Business Analytics

Business Analytics

Degrees offered: B.B.A, B.Com, B.Com(Hons), B.E /B.Tech, B.Sc., B.Sc.(Hons), B.Voc.

What is Business Analytics

Business Analytics is a systematic and methodical presentation of data of any organization which is driven out of statistical and numerical analysis. Business analytics is a method which is used by the majority of companies today in order to make decision making effective and efficient. Thus, Business analytics course is a course which helps the students to learn the need and use of business analytics.


Taught as one of the most selected specialization courses in Master of Business Management (MBA), Business Analytics serves as a systematic process which is a combination of data analytics and Business Intelligence on the basis of which companies rely on their process of management, I.e. Planning for future goals, controlling the combination of capital and manpower, organizing the process in an efficient way possible, coping up with future-oriented goals and making analysis on the basis of Business Analytics.


In simpler term, Business Analytics is a continuous process which involves collection, processing and analyzing the business data and operations, and with the help of statistical models and ideologies, transforming the outcome into business insights. The insights lead to improve the efficiency of the organization to achieve its objectives and early adaption of prone to complications. So, Business Analytics is a systematic presentation of data through which the company achieve their goals and get first-mover advantage in the industry.


Master of Business Management (MBA) in Business Analytics prepares students In developing their skills in making business strategies and formulating plans of how to conduct a systematic analysis of organization data and evaluating the best possible outcome that will lead to achieving organizational objectives. Business Analytics is a subset of Business intelligence and specifically focuses on implementing the identified goals into actions. Business intelligence is generally descriptive in nature which provides tools and methods to identify, categorize and analyze raw data and compares with past and current operations.


Business Analytics Highlights

Business Analytics Course is a Full time/Part-time/executive MBA programme which is conducted by various top universities in India and worldwide. Apart from these Programmes, there are many online as well as offline diploma/certification courses available in Business Analytics for the professionals and also for job seekers who want to cope up with the current business scenario by enhancing their analytical skills as a business professional. Those candidates who are willing to have strong analytical skills and who are interested in the systematic representation of Business Analysis can make this possible at MBA/PGDM level. In India, most of the Business Analytics course is offered to be 2-year full-time courses, which broadly includes:

  • Understanding the need and role of Business Analytics for an organization

  • Conducting the development and training skills and organizing on the basis of Descriptive Analytics, Diagnostic Analytics, Predictive Analytics and Prescriptive Analytics.

  • Introducing candidates with the tools and measures used while conducting Business analytics to cope up with emerging business environments.

  • Training simulation in various industries to make candidates aware of industrial complex obstacles and learning to overcome those obstacles.

Eligibility Criteria (UG & PG) of Business Analytics

Candidates who aspire to enrol for Business Analytics course are required to complete the eligibility criteria to pursue the aforesaid:

  • Business Analytics course is a course which is offered at MBA/PGDM level, so, the minimum education qualification is Graduation from a recognized university or equivalent.

  • Any candidate who has completed their graduation can apply for the Business Analytics course. However, students who have completed their graduation from Commerce or Science stream would find Business Analytics more relatable since they have thoroughly studied Mathematics and statistics for better analysis.

  • The minimum percentage required to enrol for Business Analytics Course would be a minimum aggregate of 50% marks as per the guidelines of AICTE.

  • Those candidates who wish to pursue a Business Analytics course are required to appear and clear and of the common management entrance exam such as:

    • Common Admission Test (CAT)

    • Graduate Management Admission Test (GMAT)

    • Xavier Aptitude Test (XAT)

    • Symbiosis National Aptitude Test (SNAP)

    • Common Management Admission Test (CMAT)

    • NMIMS Management Aptitude Test (NMAT)

    • Management Aptitude Test (MAT)

    • ICFAI Business Studies Aptitude Test (IBSAT)

Scope of Business Analytics in India and Abroad

Business analytics has turned into a major factor of consideration for the growth and development of organizations these days. Huge investments are made only after concluding the result of Business Analysis and operations so that the risk factor could be minimized and profit could be maximized.


If the experts are to be believed, by the end of the year 2025 India will be among the top leaders in the talent market with high expectancy and factor growth. So, a strong entrepreneurship culture could make the market stronger in the country, making foreign direct investment and outsourcing a rapid growth in the Indian economy.


Business Analytics plays a significant role in industrial growth since quantitative analysis and statistics help the industry to analyze the best alternative to achieve the objectives. As per the latest modification in the development and enhancement of business analytics tools and technology companies can use artificial intelligence as a business analytics tool in order to understand the needs and wants of customers that will lead to profit maximization. As much as the market of business analytics is taking off rapidly, the need for manpower increment is also increasing.


Not only in India but the scope of Business Analytics does sustain well globally. There are many countries that consider business analytics as one of the huge sources of wealth maximization. Those industries which are dealing with websites, a captive market, niche market, telecommunication and IT sector have seen a major increase right after the use of Business Analytics in their industry. Since the skills to perform Business Analytics requires high degree knowledge of Business strategy with mathematical expertise and Python coding, the scope of Business Analytics turns out to be one of the major designations in the company that will be increased forever.

Course Fees Business Analytics

Minimum Fees Maximum Fees
Private Government Private Government
UG
60.30 K
B.Com in Business Analytics at RK Degree and PG College, Kamareddy
33.00 K
B.Voc. in Business Analytics at Shri Vishwakarma Skill University, Gurugram
17.15 Lakhs
B.E /B.Tech in Business Analytics at School of Computer Science, University of Petroleum and Energy Studies, Dehradun
2.40 Lakhs
B.B.A in Business Analytics at Dr MGR Educational and Research Institute, Chennai
PG
6.80 K
P.G.D in Business Analytics at All India Institute of Management Studies, Chennai
11.50 K
P.G.D in Business Analytics at Chaudhary Devi Lal University, Sirsa
21.50 Lakhs
M.B.A in Business Analytics at Great Lakes Institute of Management, Chennai
24.00 Lakhs
P.G.D in Business Analytics at Indian Institute of Management Calcutta
DOCTORAL
2.35 Lakhs
Ph.D in Business Analytics at University of Science and Technology, Ri Bhoi
---
Data not available
2.35 Lakhs
Ph.D in Business Analytics at University of Science and Technology, Ri Bhoi
---
Data not available
DIPLOMA
10.00 K
Diploma in Business Analytics at RC Patel Institute Of Management Research and Development, Shirpur
---
Data not available
2.40 Lakhs
Diploma in Business Analytics at International Institute of Fashion Technology, South Extension, New Delhi
---
Data not available

Course Subjects

Business Analytics course does revolve around management topics as well as topics that relate to overall business operations. Business Analytics Course broadly focuses on the need and roles of a business Analytic in an organization. Under the business analytics course, the subjects are covered majorly under financial management and business management which has a further classification of business management into marketing management and organizational management So, the subjects are equally segregated in 4 semesters which includes:


Semester 1

  • Quantitative Methods

  • Management Information Systems

  • Data Modeling

  • Statistical Analysis

  • Managerial Economics

  • Marketing Management

  • Organizational Behaviour

  • Financial Accounting

  • Managerial Communication


Semester 2

  • Financial Management

  • Human Resource Management

  • Optimization Analytics

  • Business Intelligence

  • Computational Methods

  • Operations Management

  • Financial Analytics

  • Stochastic Modeling

  • Research Methods


Semester 3

  • Predictive Analytics

  • Marketing Analysis

  • Simulation Modeling

  • Industry Internship Programme

  • Risk Management

  • Data Mining

  • Analytics, Systems Analysis & Design

  • Analytics Capstone Project


Semester 4

  • Strategic Management

  • HR Analytics

  • Ethical & Legal Aspects of Analytics

  • Professional Development

  • Operations & Supply Chain Analytics

  • Big Data Analytics

  • Project Management

  • Elective Paper

Careers in Business Analytics

A career in business analytics, in general, requires a minimum bachelor’s degree in data science, information management, business intelligence, statistics, marketing or any other relevant field. So, a master’s degree opens many more alternatives for candidates not only in remuneration but overall development as well. It helps students to enhance learning and management skills, technical skills, comprehensive skills as well as leadership skills. A business analyst is responsible and accountable to top management itself. Business Analyst functions in his own department but coordinates neck to neck with the sales, marketing and production department. Business Analytics is a much broader term than actually analyzed.

Job Profiles and Top Recruiters

Considering analysis as the basic element, the job revolves around the interpretations of data, summarizing it and creating the result for comparison. Every company makes three core goals for their organization- cost optimization and cost reduction, optimum customer satisfaction and maximizing profits. If the financial leverage is properly accumulated the business Analyst not only helps to make these plans but also makes it possible to achieve the objective benchmarked for the process. 


Thus, with the help of advisory roles by Business Analytics the company can speed up the decision-making process, coordinating business strategies with the objective, responding to the demands by customer satisfaction, wealth optimization and coping with the industrial revolution to change and then synchronizing the financial strategies with the operational strategies. So, the job fields for business analytics graduates in any organization are as follows :

  • Data Scientist: Using machine learning of machines to create futuristic algorithms.

  • Data Analyst: responsible for analyzing common patterns and trends in a particular data.

  • Business Analyst: Creating business visuals, APIs for data comparison and analysis.

  • Management Analyst: Responsible for the efficient running of business operations.

  • Management Consultant: Responsible for determining areas of improvement in business processes and also advisory council.

  • Marketing Managers: Responsible for making marketing strategies. Managing and controlling the entire sales and marketing staff, running and initiating marketing campaigns.

  • Research Analyst: Responsible for managing and deriving the best alternatives for operations. This analyst is responsible for the identification and protection of potential areas in the future course of actions.


Other than these jobs, the qualified personnel may also get into jobs as similar as any other MBA graduate may get, as the course specializes in MBA, The jobs In abroad also consist of financial markets since the financial markets in abroad are much established outside India as people consider stock markets and other markets safer then the Indian people consider. So, in countries outside India financial markets also lead Business Analyst as an integral job for the success of an industry as a whole.


Top Recruiters not only from India but worldwide consider the need for a business analyst in their organization. For that reason, there is a huge demand for Business Analysts in every corner of the world. The top recruiter includes:

  • Websites with Analytical operations: Snapdeal, Make my trip, Flipkart, Rediff, Times of India

  • IT sector: TCS, HCL, Mahindra, Wipro, Cognizant, Infosys

  • Telecommunication Sector: Airtel, Nokia, Vodafone

  • Banking Sector: Standard Chartered, ICICI, HDFC, Deutsche Bank.

  • Captive market: E-bay, HSBC, Dell, Amazon, Citi Bank, Deloitte.

  • Outsourcing sector: Convergytics and many more


Apart from the companies mentioned above, there are also some industries which are known for hiring in a good bunch of Business Analysts throughout the time such as TATA Group, Adani Group, Morgan Stanley, American Express, Larsen and Toubro, Boston Consulting Group and many in the series.

Questions related to Business Analytics

Showing 135 out of 135 Questions
24 Views

Which one should i choose among IFIM (Business analytics) or IMI Bhubaneswar or IBS Mumbai ?

Manidipa Kundu Student Expert 30th Apr, 2021

hi,

see the institute name which you have mentioned are excellent in terms of placement, college infrastructure, students faculty ratio, extra curricular activities as so on. however IFIM has started business analytics course in 2016 and this is comparatively new to the IMI bhubaneswar and IBS mumbai.

However I have rearranged the college according to priority wise as follows

imi BHUBANESWAR

IBS mumbai

IFIM bangalore.

14 Views

Is Sri Balaji Institute of Modern Management, Pune is good for Doing MBA in Business analytics and How is the placement for business analytics?

Manidipa Kundu Student Expert 30th Apr, 2021

hi,

see sri balazi institute of modern management is a branch college of ari balaji university. the college is popular among students because of its placement record, college infrastructure , students faculty ration and so on. however according to previous years data around 90% of students placed. major recruiters are  tcs, vedanta, amazon etc. however you also need to work hard to get highest score in academics as well as building soft skills.

hope it would help.

18 Views

Comparing data engineer and data analyst and business analytics and data scientist and data administrator and data architect which of this is highly paid job

Manidipa Kundu Student Expert 21st Apr, 2021

hi,

see all of the work position you have mentioned is different slightly from one another and it depends on the organizations and the work load may differ as per organization wise. so it can not be predicted which of the course would bring a good salary, as a fresher you may expect 3.5-4 lpa job in any of the discipline. but the candidates who are well versed in programming and belongs to top institute like vit vellore, nits , JU may brags 6lpa + package at the starting of career.

so work on your skill and practice every day.

21 Views

Is upes Dehradun is good for pursuing MBA in business analytics

Atif Ali 18th Apr, 2021

Hello,

I would say it's not only good but it's one of the best in country for this course. It NIRF (National Institute Ranking Framework) ranking is 66 and NIRF score is 43.73 in terms of MBA colleges. Faculty, placement, Infrastructure is well maintained.


For MBA in Business Analytics there are only 30 seats.

Total fees for this course is almost INR 15 Lacs

Average salary after this course is INR 5 Lacs


List of exams accepted-

CAT

MAT

GMAT

CMAT

NMAT

XAT

UPESMAT


Track record of this college is also very good. Almost 90-95 percent Students placed every year.  Here's the list of some of the recruiters of this Institute-

1. Tata Consultancy services

2. Accenture

3. Infosys

4. HDFC Bank

5. IBM

6. Wipro

To know more about this course from this Institute, please go through this link

https://www.careers360.com/colleges/school-of-business-university-of-petroleum-and-energy-studies-dehradun/mba-business-analytics-energy-analytics-course


Good Luck.

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