business administration.
• Supplement the bachelor’s degree with certifications, post-graduation, or MBA in business analytics.
• Graduates must be certified in technical skills and programming languages to highlight their competencies in their resumes. You can enroll in several online courses from top universities or institutions to refine your skills.
• Try to gain real-world exposure from internships in multinational corporations while studying. It helps professionals recognize the roles and responsibilities of business analysts after MBA.

Perks of Pursuing Business Analytics MBA from MAHE!

The Manipal Academy of Higher Education offers an online MBA program in Business Analytics to equip professionals and students with the necessary career skills. By learning quantitative tools like statistical analysis and programming languages, professionals can interpret data and solve organizational problems. 

We have a fantastic faculty that teaches how to master business analytics subjects with essential technical skills. Learn big data analytics, R & Python, digital and web analytics, etc., in the same course. The course fee is INR 2,60,000 (four semesters), which is INR 65,000 per semester for two years.

Conclusion

Therefore, business analytics and management are essential for running a company. Infusing data analytics within business optimizes workforce planning, talent management, etc., to retain top talents and reduce employee turnover. The importance of an MBA in Business Analytics is increasing for utilizing quantitative and statistical tools in this advancing world.