What is Portfolio Management? Definition, types, and benefits Managing financial investments is a crucial task for both individuals and organizations alike. It requires a solid understanding of the financial assets and identifying strategies to manage them effectively to maximize returns. This is where portfolio management comes in. Simply put, it is working the investments of an individual client or those of an organization to help them achieve their respective financial goals. This blog discusses in detail the Portfolio Management meaning and its importance for clients to meet their long-term financial objectives. Portfolio Management meaning Let us begin by understanding the definition of Portfolio Management. It refers to the process of choosing, prioritizing, and managing a collection of investments or financial assets/projects for individual or organizational clients to help them meet their financial objectives. The aim here is to maximize returns or profits on the investments within a specified period of time. Certain individuals are capable of handling well the role of portfolio management, meaning they are equipped with thorough knowledge and understanding in the domain to make informed decisions regarding buying and selling of financial assets. For others, however, the role of a Portfolio Manager is rather crucial and comes in handy. They assist clients (individuals and organizations alike) in making informed investment decisions concerning their financial assets or funds. They are responsible for designing and executing investment processes and strategies to help clients achieve their financial goals in the long run. Portfolio management, in general, aims to meet certain key objectives, some of which are defined below: Minimize risks for investors Maximize returns on investment for individuals and organizations Maintain financial liquidity Help achieve long-term financial goals for the investors Expand the investment base across varied financial assets Ensure consistent growth of investment returns in the long run The next section details the Portfolio Management strategies overview for your better understanding. Types of Portfolio Management Listed below are the various types of Portfolio Management strategies that Portfolio Managers execute to help their clients meet their desired objectives: Active portfolio management: This is one of the key methods that feature in the Portfolio Management strategies overview. Active Portfolio Management is more hands-on and the Portfolio Manager is responsible for actively overseeing and making appropriate adjustments to the portfolio, working in the role of a financial advisor. Passive portfolio management: Contrary to active portfolio management, passive portfolio management does not involve the regular purchase and sale of financial securities. It is also a low-cost strategy and thus appears attractive to budget-friendly clients. Discretionary portfolio management: This is yet another key technique in the Portfolio Management strategies overview where the Portfolio Manager is entrusted completely with responsibility for making investment decisions for the investor. In this case, the manager is responsible for creating a portfolio on the basis of the time frame, personal goals, and risk tolerance of the investor (client). Non-discretionary portfolio management: This is the last of the many types of Portfolio Management strategies. Unlike discretionary portfolio management, in this case, the investor holds the final decision-making power but the Portfolio Manager still plays the advisory role, offering financial guidance and assistance to the investor, as necessary. However, the manager must get the final approval from the investor. Benefits of portfolio management Portfolio Management plays an integral role for every individual and business organization alike. Listed below are some of the top benefits of Portfolio Management: Effective risk management: The importance of Portfolio Management can be determined by its ability to reduce and prevent risks related to investments. A well-managed investment portfolio helps investors assess potential risks and take timely corrective measures to prevent them. Professional guidance: Portfolio Managers are experts in their domain, offering guided assistance to investors with limited experience in the field. Through their professional services, investors are better able to make informed investment decisions. Diversified investments: This is one of the top benefits of Portfolio Management. It helps investors diversify their financial assets by lowering risks and optimizing returns or profits. Investors are better able to spread their investments across various sectors and classes, thus maximizing returns for optimal growth. Role of a Portfolio Manager We discussed the importance of Portfolio Management in the above section. Portfolio Managers play a key role in offering expert guidance to investors, helping them make informed investment decisions, reducing potential risks, and maximizing returns. Let us further understand the role of a Portfolio Manager. They inform their clients about the various investment tools available in the market, thus helping them make informed decisions on which investment plan would be most suitable for them. They are responsible for designing customized investment solutions for their clients as per their specific financial needs. A Portfolio Manager offers professional expertise and guidance to clients from time to time, enabling them to choose the best investment plan to increase their financial asset base. The average annual salary of a Portfolio Manager in India is approx INR 18,80,000 per annum. Conclusion The importance of Portfolio Management cannot be stressed enough for any individual or business organization. The expertise and knowledge that these professionals possess in their domain can be of immense help to make informed investment decisions and enhance the value of your financial assets. Take the first step to a rewarding career in Portfolio Management with an online MCom degree from Sikkim Manipal University. The institution offers this course on the reputed Online Manipal platform, allowing students to choose Portfolio Management as one of the electives in the program. Sikkim Manipal is an A+ NAAC-accredited university and all its online degrees are entitled by the UGC.
Recruiting vs Talent Acquisition: Key differences Recruiting and talent acquisition are two common terms seen on any job board or platform. However, the two terms are often confused with the other, as they are used interchangeably. The fact is that they are not the same. It is important to understand the differences between recruiting and talent acquisition so that you are not mistaken about the two processes the next time, whether you are an applicant or on the hiring side. This blog discusses recruiting vs talent acquisition in detail for better understanding. What is recruiting? To better understand the differences between recruiting and talent acquisition, let us begin by learning the meaning of the term ‘recruiting’. It refers to the process of identifying and hiring human resources to work for an organization. Recruiting is an integral part of Human Resources Management (HRM) and can be a rather elaborate process. What is talent acquisition? Moving on in the recruiting vs talent acquisition debate, let us explore how the latter is different from recruiting. Talent Acquisition refers to the process of identifying, analyzing, hiring, and also following best practices to retain the hired talent in an organization. As is evident, it is a relatively more complex process than recruiting, which is more than just hiring people to fill vacant job roles in a company. Key differences between recruiting and talent acquisition The table below summarizes recruiting vs talent acquisition using different parameters: Parameters RecruitingTalent acquisitionFocus Hiring for immediate job vacanciesHiring for the long runEngagement of candidatesImmediate and specific only to the job roleFocus on building relationships for the long termAssessment of talentBasic evaluation to determine whether a candidate is fit for the roleComprehensive evaluation to determine fit for long-term organizational goalsApproach Transactional Proactive Timeline Immediate/short-term Continuous Organizational brandingLimited focusStrong focus on brandingSelection criteriaSpecific to immediate requirements for the job rolePotential, skills, alignment of role with candidate’s values and ethics When to choose talent acquisition over recruiting? Now that we understand the key differences between the two, let us determine when to choose talent acquisition over recruiting, or vice versa. To put it simply, recruiting is a handy approach that you can use when you need to fill in an immediate job role. The role also generally involves standard skill sets. Talent acquisition, however, is the best technique when you or your organization has a more long-term plan of hiring qualified candidates for roles requiring specialized skills. This is because the prime focus of talent acquisition is to facilitate overall organizational growth in the future by aligning people to the company’s long-term goals. To better answer the question, “When to choose talent acquisition over recruiting,” here are some pointers that can help you decide: Consider the talent competition in your industry: Talent acquisition strategies are generally ideal when your industry is facing a shortage of top talent. In this case, hiring the best talent using a strategic, long-term approach may prove to be more beneficial in the long run and help you stand out as a leading recruiter in the industry. Consider your annual turnover: If your company has a low turnover and you hire only a small team every year, then recruiting can be sufficient to fill in the desired requirement. However, in case of high annual turnovers, you can consider investing in talent acquisition to build a significant pool of talent for long-term growth. Consider your business objectives: They play a key role in deciding which hiring strategy to use. Recruitment is the most ideal approach to follow if you want to meet more pressing hiring demands in the organization and long-term growth isn’t really your priority. If it is the latter, talent acquisition is of course the best move. Why talent acquisition is critical in modern workplaces This blog aimed at highlighting the key talent acquisition vs recruitment strategies that different organizations follow and understanding which one is ideal in what situation. It can thus be safely concluded that talent acquisition is perhaps one of the best bets in modern workplaces. This is because this strategy enables organizations to not only attract and hire top talent but also retain them for the long term. Such companies follow best talent acquisition practices to retain employees for the longer run, thus contributing to overall organizational growth. When deciding between talent acquisition vs recruitment strategies, the former inevitably stands out as it is integral to maintaining industry competitiveness, improving productivity and efficiency, and achieving long-term company objectives and growth. Conclusion Both recruiting and talent acquisition are important to every organization in their own unique ways. Which one to use though largely depends on the goals and priorities of the company. While recruiting is ideal to fill in short-term hiring requirements, talent acquisition is a more long-term approach to retaining top talent for overall growth and efficiency. This is why most modern workplaces allow scope for key recruitment and talent acquisition roles for suitable candidates. Learn more about both these techniques in Online MBA – Human Resources from Sikkim Manipal University. The course is available online on the Online Manipal platform and covers all integral topics such as recruitment, performance management, talent acquisition, employee relations, and more. Completing the course opens up key recruitment and talent acquisition roles in various industries and organizations.
Business Economics: Definition, types & importance Business Economics is a branch of applied economics that analyzes business operations using quantitative methods and economic theories. Through this analysis, organizations are better able to make informed business decisions. Thus, there is an increased demand for Business Economics, meaning several students are interested in learning more about the subject in the hope of rewarding career prospects. This article details everything you need to know about Business Economics, its meaning, types, and importance in business applications. Business Economics overview Let us begin by understanding Business Economics meaning and definition of the discipline for general understanding. Business Economics refers to a branch or field of Applied Economics and focuses on the various issues that organizations face concerning finance, the environment, and the market. Business Economics overview covers the detailed study of certain factors that impact organizations with the help of quantitative methods and economic theory. Business Economics includes the study of a wide range of topics, some of which include production and cost analysis, profit management, inventory management, resource allocation, and the like. All of these factors impact corporations and are thus covered in the Business Economics overview in relevant courses. To further understand this field better, we must gather a fair idea of the key principles defining Business Economics: Cost and benefit: This is one of the most important factors that consumers take into consideration when making an informed buying decision. It is thus covered in Business Economics studies. Incentives: This principle is based on the premise that consumers generally respond favorably to incentives offered by corporations. Incremental principle: It is also known as the principle of marginal analysis. According to this, all decisions must be based on a comparison between the cost incurred and the corresponding revenue benefits. Types of Business Economics Business Economics has many subfields within the main discipline that focus on different aspects. Listed below are the different types of Business Economics: Macroeconomics: It focuses on identifying the larger picture of a country’s economy and analyzing specific aspects that affect society at large. The metrics for Macroeconomics are inflation, GDP, and the rate of unemployment in the country. All of these have an impact on government policies concerning spending, taxes, and availing loans. Macroeconomics takes into account how these factors have an impact on both individuals and organizations and vice versa. Microeconomics: Contrary to Macroeconomics, this field of study focuses on the finer details of the national economy and is one of the most important types of Business Economics. It is also commonly referred to as the “analysis of individual economic agents’ behavior.” It studies the interaction of individuals and organizations with each other in the market economy. International Economics: As the name suggests, International Economics or Global Economics refers to the study of economic activities between different nations across borders. It specifically studies the interaction of countries with each other via the exchange of capital, goods and services, and labor in a global economy. Managerial Economics: The last on the list of types of Business Economics studies is Managerial Economics, also called Corporate Economics. It helps managers make informed decisions by analyzing a product’s demand-supply dynamics and its impact on profits for the organization. Importance of Business Economics Business Economics plays a key role in every organization in the decision-making process. The importance of Business Economics can be summed up in the following points: Business Economics offers assistance to managers in framing different policies. These include cost and pricing policies based on economic findings and analysis. Different concepts of Business Economics help managers determine and analyze problems and find appropriate solutions. These concepts include short-run and long-run costs, demand-supply analysis, and the Law of Diminishing Marginal Utility. Business Economics helps define relationships between varied economic factors, including profits, income, losses, and market structure. It enables managers to make informed business decisions. It also helps managers identify several internal and external business factors as well as their impact on the running of the company. It enables companies to forecast predictions based on the study of different economic variables. These include business capital, production cost, revenue generated, and the like. Business Economics applications in the real world Now that we understand the importance of Business Economics, let us look at a few Business Economics applications in real work environments. The study and knowledge of Business Economics can be practically applied to benefit in several ways, some of which include: Airline industry: Pricing strategies based on Business Economics can be applied to adjust the prices of tickets according to the availability of seats and real-time passenger demand. Manufacturing industry: This is yet another example of Business Economics applications in the real world. In the manufacturing sector, the cost of production can be analyzed using Business Economics to identify potential areas for lowering costs and improving operational efficiency. Retail industry: Sales data can be analyzed using Business Economics principles to forecast seasonal demand and optimize inventory for products such as holiday items, clothing, etc. Conclusion Business Economics plays an important role in every business organization, enabling corporations to make informed decisions and choices by bridging the gap between cost and revenue. By using Business Economics principles, businesses can thrive, improving operational efficiency, lowering costs, and increasing profits. Learn more about Business Economics in the online MCom course by Sikkim Manipal University. Offered on the Online Manipal platform, the course is designed to acquaint learners with the foundational concepts in Economics for managers and business and economic laws for smooth functioning of businesses in the real world.
New batch of Manipal University Jaipur’s online learners graduate with pride December 7th, 2024, was one of the most exciting days for our online students, because they were going to become GRADUATES! This was the 3rd Convocation for the online graduating batch of students of Manipal university Jaipur. This convocation was extra special, because for the first time, the undergraduate learners also received their certificates in-person, in the Manipal University Jaipur campus in Jaipur. After days of constant motivation and hard work, our online learners set foot into the real world. This was the third successful in-person Convocation held by Manipal University Jaipur for its online graduates. A total of 4,015 students of MBA (Master of Business Administration), MCA (Master of Computer Applications), MCom (Master of Commerce), and MA JMC (Master of Journalism and Mass Communication), Bachelor of Business Administration (BBA), Bachelor of Computer Applications (BCA), and Bachelor of Commerce (BCom) marked this milestone in their academic journey. The rest of the achievers, who couldn’t make it in person, will receive their well-deserved certificates both digitally and in hard copy. With more learners, the Convocation Day was bigger, brighter and better. Learners dressed in their best attires entered the sprawling MUJ campus to not only receive their degree certificates but also enjoy this milestone with their friends and family. Soon after a delicious spread for lunch, learners began prepping to receive their certificates. This time the stage was bigger too! Dr N N Sharma, who attended his first Convocation as the President, Manipal University Jaipur, addressed the batch of online graduates and said, “At MUJ, we prioritize our students’ overall development by providing access to affordable, online education. As of today, 78,000 students have taken admission for our online programs, of which over 6,000 students are from different countries. In addition to our existing offerings in Management, Commerce, Computer Applications, and Mass Communication, we are excited to launch more forward-looking certification programs. I take this moment to congratulate all our online graduates and wish them all the success in their professional endeavors. I am honored to say that we will continue to be a part of your future journeys.” Congratulating the online graduates, the Chief Guest, Mr Anil Vohra – Managing Director, Accenture, said, “My hearty congratulations to all passing online graduates of Manipal University Jaipur. Today is a day of reflection, as it marks the end of an era, and the beginning of something new. On this occasion, I would like to say that whether you are studying, working, researching, or running a business, excellence should be the word people should use to describe you. I would say, don’t just excel in your work, excel in your lives as well.” The online learners who attended the graduation comprised of freshers, working professionals from diverse backgrounds & industries and entrepreneurs. The convocation became an opportunity for learners to meet, network and connect with their peers. For the graduates on campus, the day was a thrilling celebration as they walked across the stage and proudly received their hard-earned degrees. Beyond the ceremony, students from diverse backgrounds united, forging lasting friendships and unforgettable memories.
What is a marketing consultant and how to become one? In today’s world, nearly every field and product’s success depends on how well it is marketed. The role played by marketing consultants in helping businesses improve their marketing strategies cannot be understated. They offer professional counseling on how to hit target markets, increase sales volumes and consolidate brand presence. This article explores what a marketing consultant does and how to become one. This will also help you gauge why it might be the right career path for you if you have all the necessary skills for this role. What is a marketing consultant? Marketing professionals work on planning to address the needs of the target audience of a particular company, recommending ways to attract customers and turn them into loyal ones. These duties are close to those of a marketing coordinator or marketing manager. Moreover, all of them require a degree or training in advertising, some skills and experience in the area of trade relations with customers. What does a marketing consultant do? Marketing consultants offer strategic advice to businesses on improving marketing tactics and growing. They are usually charged with evaluating current marketing programs and then pinpointing areas that require changes before proposing solutions that can help achieve these objectives. Here’s an overview of what marketing consultants do: Analyzing market trends and competition — Consultants analyze industry trends, consumer behavior and competition strategies to provide insights that could be useful in enabling their clients to remain ahead. Developing marketing strategies — Becoming a marketing consultant isn’t easy — developing comprehensive strategies that are customized to the company’s needs requires a comprehensive knowledge of the brand and exceptional work ethics. This may even involve digital marketing and other traditional methods – or a mix of the two. Optimizing digital marketing efforts — A digital marketing consultant focuses specifically on online marketing. They might also be required to be adept at helping businesses leverage the latest tools to optimize SEO, social media, email marketing, and paid ads — all to increase visibility and sales. Offering recommendations for improvement — They suggest ways to improve product positioning, branding, and customer engagement, ensuring that businesses achieve optimal results. Marketing consultants come with a view driven by data, ensuring that the information they share enables companies to make sound decisions that would improve their profitability. How to become a marketing consultant If you are thinking of becoming a marketing consultant or a digital marketing consultant, follow these steps. Get an education — While there isn’t a one-size-fits-all path towards becoming one most marketers have at least a bachelor’s degree in the field of either marketing or business studies. Many consultants also pursue advanced education through an online program from Manipal University Jaipur (MUJ) through Online Manipal’s platform, which offers flexible, UGC-entitled degrees. This program can equip you with both foundational marketing knowledge and specialized skills. Gain experience — Initially work within organizations’ marketing departments, managing campaigns, freelancing, and so on until you garner enough experience which may necessitate venturing into self-employment and starting your marketing consultancy. This way, you can best serve different customers because you have seen it all when operating from various industries. Choose a niche — Marketing is a huge field with aspects such as SEO, and branding content development among others. Focusing on just one area like becoming a digital marketer sets you apart from other consultants, thereby making it easier for you to attract clients looking for specialized expertise. Make a portfolio that showcases what you’ve done — It is important to have a strong portfolio that will give you credibility. This may call for documenting all successful marketing campaigns while also looking into the development of strategies that have worked wonders in the past before presenting these tangible results. This step will make sure that potential clients can reach out to you. Be aware of trends — The world of online marketing is continually changing. Attending webinars, reading publications related to this industry as well as taking courses like those provided by Online Manipal would keep you in pace with emerging trends on how best should be done marketing using online avenues. Skills required to succeed as a marketing consultant A successful marketing consultant needs technical expertise and creativity combined with interpersonal skills. Some critical ones include: Analytical thinking — The capacity to scrutinize numbers for patterns alongside assessing current promotional activities. Communication abilities — Enterprises call for a clear message delivery system among stakeholders, be it face-to-face or written way of relaying information. Innovative solution finder — Specialists in promoting products/services come across unusual scenarios that demand inventiveness and presence of mind on their end. Managing projects — When undertaking several assignments for numerous clients at the same time, managing time to meet deadlines is essential while supervising many sales plans or advertising campaigns concurrently also requires this skill. The ups and downs of business marketing consulting Business marketing consulting is full of opportunities but it’s not without challenges. Consultants often work with businesses dealing with different marketing challenges – ranging from customer acquisition to increasing brand awareness. Here are some of the pros and cons associated with such careers: Pros: Demand for marketing knowledge is high across industries. They can offer their services to various clients and sectors, hence increasing flexibility. Individuals who have expertise in certain areas may earn high revenues through offering consulting services. Cons: High expectations of delivering desired results for clients. It is very competitive. One needs to keep on improving oneself as well as networking. Why choose Online Manipal for your marketing education? As one embarks on the journey towards being a marketing consultant, consider joining an online degree program through Online Manipal. The platform provides courses from reputable universities such as Manipal Academy of Higher Education (MAHE), Manipal University Jaipur (MUJ), and Sikkim Manipal University (SMU). Through them, you can access content that is industry-focused without necessarily being in a class setting. There are also online scholarships that will assist students when they require funding assistance. This way, it becomes accessible to everyone who dreams of becoming a successful market consultant but may not afford higher education due to their financial situation. Online Manipal also offers benefits like scholarships, placement assistance, as well as networking avenues that ease the transition into marketing consulting. When you take part in webinars organized weekly by eminent industry heads, your skills remain up-to-date because you are informed about any emerging marketing trends. The bottom line What marketing consultants do is essential for businesses aiming to improve their marketing strategies and overall marketing performance. If you’re interested in becoming a marketing consultant, you’re in for a ride. By gaining specialized knowledge, through an online program via Online Manipal, you’ll be well-prepared to offer valuable insights and solutions to businesses. It’s a career that requires both, education and hands-on experience. Start your journey today and explore the potential of a marketing consulting career that can offer flexibility, high earnings, and the opportunity to make a significant impact. 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Application of data science in healthcare Data science has transformed healthcare by discovering insights hidden in vast volumes of medical data. It predicts disease outbreaks and personalizes treatment plans, thereby empowering researchers and doctors with data-backed decision-making tools. Technologies such as advanced analytics, machine learning, and artificial intelligence improve diagnostic accuracy, enhance patient outcomes, and maximize operations, thereby demonstrating the actual value of data science in medical diagnosis and other aspects of healthcare. For example, the University of Kansas Health System has used predictive analysis and machine learning to identify patients who have a high risk of readmission. This way, it reduced 30-day readmission rates by 52% for patients with heart failure and 39% overall. In Healthcare, the most prominent applications of data science are evident in genomics, drug discovery, and real-time monitoring through wearable devices. Data science connects the dots between medicine and technology, thus reshaping patient care. These truly demonstrate the importance of data science in healthcare. Also Read: Career transitions made easy with MAHE’s MSc in Data Science What is Data Science in Healthcare? The role of AI and Data Science in healthcare is to enhance patient outcomes, expedite biomedical research, and optimize operations across the entire healthcare spectrum. The most prominent components of data science applications in hospitals and the overall healthcare system may be described as below: Data Acquisition and Processing Data science gathers and cleans massive datasets. It gets such data from different sources and often it is fragmented, from different sources. The wearable devices, clinical imaging, and patient health records stored electronically all contribute as the data source. Analytical Techniques It uses scientific methods, statistical analysis, data mining, and machine learning algorithms for processing and interpreting the data. Interdisciplinary Expertise Data science also merges knowledge from medicine, informatics, statistics, and computer science to understand findings and apply them effectively. Also Read: BCA in Data Science & Analytics – Career Opportunities, Salary Insights & More Key Applications of Data Science in Healthcare The following table enumerates the key applications of data science in medical diagnosis and other aspects of healthcare: Broader AreaSpecific ApplicationsClinical Applications Precision Medicine Improved Diagnostics Support for Clinical Decisions Remote Monitoring of PatientsResearch and Development Drug Development and Discovery Genomics Clinical Trials Operations and Public HealthForecasting Disease Outbreaks Streamlined Operations in Hospitals Cost Reduction Patient Engagement and Management Improved Patient Self-TrackingEnhanced Patient Outcomes and Care Precision Medicine Data science makes customized treatment plans and enhances treatment outcomes for individuals by analyzing genomic, patient, and lifestyle data. Improved Diagnostics Machine learning algorithms and AI detect diseases with greater accuracy by analyzing medical images like X-rays, CT scans, and MRIs. Support for Clinical Decisions Data science helps healthcare providers make evidence-backed decisions on treatment and patient care by providing them with data-driven tools and insights. Remote Monitoring of Patients Data science facilitates the prevention of complications and timely intervention through using data from devices like wearable devices and monitoring the patients’ health parameters from remote areas. Drug Development and Discovery Data science analyzes huge datasets and quickens the slow, high-risk, and expensive process of developing new drugs. Genomics Data science understands diseases and finds anomalies at the genetic level by analyzing genomic data. Clinical Trials Data science modernizes and optimizes clinical trials to lower expenses, enhance efficiency, and quicken the process of testing new treatments. Forecasting Disease Outbreaks Data science predicts potential disease outbreaks by analyzing varied datasets, which helps improve response efforts and overall public health planning. Streamlined Operations in Hospitals It is one of the biggest example of the use of predictive analytics in healthcare for enhanced resource management. This way, data science predicts patient admissions, equipment needs, and staffing requirements. Cost Reduction Data science helps in cutting costs and expenses without compromising care quality by identifying inefficient resource wastage and areas of wastage. Improved Patient Self-Tracking Data science offers patients insights and tools to monitor their own health data, that enables them to control their health more effectively Enhanced Patient Outcomes and Care The largest advantages of applying data science in medicine include more precise diagnoses, better patient condition management, and tailored treatments. This information highlights the importance of data science applications in hospitals and the broader healthcare sector. Read More: Are Data Science Jobs in Demand? Benefits of Data Science in Healthcare The table below demonstrates the benefits and importance of data science in healthcare: Broader AreaSpecific ApplicationsBenefits for Patients Personalized MedicinesBetter Patient Outcomes Improved Patient Engagement Benefits for Healthcare Operations and Providers Improved Diagnostic Accuracy Streamlined Operations Optimized Workflow Benefits for Research and Development Quicker Drug Discovery Progress in Medical Research Benefits for the Healthcare System Health Management of Populations Cost Reduction The following section describes in detail the beneficial role of AI and data science in healthcare: Personalized Medicine Data science yields more fruitful medical outcomes for individuals by enabling the tailoring of care and treatment plans based on their unique genetic data and medical history. Better Patient Outcomes Early detection tools and predictive models help in identifying high-risk patients. This allows proactive interventions that improve overall health by preventing diseases. Improved Diagnostic Accuracy Data science helps spot subtle patterns that indicate diseases like cancer by using machine learning and AI-driven tools to analyze patient records and medical images like X-rays, MRIs, and CT scans with more accuracy. Streamlined Operations Predictive analytics allow hospitals to reduce bottlenecks and allocate facilities and staff with greater efficiency by helping predict resource requirements and patient admissions. Quicker Drug Discovery Data science analyzes massive datasets from chemical and biological research, and in doing so, it speeds up the identification of new drug targets and potential drug candidates. This, in turn, quickens up the speed at which new medications are developed. Progress in Medical Research Data science assists researchers to better understand complex health issues and recognize new disease trends by integrating data from clinical trials, genomic studies, and electronic health records. Health Management of Populations Data science leads to improved community health results and targeted interventions by empowering healthcare organizations to analyze huge data and recognize risk factors and patterns in specific demographic groups. An Interesting Read: Why a PGCP is the Best Way to Upskill in Data Science Future of Data Science in Healthcare The following list enumerates the most prominent future trends of the application of big data in healthcare analytics and other aspects of healthcare: Precise and Customized Medicines AI-Powered Treatment and Diagnostics Predictive Analytics to Prevent Diseases Improved Monitoring of Public Health Enhanced Accessibility and Telemedicine Streamlined Resource Allocation and Operations Faster Drug Discovery Now, let us explore some of these future applications of predictive analytics in healthcare in more detail: Precise and Customized Medicines Data science will lead to safer and more effective therapies by facilitating treatments that are customized as per individual genetic profiles, environmental factors, and lifestyles. AI-Powered Treatment and Diagnostics Artificial intelligence will make disease diagnosis and detection quicker and more accurate by improving the analysis of medical images, patient records, and genetic information. Predictive Analytics to Prevent Diseases Data science models will analyze historical data to identify populations at high risk of suffering from diseases like cancer. This, in turn, will enable the implementation of proper preventive measures and early intervention. Improved Monitoring of Public Health Data science will enable informed policy-making and timely responses by monitoring global health trends like health disparities and disease outbreaks in real time. Challenges and Ethical Concerns The following are the most significant ethical concerns and challenges facing the application of big data in healthcare analytics: Consent and Privacy Data Integration and Quality Algorithmic Bias Compliance and Regulatory Issues Absence of Transparency and Accountability Integration with Current Systems Data Security Informed Consent Now, let us explore some of these points in greater detail: Consent and Privacy A significant risk of using data science in healthcare is that the sensitive health data of patients could be misused or exposed without their permission or knowledge. Data Integration and Quality Healthcare data often tends to be fragmented, incomplete, and inconsistent, and these issues can make data science efforts complicated. Algorithmic Bias Algorithms can learn biases in the historical data used to train them and propagate them further. This can lead to discriminatory and biased outcomes for specific demographic groups while diagnosing them or recommending treatments. Compliance and Regulatory Issues The use of AI and data science in healthcare often evolves faster than existing regulatory and legal frameworks, and this can make complying with them significantly complex. Absence of Accountability and Transparency Many complex algorithms operate as black boxes, making it difficult to understand how they make their decisions. Check This Out: PGCP Data Science Course Guide Conclusion Data science is transforming healthcare with predictive analytics, individualized treatments, operational effectiveness, and significant cost savings. The diagnostic accuracy is improving, and hospital readmissions are also reducing; this is consequently transforming the manner in which care is delivered and experienced. Due to the progress of machine learning, AI, and big data, healthcare will be more precise, patient-focused, and preventive in the days ahead. As a professional or a student, the time is right to explore upskilling opportunities and careers in healthcare data science. So, if you wish to take that next step, now explore specialized data science programs from the leading educational platforms like Online Manipal and become a part of the revolution that is improving lives all over the world. You Might Also Like: Difference Between Data Science and Big Data FAQs 1. What is the role of data science in healthcare? Data science alters healthcare by using predictive analytics to help with early risk prediction and diagnosis, and using AI to quicken up the speed of research for discovering new drugs. 2. How does data science improve patient care and treatment outcomes? Data science improves treatment and patient care with personalized medicines, better population health management by identifying at-risk groups requiring targeted intervention, and early disease detection by using technology like predictive analytics. 3. Can data science help in disease prediction and prevention? Yes, data science can be of significant help in predicting and preventing diseases. It does so by analyzing heterogeneous health data to discover patterns, forecast individual risks, and predict outbreaks. 4. What are some real-world applications of data science in hospitals? The most prevalent real-world uses of data science in hospitals are predictive analytics to avoid disease and hospital readmissions, and tailored medicines for treatments. 5. How is data science used in drug discovery and clinical research? Data science analyzes vast datasets to determine potential drug candidates, design more efficient clinical trials, and predict safety and efficacy to quicken up the process of drug discovery. 6. Is data science in healthcare different from general data science? Yes, healthcare data science is a domain-specific form of general data science and is directed at specific healthcare use cases and data to improve patient outcomes, aid in clinical decision-making, and optimize operations.
Best jobs in IT sector that don’t need coding skills The field of Information Technology (IT) has long been hailed as one of the most lucrative and sought-after domains for career growth. The rapid advancement of technology and the increasing reliance on digital solutions have led to a surge in demand for IT professionals. However, there’s a common misconception that a successful career in IT requires advanced coding skills. The truth is, that not all IT jobs require programming expertise, and there are plenty of non-coding IT jobs with high demand and high earning potential. Benefits of pursuing a career in IT Before delving into the specific skills for non-developer roles in IT, let’s first understand the broader advantages of pursuing a career in the IT sector. Here are some key benefits: Lucrative salaries: IT professionals are among the highest-paid in the job market. Even non-coding roles in IT offer competitive salaries that can lead to a financially rewarding career. High demand: The IT industry constantly evolves, creating a perpetual demand for skilled professionals. Non-coding IT jobs are no exception and often face a shortage of qualified candidates. Career growth: The IT sector offers a clear path for career advancement. With experience and expertise, you can climb the corporate ladder and take on leadership roles. Specializations: IT encompasses a wide range of specializations, allowing you to choose a career path that aligns with your interests and strengths. Continuous learning: Technology is always changing, and the IT sector requires professionals to stay updated. This constant learning ensures that your skills remain relevant and in demand. Flexibility: Many IT jobs, including non-coding roles, offer flexible working arrangements, such as remote work options and flexible hours. Global opportunities: The IT sector transcends geographical boundaries. Your skills can be in demand worldwide, providing opportunities for international careers. Innovation and problem-solving: IT professionals are at the forefront of innovation. You’ll have the chance to work on cutting-edge solutions and tackle complex challenges. Also Read: 10 reasons why you should choose an online MBA in India Top IT jobs that don’t require coding Now that we’ve established the numerous advantages of pursuing a career in IT, let’s dive into the specific non-coding IT jobs with high demand. 1. UX Designer UX, which stands for User Experience, focuses on the interaction between humans and technology. UX designers work to ensure efficient communication between users and digital interfaces, whether it’s an app, website, or software. They conduct user research, design intuitive interfaces, and enhance the overall user experience. Skills needed: User research, wireframing, prototyping, usability testing, proficiency in tools like Adobe XD, Figma, or Sketch. Salary: INR 20 L per annum 2. Technical Writer Technical writers are crucial in producing brief and clear documentation for goods and services. For certain audiences, they provide user guides, technical reports, and documentation. Working with subject matter experts, this function entails gathering knowledge and turning it into user-friendly documentation. Skills needed: Excellent writing skills, knowledge of style guides, ability to work with subject matter experts, and adaptability to various writing formats. Salary: INR 13 L per annum 3. Graphic Designer Graphic designers focus on the visual aspects of products and services. They are responsible for creating visually appealing designs, whether it’s for product packaging, advertisements, websites, or branding. While coding skills can be beneficial, many graphic designers work in supporting roles without extensive coding requirements. Skills needed: Graphic design software proficiency (e.g., Adobe Creative Suite), creativity, and an eye for aesthetics. Salary: INR 6.5 L per annum 4. Data Analyst Data analysts gather, clean, and interpret data to provide valuable insights for decision-making in organizations. They work across various industries, helping businesses understand customer behavior, trends, and more. Data analysis involves using tools and statistical methods to extract meaningful information from datasets. Skills needed: Data analysis tools (e.g., Excel, Tableau), statistical knowledge, data cleaning, and visualization. Salary: INR 11.5 L per annum 5. Business Analyst Business analysts bridge the gap between customer expectations and technical feasibility. They thoroughly understand customer requirements and ensure that they align with technical capabilities and constraints. This role demands a strong grasp of technical fundamentals and the ability to recommend effective solutions. Skills needed: Business acumen, requirements analysis, communication, and a good understanding of technical concepts. Salary: INR 15.2 L per annum 6. Digital Marketer Digital marketers are responsible for promoting businesses and brands through various online channels. They use digital communication channels such as social media, email, and web-based advertising to generate leads and enhance brand awareness. While smaller organizations may have generalists, larger ones often employ specialists for specific digital marketing channels. Skills needed: Digital marketing strategies, content creation, social media management, and SEO knowledge. Salary: INR 18.4 L per annum 7. Network Administrator Network administrators oversee the maintenance, security, and troubleshooting of computer networks within organizations. Their responsibilities include configuring network hardware and software, setting up virtual private networks, and ensuring network security. Skills needed: Network configuration, troubleshooting, network security, and knowledge of network hardware and software. Salary: INR 9 L per annum 8. Software Quality Tester Software quality testers ensure that software applications function correctly by developing test scenarios, identifying risks, and documenting issues. They work closely with developers to ensure the efficiency, effectiveness, and security of the source code. Skills needed: Test case development, risk identification, and familiarity with programming languages. Salary: INR 7 L per annum 9. Project Manager Description: Project managers oversee specific projects, manage cross-functional teams, and ensure project success. They require in-depth domain and business knowledge and often work with developers, designers, and testers. While coding skills can be beneficial, project managers focus on budgets, timelines, and resource management. Skills needed: Project management, communication, leadership, and domain expertise. Salary: INR 28 L per annum 10. Scrum Master Scrum masters specialize in implementing Agile project management principles, focusing on collaborative work for complex projects. Originally associated with IT, Scrum masters are now sought after in various industries globally. While coding knowledge is valuable, it’s not a strict requirement. Skills needed: Agile project management, team collaboration, and leadership. Salary: INR 26 L per annum These career paths for IT professionals without coding offer competitive salaries. While foundational knowledge of technology is beneficial, these roles provide ample opportunities to learn and grow on the job. JobKey responsibilitiesRequired skillsUX DesignerConducting user research, designing intuitive interfaces, and enhancing the overall user experience.User research, wireframing, prototyping, usability testing, and proficiency in tools like Adobe XD, Figma, or Sketch.Technical WriterProducing brief and clear documentation for goods and services.Excellent writing skills, knowledge of style guides, ability to work with subject matter experts, and adaptability to various writing formats. 1Graphic DesignerCreating visually appealing designs.Graphic design software proficiency (e.g., Adobe Creative Suite), creativity, and an eye for aesthetics.Data AnalystGathering, cleaning, and interpreting data to provide valuable insights for decision-making in organizations.Data analysis tools (e.g., Excel, Tableau), statistical knowledge, data cleaning, and visualization.Business AnalystBridging the gap between customer expectations and technical feasibility.Business acumen, requirements analysis, communication, and a good understanding of technical concepts.Digital MarketerPromoting businesses and brands through various online channels.Digital marketing strategies, content creation, social media management, and SEO knowledge.Network AdministratorOverseeing the maintenance, security, and troubleshooting of computer networks within organizations.Network configuration, troubleshooting, network security, and knowledge of network hardware and software.Software Quality TesterEnsuring that software applications function correctly by developing test scenarios, identifying risks, and documenting issues.Test case development, risk identification, and familiarity with programming languages.Project ManagerOverseeing specific projects, managing cross-functional teams, and ensuring project success.Project management, communication, leadership, and domain expertise.Scrum MasterImplementing Agile project management principles, focusing on collaborative work for complex projects.Agile project management, team collaboration, and leadership. Progress in your career with online courses on Online Manipal Are you ready to take the next step in your IT career without extensive coding skills? By pursuing various courses online from prestigious Manipal universities through Online Manipal, you can advance in your chosen field. Here are some key benefits of choosing Online Manipal for your online education: The online courses are delivered through a state-of-the-art LMS, ensuring a seamless and engaging learning experience. Online Manipal provides placement assistance to help you secure your dream job in the IT sector. You’ll learn from industry experts and experienced faculty members who bring real-world insights to the virtual classroom. Also, one can gain valuable insights from industry leaders through webinars and guest lectures. You can also read the MBA Operations Management course guide Conclusion The IT sector offers a multitude of non-coding career paths with high demand, competitive salaries, and growth opportunities. Whether you’re considering transitioning into the IT industry or seeking to advance your existing career, the diverse world of non-coding IT jobs holds immense potential.Explore the online programs available on Online Manipal and take the first step toward IT career growth opportunities sans coding. Remember, the IT industry is not just for coders but anyone with a passion for technology, problem-solving, and innovation. Embrace the possibilities, upskill, and unlock a world of opportunities in the IT sector.
Top HR activities: Guide to HR functions The most important asset of an organization is its human resource, i.e., its employees and workers. The Human Resource Management activities include the activities of recruiting, training and development, performance appraisal, compensating, rewarding, and ensuring the safety and welfare of the human resource. In this article, we will see the top HR activities. LIST of top HR activities Alignment and integration of organization plan with the Human Resource requirements Planning of Human Resource Recruitment of Human Resource Regular evaluation and monitoring of performance Taking steps to keep the employees motivated Training and development Rewards and compensation Ensuring safety and well being of the employees Organization development Involving the employees in the decision-making process Providing job security and growth opportunity to the employees Change Management Work-life balance Conflict resolution Compliance 1. Alignment and integration of organization plan with the human resource requirements The top-level management must ensure that the HR activities and requirements are considered while preparing the organization plan to achieve the organization’s overall objective. The integration of the plan with human resource requirements is essential because the execution of plans in their intended manner depends on the effectiveness and efficiency of the human resource. 2. Planning of human resource Human resource is a vital factor of an organization that needs planning for its procurement and deployment. The dynamic business environment where the technology is bringing new changes in the organization’s way of working has made it necessary to plan HR activities properly. The HR management must anticipate the kind of human resource needed by the organization and accordingly plan for the procurement criteria, salary, training and development, appraisal, performance bonus, promotion and other benefits to applying to its human resource. 3. Recruitment of human resource The organization’s employees must be carefully recruited as their performance is directly linked with the organization’s success. The HR activities include conducting a recruitment process for selecting the most eligible candidate who can add value to the organization. The human resource management activities include a personal interview, aptitude test and other methods to evaluate the knowledge, learning ability, leadership qualities, teamwork spirit and other parameters. 4. Regular evaluation and monitoring of performance Another core human resource management activity is to keep a check on the performance of the employees continuously. The HR management shall perform activities to monitor and compare the employees’ performance and the target performance and take corrective actions to fill the gap. The flow of communication and information among the management and employees shall be free to achieve better and timely results. 5. Taking steps to keep the employees motivated Human resource management activities shall also focus on maintaining and increasing the motivation level of the employees. The employees shall be timely, rewarded for achieving targets within the predetermined deadlines. Monetary benefits such as bonuses, incentives, promotion, and non-monetary benefits like the best performance award, recognition, and creative innovation can keep the employees motivated to give their best for the organization. 6. Training and development The continuous updating of the knowledge and skills of the organization’s human resource is an important factor for its success in the long run. The development of human resource is an important activity performed by human resource management. Regular training of employees enables them to actively update themselves with the changing needs of the business environment. 7. Rewards and compensation Employees shall be adequately rewarded for their efforts through justified salary, bonus, incentives and other monetary benefits. Non-monetary benefits like the best performance award, recognition to creative innovation, trophies can keep the employees motivated to give their best for the organization. This human resource activity is crucial as if the employees are not happy with the compensation and benefits that they receive for their work, and then it can adversely affect their performance. 8. Ensuring safety and well-being of the employees The human resource management shall perform all activities which are necessary for ensuring the safety and well-being of its human resources. It is the organization’s responsibility to provide a healthy and safe work environment, proper safety measures for work that require exposure to hazardous situations and adequate health care facilities for the employees and their families. 9. Organization development This management activity involves preparing a strategy as per the nature and size of the organization to build a working environment where employees can give their best efforts. Effective coordination and cooperation among the human resources employed at different levels of the organization results in the development of both the employees and the organization. 10. Involving the employees in the decision-making process The management shall keep the employees well informed about the organization’s functioning so that they can effectively participate in the decision- making process. The support of the employees’ union can help in encouraging the participation of skillful employees in decision making. 11. Providing job security and growth opportunity to the employees Human resource management is necessary for the organization’s growth, but it should also contribute to the professional development and growth of the individual employees. 12. Change management: Change management involves preparing, supporting, and helping individuals, teams, and organizations in making organizational change. This might include changes to business processes, systems, technology, job roles, and organizational structures. Effective change management involves clear communication about the change and its impact, training and support for employees, and strategies to manage resistance to change. The goal is to ensure that the organization can adapt smoothly and successfully to the change, with minimal disruption to business operations. 13. Work-life balance: Work-life balance is about creating a harmonious balance between an individual’s work and personal life. Organizations support work-life balance by offering flexible working hours, remote work options, family leave policies, and wellness programs. Promoting work-life balance helps employees to reduce stress, increase job satisfaction, and improve overall well-being. It also leads to higher productivity and retention rates as employees feel more supported in balancing their professional and personal responsibilities. 14. Conflict resolution: Conflict resolution in the workplace involves addressing and managing disagreements and disputes between employees, teams, or departments. Effective conflict resolution strategies include active listening, empathetic communication, and collaborative problem-solving. HR plays a crucial role in mediating conflicts, ensuring that issues are resolved fairly and amicably, and maintaining a positive work environment. Resolving conflicts promptly and effectively helps to prevent escalation and promotes a culture of respect and cooperation. 15. Compliance: Compliance in HR refers to adhering to labor laws, regulations, and company policies to ensure fair and ethical treatment of employees. This includes compliance with laws related to wages, working hours, health and safety, anti-discrimination, and employee rights. HR is responsible for staying updated on legal requirements, implementing compliant policies and procedures, and conducting regular audits to ensure adherence. Non-compliance can result in legal penalties, financial losses, and damage to the organization’s reputation. Must read: Navigating the modern HR landscape with HR analytics Why should you enhance your HR capabilities with MSc in Business analytics from MAHE? Pursuing an MSc in Business Analytics from MAHE helps HR professionals’ become data-driven decision-makers along with boosting their competitiveness and career growth, while also providing cost-saving and strategic HR benefits in the rapidly evolving field. This program offers the opportunity to gain a global perspective, valuable networking, and continuous learning in HR analytics. Enhancing your HR capabilities with an MSc in Business Analytics from MAHE can be a strategic move to adapt to the changing landscape of HR and data-driven decision-making, offering personal and professional benefits, including career advancement, skill development, and a deeper understanding of HR processes. It’s essential to evaluate your career goals and the specific offerings of the program to determine if it aligns with your objectives. CONCLUSION An honest, hardworking and skilled employee is the most valuable asset of an organization. Thus, HR activities must be planned and performed in a manner such that it contributes to creating maximum value for both the employee as an individual and the organization as a whole.
What is the data science lifecycle? As the world enters the era of big databases, modern lifestyle produces more and more data at an unparalleled speed through apps, websites, smartphones, and smart devices. Hence, the need to store data has also expanded as the main challenge and concern among modern enterprise industries. Data science is the future of AI algorithms to overcome these challenges. It is a blend of various tools, algorithms, and machine learning life cycles with the primary goal of discovering hidden patterns from raw unstructured data. Data science focuses on a more forward-looking, innovative approach, ensuring to evaluate historically and compare it with present data to make better decisions and future predictions on behaviour and outcomes. From healthcare and finance to cybersecurity and automobiles, data scientists significantly contribute to various breakthroughs across verticals. Read on to learn more about the different stages in the data science lifecycle that require different skill sets, tools, and techniques. Also read: Fastest-Growing Data Science Skills in 2025 Data science lifecycle explained A data science lifecycle is defined as the iterative set of data science steps required to deliver a project or analysis. There is no one-size-fits-all approach that defines data science projects. Hence you need to determine the one that best fits your business requirements. Each step in the lifecycle should be performed carefully. Any improper execution will affect the following step, ultimately impacting the entire process. Data Science is key to achieving a perfect data science process here. The main aim is to build a framework and solutions to store data. Since every data science project and the team is unique, every specific data science lifecycle is different. How many phases are there in the data analytics life cycle? Below we have explained the different phases of data science life cycle PhasesDescriptionIdentifying problems and understanding businessDiscovering the answers for basic questions including requirements, priorities and budget of the project.Data CollectionCollecting data from relevant sources either in structured or unstructured form.Data processingProcessing and fine-tuning the raw data, critical for the goodness of the overall project.Data analysisCapturing ideas about solutions and factors that influence the data life cycle.Data modellingPreparing the appropriate model to achieve desired performance.Model deploymentExecuting the analysed model in desired format and channel. Identifying problems and understanding business Like any other good business lifecycle, the data science lifecycle also starts with ‘why?’ Identifying problems is one of the major steps necessary in the data science process to find a clear objective around which all the following steps will be formulated. In short, it is important to understand the business objective early since it will decide the final goal of your analysis. This phase should examine the trends of business, analyse case studies of similar analysis, and study the industry’s domain. The team will assess in-house resources, infrastructure, total time, and technology needs. Once these aspects are all identified and evaluated, they will prepare an initial hypothesis to resolve the business challenges following the current scenario. The phase should – Clearly state the problem that requires solutions and why it should be resolved at once Define the potential value of the business project Find risks, including ethical aspects involved in the project Build and communicate a highly integrated, flexible project plan Data collection Data collection is the next stage in the data science lifecycle to gather raw data from relevant sources. The data captured can be either in structured or unstructured form. The methods of collecting the data might come from – logs from websites, social media data, data from online repositories, and even data streamed from online sources via APIs, web scraping or data that could be present in excel or any other source. The person performing the task should know the difference between various data sets available and the data investment strategy of an organisation. A major challenge faced by professionals in this step is tracking where each data comes from and whether it is up-to-date. It is important to keep track of this information throughout the entire lifecycle of a data science project as it might help test hypotheses or run any other updated experiments. Data processing In this phase, data scientists analyse the data collected for biases, patterns, ranges, and distribution of values. It is done to determine the sustainability of the databases and predicts their usage in regression, machine learning and deep learning algorithms. The phase also involves the introspection of different types of data, including nominal, numerical, and categorical data. Data visualisation is also done to highlight the critical trends and patterns of data, comprehended by simple bars and line charts. Simply put, data processing might be the most time-consuming but arguably the most critical phase in the entire life cycle of data analytics. The goodness of the model depends on this data processing stage. Data analysis Data Analysis or Exploratory Data Analysis is another critical step in gaining some ideas about the solution and factors affecting the data science lifecycle. There are no set guidelines for this methodology, and it has no shortcuts. The key aspect to remember here is that your input determines your output. In this section, the data prepared from the previous stage will be explored further to examine the various features and their relationships, aiding in better feature selection required for applying it to the model. Experts use data statistics methods such as mean and median to better understand the data. In addition, they also plot data and assess its distribution patterns using histograms, spectrum analysis, and population distribution. Depending on the issues, the data will be analysed. You may be interested in knowing more about time series analysis. Data modelling Modelling Data is one of the major phases of data processes and is often mentioned as the heart of data analysis. A model should use prepared and analysed data to provide the desired output. The environment needed for executing the data model will be decided and created before meeting the specific requirements. In this phase, the team works together to develop datasets for training and testing the model for production purposes. It also involves various tasks such as choosing the appropriate mode type and learning whether the problem is a classification, regression, or clustering problem. After analysing the model family, you must choose the algorithms to implement them. It has to be done carefully since extracting necessary insights from the prepared data is extremely important. Model deployment Now, we are at the final stage of the lifecycle of data science. After a rigorous evaluation process, the model is finally prepared to be deployed in the desired format and preferred channel. Remember, there is no value for the machine learning model until it’s deployed to production. Hence machine learning models have to be recorded before the deployment process. In general, these models are integrated and coupled with products and applications. The stage of Model deployment involves the creation of a delivery mechanism required to get the mode out in the market among the users or to another system. Machine learning models are also deployed on devices and gaining adoption and popularity in the field of computing. From simple model output in a Tableau Dashboard to a complex as scaling it to cloud in front of millions of users, this step is distinct for different projects. RELATED ARTICLES Data scientist job role and description Data science projects you should try Who all are involved in the data science lifecycle? Data is being created from individual level to organisational level, gathered, and stored in substantial servers and data stores. But how are you going to get hold of this vast storage of data? It’s where the data scientist comes into play, who is an expert in the art of extracting insights and patterns from unstructured words and numbers. Here we have listed out different job profiles of the data science team involved in the lifecycle of data science. Business Analyst The role of a business analyst is to understand the business requirements in the identified domains like Banking, Healthcare, education, and more. The responsible person can guide in planning the right solution and timeline to perform the analytics in their business analytics lifecycle. Moreover, they should also find the right target customers and analyse the effectiveness of various campaigns to create plans and smoothen business processes. Data Analyst A data analyst is a data science expert who has extensive knowledge and experience in working with huge data. They can map the solution and analyse what data is required to generate the required solution. Data Analysts are required to format and clean the raw data, interpret and visualise them to perform the analysis and provide the technical summary of the same. Data Scientists Data scientists take another step down in the lifecycle of data science, and their main task is to improve the quality of machine learning models. In general, they divide their work into two blocks – Work with the finished model of the project to assess the quality continuously and identify the areas that need to be improved. Gather online and offline metrics to find new architectures and signals for predictions. Data Engineer Data Engineers focus on technique optimisation and data construction in a conventional manner. They are in charge of preparing data for subsequent analysis, gathered from social networks, websites, blogs, and other internal and external web sources. It will then be formed into a structured form so that it can be shared with the data analyst for further steps. Data Architect The primary role of the Data Architect is to integrate, centralise, safeguard and maintain the data sources of the organisation’s life cycle. They have to work with the latest technologies to ensure the business stays on top and relevant. In addition, data architects also have a significant role in creating a blueprint for database management, organising data both at macro and micro levels. Machine Learning Engineer A job profile of a machine learning engineer involves the responsibility of providing advice on which model can be applied to acquire the desired outcomes and build a solution to offer accurate output. They have to design and implement machine learning-related algorithms and applications, including prediction, and anomaly detection, to address the business challenges. They collaboratively build data pipelines, benchmark infrastructure, and A/B testing. Conclusion When it comes to better decision-making, data is inevitable. This is also true on an organisational level, where the majority of today’s businesses rely on data-driven decisions and strategic plans to achieve their long-term goals. Implementing a perfectly defined data science lifecycle will help you optimise and streamline business operations. Enrol in the MSc in Data Science provided by the Manipal Academy of Higher Education (MAHE) through Online Manipal, which will help you boost your intelligence and hone your skills in data science, allowing you to emerge as a competent individual in the industry. In a nutshell, due to the accelerating rate of data sources, data science has become one of the fastest growing fields, enabling businesses to interpret data and provide actionable insights to improve outcomes.
Explore interesting MBA case studies for real-world insights You may not know this, but MBA programs are not all about only textbooks and theories – real-world applications are an important part of these courses as well. Case studies are one of the most efficient ways in which such gaps can be bridged. These are detailed analyses of actual business challenges, and they let you see things from the perspective of decision-makers and assess strategies, outcomes, and risks. You have case studies on all types of businesses – from startups to multinational corporations. You gain valuable insights into areas such as problem-solving, innovation, and leadership from real-world business case studies for MBA. They teach you how MBA knowledge translates into practical strategies. Famous and Interesting MBA Case Studies When it comes to the most famous and interesting real-world business case studies for MBA students these top the list: 1. Apple’s Comeback under Steve Jobs Steve Jobs came back to Apple in 1997, reduced around 70% of its product lines, focused on specific core products and doubled down on design, supply chain, user experience, and innovation. He also restored confidence in the brand by launching iMac in 1998. This shows that focus and clarity are strong tools. Apple was revived because Jobs knew what not to do and focused on fewer and better products. Such MBA case studies with solutions show that at times cutting could be a strategic move over adding. 2. Kodak’s fall in the Digital Age Kodak filed for Chapter 11 bankruptcy in 2012 after resisting going fully digital for years even though it developed the first digital camera back in 1975. It did so because it was afraid it would cannibalize its film business. If you ignore technological change as a business because it will threaten your current revenue streams, it could be risky for you. These MBA case study examples teach you to continuously monitor disruptive technologies, even when they pose a threat to your core business. 3. Pristine Furnishings: Legal Challenges and Recovery through Stricter Audits Pristine Furnishings faced legal trouble due to faulty supplies, a bounced cheque, and a consumer injury claim. These exposed gaps in quality control, contracts, and financial practices. The company responded with stricter audits, revised contracts, better cheque handling, and legal training turning setbacks into a structured recovery strategy. 4. Amazon’s Customer-Centric Growth Strategy Following its inception in 1994, Amazon has grown to become the biggest e-commerce marketplace in the world from an online bookstore. Its strategy has always focused on customer obsession, including fast delivery, competitive prices, a vast selection, and consistent innovation, such as Prime and Alexa. This demonstrates that if you put customers at the heart of it, even ignoring short-term profits, it can lead you to dominate the market in the long term. Through these MBA case studies with solutions, you learn that a customer-focused approach, a long-term vision, and strategic infrastructure investment can offer a lasting competitive advantage. 5. Dove’s “Real Beauty” Campaign Dove started the “Campaign for Real Beauty” in 2004, where it featured ladies with various body types, ages, and skin tones over conventional models. It sparked global conversation by challenging unrealistic beauty standards, and in three years, Dove’s sales went to USD 4 billion from USD 2.5 billion. This way, you learn that you can transform a brand if you connect emotionally with your audience and are authentic in your marketing. Such MBA case study examples teach you that you must follow customer values, make it emotionally meaningful, and build trust to market effectively. 6. Amul’s Cooperative Dairy Model (H3) In 1946, Amul started as a farmer-owned cooperative in Anand, Gujarat, and now in 2025 it is the biggest dairy brand in the country, processing over 28 million litres of milk daily. It was Amul that pioneered the White Revolution of India as well. So, when you empower stakeholders during scale building, it can drive both financial success and social benefits. One of the most famous MBA case studies in India, Amul’s instance demonstrates that it is possible to create a social impact and achieve financial prosperity simultaneously. 7. IBM’s Shift from Hardware to Services IBM’s traditional hardware business revenues started to go down in the 1990s and then it decided to switch to IT consulting and services. The leadership of CEO Lou Gerstner played a major role in helping it revive its fortunes and become an enterprise solutions leader. This shows that you need to make bold strategic shifts if you want to revive a legacy brand. Diversification and adapting to market requirements can help companies avoid obsolescence. These MBA case studies topics demonstrate that companies must be agile in recognizing declining markets and respond quickly. Check This Out: Career prospects after an MBA in Healthcare Management 8. Pepsi vs. Coca-Cola Ad Wars Pepsi and Coca-Cola have been embroiled in some of the most intense marketing battles for ages especially between the 1970s and the 1990s. Pepsi targeted the young generation while Coca-Cola depended on heritage and tradition. Both brands have competed aggressively for their share of the global market. Thus, emotional appeal and brand positioning are the most critical factors in immensely competitive markets. Consumer preferences can be redefined by such ad wars. Brand storytelling and differentiation become more important in saturated markets than product features. 9. Nokia’s Missed Smartphone Opportunity Nokia used to dominate the mobile phone market in the early 2000s but failed to adapt to the smartphone revolution that Android and Apple brought about. It depended too much on Symbian OS and was slow to innovate which led to its steep decline that ended with the sale of its phone division to Microsoft. This is proof that market leaders too can fall quickly if they do not flow with disruptive innovation. As Nokia lagged in software development it proved to be its end. You always have to anticipate technological shifts. If you fail to adapt to consumer preferences and innovate, you will be erased despite a dominant position. 10. Flipkart vs. Amazon India Battle From its beginning in 2007 till 2013 Flipkart was the e-commerce innovator of India when Amazon entered. Both of them used deep discounts, customer-centric features, and logistics innovation to combat each other. This ended in 2018 with Walmart backing Flipkart. This demonstrates that local companies can thrive against global giants if they leverage cultural understanding, regional adaptability, and customer trust. When you are competing in an emerging market you must use agility, deep localization, and partnerships to prosper against global brands. 11. Netflix vs. Blockbuster – The Disruption Story Blockbuster used to dominate the video rental market but was unable to adapt to digital streaming. Netflix began business with mail-order DVDs and in the late 2000s pivoted to streaming, which disrupted the entire industry. By 2010, Netflix became globally dominant while Blockbuster filed for bankruptcy. The key lesson here is that embracing technology is perhaps the only way to future proof your business. If you resist changes you will be destroyed. You must be agile with your business model and adapt quickly to customer behavior and technological shifts. 12. Google’s “20% Time” Innovation Culture Google became the first company to let its employees spend 20% of their working time on personal innovative projects. This helped create the likes of Gmail, AdSense, and Google Maps. So, if you empower employees with creative freedom, it can lead to groundbreaking innovations. Corporate culture drives innovation, and companies can unlock long-term growth with intrapreneurship. 13. Vistaar LearnTech: Resetting People Priorities Through Upskilling Vistaar LearnTech scaled rapidly but faced chaos marked by unclear roles, burnout, and high attrition. A new HR strategy introduced structured hiring, clear roles, targeted upskilling, OKR-based reviews, transparent grievance handling, pay rationalisation, and well-being measures. Within a year, attrition dropped, productivity rose, and Vistaar became a top startup to work for showing how structured, empathetic HR can sustain fast growth. 14. Aryavarta: Reviving Through HR Transformation Aryavarta Textiles faced attrition, unclear roles, and low productivity due to weak HR systems. By introducing structured recruitment, training, appraisals, and welfare measures, the company improved skills, compliance, and culture. Within a year, attrition fell, productivity rose, and morale strengthened proving the power of strategic HR reform. You Might Also Like: MBA in Finance vs. MBA in FinTech 15. Zomato’s Business Model Evolution Zomato started off as a restaurant delivery platform in India but grew to offer food delivery and cloud kitchen services, and expanded outside the country too. Despite facing profitability issues and stiff competition, it went public in 2021. This shows that businesses can survive competitive markets if they diversify and are adaptable. One of the most famous MBA case studies in India, this teaches you to always change your business model depending on customer demands and market shifts. 16. Coca-Cola’s New Coke Failure and Product Revival Coca-Cola changed its original formula in 1985 and came out with New Coke so that it could compete with the sweeter taste of Pepsi. This move backfired and led to consumer backlash. It reintroduced Coca-Cola Classic and regained loyalty. The crux of the matter is that if you mess with your brand identity it could alienate your loyal customers. So, it is crucial to heed customer feedback. Brand loyalty is a strong tool that needs protection. Changes have to align with customer perceptions and emotions. 17. Uber’s Business Model and Regulatory Battles Uber revolutionized urban transport thanks to its ride-hailing model but experienced backlash worldwide because of regulatory issues, ethical practices, and driver treatment. Despite these challenges, it still remains a global mobility leader. This teaches us that disruptive models always face regulatory issues and so businesses must balance innovation and compliance. If you want to scale disruptive businesses you will need to be farsighted in legal, regulatory, and ethical frameworks. 18. Nike’s “Just Do It” – Brand Building with Athletes Nike launched the Just Do It campaign in 1988 and it was endorsed by athletes of the caliber of Michael Jordan. This made it a symbol of performance and empowerment. Nike’s sales skyrocketed and it secured global dominance. The major lesson here is that you can create timeless value by tying emotional branding with cultural icons. You can establish long-lasting and robust brand equity through athlete partnerships and effective slogans. 19. Boeing 737 Max Crisis Boeing’s 737 Max suffered a couple of crashes – one each in 2018 and 2019 – and they laid bare the flaws in its safety oversight and MCAS software. Boeing grounded its fleet worldwide which led to severe reputational damage and billions in losses. This is the most prominent proof of the fact that if you rush products without prioritizing safety it can have catastrophic consequences. Engineering excellence has to be allied with a safety-first culture and ethical responsibility. 20. Tata Nano – Failure of a People’s Car Tata Nano was launched as the cheapest car in the world in 2009 and positioned as the people’s car. However, bad marketing, affordability-related stigma, and safety concerns contributed to its failure. Tata stopped producing the Nano in 2018. The important thing to learn from this example is that only a low price does not guarantee success – perception, branding, and safety are more important. Customer perception and marketing strategy are equally crucial as pricing innovation. 21. Volkswagen Emissions Scandal In 2015 Volkswagen got exposed for using software to cheat in emission tests and it had done so in millions of vehicles. As a result of the scandal, it had to pay billions in fines, there were plenty of resignations, and its reputation took a huge hit. Evidently, compliance and ethics are crucial in business. If you try to gain in the short term using unethical practices it can destroy your brand’s long-term trust. Business strategy must be guided by ethical leadership and corporate governance for sustainability. 22. GlobaTech: Bridging Cultures Through Communication Styles GlobaTech India faced communication gaps with a Japanese client due to cultural differences, causing delays and frustration. Cross-cultural training, etiquette protocols, bilingual coordination, and clear communication frameworks improved collaboration, trust, and delivery, showing that cultural awareness is key to global teamwork. 23. Starbucks’ Experience-Based Branding Starbucks caused a significant shift in the coffee industry by emphasizing customer experience, including cozy cafes, a community culture, and personalized service. This differentiated it from other brands that were only selling coffee – it became synonymous with lifestyle. This teaches us that there is more to branding than only products – it is about emotional connections and experiences. Customer experience can be just as valuable as the product. So, companies need to invest in lifestyle positioning and brand storytelling. 24. Tesla’s Electric Revolution and Scaling Challenges Tesla evolved to become a major disruptor in the auto industry from being a niche maker of luxury electric vehicles (EVs). It led innovations in battery strategy, over-the-air software updates, direct-to-consumer sales, and vertically integrated manufacturing. However, it faced several challenges in scaling like manufacturing bottlenecks and quality control issues. By itself, innovation is not sufficient – you need to be scalable as well. Moving to the mass market from boutique or craft production needs compact coordination in operations, quality, and supply. Such MBA case studies topics teach you to think of operational scale instead of only product quality. 25. Arya Wellness: Strategic Scaling Through Demand Forecasting Arya Wellness, a Bengaluru health beverage start-up, addressed rising demand by using ARIMA-based forecasting, optimising production layouts, and planning a new facility. Location analysis led to establishing a scalable plant in Hosur, Tamil Nadu, balancing cost, logistics, and sustainability. These steps improved efficiency, ensured timely deliveries, and positioned the company for sustainable growth. Also Read: 18 Top Jobs after an MBA Program How MBA Students Can Benefit from Case Studies The most significant benefit that you get from case studies is the opportunity to apply your theoretical knowledge to complex and real-world business scenarios. This helps you develop critical thinking, strategic decision-making, and problem-solving skills in dynamic environments. Following in a nutshell are the most significant benefits that you can gain from case studies: Broader Area Specific Factors Skill Development Reasoning and Critical Thinking Problem-Solving Strategic Decision-MakingEmpathy and Leadership Practical Application Bridging Practice and Theory Comprehending Business Dynamics Navigating Uncertainty Professional and Personal Growth Open-MindednessConfidence Career Exploration Communication and Teamwork Read More: 15 Best Courses after an MBA Degree Conclusion MBA case studies are not mere academic exercises – they are powerful tools that help you bridge the gap between practice and theory. When you analyze real-world business failures and successes, you gain a deeper understanding of different aspects of business administration, such as strategy, finance, leadership, innovation, and marketing. Studying your MBA in a leading university like Manipal Academy of Higher Education, Manipal University Jaipur, and Sikkim Manipal University helps you come across the best and most prominent case studies in the world. Sharpen your management skills by joining one of these universities and studying from the finest MBA case studies. An Interesting Read: Top online MBA programs for working professionals FAQs (H2) 1. What are MBA case studies, and why are they important? MBA case studies are detailed analyses of hypothetical or real-world business problems that teach students the application of theoretical knowledge in practical situations. This improves their problem-solving, decision-making, and strategic-thinking skills. 2. How do case studies bridge theory with real-world business practice? Case studies bridge theory and practice by letting students apply abstract business concepts to tangible and complex real-world scenarios. This cultivates their critical thinking, analytical, and problem-solving skills. 3. Which are the most popular MBA case studies taught in business schools? The most classic examples of MBA case studies are Mumbai dabbawalas for operations, Toyota’s JIT system for manufacturing, and Hertz Global Holdings for finance. 4. What skills can MBA students develop from analyzing case studies? By analyzing case studies MBA students develop crucial skills like critical thinking, problem-solving, analytical skills, and strategic decision-making. 5. How do case studies help in preparing for leadership roles? Case studies prepare you for leadership roles by simulating real-world challenges and letting you practice critical thinking, ethical considerations, strategic decision-making, and problem-solving in low-pressure environments. 6. Are case studies based only on success stories or failures as well? No, case studies do not focus on success stories only – they also include failures so that you can analyze both and get a detailed understanding of addressing challenges and implementing strategies.
