Data and information are often compared to “oil” in this modern age. Data has become so valuable that it can significantly impact large-scale business revenues. However, this data cannot be managed automatically. The collected data needs to be assessed and analyzed from time to time to make sound business decisions. Therefore, most companies leveraging digital services to run their services must have someone on their team who’s good at utilizing obtained data and reaping valuable business insights out of it.
An MBA in Business Analytics can be perfect if you like playing around with data and implementing it to solve business problems. With expertise in handling data and generated evidence, the course will provide you with a wide array of lucrative career choices.
Let’s explore more about business analytics and its market potential!
The Importance of an MBA in Business Analytics
We live in the internet era, where internet users are constantly rising. With that, a rapid influx of data can be perceived, which holds great value if utilized in the right way. From customer interactions to website tracking via cookies, innumerable sources contribute to the daily data generation, now reaching an astonishing sum of 2.5 quintillion bytes in a day!
This is where business analytics enters the scene.
An MBA in Business analytics comprises the study of skills, methods, and visualization tools to analyze and evaluate data-driven insights while running an iterative exploration of business scenarios to combine the two for the best results. Business Analysts then use these insights to make business decisions to increase profits, customer retention, ROI (rate of inversion), etc.
As a result, the demand for expert business analysts is evergrowing. According to a US Bureau of Labor Statistics report, the market for Business analysts is estimated to grow around 14% between 2018 and 2028. An MBA in business analytics can be a sure-shot way to become a part of this growth!
By exploring diverse career options after MBA in business analytics, you can choose the field of your interest while guaranteeing a lucrative and dynamic career for yourself.
MBA in Business Analytics program: Things to Learn
Traditionally, an MBA is curated to train students into business leaders and top-level executives. It involves the fundamentals of business operations and management. In addition, you will also learn both hard and soft skills, which can help you conduct your business effectively.
Most of the classes under an MBA in Business Analytics program involve the subjects listed below:
Core MBA subjects include:
- Leadership and Entrepreneurship
- Corporate Finance
- Marketing Mix
- Business operations
- International Business
- Micro and Macroeconomics
Business Analytics subjects include:
- Data Mining
- Simulation Modeling
- Foreshadowing Business Patterns
- Enforced Regression
- Analytics System Analysis and Design
- Big Data Analytics
MBA in business analytics can be a great ladder to embark on your journey towards exploring a successful career. This course can be completed in 2 years, post which candidates will reap plenty of jobs after MBA business analytics that they can take according to their skill sets.
Career after MBA in Business Analytics
MBA in Business Analytics generally trains students with several technical data skills such as predictive analytics, statistics, and optimization. Candidates can leverage big data and improve efficiency across diverse work sectors by grasping the right business methodologies. The best business organizations always want experts who clearly understand management practices, data programming, and languages.
An MBA in Business Analytics can optimize any business by solving problems using data. Upon completing the course, you can choose from numerous job roles after MBA in business analytics. Let’s go over them below:
- Big Data Analyst
This job requires you to scourge the internet for large amounts of unstructured data, which is later analyzed, cleaned, and structured. A Big Data Analyst uses manual or automatic business analytics software, data mining, and other data extraction toolkits to look for patterns and uses the obtained key insights to deliver actionable recommendations.
If you’re seeking a data analyst role as one of your career options after an MBA in business analytics, make sure to possess a strong background in analytics and data accumulation. This role relies heavily on all sorts of data gatherers about users in a particular market. This, in turn, helps businesses spot successive trends.
Required Skills-
- Python
- Data Visualization
- SQL
- Data Mining
- Quantitative Analysis
- Hadoop
- Analytical and Problem-Solving Skills
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| Mindtree | INR 13,00,000 |
| Accenture | INR 7,90,000 |
| IBM | INR 7,30,000 |
| Cognizant | INR 7,20,000 |
| Tech Mahindra | INR 7,20,000 |
- Business Analyst
This role of a Business Analyst requires analyzing and improving the company’s day-to-day processes, including its systems and services, to align them with changing business trends. A Business Analyst observes, acknowledges, and executes improvement areas in these sectors leading to better organizational growth.
A Business Analyst’s role is one of the most in-demand jobs after MBA in Business Analytics. Expert business analysts must understand their business’s needs and how they will survive among their competitors.
Understanding a business’s requirements and how they change with time is one of the biggest challenges a business analyst endures. Let’s explore some of its most valued skills.
Required Skills-
- Statistics and probability
- Data Visualization
- Strong Aptitude for Numbers
- Communication and Negotiation Skills
- SQL
- Tableau
- Data Analysis
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| American Express | INR 14,61,273 |
| Barclays | INR 12,04,217 |
| Amazon | INR 10,98,880 |
| Zomato | INR 10,24,603 |
| Quantiphi | INR 8,50,000 |
- Chief Data Officer
Chief Data Officers, or CDOs, are bookkeepers who oversee the organization, storage, and collection of all business data. The Chief Data Officer is part of a company’s executive team, making it one of the most sought-after career options after an MBA in Business Analytics. The CDO executes all departmental functions in a large organization, like data administration.
Required Skills-
- Strategic Use of Data
- Leadership Abilities
- AI and Machine Learning
- Implementation of Data Strategies
- Data Analytics and Management
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| Morgan Stanley | INR 84,60,000 |
| Money-on-Mobile | INR 45,90,000 |
| Pulda | INR 43,20,000 |
| IDBI Bank | INR 36,00,000 |
| Credit Suisse | INR 10,70,000 |
- Human Resource Analyst
A Human Resource Analyst is often known as the HR in a firm or organization. The HR Analyst is a demanding profession next to business and marketing analysts for jobs after MBA in Business Analytics.
The Human Resource Analyst is responsible for accessing and managing all complex computer applications. These applications are trained to gather and assess all kinds of data on human resources worldwide.
Part of this profession involves access to sensitive client information, crucial to keeping businesses up and running. HR analyzes all sensitive information to help circumvent employee hostility within an organization. They are responsible for addressing all staffing problems, essential queries, and complaints lodged by employees and clients.
Required Skills-
- Analytical Skills
- Leadership
- Strong Operational Capabilities
- Data Management
- Interpersonal Skills
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| JP Morgan Chase | INR 10,70,000 |
| Target | INR 8,60,000 |
| Accenture | INR 6,40,000 |
| Morgan Stanley | INR 5,80,000 |
| Deloitte | INR 5,70,000 |
- Data Scientist
The role of a data scientist heavily relies on overall years of experience and is valued as one of the primary career options after MBA in Business Analytics. The Data Scientist is responsible for accumulating valuable information from a wider array of data sources from which the business can benefit.
Required Skills-
- Deep Learning
- Data Wrangling
- Multivariate Calculus
- Database Management
- Linear Algebra
- Programming Language R or Python
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| Microsoft Corporation | INR 36,50,000 |
| Accenture | INR 14,60,000 |
| INR 35,30,000 | |
| Amazon | INR 27,90,000 |
| IBM | INR 16,30,000 |
- Financial Analyst
A Financial Analyst is a professional who understands the entire financial backdrop of a business, judging with proper scrutiny whether an asset is overvalued or undervalued. They assist organizations in making data-driven and well-informed financial decisions, including acquisitions and mergers, budgeting, investing in stocks, bonds, and more.
Required Skills-
- Corporate Valuation
- Financial Modelling
- Time Management and Organizational Skills
- Accounting Skills
- Analyzing Mergers and Acquisitions
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| INR 23,40,000 | |
| Procter and Gamble | INR 21,40,000 |
| DE Shaw | INR 16,00,000 |
| Schlumberger | INR 15,00,000 |
| FedEx Express | INR 13,90,000 |
- Supply Chain Analyst
A Supply Chain Analyst, as the name suggests, takes care of and is accountable for the entire supply chain of a company’s inventory, from start to finish. The Supply Chain Analyst is predisposed to working with multiple organizations simultaneously to ensure optimal supply chain logistics of the business. This professional opening is one of the most sought-after career options after MBA in Business Analytics.
Required Skills-
- Production Planning
- Quantitative Analysis Expertise
- Customer Service
- Data Analysis
- Supply Chain Network Design
- Inventory Management
Top Recruiters and Offered Salary-
| Top Recruiters | Average Salary (Per Annum) |
| Ford Motor | INR 8,80,000 |
| General Mills | INR 9,00,000 |
| Accenture | INR 8,80,000 |
| Flipkart | INR 8,40,000 |
| Cummins | INR 7,40,000 |
Conclusion
Looking at the rapid data generation across diverse industries, MBA in Business Analytics seems to be a promising career, extending myriad opportunities for fresh graduates. While inheriting in-demand skills and experience is imperative, your candidature shines best with substantial academic support from leading institutions.
In order to pursue leading job roles after MBA in business analytics, consider enrolling in the Master of Business Administration offered by Golden Gate University! Being one of the top private universities in San Francisco, GGU is driven to provide high-quality education to its candidates, aiming to upskill and advance in their careers. This course is specifically designed for working professionals looking to pursue flexible ways to upskill their careers.
Check out the course details to kickstart your journey with GGU!
FAQs
- What are the four types of business analytics?
Business analytics can be classified into four different forms. These include- descriptive, diagnostic, prescriptive, and predictive.
- Which skills are critical to be a successful MBA in business analytics graduate?
These skills are required to be an adept business analytics graduate:
- Data visualization
- Programming languages. (R, python)
- Critical thinking.
3. What’s the fee for an MBA in business analytics?
The average fees for this course range from INR 1,50,000 to 2,00,000.
Sources: https://cloudtweaks.com/2015/03/how-much-data-is-produced-every-day/#:~:text=A.,a%20staggering%2018%20zeros!).
https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
https://www.ambitionbox.com/profile/business-analyst-salary
https://www.ambitionbox.com/profile/big-data-analyst-salary
https://www.ambitionbox.com/profile/chief-data-officer-salary?page=1
Image Source : Source
https://thebadoc.com/ba-articles/f/benefits-of-business-analysis-certifications
https://u-next.com/blogs/business-analytics/who-is-business-analyst-and-how-will-demand-change-in-2022/#:~:text=The%20job%20of%20Business%20Analyst,percent%20between%202020%20and%202030.Image Source : Source
