Everything you need to know about MBA in Business Analytics


We have ushered into the era of big data where decision making has become more straightforward, thanks to the use of analytics. Analytics is a statistical tool used to study a big set of data and interpret relevant and meaningful patterns from it. By using it, organizations gain deeper insights into the performance of their verticals and thus focus on improving their functionality as a whole. Industries such as Banking, Healthcare, Energy, Technology, Consumer, Manufacturing, etc. are a testament to the benefits of analytics.



However, the increasing use of analytics has made companies realize the importance of hiring professionals who can handle the organization’s analytics division at a management level. To satisfy this demand, a new form of MBA specialization has come to the fore - MBA in Business Analytics.



Want to know more about this course? Keep reading to find out.



1. What is MBA in Business Analytics?



MBA in Business Analytics covers the various processes and techniques that convert data into insights which helps in making crucial business decisions. The program also enables you to acquire knowledge about the numerous tools used to collect, analyze and interpret essential information from vast sets of data.



The core subjects taught in this course are -



Data Analytics Basics

Spreadsheet Modeling and Analysis

Applied Statistics

Query Languages

Data Cleaning, Normalization, and Data Mining

Data Visualization

Applied Business Intelligence

Social and Web Analytics

Industry Applications of Analytics



The course also encourages hands-on training in analytical laboratories, by which you will understand the practical application of business analytics tools. Moreover, you will learn other important aspects of business such as business metrics, on-time delivery, performance management, statistical and quantitative analysis, predictive modelling, etc.



2. What are the different domains under business analytics?



You can pursue three different domains under business analytics. They are -



1. Sales and Marketing Analytics - Sales and Marketing analytics provide detailed insights that help in increasing revenue, profitability and improve brand perception. It also helps in uncovering new markets, niche target groups and areas for future development.



2. Product Analytics - Product analytics gathers data from different aspects such as service reports, product returns, customer feedback and product defects. It evaluates the data and identifies opportunities for improvement in product quality and the overall customer experience.



3. Risk Analytics - Risk analytics examines the uncertainty of a particular course of action. By the use of statistical analysis, it gauges the success or failure of a project. Based on the results, companies can make informed decisions that will help in mitigating their losses.



3. What are the career prospects?



Based on your knowledge, skills and experience, you can land one of the following lucrative job roles after completing this course -



Business Analyst

Business Analyst Industry Expert

Business Analyst Project Manager

Data Analyst

Data Scientist

Predictive Modeller

Qualitative Analyst

Market Research Analyst



With the increasing use of business analytics in multiple domains, the time to make a management career in big data would be now. So, pursue an MBA in Business analytics from one of the top MBA colleges in Pune or elsewhere, and lead a successful in it. All the best!

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