Enrol Now

What subjects in MBA equip you to be future-ready?

Hello! We do understand that you’ve completed your degree and are at crossroads.  

You have a choice to pursue a postgraduate programme in the field that you did your undergraduate in or a master’s degree in a management programme. Well, you are lucky that you have choices; yet you need to make the right choice.  

Although the programme title is MBA, you will not be restricted to studying only management subjects that lead to the functions of planning, organising, staffing, leading and controlling. 

‘Must Have’ MBA subjects in your curriculum

MBA subjects are designed and introduced at just the right time, after being crafted with care, such that it boosts your confidence and improves your listening and communication skills. MBA, in my opinion, skyrocket your decision-making and analytical skills and enhances your problem-solving skills, strategic thinking, and self-discipline. You should then be able to work with a wide variety of people from different backgrounds and temperaments since you would be a pro at interpersonal skills.  

Communication: We understand that you as a manager, need to be equipped with the most important tool to take up any of these management functions listed above. Wondering what that tool is? Yes, it’s a very simple one – communication. So, as an MBA student, you get to hone your communication skills. 

HRM: As a manager, you need to take care of many things – people skills, being one of them. Hence, the HRM subject is the basic input, and the advanced ones leading up to recruitment, compensation, employee benefits, training, and organisational development, in case you decide to continue in the HR domain. 

With good exposure to organisational behaviour and HR, your leadership and teamwork skills definitely stand to gain. 

Marketing: The very fact of pursuing an online MBA is that you get to interact with many students (they’re in thousands, as against your regular classroom of a couple of tens, you see?), gives you that extra perspective – the ability to think out of the box. Networking, learning the latest trends in terms of marketing, understanding the consumer, and becoming a good salesman by applying all principles of selling that you’ve learnt, come as a bonus. 

Business Laws: You, of course, need to follow business laws and rules. It could be related to something as simple as knowing the minimum requirement to register for PF for your employees. You need to know these even if you are an employer and more if you hold a position in the HR department. In case you are setting up a company, you need to be aware of all the compliances that the law of the land demands. Hence, the MBA subject related to the legal aspects of a business is essential. 

Statistics & Research Methodology: We’ve been dealing with numbers from a very young age, and it continues to be the case at every stage in life – as an employee, as well as an employer. You need to be sharp to grasp numbers, make projections, and understand in which direction to steer your department. Here comes the use of research methodology and statistics for your help. 

Finance: And there are numbers related to profits. You need not necessarily be in the finance department to be equipped with the ability to understand those. As a basic life skill, you need to know the basics of accounting and finance, including simple transaction entries, receivables, and dues/outstanding payments. In future, if you plan on taking up a larger financial role or becoming an entrepreneur, you need to dig deep and understand statements, ratios, and more. 

Technology: In this era of technology, you can’t do without computer skills. You can use technology for simple calculations to perform complex analyses. You can use or build apps that help you in any role you may play – as an employee, a vendor, or an employer. 

Economics: The ability to understand economics is a key factor for any business. That’s how studying macro and microeconomics provides you with that ability to understand your business and contribute to not just your business but to the country/ global economy. 

Environment protection: While you may have a profit motive to contribute, as an employee or employer, you cannot lose sight of protecting the environment in any activity of the business that you undertake. You should have the ability to contribute towards environmental protection (whatever business you are engaged in, you should always think of protecting the environment, and hence you will be sensitised towards environmental protection in almost all subjects).  

Subjects that will make you ‘future-proof

With all the tools you get trained on, your Operations Management, Project Management, Analytical, Research and Risk Management skills should reach the altar, as also your critical and strategic thinking skills. If you are already gifted with creativity, your innovation and entrepreneurial skills improve too. You should not restrict your business idea in setting up a shop in India. The world is a global village. You will be exposed to international business too in the MBA programme, which gives you that edge to think and act globally.  

Finally, the online MBA consists of several assignments and projects, which will help you with time management skills and your ability to prioritise. The project work gives you hands-on experience such as adaptability to changing business environments. If you are already in a job, an MBA serves as a springboard to propel you in your career. And you are aware of the benefits that come with the rise on the career ladder.  

MBA specialisations

Whoa! Looks like there’s so much to management, right? What are the specialised subjects in MBA? 

By the time you finish two semesters, you definitely are a jack of all trades, but don’t you think a bit of focus is also required, at least when you wish to make a career in a particular domain? Here’s when specialisations come in handy. You select an MBA specialisation when you have a taste of all basics and when you are in a position to make a choice.  

Specialisation helps you to focus. It leads to satiate your interest in a particular domain. All you need to do is choose the right one – from the range of traditional and new-generation specialisations being offered that include HRM, Finance, Marketing, Data Science, IT & Fintech, Supply Chain Management, and Business Analytics. We urge you to make an informed choice based on your interest. 

Conclusion

So, what is the future of pursuing an MBA in India? With the growing number of start-ups and the boom in the corporate sector, the industry clearly needs more management executives. Your exposure to the above-mentioned subjects in MBA will improve your communication and interpersonal skills (to be able to deal with any situation in a prudent and intelligent manner). Not to forget that you get to improve your listening skills too in order to understand and speak well.  

Do you now agree that this online MBA programme is designed to create a new you – who is brimming with confidence, and ready to solve complex problems? Are you prepared to take on the corporate world? 

Data: A fuel that drives business decisions

Data is the most valuable asset in the current technological era. Data assets can be in the form of a file, document, webpage, or application that an organisation would use for generating revenue. 

Data (datum-singular) refers to facts and statistics. It is one of the most used words in academia, research, and the corporate world.1 

Technological advancement and digitalisation have made accessibility of data to corporates at a click. Data is substantially vast, varied, and fast. 

In recent times, corporates, in a bid to gain a competitive advantage, use various applications and systems (ERP or CRM), where data help them provide relevant information and insights. When it comes to answering very basic but critical questions accurately about profit margins, productivity, performance,etc., it is important tohave correct and timely information. 

In sum, data is the best version of the truth and has essential information which businesses can rely on. Managing and mastering data is a necessity for businesses as it would enhance the quality and consistency of their key data assets. 

Why do we need data? 

Data is the basic component of modern decision-making. It has different purposes based on the type of data and business objectives. Some of the importance of data in business are as follow -  

  1. The only “source of truth: For seamless business operations and processes, it is important to have a single source of information. This source acts as a common thread that binds all the functions in an organisation. 
  1. The basis for precise and accurate transactional data: The integrity of every single transaction depends on the accuracy and completeness of the data. 
  1. Business impact: It is impossible to do business without accurate data.  
  1. Efficiency: Data (which is the starting point for all transactional activity) if not managed efficiently can have adverse effects. The cost of re-do of the faulty foundation is colossal. 
  1. Uniformity: Standard procedures, and common vocabulary across functions, will facilitate smooth cross-functional interactions without any misunderstanding, thereby building synergies within the various functions in the organisation. 

Reasons why data will sometimes not be in good shape 

Data management could be hazardous due to various reasons. Followings are some of the reasons that affect the integrity of data -  

  1. Urgency: Various activities in the organisation happen in a hurry. There is a tendency to cut corners to save time which may lead to clerical errors or duplication of work. Also, the use of non-standard terms could lead to unnecessary confusion. Organisations end up spending a lot of time and money to clear the mess created by shortcuts taken to save time. 
  1. Rigidity: The master structure of the data is many a time prepared without having visibility of the future. A futuristic view should not limit its functionality. 
  1. Lack of definite ownerships: It is assumed that it’s the responsibility of the team that handles transactions and should create master records. However, this team may not have an overall understanding of the organisational functions. Also, centralising the process may not solve the issues if the mindset remains the same. 
  1. Multiple stakeholders and varied requirements and formats: The information available in the master data may have been created by limiting them to a particular department, an activity, or a function while ignoring the requirements of other stakeholders. For example, in a factory, the production department keeps a record of the number of units produced; however, the operations department wants to record the number of hours. 
  1. Ignorance of the creator: Based on the above example, we can understand that the limiting factors are not deliberate. Such omissions happen as the creator of the master structure is not aware of the consequences. The creator doesn’t have the full vision of the upstream and downstream effects of the master records. 
  1. System limitations: Various systems and applications are used by organisations to make the day-to-day job easy and avoid human errors. However, they have their own limitations. Also, many of the transactions involve communication with external systems. For example, validating a vendor based on GST No. or Bank A/c No., etc. Not all stakeholders will have access to all kinds of data based on the domain they operate in. 
  1. Setting up of priorities: Many of the errors and omissions do not get highlighted immediately. Therefore, it is necessary to have a set list of procedures and principles based on the priorities. It contributes to enhancing the quality of the master data. 

Adopting comprehensive data management is pivotal for all organisations as it is essential for building an efficient data-driven ecosystem. 

How to ensure the data is comprehensive and complete 

Here are a few processes that help data to be comprehensive and complete -  

  1. Futuristic view: The creators should have a clear understanding of business strategies and the key drivers. The data designs should be future-ready and help scale up the business objectives. It will also help in avoiding the risk of hitting the dead end. 
  1. Data hygiene: Making data hygiene is an ongoing activity. 
  1. Dedicated team for data management: Master Data Management (MDM) helps in maintaining the integrity of the data. MDM may be a shared service or at the head office. 
  1. Standardising: Standardising policies, creating frameworks at inception for procedures, conventions, vocabulary, etc., and setting ground rules will ensure weeding out silly errors. 
  1. Data validation: The systems and platforms used by the organisations should have proper validation rules set to prevent the garbage from sweeping into the system. Reasonable checks are necessary to eliminate errors that would litter the data. 
  1. Source data: There should be a full-proof way to ensure that every time data changes hand, it should not run a risk of unintended corruption. Any modifications are to draw it right from the source. 

Need for developing comprehensive data management functions 

The followings are some of the points that highlight why every business must develop comprehensive data management functions -  

  1. Eases operations: Enables smooth flow of activities through the Data Management (DM) platform. Data management also helps in improving UI/UX for all stakeholders. 
  1. Fast response mechanism: Data management helps enterprises in speedy, smooth, and seamless communication for better and faster decision making. 
  1. Integration of data: All internal and external stakeholders can be equally responsible and act collectively. Data integration across all functions in the organisation help in improving the brand image and preventing inadvertent errors. 
  1. Business insights: Data is everywhere and is very critical for business insights. Organisations are going towards building a data-driven decision-making culture. Flawed data can be disastrous. 
  1. Privacy of data: Dissemination of flawed data or leakage would lead to fatal consequences for businesses. Regulators are constantly emphasising data privacy.  

Be a future-ready data professional 

By enrolling in a course, you can be an in-demand professional in the world of data. Online Manipal offers a UGC-entitled online M.Sc. programme in Data Science to build future-ready data professionals. The programme was designed and delivered by the expert faculty from the renowned Manipal Academy of Higher Education (MAHE). NAAC A++ accredited, MAHE is one of the top-10 institutions in India that was bestowed the Institute of Eminence status by the Government of India. 

The comprehensive curriculum of M.Sc. in Data Science covers machine learning, big data analytics, and statistics. The industry-focused modules will help learners equip various data roles and positions in top organisations. You can take this self-paced programme from the comfort of your home by accessing the learning material on the state-of-the-art learning management system (LMS). The LMS contains reading, concept videos, recorded lectures, quizzes, an extensive e-library, and a discussion forum. Online Manipal provide placement assistance, industry connect, and access to alumni network to boost your career prospects. 

Conclusion

Data is the new fuel in this world as it is the basis for every step in the day-to-day functions of every organisation. From small business enterprises to corporates to governments, all depend on the data to make decisions and set processes for business growth. However, some activities jeopardise effective data management. Hence, it is essential for all to adopt comprehensive data management functions to build an efficient and futuristic data-driven ecosystem. 

References: 

  1. https://corporatefinanceinstitute.com/resources/knowledge/other/data-assets/ 
  1. A recent survey by Mc Kinsey & Company (“Designing Data Governance that Delivers Value” – by Brian Petzold et al, McKinsey Digital June 26, 2020)

Tips to help you complete your online MBA programme

Online MBA programs are a feasible option for both fresh graduates and working professionals seeking to balance their work-life and higher education. Online Manipal offers flexibility to learn at your pace, that made possible for learners to get a degree in 24 months (two years). 

The most common question that a learner has today is ‘how to do an MBA?’ ‘Is an online MBA worth it?’ – It is definitely a dilemma for 5 out of 10 learners. 

A learner attests importance of online MBA 

While juggling between a full-time job and being a mother of two, Ahmedabad-based Marketing professional Diksha excelled in crafting her schedule and successfully earned a master’s degree from Online Manipal.  

“Unlike traditional learning, which is around the schedule, Manipal University Jaipur gives freedom to learn from anywhere, anytime, and on any device. My continuous dedication and strategic approach towards the completion of an online MBA helped me achieve career heights,” she says. 

Tips to help you complete your online MBA effectively and efficiently 

If you would like to follow a similar path to that of Diksha, here are the tips and ideas to effectively plan your online MBA learning and complete the degree programme. 

  1. Connect with the student support team and understand the expectations beforehand 

Contact the student support or admin team and understand the requisites for an MBA online program. One can discuss and clear their doubts and queries related to admission, curriculum, assessment, important notifications, learning material, and access to learning portals. It, in turn, helps the learner foster networking opportunities within and outside their cohort.  

  1. Time management is a key 

In the hustle and bustle of busy life, making room for studies could sometimes demanding. Setting up a realistic time schedule will help in prioritising the task and prepare one for accomplishing the task. Strategise and equally disbursed tasks in small chunks that can reduce the amount of stress and will help in working smarter. The key aspect of online study is managing your time wisely and becoming abreast of semester ongoing activities.  

Secondly, figure out which hour in a day you can channel your time and efforts best for study. It can be a time when you are travelling back from the office, or it can be an hour early morning.  

  1. Interaction and networking  

Weekly live webinars, discussion forums, guest lectures, panel discussions, quizzes, and case study discussions will provide you with many opportunities to converse with industry experts, entrepreneurs, faculty, coordinators, and fellow students. One can network and exchange ideas and thoughts on the latest trends and career enhancement topics. 

  1. Make the most of e-learning material  

From e-tutorial to e-content, online discussion forums to live webinars, all formats of content are made available to you on the learning management portal (LMS) of Online Manipal. Learners can also access the e-library, which has a vast collection of e-books by international and national authors, journals, and research papers on specialised areas such as marketing, technology, human resource, analytics, finance, and much more. You can also devote your time wisely to go through the content available to them during that specific period. 

  1. Make studying a habit 

Ensure you dedicate enough time to your daily to-do list to study. If you have work priorities, you must make sure you give plenty of time to study on weekends. So that you will not disconnect once you log in the next week. Try to stick to the schedule, and gradually, it becomes a habit. 

  1. Watch and learn 

Online Manipal offers self-paced video content that can be accessed and consumed on the go at the learner’s convenience. Depending on availability, you can choose to learn at weekends or evenings. A regular pace can help learners to understand and grasp the content quickly. E-tutorial comprises capsule videos for each topic that builds learner interest and help them understand the concept fast. Along with videos, the learner gets a recap of each module, Interactive videos in the form of the Sharable Content Object Reference Model (SCORM), and explainer videos to relate to the topic.  

You would not feel disconnected if you are actively engaged with all the above learning formats. You can switch between formats to get a hold of topics. 

  1. Read to learn 

E-content is available on the LMS for learners to go over the assigned readings of the units covered so far. E-content has a detailed explanation of topics so that one can skim through sections. If you feel you have less time in hand, you can run through the bold text in the e-content to save time and speed up your reading without losing comprehension. You can highlight important points while reading so that it can help in future reference. One can also look out for self-assessment questions to ensure learning effectiveness.  

Give yourselves a break from reading every 30 minutes – this will help the brain process and retain information for a longer time. 

  1. Practice note-taking  

While you are watching e-tutorials and/or reading e-content, make a practice of taking notes of concepts, ideas, phrases, and important dates. You can also make notes of keywords, draw concept mapping, and use numbers, letters, abbreviations, and symbols to memorise and organise the main topics. Try to remember examples so that it is easy to relate the theories. You can pick critical points from the transcript of the e-tutorial in case you missed any part of it.  

READ MORE: Tips for better note-taking during your online classes 

  1. Do not stress 

Set a weekly goal for yourself and avoid being critical if you do not meet your target. It may lead to counter-productivity and causes stress, which will make you less productive. Keeping a happy and positive outlook will help you overcome stress and anxiety and effectively deal with challenging circumstances. 

Conclusion 

If you are still wondering how an online MBA will help you with your career growth, be assured that spending your spare time learning will definitely be a steppingstone for your success. You can work smart to achieve a better academic score while working and enhancing your skills as a working professional. You can upskill and reskill your knowledge and elevate your career by enrolling with Online Manipal, which offers an opportunity to upgrade yourself with new-age professional courses and guided projects to get hands-on in collaboration with Coursera.

Difference between M.Sc. and MBA in business analytics programmes

If you feel like you’re reading about business analytics a lot, you’re listening to the proper people. Business analytics is a varied, booming sector that is attracting firms from a variety of industries, including technology, healthcare, and more—and now is the ideal time to join it.

The skills, statistical methodologies, and technologies that firms use to study and evaluate past business data and performance are referred to as business analytics. Executives receive critical insight into strategic decisions and corporate planning as a result of this effort. Let’s deep dive into the difference between M.Sc. and MBA in business analytics.

What role does a master’s degree play in a career in business analytics?

Business analysts and data scientists are in high demand, making master’s in business analytics an exciting subject to work in. Operational research analysts (who evaluate a company’s internal business risks) earn an average of USD 86,200 per year, according to the US Bureau of Labour Statistics, with anticipated job growth of 25% between 2019 and 2029—faster than other professions.

According to the research of data scientists’ and predictive analytics professionals’ (PAPs) wages, 83 percent of PAPs have an advanced degree (68 percent have a master’s degree and 15% have a Ph.D.). 94 percent of data scientists have a master’s or doctoral degree (50 percent and 43 percent, respectively). 

What is an MBA degree, and what does it entail?

MBA programs are aimed at giving students a broad understanding of how businesses operate; the skills and knowledge learned in an MBA degree may be applied to a variety of industries. An MBA program is meant for people who already hold a bachelor’s degree and have some work experience. Students examine the issues that real businesses face today and learn how to lead organisations through them. Whereas most full-time master’s degree programs last two years, MBAs are available in a number of formats and schedules to accommodate your individual needs.

What is an M.Sc in Business Analytics?

An M.Sc. in Business Analytics trains students to handle and analyse large data collections as well as commercial difficulties. Students learn in-demand programming abilities in programming languages such as SQL, Python, Apache Hadoop, R, and Spark as part of their study. They also develop and improve their interpersonal and communication abilities. With a master’s in business analytics, you’ll learn how to turn complex data into useful information that executives can use to make decisions.

What’s the difference between an MBA and an M.Sc. in Business Analytics?

The difference between M.Sc. and MBA in business analytics is that an MBA concentrates on the entire administration of enterprises, organisations, and projects, whereas an M.Sc. in Business Analytics is more analytical and concentrates on using data to make strategic decisions. MBA students strengthen their soft skills, such as problem-solving, teamwork, and communication, in addition to the technical skills required to run a business.

Curriculum

Coding, analytics, database management, and data mining, artificial intelligence (AI), and automation are all covered in an intensive M.Sc. Business Analytics program. In this master’s in Business Analytics, you’ll learn business planning, and communication with stakeholders. You may study law and ethics, but the emphasis is on analytic tools and methodologies.

An MBA program with a data science concentration — which covers statistical analysis, advanced analytics, and data management — provides a broader perspective on the corporate world. Operations, communications, stakeholder connections, negotiating skills, business model, as well as personnel, risk, supply chain, and financial management are all covered in this multidisciplinary programme.

Length of programme

An online MBA may take two years or longer to finish if you study part-time. This will be determined by the number of courses you are taking. The online M.Sc. in Business Analytics program, on the other hand, is usually shorter, lasting between 12 to 18 months along with projects and internships.

What may each degree be used for? 

While particular job titles may vary, MBA graduates typically work in the management field, managing people and budgets, coordinating projects, and evaluating progress and success.

Here are some entry-level career opportunities for MBA graduates:

  • Product Manager
  • Product Expertise
  • Business Adviser
  • Senior Financial Analyst
  • Project Manager
  • Manager of Information Technology (IT)
  • Marketing Director
  • Manager of Human Resources
  • Manager of Finance

Here are some entry-level work opportunities for M.Sc. Business Analytics graduates:

  • Data Analyst
  • Analyst for Business Intelligence
  • Senior Data Analyst
  • Consultant in Analytics

What are the requirements for each degree?

MBA and M.Sc. Business Analytics degree requirements differ by school, so check the admission criteria for the programmes you’re interested in.

The following certificates are required for MBA and M.Sc. Business Analytics programmes:

  • An undergraduate degree from regionally accredited college or university (domestic students) or a U.S.-comparable bachelor’s degree (international students)
  • Scores on the GMAT or GRE
  • IELTS/TOEFL score (this is a proof of English proficiency requirement for international applicants born in a country where English is not the official language)
  • An official certificate from each university, college, or community college that you have attended
  • Purpose Statement
  • Recommendation letters
  • Appropriate Application Forms (provided by the programme)

MBA programme – gained skills and competencies

An MBA program can help students build skills and competencies that will help them improve in the corporate world. These abilities include the following:

  • Leadership: MBA schools stress the need of providing direction to staff, explaining the company’s strategy, and taking responsibility for the quality of products and deadlines.
  • Liaison between corporate stakeholders and employees: Managers and leaders must act as liaisons between business stakeholders and employees. Students in an MBA program are exposed to various sorts of communications that occur in businesses and are required to practise both verbal and communication skills.
  • Data-driven decision-making: MBA graduates understand the necessity of making data-driven decisions. Being a leader entails more than simply giving the organisation direction; it also necessitates the creation of plans
  • Technical proficiency: MBA students are exposed to the expanding technology demands of the corporate world, from new software applications to the development and deployment of emerging technologies such as blockchain.
  • Companies seek out leaders who can motivate staff, are knowledgeable about their markets, and are efficient at seeing projects through to completion, thus developing these qualities is critical for individuals aspiring to managerial or C-level positions.

M.Sc. in Business Analytics programme – acquired skills and competencies

M.Sc. graduates frequently acquire the advanced abilities required to succeed in the industry. Among the skills learned are:

  • Critical thinking: M.Sc. Business Analytics coursework exposes students to a variety of difficulties that put their ability to solve problems logically to the test. Graduates usually join the job equipped to provide their companies with analytical and creative answers to business problems as a result of their practice.
  • Technical skills: M.Sc. Business Analytics programs focus on teaching students how to handle data mining, infrastructure management, and quantitative modelling. When recruiting these types of employees, firms search for these expertise.
  • Effective communication: Understanding how to perform the duties of, say, a data analyst and understanding how to convey to colleagues and executives how that business function delivers ROI are fundamentally distinct difficulties. M.Sc. Business Analytics programs help these professionals develop a language and communication style that accurately and clearly communicates the purpose and significance of their job to other employees and stakeholders.

M.Sc. Business Analytics graduates with these talents can find work in organisations looking for someone with the expertise, technical knowledge, and professionalism to help them grow their business.

What do businesses prefer?

While both an MBA and an M.Sc. can get you hired in the industry if you receive them from top universities and training institutes, they both require individuals to have analytical skills in order to make judgments and manage processes in the company. Both MBA and M.Sc. degrees can be quite effective in the analytics business. While the question of which degree is superior is frequently disputed, many employers place a greater emphasis on the talents that an individual brings to the table rather than the degree.

What’s the best degree for you?

There is no right or wrong option when it comes to choosing a degree programme! Both programmes are meant to help you advance your career in different ways. Consider whether you want to concentrate in data and analytics or develop general management abilities when selecting a programme. If you’re thinking of specialising, an M.Sc. might be the way to go. 

An MBA may be a good alternative for you if you wish to improve your company management skills. Whether you want to advance your existing work or seek new professional development options, a master’s degree will help you achieve your goals. So the question of MBA or MSc in business analytics which is better completely depends on your skill set and career requirement.

You can pick between a UGC-entitled online MBA and an online Master of Science in Business Analytics Programs at Online Manipal. You’ll find a demanding curriculum, world-class teachers, and plenty of networking possibilities here. While developing key relationships and honing your leadership abilities, you’ll discover how to solve today’s corporate difficulties. Whichever degree you pick, you’ll get the knowledge and skills you’ll need for the exciting future professions in business analytics and data engineering.

With an online M.Sc. Business Analytics or MBA from Online Manipal, you may choose the professional path that’s right for you and offer yourself a powerful advantage.

Data Analyst vs Business Analyst: What’s the difference?

Data analytics is all about analysing information to identify trends and insights that can then be used to make informed organisational decisions. Business analytics aims to evaluate numerous types of data to make realistic, data-driven business decisions and implement those decisions.

Before understanding business analytics vs data analytics better, let’s first understand the basic concepts. 

What is a business analyst?

Business Analysts (BAs) implement data analytics to join the gap between business and IT by establishing requirements, reviewing processes, and delivering data-driven suggestions and reports to executives and stakeholders.

BAs work with firm executives and users to discover data-driven modifications to processes, goods, services, software, and hardware that will save time and money. They must express these concepts while keeping in mind what is technologically, economically, and operationally feasible. Depending on your role, you might use data sets to improve products, technology, equipment, software, services, or processes.

What is a data analyst?

A data analyst collects, cleans, and assesses data sets in order to answer a question or solve a problem. They work in a variety of disciplines, including business, finance, criminal justice, science, medicine, and government.

Analytics brings together theory and practice to identify and share data-driven insights that assist managers, stakeholders, and other executives make better decisions in their businesses. Data analysts who have worked for a while consider their work in a broader context, both within their firm and in light of external factors.

Business analyst responsibilities and skills

To understand how to become a business analyst in India, we need to have business analyst and data analyst skills and responsibilities. 

  • Analysing and evaluating a company’s current business practices to identify possibilities for improvement.
  • Research and evaluate current company practices as well as new IT advances to make systems more modern.
  • Attending meetings and presenting ideas and conclusions.
  • Staff members are educated and coached.
  • Creating initiatives based on the company’s needs and requirements
  • Creating projects and keeping track of their development is a must.
  • User and stakeholder participation
  • Working with partners, clients, senior management, and technicians.

The skills of a business analyst include the following:

  • Understand Business Objectives. 
  • Critical and analytical thinking abilities. 
  • Interpersonal and communication skills. 
  • Cost-benefit and negotiation.
  • Decision-making skills. 
  • Programming Languages. 
  • Dashboard and creation of dashboards. 

ALSO READ: 15 key skills and tools business analysts needs to succeed

Data analyst responsibilities and skills

  • Statistical techniques are used to analyse and report data.
  • Development and implementation of databases and data collection systems
  • Data management and retrieval from primary and secondary sources
  • Patterns or trends in huge data sets can be detected, analysed, and understood.
  • Cleaning and filtering of data
  • engaging with management in order to identify and prioritise business and information needs
  • Identifying and detailing new process improvement opportunities

Scope of business analyst in India

Business analysts have played a critical part in reshaping the corporate environment for the better. To keep up with technological changes and stimulate business growth, they deal with problem-solving activities and provide data-driven insights for businesses.

Business analysts are in high demand among organisations, small businesses, and enterprises. According to study findings, the job market for business analytics would rise at a CAGR of 14.3% by 2026. Companies are willing to pay analysts, particularly certified expert-level workers, larger remuneration.

Scope of data analyst in India

Due to the rapid growth of internet users in India, the data analyst scope in India has exploded in the last decade. According to the World Bank, internet penetration increased from 20% in 2018 to 41% in 2019, with over 900 million new users predicted by 2025.

Are business analysts and data analysts the same?

Both data analysts and business analysts contribute to their firms’ data-driven decision-making. Business analysts are more active in addressing business issues and recommending solutions, whereas data analysts work more directly with the data itself.

What is the distinction between business analytics and data analytics?

Differences between data analyst and business analyst are varied according to their respective roles, skills, responsibilities, and career paths. Let’s look at them now! 

Business analyst vs data analyst: Job role

A business analyst’s job is to assist in the facilitation of a solution when a company needs to solve a present or future problem.

Many tasks are included in business analysis, including:

  • Establishing a business case
  • Examining the needs of the company
  • Understanding the needs of the company
  • Management and development of projects
  • Validating your ideas
  • Making well-informed decisions with the help of stakeholders
  • Performing quality assurance tests
  • Examining work practises, connecting with coworkers, and staying current with technology

The majority of a data analyst’s time is spent researching data and developing reports that demonstrate insights. The experts present their results to their respective groups. Individuals work in a more autonomous manner than business analysts.

A data analyst might be doing the following on any given day:

  • Cleaning up data
  • Creating and updating reports for various departments
  • Creating reports for both internal and external clients
  • Let’s look at the distinctions between a business analyst and a data analyst in terms of abilities and prerequisites.

Business analyst vs. data analyst: required skills

Business analysts usually hold a bachelor’s degree in business-related fields such as accounting, finance, or economics.

Business analysts must meet the following requirements:

  • Expertise in data analysis
  • Expert analytic ability and a mathematical mindset
  • The capacity to research and identify important data
  • SAP expertise that has been demonstrated
  • Excel, Word, and PowerPoint skills are essential.
  • SQL knowledge
  • experience in project management
  • Communication abilities that are strong

On the other side, data analysts are more focused on numbers. These individuals typically have a bachelor’s degree in a STEM field, as well as experience in computer programming, modelling, and predictive analytics. A Master’s degree is advantageous.

Data analysts must have the following abilities:

  • Analytical capabilities, intellectual curiosity, and reporting accuracy are all strengths.
  • A thorough understanding of data mining techniques
  • Knowledge of cutting-edge technology, data frameworks, and machine learning
  • Experience with SQL/CQL, R, and Python
  • Agile development methodologies knowledge

Business Analyst vs Data Analyst: Responsibilities

Data analysts assist businesses by evaluating data and presenting actionable insights to business stakeholders. Data analysts can also give competitive analysis or uncover business or market trends using their expertise.

They collaborate with:

  • Departments of information technology
  • Teams in charge of data handling
  • Scientists that work with data

The following are some of the roles of data analysts:

  • Statistical techniques are used to extract information from data.
  • Database administration
  • Increasing the efficiency and quality of statistical analysis
  • Obtaining information from primary and secondary sources
  • Detecting, analysing, and comprehending patterns or trends in large data sets
  • Data filtering, as well as finding and repairing code errors
  • collaborating with management to identify and prioritise business requirements
  • Identifying opportunities for process improvement

Business Analyst vs Data Analyst: Career path

A bachelor’s degree in a related field is required for entry-level data analysts. For senior positions, hiring managers generally prefer individuals with a graduate or master’s degree in analytics.

While both data analysts and business analysts work with data, the main distinction is how they use it. Business analysts study and analyse data in order to make better business decisions. Data analysts, on the other hand, work with information from an organisation’s logistical databases.

How to choose between a data analyst and a business analyst career?

Many business analysts begin their careers by earning a bachelor’s degree in business administration or a closely related subject. However, once they have their degree — whether it came from a college programme or an online Bootcamp — the next step is to get a foot in the door at a company.

Data analyst vs. business analyst salary in India varies according to their respective career paths. 

Business analysts frequently begin their careers in entry-level positions like quality assurance engineering, IT support, business administration, or junior business analysts. Prospective BAs can acquire exposure to different parts of a business, understand the needs of an organisation, learn how business decisions are made, and discover how data can be utilised to assist a company increase efficiency by working in these types of professions.

Is it better to be a data analyst or a business analyst?

The career path to becoming a business analyst aligns with the difference between data analytics and business analytics. However, the question arises can a business analyst become a data analyst?

The answer would be a big “NO” as they aren’t identical to each other. 

  • Get an undergraduate degree in Business Administration

You’ll need to learn some computer programming in addition to your business bachelor’s degree. Different levels of technical ability are required for different business analyst professions, but the more developed your programming skills are, the better you will appear as a candidate. The IIBA’s Business Analysis Body of Knowledge (BABOK) reference book is an excellent place to start learning about business analyst tasks and procedures.

  • Get work experience

You might start by volunteering for a small business or taking advantage of summer internship possibilities. Offer to work on the types of projects that business analysts work on if you are already employed by a company in another capacity.

Working as a business analyst requires a wide range of skills, so there are numerous transferable skills. Individuals can enter the area with experiences in a specialised business domain, such as workflow, billing, or customer relations, or with experiences in a broad industry, such as banking, telecommunications, or government. 

Once you’ve been hired as an entry-level business analyst, make sure to get as much experience as possible by working on a variety of projects; later, you’ll be able to specialise in the domain or industry you’re most interested in, and your experience will likely help you figure out what that industry is.

  • Obtain an Advanced Certificate or a master’s degree

Many colleges offer business analytics master’s degrees and graduate certificates, which often involve coursework in business data analytics, operations research, project management, database analytics, and predictive analytics. 

  • Get a foundational education

If you’re new to data analysis, you should start by studying the fundamentals. Gaining a thorough understanding of data analytics can help you decide if this is the right career for you while also providing you with marketable abilities.

A bachelor’s degree was once required for most entry-level data analyst jobs. While a bachelor’s degree is still required for many industries, this is beginning to change. Whereas a doctorate in maths, computer programming, or another related topic would help you build basic skills and boost your Portfolio, you can also learn what you need through professional certificate programmes, boot camps, or self-study courses.

  • Build your technical skills

Examine several job advertisements for occupations you want to apply for, and focus your studies on the programming languages or visualisation tools that are required.

In addition to these hard skills, hiring managers look for soft skills such as strong communication skills—you might be expected to communicate your findings to those who don’t have as much technical expertise as you do—problem-solving ability, and domain knowledge in the field you want to work in.

  • Work on projects with real data

Working with data in real-world contexts is the best approach to learning how to identify value in it. Look for degree programmes or classes that include real-world projects and data sets. You can also develop your own projects using a variety of freely available public data sets.

Investigate climate data from the National Centres for Environmental Information, dig deeper into the news with BuzzFeed data, or use NASA open data to find answers to emerging concerns on Earth and beyond. These are only a few instances of the information available. Choose a topic that interests you and get some data to practise with.

Final thoughts

We hope this post about what is the difference between business analytics and data analytics helpful in clarifying the distinctions between data analysts and business analysts. Because both occupations rely heavily on statistics, you must carefully assess your skill set and the subjective benefits and drawbacks of each job before deciding. However, because the two designations share similar characteristics, switching from one to the other at any time is not difficult.

Before hiring you as a data analyst, most employers would expect you to have prior experience working with data. You don’t have to wait to get hired to start gaining experience, fortunately. We are surrounded by data. 
Online Manipal offers comprehensive programmes that help develop and enhance the necessary skill sets. Choose from MSc in Business Analytics (MSc-BA) or PGCP in Business Analytics and other courses at Online Manipal and enrol in your desired course today!

What is Business Analytics: An overview

What is business analytics is a long-drawn question for most aspirants as they confuse business analytics with different courses like data science and business intelligence. Business analytics is the analysis and interpretation of data to provide insight into business operations and performance. It involves the collection, storage, and retrieval of relevant data, as well as making sense of it using specific tools such as spreadsheets and databases. Applications of business analytics are used in many industries to help decision-makers make better decisions by understanding how their business operates.

The term “business analytics” definition tells that it can be used in any industry where companies collect, store, or analyse data. However, many businesses use this term to describe their own analytical processes rather than referring to the broader field of business analytics.

The most common types of business analytics are:

1. Customer analytics 

This type of analysis uses data from customers’ interactions with your products or services to learn more about who they are, what they like, what they don’t like, etc. This helps you improve your products over time by providing insights into what customers want from their brands.

2. Organisational analytics 

This type of analysis looks at how people interact with each other within an organisation and how they’re performing their jobs. It can help managers identify workflow problems or opportunities for growth within the company.

How does business analytics work?

Business analytics is a field that has grown in leaps and bounds over the last decade. Understanding how it works is now more critical than ever, so you can use it to your advantage.

Business analytics meaning is all about using data to improve your company’s bottom line, and it comes in two primary forms: predictive analytics and prescriptive analytics. Predictive analytics uses data and algorithms to predict future events or trends based on past events. Prescriptive analytics uses data and algorithms to determine the best course of action for your company based on the collected data.

Both types of business analytics are used by companies large and small, including a wide range of industries from manufacturing to retail stores, from insurance companies to healthcare providers, from restaurants and hotels to tech firms like Google and Amazon. The critical difference between them is that predictive analytics usually involves predicting an event that hasn’t yet occurred, while prescriptive analytics looks at an existing situation and makes recommendations based on what they know about past outcomes or trends (which means they’re less likely to get things wrong).

What are the benefits of business analytics?

Business analytics is an integral part of your business that can help you make better decisions and improve performance. It’s also an essential tool for any business that wants to be successful. Here are some of the advantages of business analytics.

Here are some of the benefits of business analytics:

1) Business analytics helps you get more out of your data. You know how important it is to have accurate information to make good decisions. Business analytics helps you get more out of your data by allowing you to collect, analyse, and use data in previously impossible or too expensive ways.

2) Business analytics allows you to make better decisions quickly and easily. The quicker you can make a decision using data, the less time and effort it will take to implement it into your business operations—and the happier you’ll be as a result!

3) Business analytics saves money by reducing errors and risks in your operations through better planning, forecasting, risk assessment, risk management, financial control and analysis, cost management and control, etc. This will ultimately lead to increased profitability for your company or organisation, which will also increase its value over time due to higher earnings potentials from such activities due to increased efficiency levels being released throughout those operations in question here

4) Business analysts can use data to spot opportunities for growth and improvement, even when those aren’t readily apparent in the current state of the business. They can also help identify issues with the company’s operations that may have gone unnoticed if not for their analysis.

5) Business analysts can provide insight into customer behaviour and preferences, which allows companies to make better marketing decisions and develop products that better suit their customers’ needs.

6) Business analysts can improve productivity by providing insights into where resources should be allocated and how they should be allocated within a given timeframe.

What’s the difference between business analytics and business intelligence?

The terms “business analytics” and “business intelligence” are often used interchangeably. However, the difference between business intelligence and business analytics are not the same. In fact, there are at least three ways that the two terms can be used regarding a company’s information technology efforts.

The first way is when one refers to the use of data for analysis purposes. For example, if a business wants to know how many customers have purchased a particular product over the past month, it would probably use analytics methods like customer segmentation to determine which customers are most likely to purchase it.

The second way these terms can be used is when one refers to how data is collected from various sources and then analysed using standardised techniques such as statistical or predictive modelling techniques. For example, if a company wants to understand how many employees are leaving their organisation each year, they might use an employee turnover model and identify trends in this area so they can take action accordingly.

The third way these terms can be used is when one refers to the tools used by companies (and other organisations) to learn the strengths and weaknesses of the strategies carried out by the rival companies.

What are the common challenges faced in business analytics?

A Master’s in Business Analytics has been a hot topic for quite a while now. It seems to have a lot of traction in the market and is one of the most essential tools for any company to stay ahead of the competition. The following are some of the common challenges:

1. Using data to make decisions and solve problems is an essential skill, but it’s not easy to master. It requires time and effort, but it also rewards those who dedicate themselves to learning the craft of data analytics.

2. Business analytics can broadly impact a company’s bottom line, so it’s essential to know how to sell the results of your work to management. While there are many ways to approach this task, one thing is clear: if you want people in your company to trust you, they need to understand what you do and why they should pay attention to your work.

3. For business analytics professionals to succeed at their jobs, they need access to the right technology tools and software applications—and fast! They also need expertise in different areas of technology so that they can understand how each tool works and what it can do for them as employees within their company

4. A lack of knowledge about the subject area

5. An unclear understanding of what data is, what it means, and how it can be used effectively

6. Lack of exposure to different technologies and tools available in the industry.

How to learn business analytics?

Enrol in an online business analytics course

Instead of a full-time graduate degree programme, you might find it more convenient to enrol in an online certification program in business analytics. Working individuals can learn new skills that will help them succeed in their careers by taking an online class. At least one-third of all students now take at least one online course.

Using the power of your network is the fourth phase

To get the most out of your network, search for people who are skilled in business analytics, such as cost-benefit analysis. Then, ask them if they’d be prepared to share their knowledge and suggestions on how to improve your data understanding. Through networking, you can learn more about your field and develop new connections that can lead to exciting career improvements.

When it comes to mastering a new talent, consistency is vital. The more time you spend studying and using business analytics principles, the more swiftly you can contribute to crucial workplace discussions and decisions.

Obtain firsthand knowledge

No matter where you learn about business analytics, you should look for ways to put what you’ve learned into action in your day-to-day work. Or maybe your manager wants help generating data visualisations for an important meeting with stakeholders and you need someone to lead an A/B test to assess how beneficial a website upgrade is? Both of these cases call for the usage of your data skills.

Obtain an MBA

If you want to gain the data abilities required to solve complex business problems, you might consider earning a graduate degree. As more companies want graduates with strong analytical and technology skills, many MBA programmes in the United States are including data science courses in their curricula. Through the rigorous curriculum of a business school, you can learn how to construct and test hypotheses, investigate relationships between variables, and communicate statistical results to colleagues. 

If you combine the leadership and management courses in MBA programmes with the business analytics information you acquire in class, you may become a more capable, data-driven decision-maker.

Final words

Students should be able to use analytics to analyse data and make informed decisions about their careers. They should be able to identify the impact that different factors have on the business, such as cost and revenue.

They should also be able to analyse how different policies will affect the PG program in business analytics or how it affects different people within the company. 

.With world class teachers and curriculum at Online Manipal, you’ll find the perfect course for you along with needed skills. Enrol in the much-needed Business Analytics course today!

Rising demand for data science in India

Data science is a discipline that extracts usable insights from data by combining domain knowledge, computing abilities, and maths and statistics knowledge. Numbers, text, images, video, audio, and other data are utilised to construct artificial intelligence (AI) systems that can perform tasks that would ordinarily need human intelligence. 

Data science demand in India is growing day by day and many graduates in data science are beginning to form a revolution in this industry. 

As a result, the industry produces insights that analysts and business users can employ to create meaningful commercial value.

What caused the data analytics boom?

Businesses are generating, storing, selling, and sharing more data than they have ever before. Everything a company does is driven by customer needs, and organisations need data to make informed decisions.

“In the past, data was obtained by individuals,” said Stephen Beyer, PhD, department chair of Purdue University Global’s School of Business and Information Technology. Machines do not sleep when people do. As a result, people who can handle and make sense of this massive amount of data are needed in nearly every aspect of life.”

Data analytics: the absolute essential in today’s business world

As technology’s influence in many areas grows, vast amounts of data are generated that might provide useful insights into the subject. This has resulted in a growth in the data sector over the previous ten years.

Data gathering, on the other hand, must be supported with data analysis in order to get decision-making insights. Data analytics aids firms and sectors in making sense of massive amounts of data in order to expand and thrive. Investing in data analytics solutions can mean the difference between a successful company now and one that fails in the future.

How has the demand for data science changed after COVID-19?

In just the first quarter of 2020, data science jobs and the need for data science have increased by 56%. One reason for this was an increase in the industry’s desire to utilise data that was already available. Increased demand is also due to the trustworthiness of data sources and the effectiveness of analysis. It’s also due to the widespread availability of technology.

Data science jobs in Bangalore are increasing day by day and so are the data science jobs in India. The below-mentioned points are a few of the reasons why data science demand in India is on the rise. 

  • Fierce competition

It is not necessary for your next data science employment to be located in your current city. You’ve been able to explore new pathways in data science and collaborate with multinationals outside of your geographic region thanks to remote working and virtual recruiting.

This naturally raises competitiveness, and you’re suddenly up against someone with more experience and expertise from a different place. This is especially true for newer employees who are exposed to more competition.

On the other hand, you can apply for employment outside of India and earn higher pay. The average compensation of Indian data scientists is far lower than that of American data scientists, but you may close the gap now.

  • Easy to upskill

In a sector as dynamic and changing as data science, upskilling is a must. As more data scientists seek the same job post-pandemic, the demand for data scientists with diverse talents has skyrocketed.

Companies have additional options because of layoffs, and you’ll be competing with upskilled individuals who have obtained numerous certificates even before applying for the job. According to a LinkedIn poll, around 64% of employees have improved their skills as a result of the lockout.

And because firms no longer offer training programmes or in-person courses, the entire learning process is now on you. You won’t be able to adjust to the job as quickly or seamlessly if you work from home, but mastering those skills online will assist.

You should ideally enrol in a course to gather information, which you can subsequently apply to numerous settings.

Skills needed for data science need to be studied thoroughly by data science graduates, who look to establish a strong career in this field. 

  • Demand for contract-based hiring

Because firms are now depending on cost-cutting tactics, contract-based hiring has expanded post-covid. The number of freelancers hired has increased, as has the number of contract workers hired. Companies would be able to engage data scientists and analysts on a contract basis if they couldn’t afford to pay them well.

Data science demand in India constitutes contract-based hiring. The tendency is expected to continue until the economy picks up and the workflow improves. Contractual hiring is unquestionably advantageous to businesses. Unlike salaried employees, who must be paid even when there is a labour shortage, they only pay for what they use.

The trend has spread to positions in data science and analytics. Some companies may still consider these occupations to be secondary, and hence desire to save money by decreasing this department’s budget.

Benefits of a data science career

Data science job opportunities are plenty in number and so are the benefits of data science careers. 

  • The demand factor

The field of data science is extremely popular. With 11.5 million new jobs predicted to be generated by 2026, it is the fastest-growing job on Linkedin. 

  • Abundance of positions

Only a few people have all of the skills required to be a full-fledged Data Scientist. As a result, Data Science has a lower saturation rate than other IT disciplines.

  • A highly paid career

One of the highest-paying careers is data science. According to Glassdoor, data scientists make an average of 10,00,000 a year in India. As a result, Data Science is a highly profitable career path. Not to mention, data science freelance jobs, which are on the rise post-COVID-19. 

  • Data science is versatile

Data Science has a wide range of applications. In the healthcare, banking, consulting, and e-commerce industries, it is widely used. 

  • Product factor

Machine Learning has helped the industry to build better goods tailored specifically for user experiences thanks to Data Science.

E-commerce websites, for example, use Recommendation Systems to present consumers with customised insights based on their previous purchases. 

Scope of data science in India

In a developing country like India, there are plenty of places for data scientists, data analysts, big data engineers, big data managers, and data architects.

Becoming a data scientist has been a lucrative career option for the past several years. A variety of other factors, in addition to the growing relevance of data and the need to improve it, have driven the demand for data scientists in India.

With data being dubbed the “next oil” for businesses, analytics has evolved into a means of extracting useful information. The future scope of data science is being driven by the potent combination of both. Organisations all across the world are coming up with new methods to harness data and use it to advance their operations.

Why should you acquire data-driven decision-making skills?

Businesses can improve their performance by using data-driven decision-making to generate real-time insights and projections. They can then put various methods to the test and make well-informed company decisions for long-term growth.

There are a slew of reasons why using data to make decisions should be at the forefront of every modern company’s culture, and we’ll go through the most important ones.

  • Organisational growth

The characteristics of data in decision-making are consistency and constant growth. Companies may zero in on crucial insights based on a variety of functions, processes, and departmental activities using data-driven decision-making.

One data decision after another, executed consistently, will enable you to establish actionable benchmarks that lead to continuous development and growth, which are critical components for long-term success in today’s cutthroat digital world.

  • Innovation and knowledge

Companies are made or broken by data-driven business decisions. This demonstrates the value of online data visualisation for decision-making.

Companies that use a collaborative approach to decision-making are more likely to treat information as a valuable asset than companies that take other, more ambiguous approaches. 

You’ll also build a culture of data-driven education – a commercial ecosystem where everyone uses the power of information to learn more while working to the best of their ability – if you see digital insights as a genuine advantage.

  • New business opportunities

Data-driven decision-making results in the discovery of new and interesting business prospects. Drilling down into accessible visual data will provide you with a panoramic perspective of your company’s main activities, allowing you to make a series of sound decisions that will enhance your company’s commercial progress.

You’ll discover possibilities to increase your progress, make new professional contacts, and build ideas that will provide you a significant competitive advantage armed with the deep-dive insights that will improve your judgement.

  • Better communication

Working with a data-driven decision-making approach will help you become a better leader, which will spread throughout the organisation.

Working with compelling KPIs and visualisations will improve communication across the board, whether you’re talking about data-driven finance, a data-driven sales strategy, or any other form of insight-driven endeavour.

Every one of your departments will acquire the capacity to easily exchange insights and collaborate on crucial plans as a result of operating as one unified data-driven unit, making you more intelligent (and profitable) as a company.

  • Adaptability

Last but not least, one of the most significant advantages of data-driven decision making is that it allows your company to be extremely adaptive.

You may build and evolve your empire over time by adopting digital data, making your company more versatile as a result. To keep up with the ever-changing scene around you, you must use data to make more educated and strong data-driven business decisions.

Data-driven decision-making tools can help you stay on top of developing trends and patterns that affect not only your internal operations but also the industry at large. If you can gain a deeper understanding of these trends or patterns, you’ll be able to make informed judgments that will keep you competitive, relevant, and lucrative at all times.

Data science opportunities – industry-wise

Data science is one of the most promising and in-demand occupations for qualified experts. A data science profession is both rewarding and lucrative, but it is not simple to break into the area. Working in data science does not necessitate a bachelor’s or master’s degree. What’s needed is the right set of skills and knowledge.

  • Data analyst

Data analysts are responsible for a wide range of duties, including data visualisation, munging, and processing. They must also run queries against databases from time to time. Optimisation is one of a data analyst’s most significant talents. This is due to the fact that they must develop and modify algorithms that can be utilised to extract data from some of the world’s largest databases without causing data corruption.

  • Data engineers

Data engineers create and test scalable Big Data ecosystems for businesses so that data scientists may run their algorithms on robust and well-optimised data platforms. To boost database performance, data engineers also update existing systems with newer or improved versions of current technologies.

  • Data administrator

A database administrator’s job description is fairly self-explanatory: they are responsible for the proper operation of all of an enterprise’s databases and give or revoke services to corporate personnel based on their needs. They’re also in charge of database backups and restores.

Renowned companies recruiting for data scientists in 2022

Data scientists are in demand now and these are the top companies that hire data scientists.

  • Slack
  • Groundtruth
  • Datazymes
  • LoginRadius
  • Zycus
  • MAQ Software
  • Acquia
  • HCL Technologies
  • NVIDIA
  • Quartic.ai

Bottom line

Data science demand in India isn’t going away anytime soon. However, the profession is changing, and corporations are beginning to search for people who can solve problems using data.

This does not only apply to model making. When presented with a business problem, developing a machine learning model isn’t always the best solution.

A simple SQL query or visualisation may be all you need to know in some cases. Using machine learning approaches to solve every data problem is costly and time-consuming, which is why you need to know more. As long as you continue to study and build data-driven solutions, there is no automated tool that can replace a data scientist’s skill set.

Online Manipal offers online graduate, post-graduate and certificate programs designed perfectly for you. Enrol now!

15 key skills and tools business analysts needs to succeed

In today’s world, business analytics is a rapidly expanding discipline. To work as a business analyst, you must have a specific set of talents. All the necessary abilities will allow you to expand your firm and become a more successful business analyst. This article will clearly explain all of the skills required for business analysts.

Who is a business analyst?

Business analysts (BAs) are responsible for bridging the gap between IT and the business by assessing processes, determining requirements, and delivering data-driven recommendations and reports to executives and stakeholders using data analytics.

What are business analysts’ roles and responsibilities?

A business analyst is an essential member of any business project. Business analyst responsibilities include gathering information, documenting processes, and confirming final documents with users as the primary interaction between users and the project manager.

BAs are responsible for developing new models to assist business decisions by collaborating with financial reporting, and IT teams to develop strategies to improve importing and reduce costs. One needs a deep awareness of regulatory and reporting standards, plenty of experience in forecasting, budgeting, and financial analysis, and an understanding of key performance metrics.

Does business analytics require coding?

While knowing how to programme is beneficial for a career in analytics, knowing how to write code isn’t needed. Statistical software such as SPSS, SAS, Sage, Mathematica, and Excel can be used to manage and analyse data in addition to the above languages.

What business analyst skills are important to succeed?

A business analyst must be able to do various tasks, so they must have a diverse skill set that includes both business analyst technical skills and non-technical skills.

Here, we’ll go through the top fifteen important skills required for business analysts that are a must-have.

  1. Knowledge of statistics and probability

One of the most basic business analyst technical skills is knowledge of statistics and probability. Since a business analyst’s job is to find solutions from their data, statistics and probability methodologies will aid them in connecting the dots and arriving at solutions. A business analyst can use statistics and probability to better understand data and make more accurate forecasts.

  1. Programming skills

Business analysts often deal with data and associated coding. As a result, knowing a computer language is required to work as a business analyst. Business analysts can use programming languages like R and Python to assist them in dealing with large amounts of data. Database management systems are something that business analysts should be able to work with. Languages like SQL can enable them to extract, generate, and edit data from databases in this way.

A business analyst must be familiar with the following programming languages and databases:

  • Python
  • Oracle
  • R
  • MongoDB
  • MySQL and SQLite 
  1. Data visualisation capabilities 

Transforming raw data into actionable digital representations necessitates the use of data visualisation. Business analysts can use data visualisation abilities to help clients understand data and make strategic decisions that match their needs.

Scatter plots, time series sequences, polar area diagrams, timelines, line graphs, and other sorts of data visualisation techniques are utilised by business analysts. A business analyst must be able to use all of these tools to create beautiful and thorough representations.

  1. Familiarity with database and SQL

The knowledge of databases and SQL is the next ability that every business analyst should possess.

  • Business analysts usually work with structured data. They need to be familiar with relational databases such as Microsoft SQL Server, MySQL, Oracle, and NoSQL databases to store and process this large amount of data.
  • Every business analyst should have prior SQL familiarity. This will aid them in gaining access to, retrieving, manipulating, and analysing data.
  • They must write data definition and manipulation commands such as create, remove, select, update, and insert, among others.
  1. Communication skills

The most important of all the abilities required of business analysts is communication. The primary business analyst’s responsibility is to give business growth solutions. They should be able to share their ideas and opinions with their colleagues in such a way that their message is clearly and accurately communicated. 

It’s just as vital to be understood as it is to comprehend. You should be able to convey requirements to stakeholders and clients clearly and succinctly.

  1. Negotiation skills

A business analyst needs negotiation skills to operate as a bridge between an organisation’s IT or tech and business teams. To implement any business solution or idea, the business team and the tech or IT team must agree on the requirements and proposed solutions. To accomplish so, a business analyst must be able to negotiate numerous terms and conditions with both sides.

A business analyst must possess the following qualities to communicate with members of various teams:

  • Patience is essential to fully convey your idea and persuade your coworkers to follow your advice.
  • Creating a cordial environment by interacting with your coworkers or clients in a kind manner assists you in making them listen to your point and convince them of the same.
  • It is vital to be practical. People will only agree with you if you have realistic and attainable suggestions.
  • It’s sometimes necessary to be bossy. You may have to take the lead if the team is working on your idea. In such instances, you may be required to divide and lead the team members’ duties.
  • As you can see, negotiation skills are just as vital as any other talent when it comes to being a business analyst.
  1. Critical thinking

Since they must meet the client’s expectations with their data analysis, business analysts must be able to think critically. As a result, business analysts must examine data from many perspectives and prioritise business requirements.

Business analysts should focus on the data they acquire and their procedures to collect it because only flawless data can provide ideal results. As a result, business analysts should develop critical-thinking skills to meet varied business expectations.

The following are some critical thinking steps you can take:

  • Write down the question and make sure you understand it completely
  • Gather all of the necessary information
  • Make use of what you’ve learnt from the information you’ve gathered
  • Consider the ramifications
  • Consider different perspectives
  1. Decision-making

A business analyst’s job is to come up with solutions that will help the company expand. The results of a business analyst can have a significant impact on an organisation’s decision-making. Decisions based on a business analyst’s conclusions have the potential to outperform competition and catapult your company to new heights.

As a result, business analysts should consider twice before making any decisions. Business analysts can make great decisions if they have the ability to think about things from numerous perspectives and foresee alternative outcomes.

A business analyst’s decisions, directly and indirectly, impact the company’s operations. As a result, people should consider all factors before making a decision. They also make the final decision on whether or not a technological design meets the established business criteria.

  1. Problem-solving

Business analysts with problem-solving skills are more likely to succeed in their careers. A business analyst’s job is difficult at every turn, and they must be able to tackle these problems to succeed. Finding acceptable remedies requires careful consideration of the source and causality of an issue.

As a business analyst, you can use the following stages to address any business problem:

  • Determine the issue
  • Determine the problem’s root cause
  • Consider the problem from different perspectives
  • Look for a feasible answer
  • Determine the solution’s effects
  • Put the plan into action
  • Always go through the results to see how you might improve the solution
  1. Knowledge of Microsoft Excel

Excel is a sophisticated analytics and reporting tool that has been around for a long time. To find company trends, business analysts use Excel to do several computations, create reports, and run budget assessments.

Excel is a spreadsheet that makes it simple to manage and analyse data. You can quickly compute the relevant parameters by simply adding the proper formula. It is a simple programme to learn and operate with and aids business analysts in the preparation of documents and even decision-making.

  1. Documentation and presentation

Since business analysts analyse data, write reports, and create documentation based on the data, documentation is required. Business analysts might use documentation in client and team meetings to deliver their points properly and effectively. Clients may be impressed by the mix of extensive documentation and presentation skills. Business analysts might benefit from knowing how to use simple programmes like MS PowerPoint and MS Excel to create effective and engaging documentation.

They should confidently convey their project results and conclusions to stakeholders and clients. Business analysts can easily communicate technical concepts to non-technical personnel with well-organised documentation. It is important to write down project lessons so that they can make better decisions in the future.

  1. Being able to run meetings with stakeholders

Connecting with the customers over an email has been considered to be a professional, and standard procedure. However, it is not always the most effective method. Therefore, discussing problems with the client face to face can be more beneficial and even expedite the resolution of problems. One of the most significant abilities required of business analysts is organising and leading meetings.

CEOs often have a greater understanding of a project or an issue simply because they are more open in their contact with the other party. However, if an audit trail is required, the business analyst can always schedule a meeting with the customer by written confirmation.

  1. Ability to understand delegated objectives

It is essential to understand the requirements of the management or technical staff on a holistic as well as individual level. When information is received, there are often several gaps that the analyst must understand and fill in. Therefore, one of the most vital business analyst skills is the capacity to understand delegated objectives.

  1. Good listening skills

One of the most important skills required for becoming a skilled business analyst is the ability to listen. A skilled business analyst pays attention to details and absorbs them. This aids the analyst in thoroughly analysing the data to establish the needs.

It’s also important that the listener knows not just what’s being said but also the context in which it’s being spoken, such as the goal, the major motive, and the circumstances in which it’s being uttered. A business analyst should pay attention to the speaker’s voice, tone, and body language to understand the message clearly.

  1. Expertise in business and data analytics tools

To flourish, every business analyst must employ specific BA tools. Collaboration, requirement elicitation, project management, use case analysis, workflow management, and prototype creation are all the important areas where business analysts employ these tools. Business analysts employ a variety of application software that collects quantitative and qualitative data from various business systems and stores it in a repository. Analysts will be able to study and analyse the data to make better decisions.

Given below is a data analytics tools list that every business analyst should have expertise in:

  • Microsoft Power BI
  • Tableau
  • Google Data Studio
  • Zoho Analytics
  • Qlik
  • HubSpot
  • Freshworks CRM
  • Looker
  • Conclusion
  • DataBox
  • Intercom

Get skilled in business analytics

To become a successful business analyst, you can pursue the following courses:

M.Sc. in Business Analytics

MSc in Business Analytics will provide students with the methodologies and data analytical tools necessary to comprehend and interact with complex data to improve business performance. This programme is aimed to assist students in gaining the necessary skills and qualifications to pursue a career in business analytics.

PGCP in Business Analytics

This Postgraduate Certificate in Business Analytics is for working professionals who want to build a name for themselves in the fast-growing field of business analytics. The curriculum will teach students how to give consumers accurate, data-driven responses and how to address organisational challenges and develop corporate strategies utilising data.

The bottom line

Organisations rely on business analysts to steer them on the correct path and advise them on best practices to follow. Machine learning, AI, and IoT have the potential to have a huge impact on businesses and generate data patterns. The future is bright, and now is the time to upskill and achieve your professional objectives. Online Manipal offers some of the best courses like MSc in Data Science, MSc in Business Analytics, etc. Check out the website now!

Five advantages of using business analytics

Business analytics, or the operational and statistical study of company data, is becoming increasingly valuable to businesses of all kinds. Business analytics allows firms to streamline procedures, maximise profitability, and increase efficiency.

Professionals specialising in business analytics help firms make better decisions by providing them with insights. Those in this profession use data sets and prediction models to assist firms in obtaining a competitive advantage.

A career in business analytics may be both enjoyable and lucrative for those with a passion for analysis, good listening and communication skills, and superior writing and documentation talents. Those considering a career in business analytics may be interested to learn about job opportunities in the field.

Define business analytics

The advantages of business analytics are varied in number. First, we need to define business analytics in simpler terms. 

Business analytics (BA) combines techniques and technology for employing data analysis, simulation approaches, and other quantitative methods to solve business challenges. It comprises a systematic, iterative exploration of an organisation’s data to inform decision-making, concentrating on statistical analysis.

This is a field which brings together two different courses: business management and data analytics. It is like a stream with the benefits of both. With this course’s help, individuals can manage their businesses better with the help of statistical data. This, in turn, helps in upscaling a business.

Why is business analytics important?

Business analytics gives organisations a clear picture and understanding of how they might improve their efficiency by streamlining and automating activities.

It’s no surprise that organisations that are data-driven and embrace business analytics beat their competitors. This is because business analytics insights enable them to comprehend why specific results are obtained, investigate more effective business operations, and even forecast the likelihood of specific outcomes.

Business analytics also provides sufficient support and cover for companies seeking to make the best proactive decisions possible. 

One of the most obvious advantages of business analytics is that it aids in the gathering of crucial company information. This is performed by providing relevant facts to work with. 

One of the things that business analytics may help any organisation achieve straight away is efficiency. Since its inception, business analytics has played a critical role in improving firms’ efficiency. Business analytics gathers a vast amount of data promptly and in a style that makes it easy to examine. 

Business analytics can help you reduce risk. It can help businesses reduce short- and long-term risk by supporting them in making the best decisions feasible based on readily available data such as client preferences, trends, and other factors.

The business analysis also helps you to identify different segments of your business and classify them as assets and liabilities. In short, it helps you identify profits segment-wise. Business analytics helps you to transform raw data into fruitful results. This aids you in coming up with streamlined tactics that you apply to ensure the overall upliftment of your business as well as each segment individually. 

Top benefits of business analytics with a case study

Like any other course, business analytics also comes with perks. To understand where this course suits you, you must first understand its benefits.

  • Business analytics can assist you in measuring your progress

Your organisation makes progress in a variety of ways. You can lower your overhead and production costs, reduce debt, lower staff turnover, improve the return on your marketing investment, increase digital traffic to your social media pages and website, gain market share, increase repeat business, lower returns and customer complaints, improve receivables turnover, and lower your tax liability in addition to increasing sales. 

While attempting to enhance any of these areas may not appear to provide a significant return on investment, multiply that figure by ten or more, and you’ll see how a thorough and ongoing improvement programme spanning a wide range of areas can help your revenues surge.

  • It facilitates data-driven decision-making

Businesses can improve performance by using data-driven decision-making to generate real-time insights and projections. They can then put various methods to the test and make well-informed company decisions for long-term growth.

Staying ahead of the competition in the business world needs innovation. Data-driven decisions can help businesses adapt more swiftly to customer needs by bringing new and improved products to market. By examining data, you can foresee future patterns and identify solutions to problems that have remained unanswered in the past.

  • Analytics aids in the delivery of clear business insights

One of the most significant benefits of business analytics is that it enables you to display data in order to gain clear insights. The practice of expressing data and its insights using visuals or graphics such as pie charts, graphs, and other similar tools is known as data visualisation.

Your decision-making process will be a lot more efficient if you use detailed graphs and charts. You can quickly extract data from them, spot trends in your data, and generate more relevant and practical insights.

  • It keeps you up to date on market trends, allowing you to make more informed strategic decisions

Business analytics helps to analyse the current market trends with informed strategic decisions. To run any successful business, it is essential to follow these trends in order to make your business a success.

  • Business analytics can help you improve the efficiency of your processes

Business analytics can swiftly collect a large amount of data and present it in an understandable and appealing style to assist in the fulfilment of specific business objectives. By enabling staff to collaborate their ideas and participate in the decision-making process, analytics promotes a culture of efficiency and teamwork.

  • Enables companies to make an impact

Data analysis allows a company to better understand its business and the industry in which it operates, allowing it to make decisions that will help it grow. Business analytics provide the following:

  • Clarity

Knowing where a company sits in the industry or in a specific niche gives it the clarity it needs to design effective strategies to improve its future positioning.

  • Competitiveness

If a business does not examine the massive volumes of data it receives, it risks drowning in data and falling behind the competition.

  • Timeliness

Clear visibility into every part of the business allows for quick and easy decision-making that leads to excellent outcomes.

  • Stronger customer relationships

Analytics allows companies to gain insight into their consumers’ behaviour, needs, and pain points. It also allows a firm to gauge public perception of its brand, track the success of various marketing campaigns, and strategise how to improve its marketing strategy in order to cultivate long and fruitful customer connections. 

Case study

To understand the importance of business analytics better, Mainline conducted a case study. It turns out that with the help of this course, human-made errors were drastically reduced. There was more accuracy in the reports generated. Upon completing this course, people could comprehend and analyse data better, producing better and defined results.

Why should I pursue a career in business analytics?

If you have questions or doubts about why you must pursue business analytics or why you must opt for a career in it, here are the reasons.

  • It is a skill in high demand with little competition

Business analytics has become the go-to job of this century as more firms see the value of big data in terms of competitiveness and performance.

What makes pursuing a career in this industry even more appealing is that, even though demand has been continuously increasing over the last several years, the market’s supply side has yet to be saturated.

  • You’ll be prepared for a high-paying career

When it comes to business analytics, unlike many other fields, your professional background and previous experiences are irrelevant. Analytics may be used in almost any business, including entertainment, sports, education, manufacturing, insurance, banking, automotive, and other fields, making it extensively applicable and a simple transition from other fields.

  • You’ll learn valuable, in-demand skills

There is no such thing as a “typical” day for business analysts. They are constantly confronted with various obstacles as they work in various contexts and cater to clients with distinct requirements.

Furthermore, the nature of the position requires business analysts to interact with people from other departments, each with their own talents and expertise, which broadens their understanding of how a firm, and each of its departments, operate.

  • With data-backed insights, you can become a top performer

With the help of a course in business analytics, you will not just be able to understand the market and its needs better, but you will also help to plot that into numbers. 

  • The business analytics course will assist you in gaining a detailed understanding through data visualisation

Once you have a better understanding of data, you can visualise the growth of the company based on that. Developing products and strategies become much easier when thought in numbers. 

ALSO READ: Top career in business analytics

How do I begin my business analytics career?

To become a business analyst, you may need to acquire skills and qualifications relevant to the sector and industry you want to work in. Work experience, qualifications, and degrees can help you get a position as a business analyst. If you are looking for a course after your bachelor’s, Master of Science in Business Analytics or PGCP in Business Analytics might be a good choice for you.

This course is a two-year course which helps you to make your foundation stronger than ever. It shall help you get to the core of every problem. Handling concerns with better technical knowledge shall become your strong suit. 

This one-year course is specially designed for people who wish to get to the market faster. Here, the students are trained to analyse problems and come up with data-driven solutions which are far more effective. 

Final thoughts

Business analytics promise to triple the value of business data, opening up a slew of new development and expansion prospects. It assists business owners in making better financial, employee, marketing, and overall business strategy decisions.

It’s no surprise that demand for this field is always increasing! As a result, if you want to stay current and add value to companies, take advantage of this wonderful opportunity by enrolling in a business analytics school.
Furthermore, business analytics enables organisations to segment their customers depending on age, region, and product consumption. Not only can this help with a message and advertising, but it can also help a company figure out which consumer categories are the most profitable. Organisations identifying and focusing on important clients have a higher return on investment (ROI). Check out Online Manipal today if you wish to learn more about professional Business Analytics degrees and certification programmes.

Importance of data science in the current Indian IT market

What is Data Science? 

Why Data Science is important?

Data is one of the most crucial aspects of any company since it allows us to make decisions based on facts, statistics, and trends. Data science, a multidisciplinary field, emerged because of the expanding scope of data. 

For proper and efficient management and utilisation of data, the role of data science has a major scope in India and abroad. As per the tweet by Ronald Vanloon, every 60 seconds voluminous data is getting generated, which requires the usage of proper techniques for analysing, which in turn helps in better management of data at various data centres.  

This tweet even covers the aspects of all the ‘four Vs’ of big data – Volume which deals with the multiple scales of data; Variety which highlights the different forms of data coming from tweets, emails, mobile users, and many more; Velocity where-in data getting generated from various sources at a faster rate; and Veracity which refers to the correctness of the data. 

Scope of Data Science in the Indian IT market

Data science is a relatively young multidisciplinary field concerned with gathering, preparing, analysing, visualising, administering, and preserving vast volumes of data to extract value from the data. It helps in simplifying and analysing complex data.  

The Government of India has come up with encouraging initiatives under NITI Aayog’s National Policy on Artificial Intelligence ‘AIforAll’, an Industrial collaboration between India and Sweden, which meant for technology leadership in Artificial Intelligence for accomplishing the betterment of society.  

The Department of Science and Technology initiated the Data Science Research wing to investigate the nature of data and scientific challenges around data and potential real-world applications. Mathematical foundations, machine learning and knowledge discovery, storage, retrieval, search, privacy and security, and data science applications are among the wide areas of research on which DST focuses. Many works are announced in the healthcare sector to provide affordable and accessible services. These were to mention a few initiatives taken up by our government, which mark the expansion of the data science domain in the current IT market.  

Below are a few additional points to be considered: 

● Assists with the decision-making process 

● Increases data security in the organisation 

● Helps sales and marketing with target group optimisation 

● Optimise recruitment process by automation 

● Provides real-time business intelligence 

● Helps optimise organisation process and workflow 

Master’s in data science: Panchatantra strategies to take up Data Science career 

  • Stand out of the crowd: There is an information explosion in the field of data science. Hence, self-study will require many disciples. This is where courses, especially a Master’s in Data Science programme, come in handy. A master’s degree will help you set a path, define sub-goals, allow you to evaluate your progress, and create opportunities to interact with stalwarts in the field. Besides this, it would open avenues to job opportunities in this field. 
  • To become a scholar: A master’s degree in data science can help you learn how to collect, organise, and analyse data, spot trends, and offer accurate results. Data science is one of the world’s fastest-growing professions, and to stand out, you must have extensive knowledge and abilities in the field. 
  • Obtain an impressive salary: You can earn a good wage in your career if you have advanced abilities and expertise. In India, the average income for a data scientist is roughly INR 7 lacs per year. While entry-level experience can earn you INR 6 lacs per year, mid-level expertise can make you INR 10 lacs and more. And, because the need for data scientists is growing by the day, the salary is expected to rise by 10% by 2025. 
  • Acquire credibility with employability: A master’s degree, especially one that includes completing and defending a capstone data science project, will give the student who completes the programme credibility. The successful completion of such a project can demonstrate to potential employers that you can use data to solve real-world challenges. Right today, data science is relevant to almost every industry. Data scientists are in high demand in banking, healthcare, and technology. They work in academia, government agencies, and private non-profit organisations, among other places. This means that data science master’s degree graduates who are skilled and educated will be valuable additions to employers in nearly every field.  
  • Transitional and Prescient field: Data science is, without question, a fascinating topic of study. You will have the opportunity to go further into data science in your master’s degree than in your undergraduate studies. This means looking into issues you may not have the chance to look into before – and possibly discovering a field of expertise that truly excites you. 

Conclusion

Data science is an important element of technological advancement in today’s world. It plays a key role in the Information Technology sector as the digital transformation is in full swing in the sector. Being the biggest service industry in the world, the Indian IT sector is undergoing this tremendous change and now hunting for skilled data science professionals. The scarcity of talents is the major challenge they face in recruitment. Online degree providers like Online Manipal offer data science-focused programmes from prestigious universities like the Manipal Academy of Higher Education (MAHE). Currently, Online Manipal offers a UGC-entitled online M.Sc. in Data Science from MAHE that equips you to become a future-ready data professional. You can pursue the programme at your convenience using any smart device. You can learn more about the course on the Online Manipal website.