MBA Business Analytics
MBA in Business Analytics
What is Business Analytics?
Business analytics is a domain which deals with the frequent use of data and quantitative analysis for decision making within organizations. This refers to the techniques to analyse data to enhance productivity and business gain in any company. It has both functional and technological aspects, the former focuses on process improvements, assessing business models and the latter can work towards integration or implementation of a technology/product/software.
*Using numbers to take important decisions that will directly or indirectly impact your business.
1.7 MB of new data will be created every second for every human being on the Earth by the year 2020 – EMC Digital Universe Study.
According to the US Bureau of labour statistics and Harvard Institute, BA’s will be among the fastest-growing as well as the highest paying IT occupation. Companies like IBM, Cognizant, WIPRO, Infosys and KPMG are practising business analytics tools and coming up with decisions that are valuable and effective and constantly looking out for Business Analytics graduates for undertaking critical business processes.
MBA Business Analytics Syllabus
In pursuing Business analytics post-graduation, an aspirant will be learning the following subjects:
- Quantitative/Statistical Methods
- Data management and Data Science
- Finance, Marketing, Operations, Marketing and HR Management
- Economics and Accounting
- Predictive Analytics
- Negotiation and Legal Aspects of Business
You also get to choose from various Electives during your final year/semester:
- HR Analytics
- Marketing Analytics
- Supply Chain Analytics
- Retail Analytics
- Finance or Banking Analytics
- Data visualization Analytics
- Health Care Analytics
- Machine Learning or Deep Learning Analytics
Note: The above subjects can vary from college to college.
Skillset required for MBA Business Analytics
Business analyst skills are a combination of technical and soft skills. Other factors such as having relevant work experience, certification can always be a value addition but if you graduate from a good B-school, there are many companies in various sectors that hire freshers.
- Time management
- Good communications
- Problem-solving capability/Analytical skills
- Organized in terms of documentation and reports
- Team building spirit
- Ability to inspire
- Situation handling
Remember, it is not mandatory that you should be a pro in following tools but the basic knowledge will be a great add-on.
- Advanced Excel Skills
- Python, R, Tableau
- MS Visio, MS Project or any project management relevant software
*Remember, any student can opt for MBA Business Analytics course irrespective of his graduation background.
Job Roles after MBA Business Analytics
After completion of post-graduation from Business Analytics, the job roles which are offered depends on the kind of specialization you have opted for such as Marketing Analytics, Retail Analytics etc. or your work experience if any. For someone who has IT programming skills, it can open doors in the fields of Data Analysis and Data Science
Check out some of the common roles offered after the MBA and its brief:
- Using Data and statistical methods to identify trends and performance metrics
- Design roadmaps and project timelines for HR analytics of the organization
- Working with HCM (Human Capital management), HRIS (Human Resources Information Systems) and HRMS (Human Resources Management Systems) software data to increase the overall efficiency of an organization’s workforce
- Sometimes you might work with specific HR fields such as Payrolls, benefits, time/attendance etc.
Business Analyst / IT Business Analyst
- Gathering requirement information on procedures or different issues in order to find ways to solve the problem
- Working with user stories
- Serve as a liaison between the IT or various teams and business partners/stakeholders/vendors/clients.
- Process documentation and identifying loopholes if any for overall process improvement
- Working on financial forecasting, reporting, and operational metrics
- Analyse financial data and create financial models
- Work with past data, perform variance analysis, identify trends, and make recommendations for improvements
- Evaluate financial performance by comparing and analysing actual results with plans and forecasts
- Analyse data of consumers, competitors and marketplaces
- Produce effective reports and presentations and make recommendations
- Identify potential suppliers and buyers from the market
- Work on digital marketing data/campaigns utilizing SEO/SEM, social media, advertising etc.
Operation Analyst/Retail Analyst
- Working with data related to sales/finance/retails/e-commerce in terms of consumer behaviours and vendor management
- Follow up with the client and escalate if need
- Working with the responsible team or customer in terms of operational data and work on increasing process efficiency
- Track and update the accuracy of data and check redundancy
Computer System Analyst
- Working with both Hardware and software systems of the organization and analyse them for improvement, replacement or change needs
- Prepare analysis for costs and benefits of IT structure of the organization
- Research emerging technologies and analyse their compatibility as per the company needs
- Working on software implementation and integration along with hardware infrastructure compatibilities
- Process documentation in terms of guidelines and modules
- Utilize SQL, VBA or Python skills to analyse data and work with the same in terms of processing, manipulation, export, import and migration etc.
- Working on client requests and project timelines
- Maintain the data quality as per the company standards and reporting
- Using statistical modellings such as linear regression, NLP (Natural Language processing) and toolkits such as R, NumPy (Numerical Python) for Data mining, integration etc
- Identifying trends and past patterns to performs predictive analysis for future improvement
- Working with Data visualization tools such as PowerBI, Tableau etc
- Utilizing Artificial Intelligence, Machine learning or Deep learning for Algorithm developments
Career in Business Analytics
The job roles will give you a fair idea about potential career opportunities, there are tons of managerial roles in every sector.
You can also get into the tech side that involves Machine Learning, Data Science and Artificial Intelligence.
Salaries: The salary structure after post-graduation from Business analytics can be in the range of Rs. 2,50,000 – Rs. 15,00,000 per annum with an average salary sitting at Rs. 4,80,000 per annum.
Also, it depends on the respective colleges and market conditions.
|Job Roles||Average Salary (per annum)|
|HR Analyst||Rs. 3,50,000+|
|Business Analyst / IT Business Analyst||Rs. 4,50,000+|
|Financial Analyst||Rs. 5,00,000+|
|Marketing Analyst||Rs. 5,00,000+|
|Operation Analyst/Retail Analyst||Rs. 5,00,000+|
|Computer System Analyst||Rs. 4,50,000+|
|Data Analyst||Rs. 4,50,000+|
|Data Scientist||Rs. 7,00,000+|
Recruiters in Business Analytics domain
Some of the recruiters are KPMG, Google, Wipro, Deloitte, Amazon, Accenture, McKinsey and Company, LinkedIn, HCL, Facebook, ICICI Bank, Viacom, Optum, Mahindra, UGRO Capital, Alshaya Group, DE Shaw and Co, PwC, Mondelez, Mastercard, JPMorgan Chase and Co, etc.
MBA Business Analytics Certifications Courses
There are many certification and courses available which you can pursue to add strong value on your resume and generally for an employer certification are an assurance of certain pre-requisite skills
- IIBA Entry Certificate in Business Analysis (ECBA)
- IIBA Certification of Competency in Business Analysis (CCBA)
- IIBA Certified Business Analysis Professional (CBAP)
- IIBA Agile Analysis Certification (AAC)
- IQBBA Certified Foundation Level Business Analyst (CFLBA)
- IREB Certified Professional for Requirements Engineering (CPRE)
- PMI-Professional in Business Analysis (PBA) Certification
- IIBA stands for International Institute of Business Analytics
- IQBBA stands for International Qualification Board for Business Analysis
- IREB stands for International Requirements Engineering Board
- PMI stands for Project Management Institute
You can also find some great certification courses on platforms such as Upgrad, SimpliLearn, Udemy, Emarticus, edX, Coursera etc.
Top Colleges for MBA in Business Analytics
|MBA College||Program||Average Salary|
|IIM Bangalore||PGP BA||₹ 33.82 LPA*|
|IISc Bangalore||Master of Management Business Analytics||₹ 26.8 LPA|
|IIM C, ISI Kolkata and IIT Kharagpur||PGDBA||₹ 26.31 LPA|
|NMIMS Mumbai||Dual Degree – MBA Decision Science & Analytics + MS in Business Analytics & Information Management (Purdue University, Krannert School of Business)||₹ 17.94 LPA|
|SCMHRD Pune||MBA Business Analytics||₹ 17.30 LPA|
|NMIMS Mumbai||MBA Business Analytics||₹ 15.64 LPA|
Top MBA Colleges for Business Analytics
Certification courses in Business Analytics
- Milan Prajapati – B.E. Instrumentation and Control
- Ankit Giradkar – B.E. Mechanical