Why should one build a career in data analytics?
Business analytics is a broad subject. So before we go ahead and find out about business analytics, let us first study a career in analytics and delve into the key concepts. The analytics industry is booming, and it will continue to do so in the coming years. It is set for growth manifold.
The rapidly growing availability of data in digital form brings into practice smarter and faster data-driven decision-making.
According to the McKinsey Global Institute (In a May 2011 report): "By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions."
Imagine what the number would be across the globe. Those new to the industry find it challenging to go about it because analytics, as the industry has just come into existence, is already showing great future potential.
Seldom are there means available for freshers to step into the area of analytics. The lack of proper guidance makes it difficult for them to infer and appreciate the career choice in analytics.
'Analytics' or 'Business Analytics' is a loosely used term that often makes it difficult because people get confused. There is limited structure and a lack of a proper plan that helps the newbies enter the field of business analytics.
HOW TO START
There are several ways you can enter the field of business analytics and kickstart a career in analytics:
Join a company that also provides you with the necessary skills(i.e., job training). These are the organizations that run on analytics, and the process of decision-making is also analytically driven.
While this is an excellent approach for the long run, it takes a considerable amount of time and monetary investment if the training companies are not equipped with the right infrastructure and facilities and a proper organizational structure.
A few Indian companies which apply leading-edge analytics are Google, Facebook, and Linkedin, which are the technology leaders. Capital One, American Express, ICICI, and HDFC in the banking sector. The idea, Vodafone, Airtel in the Telecom sector, and analytics consultancies: Fractal, Mu-Sigma, Absolut data, ZS Associates, etc.
Here's a list of some essential tips to help accelerate your career as a business analyst. Let's get started! For those who are willing to go ahead and try their luck in the field of data science.
We have prepared a well-designed comprehensive course for students so they can ace their data science interviews. You are sure to conquer any data science interview with this course.
Another way you can land a job offer in a great company is through internships. Internships are a great way to enter a company with very high chances of conversion into a permanent employee.
So if you find yourself unable to get through with the job application process, go ahead and join as an intern. Although it doesn't always work 100%, Internships are comparatively more straightforward to achieve than job offers.
There is another approach to entering the analytics industry, and that is certification. You can opt for a certification in Business Analytics which will make you employment-ready.
These certificate courses provide you with the suitable skill set required. These courses don't compensate for the industry experience in the field but, to a great extent, play a significant role in shaping your career path.
People who have prior work experience and access to proper resources can join the leading academic institutions. The ISB- Indian School of Business is highly recommended.
Even freshers who have absolutely no experience in the field have so many institutes they can apply to. These certificate courses can boost your chances of getting hired by some of the top companies in the field.
There are other steps you can take if you wish to rise in the field of business analytics. First, increase your awareness and knowledge about the field. Read articles, updates, news, blogs, etc. Join communities online where you can interact with peers. Stay up to date with changing trends in the field.
Participate in industry forums where you receive first-hand information regarding the subject. Attend meetings, and conferences and always be in the loop to avoid missing out on any critical information.
An example is the Data Hack summit which happens every year and is a platform that brings together leaders in the industry and gives you a chance to interact with them. There is so much that you can get to learn just by attending such gatherings. It's a small industry, and most people know each other.
This way, you get an excellent opportunity to make contacts and create an applicable network in the industry. Open up new areas for yourself and get all the critical insights from the best in the industry.
There is a lot of training material available on the internet which is free of cost. Several websites offer beginners, intermediate as well as advanced courses without any fee. One must know how to make use of such fantastic opportunities for yielding the best results.
For example, Google offers basic training in Google analytics for free. Numerous other websites are running online courses with free access. Make the most out of such online resources to excel in your field.
Find good books you can read on all the essential subjects in the field of analytics. If you find it challenging to purchase, go ahead and get an online version. The new Science of retailing, The Signal, and The Noise are great books, to name a few.
The business analytics field is growing in leaps and bounds. Students who are determined to enter this industry can gain technical skills and knowledge in no time. They can quickly enter the industry and help businesses become more optimized by employing the data-driven approach.
A master's degree in business analytics provides you with all the knowledge and technical skills you need to begin your journey in the field of business analytics.
This course aims to equip you with the necessary knowledge and training to drive business planning. In addition, it will provide all the resources you need to launch your career as a business analyst.
According to The Economic Times report-2020, 83% of India's data-driven companies managed to survive the Covid 19 pandemic and were more resilient during the Coronavirus pandemic.
The Applied Business Analytics program is designed and structured so that it doesn't just explain the models but also how businesses apply these models for their problem solving and decision making and gather insights and predict outcomes.
The program provides a hands-on learning experience and rigorous training for students to understand the different areas of analytics and the application of these concepts for making informed data-driven decisions for the growth and development of businesses. Any Graduate or Diploma holder is eligible to join the program.
This leading-edge program is best for professionals looking to skill up in data analytics and data sciences field, use analytics to manage teams, and improve functional performances.
Professionals will learn how to leverage business analytics to develop data-driven growth models for businesses and effectively strategize to surpass innovations and competitions. In addition, the course will prepare students to develop data-driven solutions to real-world problems faced by clients and businesses.
KEY HIGHLIGHTS OF THE PROGRAM
Data collection and data analysis using analytics tools Gather insights on businesses and employ data-driven decision-making for making more informed business decisions and facilitating growth.
Testing whether analysis confirms the hypothesis Application of ML techniques in work to solve business problems
CONCEPTS COVERED
The course elaborately covers the following concepts: Introduction to business analytics, Conceptual preliminaries, Problem formulation, ML frameworks, Descriptive and Predictive Analytics, Logit Model, Classification Analysis, Factor Analysis, Visualization, Cluster Analysis, Elementary Text Analytics, and Network Analytics.
Students imparted technical knowledge of a wide range of tools and software, along with theoretical studies. They will receive hands-on training on a variety of software which will polish their skills further.
The most widely used software in the field of analytics will perfect you with practice. 'R,' which is the topmost analytics language used in the field of prescriptive analysis, machine learning, and artificial intelligence, will prove to be highly beneficial as it finds usage across the analytics industry.
Power Business Intelligence (PBI) and Tableau have been used in the fields of visual analytics as well as data-driven decision-making processes. IBM SPSS Modeler is used in data extraction, data mining as well as text analysis.
Statistical analysis of data is carried out using Stata and SPSS. For structured query languages and managing databases, PostgreSQL, MySQL, and Microsoft's SQL are used. Resource planning for enterprises is done using SAP.
EXCEL is used for data analysis and solver add-in. Finally, virtual reality animations and for other distinct simulations, Simul8 and SIMIO are used.
COURSE DESCRIPTION
The purpose of this course is to provide knowledge and information about all the key concepts in the field of analytics to make you ready to work as a business analyst.
As a newbie, one tends to wonder if they should go ahead in the field or not; several doubts arise in their mind regarding their career choice.
What is the job role of a business analyst like? What kind of skills do I need to possess to work as a business analyst? What is the expected remuneration as a business analyst? What tools must I be familiar with for working as a business analyst?
How can I find a lucrative job offer as a business analyst? How should I prepare myself for an interview as a business analyst? As you proceed with this course, you will receive answers to all the questions and queries in your head regarding the field.
It will also enable you to learn SQL, Google Analytics, Mixpanel, and SalesForce, along with numerous other essential concepts.
This course will take your analytics career to new heights, and you will find yourself able to make business-oriented decisions using massive amounts of data effectively. You will learn to apply your skills from various tools and techniques that you have learned and analyze data about diverse business operations.
You will receive a thorough understanding and in-depth knowledge of quantitative analytical concepts and methodologies and get to implement these methodologies using data management software and tools practically.
You will be able to analyze data and utilize your problem-solving skills to overcome challenges faced by businesses. This will give you a chance to solve real-world problems and gauge your analytical prowess.
You will be able to critically evaluate techniques relating to business analytics and incorporate existing knowledge and methodologies to overcome challenges faced by businesses.
You will manage analytical projects independently, from analyzing raw data to creating visualizations and effectively communicating your results to your target audience.
CAREERS PROSPECTS
After completing their course, Business analytics graduates can pursue careers as Data scientists, Financial analysts, consultants, managers, business intelligence analysts, operations researchers, etc.
Universities provide proper guidance and career counseling to suggest the best job title/position for you. You will be able to master how to make data-backed decisions for organizations across a broad range of industries and put analytical information to the leaders in the industry.
As a result, you will enable business owners and stakeholders to make the most strategic analytical decisions to help their businesses grow. Graduates from MSBA programs have landed jobs at leading firms in the industry and have used their degrees to soar higher and higher in their careers.
CONCLUSION
Your degree course sure lays the foundation for your career, but this course will train you with the much-needed skills and knowledge required for the business analytics profession. Furthermore, a deep understanding and knowledge of data can lead to better appreciation and recognition in the workplace.
Wherever you go, with an understanding of data analysis, you will be able to create a more substantial impact on your organization. You will have better leverage over others, and your viewpoints backed by data will make you more influential.
