MBA in Business Analytics- A Trending Career Option

31Dec,2020
By Editorial

MBA in Business Analytics is becoming one of the emerging new age specialized MBA option in India. The candidates acquire knowledge and a good grip on numerous analytical tools and ultimately implement them to collect and analyze data for the business. This course also helps in the different era of the organization, like support, database management, etc. Basically, the knowledge you gain from the course of MBA in Business Analytics will extensively utilize explanatory and predictive modeling, fact-based management, statistical and quantitative analysis, and much more.

 

Read here : Business Analytics; Top Colleges, Admission Process, Syllabus

Why A Business Analyst Is Needed?

During the past time, business analytics was conducted after visualizing the fact. Companies used to measure their sales from the distribution in a particular period of time and use that information to forecast the growth prediction of sales for the same period in the future. But now, we can influence consumer action by using business analytics in real-time.

Because of Business analysts, a company gains important competitive advantages, such as:

  • Answers based on information instead of guesswork
  • Faster answers to business questions
  • Insights into customer behavior
  • On-demand business metrics reports
  • Discovering opportunities for cross-selling and up-selling

Why Study MBA in Business Analytics course?

The two years-long programs of MBA in Business Analytics make you to understand and to learn about business metrics and delivery, performance management, data visualization, etc. This course gives students a comprehensive combination of technical and managerial coursework. It is needed for dealing with various future challenges that might be an obstacle in your success path in the data-driven global environment.

  • Business Analytics is the new form of technology that is used for almost everything that leads to solving complex business problems or simulating the growth of the organization.
  • MBA in Business Analytics gives you skills and knowledge regarding analytics along with applied and theoretical statistics ideas which are very important for job opportunities.
  • Business analytics has relevance in almost all the emerging industries like Marketing, Consultancy, Finance, Intelligence, etc
  • There is a wide range of career options, such as data analyst, data scientist, technical team leader, qualitative analyst, data mining expert.
  • A fresher having a degree of MBA in Business Analytics can start his/her job career with a great average salary package ranging between INR 8 and 16 LPA.

Due to the following reasons, this field is attracting the recruiters:

  1. You can expect a faster answer to business questions.
  2. MBA Business Analytics courses give you a deeper understanding of customer behavior.
  3. On-demand business metrics are reported to the companies.

Essential Skills For MBA in Business Analytics Specialization:-

Here are some skillsets that candidates, who are wishing to pursue an MBA in Business Management Specialization must have:

  • Teamplayer
  • Problem-solving skills
  • Analytical thinking
  • Adaptability skills
  • Leadership skills    

Top Colleges Offering MBA in Business Analytics:

Here are some of the top MBA in Business Analytics Colleges in India with their average fees, location, and annual salary package.

College Name Location Average Annual Fees (INR) Average Annual Salary (INR)
Indian Institute Of Management - [Iimb] Bangalore 23,15,000 20-25.40 LPA
NIT Trichy Tiruchirappalli 14,01,520 15-18 LPA
Indian Institute Of Management - [Iimc] Kolkata 2,70,000 23-24.54 LPA
Great Lakes Institute of Management  Chennai 16,00,000 14-20 LPA
NarseeMonjee Institute of Management Studies Mumbai 8,50,000 15-17LPA
Institute of Management, Christ University Bangalore 3,79,000 8-12LPA
Lovely Professional University Jalandhar 3,04,000 8-20 LPA
Universal Business School Karjat 15, 72,805 7-10 LPA
Pune Institute of Business Management Pune 7,95,000 6- 11 LPA
Institute of Management, Nirma University Ahmedabad 502,000 8.7-13 LPA

 

MBA Business Analytics Jobs and Career Options

  • After successful completion of an MBA in Business Analytics, you can get various jobs like Business Analyst, Data Analyst, Business Intelligence Expert, Business Analyst Project Manager, and Data Mining Expert, etc.
  • Almost all the industries such as Financial Services, Manufacturing, Retail, Healthcare, Oil and Gas, Gaming, Social Media, etc are continuously recruiting candidates from this field.
  • Some of the well-known companies are Accenture, HP, IBM, Cognizant, Tata Consultancy Services, American Express, and many more are the front line recruiter in this field.
  • A student having deep knowledge in this field can go for the leading and one of the most rapidly growing fields, Data science. There is a high demand for data scientists in the employment market. Data scientists gather the highest demand in the field of Finance and Insurance, Professional Services, and IT. 

The table below is prepared to give you a brief knowledge of various job profiles after completing MBA in Business Analytics along with the average starting salary package offered to an MBA Business Analytics fresher.

Job Profile Job Description Average Salary in INR
Data Scientist The job responsibilities of a data scientist are to utilize the analytical and to organize and solve complex problems of businesses.
They also collect statistical and data niche.
Rs15 LPA
Project Manager Project managers take the lead and manage the projects and the objectives of the project including budgets, goals, and costs, etc. Rs12 LPA 
Business Analyst The major role of a business analyst is to examine data and documents to understand consumer needs better.
They also verify the fulfillment of the internal needs of the organization.
Rs11 LPA
Statistician The job of a statistician is to apply his/her statistics to collect or organize or summarize the data collected from various sources to give useful information. Rs10 LPA
Data Mining Expert Data mining experts are responsible for creating, deploying, and maintaining the data support tools, and database files. Rs6 LPA
Quantitative Analyst The quantitative analyst helps to maximize the efficiency of trade stocks. Rs9 LPA
Market Research Analyst Market Research Analysts do a perfect survey or research about the market scenario which will help a company to grow and touch the profits at infinity. Rs8 LPA

Read also : Business Analytics Course Guide for a Lucrative Future

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