Business analytics career after engineering

Business analytics implies dealing with data analysis to get insights that directly influence key business decisions and strategies. It is carried out via various tools, such as statistical analysis, predictive modeling, data mining, and others, to extract valuable information from vast data sources. Organizations can enhance operations optimization, identify trends, forecast future results, and reduce risks by deploying data analytics tools and methods.

Technological advancements have enabled the continuous increase in data generated by businesses, which, together with the need for skilled professionals in the field. Through this blog, we close the gap between business analytics roles and engineering graduates and find lucrative career opportunities in Business Analytics after engineering.

Understanding business analytics

Business analytics is a process of examining an organization’s data and deriving useful information to support decision-making. It includes using descriptive statistics, data mining, predictive modeling, and numerical approaches to find connections, trends, and patterns in data.

Key concepts and methodologies used in Business Analytics:

• Descriptive Analytics: This concept mainly uses data visualization, dashboards, and key performance indicators (KPIs) to showcase information in a decent and understandable format.
• Predictive Analytics: Predictive analytics employs historical data and mathematical models to predict what will happen in the future.
• Prescriptive Analytics: Prescriptive analytics is not limited to predicting outcomes with data; instead, it can prescribe actions that would lead to optimal results.

Industry applications and demand for Business Analytics in engineering:

• Retail: Shops employ business analytics to forecast consumer behavior and average sales, improve the quality of inventory, and develop marketing strategies to suit customer demands and preferences.
• Healthcare: In healthcare, business analytics are used to improve patient outcomes and hospital operations.
• Finance: The financial sector utilizes data analysis to determine credit risk, detect fraud, and raise returns on their investments.

Why consider a career in business analytics after engineering?

There are many benefits of opting for business analytics after engineering. The following are a few transferable skills from engineering:

• Analytical Skills: Engineering graduates are known as analytical professionals who develop their skills through engineering coursework and problem-solving. These skills are also used in business analytics, where professionals perform data analysis to gain meaningful intelligence.
• Quantitative Skills: Engineering education includes mathematical and quantitative reasoning, which are key for performing statistical analysis and creating predictive models.
• Technical Proficiency: Graduates of engineering have a background in computer languages, data visualization tools, and statistical software. This knowledge is helpful in business analytics.

Business analytics collaborates with experts and professionals from different areas, such as marketing, finance, operations, and supply chain management. Engineers can utilize their unique skill sets to work in various departments of the organization and contribute to solving complex business problems.

As data-driven decision-making becomes more and more reliant, organizations constantly search for talented people who can be the main characters in the process of translating data into actionable business insights.

Roles in a Business Analytics Career

Business Analyst

Data Analyst

Data Scientist

Business Intelligence Analyst

Quick read: Who should do an MSc in Business Analytics?

Steps to transition into a business analytics career

1. Assess Existing Skills and Knowledge

• Evaluate your current skill set, including quantitative abilities, programming proficiency, and analytical thinking skills gained from your engineering education.
• Identify relevant coursework, projects, or experiences that demonstrate your analytical capabilities and problem-solving skills.

2. Identify Areas of Interest Within Business Analytics

• Explore different roles and domains within business analytics, such as data analysis, data science, business intelligence, or predictive modeling.

3. Acquire Necessary Skills Through Additional Coursework or Self-Study

• Identify the specific skills and tools required for your desired role in business analytics, such as programming languages (e.g., Python, R, SQL), statistical techniques, machine learning algorithms, and data visualization tools.
• Enroll in online courses, boot camps, or certification programs to learn new skills or enhance existing ones.

4. Build a Portfolio Showcasing Analytical Projects and Achievements

• Develop analytical projects that demonstrate your ability to apply data analysis techniques to real-world problems.
• Showcase your projects through a portfolio website, GitHub repository, or online platform to highlight your skills, methodologies, and outcomes.

5. Network and Seek Mentorship Opportunities in the Field

• Attend industry events, networking meetups, and professional conferences to connect with professionals working in business analytics.
• Join online communities, forums, or LinkedIn groups related to business analytics to engage with peers, share knowledge, and seek advice.

Skill set required for transitioning to Business Analytics

Technical Skills	Soft Skills
Statistical analysis tools–R and Python	Critical thinking and problem-solving abilities
Data manipulation and visualization skills–Pandas in Python and Matplotlib/ggplot2	Effective communication and presentation skills
Database querying and management–SQL (Structured Query Language)	Collaboration and teamwork

Job roles and responsibilities in Business Analytics

Career Path	Roles and Responsibilities
Entry-Level Roles	Data Analysis and ReportingAssisting with analytical projects under the guidance of senior team members
Specialization Areas	Marketing AnalyticsFinancial AnalyticsSupply Chain Analytics
Advancement Opportunities	Senior Business AnalystData ScientistAnalytics Manager/DirectorChief Data Officer (CDO)

Resources for further learning and development

Online Courses and Tutorials:

• Coursera: Offers a wide range of courses in business analytics, data science, and related topics taught by leading universities and instructors.
• Udemy: Provides affordable courses on business analytics tools, techniques, and methodologies, suitable for beginners and experienced professionals alike.

Books and Academic Resources:

• “Data Science for Business” by Foster Provost and Tom Fawcett: A comprehensive guide that introduces business analytics concepts and techniques, focusing on practical applications and case studies.

Professional Certifications and Training Programs:

• Certified Analytics Professional (CAP): Offered by the Institute for Operations Research and the Management Sciences (INFORMS), CAP certification validates proficiency in analytics concepts, methodologies, and tools.
• Microsoft Certified: Azure Data Scientist Associate: This course validates skills in designing and implementing machine learning models on Microsoft Azure, a popular cloud platform for data analytics.

For you: Why is the MSC in Business Analytics best done with Online Manipal?

Excelling in Business Analytics with MAHE

Manipal Academy of Higher Education (MAHE) provides a comprehensive platform for individuals looking to excel in the field of business analytics and successfully chart their career paths. The curriculum covers a wide range of topics, including statistical analysis, data mining, machine learning, and business intelligence.

MAHE emphasizes hands-on learning and practical experience, offering students opportunities to apply theoretical concepts to real-world problems. It also covers career counseling, resume writing workshops, mock interviews, and job placement assistance, ensuring that students are well-prepared to pursue rewarding careers in business analytics upon graduation.

Conclusion

In conclusion, transitioning into a business analytics career after engineering offers a promising pathway for individuals looking to leverage their analytical prowess and technical skills in a dynamic and data-driven field. With the growing demand for professionals skilled in data analysis and decision-making, engineering graduates are well-positioned to excel in roles ranging from data analysts to business intelligence managers.