Business analytics is a field that is growing in popularity and market share. The domain has been around since the 1970s, but it has only recently become so popular among large companies.
Businesses are now more interested in using data to make business decisions. Business analysts use computer software to analyse information and predict future events. They look at historical data to find trends, predict future behaviour, and make recommendations for improvement.
Business analytics is collecting, analysing, and interpreting data to make better business decisions.
A business analyst evaluates data from many sources and turns it into a clear report for management. They can also help with problem-solving and decision-making.
Business analysts are the key to maximising efficiency and profitability in any organisation. They identify areas where improvements can be made, whether there’s too much waste or not enough profit in certain departments. Using data to guide their decisions, they can make informed recommendations that will benefit the company.
They are usually responsible for gathering customer needs and wants and competitor information such as pricing policies or new product releases.
READ MORE: What is Business Analytics: An overview
The emergence of business analytics can be traced back to the 1940s, when it was used in military applications. In the 1950s, data analysis was applied to business problems, including inventory management and marketing.
In the 1960s and 1970s, several notable developments occurred in business analytics. The first mainframe computers were introduced in this era, which made it easier for companies to analyse large amounts of data. Computer-based decision support systems were also introduced during this period.
In the 1980s and early 1990s, companies started using statistical software packages such as SAS and SPSS to carry out data analysis tasks. By this period, many companies had begun storing their data electronically instead of on paper or magnetic tape files.
The late 1990s saw further advances in analytics technology with the emergence of web-based applications that allowed users to access company data from remote locations via computers or mobile devices such as smartphones or tablets. The ability to access information from anywhere at any time greatly increased productivity within organisations by reducing wait times between requests for information from managers who needed answers so they could make decisions quickly.
READ MORE: Difference between business analytics and data science
The importance of Business Analytics in the current world is paramount.
The business analytics domain is a fast-moving field, and it’s hard to keep up with the changes. Here are some tips to help you get started in the business analytics industry:
The best way to enter the Business Analytics domain is by completing a bachelor’s degree in Business or Economics. During your studies, you’ll learn the basic principles of business and economics and gain experience in data analysis.
After you graduate, you can start applying for jobs as a Business Analyst. In most cases, it’s best to have some work experience in this field before applying for a job as a Business Analyst. You can get this experience by working as an intern at a company or doing an internship during your studies. If you want to explore further, you can pursue a specialised master’s degree in business analytics.
First, you can learn more about data science and how it uses statistics and computer programming to solve business problems. This will give you an understanding of what the job entails and help you decide if it’s something you want to pursue.
Businesses use their understanding of data to increase sales, reduce costs and improve customer satisfaction. They use analytics to gain insight into their customer’s behaviour, so they can create more effective marketing campaigns or improve their products and services based on customer feedback.
This may seem an obvious step, but it’s important: having someone who can guide you through this process and answer questions as they arise will make all the difference. You’ll have someone who can answer your questions and help you avoid making mistakes; they may even be able to give you advice on how to get started!
This is another important step: if you’re trying to become a better developer, it helps to find a project where people are working on what you want to do. You’ll have the opportunity to learn from others and get feedback on your work; if you’re interested in contributing code or documentation, this can be especially helpful!
Business Analytics courses in India are available at all levels: certificate, diploma, bachelor’s, and master’s degrees. Some schools offer both programmes, but they may be called by different names. For example, an undergraduate degree may be called an “Analytics” or “Data Science” degree. In contrast, a postgraduate degree would be called a “Master of Science in Business Analytics.”
The business analytics course in India will include classes related to statistics and mathematics, such as regression analysis (linear and logistic), optimisation theory (linear programming), probability theory, etc. Students will also learn about data mining methods such as clustering and association rules that can be used for predictive modelling.
There are two main business analytics courses in India: MBA and M.Sc., and their eligibility criteria are as follows –
The cost of the business analytics course in India depends on the duration, institute, and type of business analytics degree in India. The business analyst course fee structure can vary greatly depending upon the university or college offering the same.
MBA programme in business analyst course fees are INR 50,000 to INR 60,00,000 per year, while M.Sc. in Business Analytics is INR 35,00,000 per year. In addition, tuition fees vary depending on which university you choose. If you’re worried about the fee, you can opt for an online degree programme in business analytics, that is much more affordable than a regular course.
Finally, exam fees range from Rs 500 to Rs 1000 depending on which university you attend and what level of certification your degree allows.
The business analytics course subjects include:
Business analysts are responsible for understanding the needs and requirements of a business and using that knowledge to create a plan for implementing a solution. The introduction to business analytics course in India provides an overview of this role, including the types of solutions they might be expected to develop, the different methods available for creating those solutions, and the tools that can be used to facilitate the process.
The second module covers some common processes and methodologies business analysts use when creating solutions for their businesses. These include Agile methodology, Waterfall methodology, and newer techniques like Lean Startup and Design Thinking.
This module moves on to discuss how to gather requirements from stakeholders at all levels within an organisation—from executives down to end users—and how best to manage those requirements throughout their lifecycle from concept through implementation until retirement or replacement with new systems or technologies to ensure that they remain relevant throughout their entire lifespan without becoming obsolete due to changing business needs over time.
The Business Process Modelling and Analysis (BPM) section introduces students to the concepts used in business process modelling and the tools needed to create models. Students will learn how to draw process diagrams and use BPMN 2.0. They will also learn about organisational structures, data flows, and the tools used by business analysts.
The Enterprise Architecture Techniques section teaches students about enterprise architecture and its role in improving business processes. Students will learn about business architecture frameworks like TOGAF 9 and Zachman Framework, as well as architectural styles such as service-oriented architecture (SOA). Students will also learn about enterprise resource planning (ERP) systems and their role in improving business processes.
The Project Initiation and Planning section introduces students to project management techniques used by business analysts when working on projects for clients or internal departments within an organisation or corporation. Students will learn how to plan projects using either Agile or Waterfall methodologies and how to manage project teams effectively while keeping them focused on meeting deadlines and budget requirements.
The business analytics syllabus for an M.Sc. includes –
The business analytics syllabus for an MBA certification includes –
Business analytics is rapidly expanding, and there are a lot of opportunities to make an impact as an analyst or data scientist.
Here’s why you should choose –
Business analytics programmes are designed for students interested in data science and who want to learn more about its applications. The business analytics course in India is available at both certificate and diploma levels, but many students opt for the latter because it provides a more comprehensive education on the business analytics course subjects.
Some of the key skills that students develop during their business analytics course in India include:
This involves finding patterns in large quantities of data with the help of algorithms or models that can be used to identify trends or patterns within a database system. It helps businesses make informed decisions based on empirical evidence rather than intuition or gut instinct alone.
You will be working with other people, so you need to be able to communicate clearly and effectively.
You’ll use your logic skills daily, so they’re vital.
You’ll need to be able to analyse large amounts of data quickly and efficiently.
Visualising data is an essential part of the business analytics process, so you need to be able to create charts and graphs that represent information clearly and accurately.
Programming is another vital skill that can help you succeed as an analyst—you’ll be able to automate processes or create programmes that help you analyse data more efficiently.
Models are used in Business Analytics as visual representations of complex systems; they allow businesses to see trends in their data over time and identify relationships between different elements.
ALSO READ: 15 key skills and tools business analysts needs to succeed
Business analytics is a field that’s growing rapidly and offers many different job roles. To get an idea of what’s available, take a look at some of the most common professions:
The business analyst is the person who coordinates projects and keeps the company running smoothly. They’re responsible for analysing a company’s data to make decisions, and they often work closely with a company’s support teams to ensure that their clients are happy. The average salary for a business analyst ranges from INR 3 lakhs to INR 15 Lakhs.
A data scientist specialises in data analysis, helping businesses make better decisions using data. The job requires an understanding of how industries operate and how to quickly interpret large amounts of information, making it an ideal entry-level position for people with a background in maths or science. The average salary of a data scientist ranges from Rs INR Lakhs to INR 25 lakhs.
A data engineer works with software developers to create algorithms that help computers process large amounts of data quickly and accurately. They typically specialise in one type of software or another, such as SQL or Python, so they can focus on optimising their workflows according to their specific needs. The average salary of a data engineer ranges from INR 3 lakhs to INR 20.9 lakhs.
Business intelligence analysts are responsible for gathering data from various sources within an organisation and creating reports that analyse the information. The purpose of these reports is often to help managers make better decisions about their business practices based on current market conditions. The average salary of a business intelligence analyst ranges from INR 3.5 lakhs to INR 16 lakhs.
Online Manipal offers an online MBA and online MSc in Business Analytics from MAHE. The courses are offered through Online Manipal. The business analytics course in India is designed to help students develop specialised knowledge and skills in business analytics to use the methodologies and technologies involved to solve real-world problems in their organisations.
The business analytics course in India curriculum covers topics such as data mining, predictive analytics, business intelligence, data visualisation, and more. The faculty for the programme includes experts from MAHE, as well as industry professionals who have worked at top tech companies.
The programme is offered through an LMS (Learning Management System) that allows students to access course materials 24/7 from any device with internet access. It also includes various other features like placement assistance after the completion of the course and a scholarship program that covers 100% tuition business analyst course fees plus hostel charges for all admitted students who meet the eligibility criteria.
You’ll also get access to many resources other schools don’t offer: no-cost EMIs on all business analytics courses in India (local tuition fees apply) and scholarship opportunities for deserving candidates who demonstrate leadership qualities during their coursework.
There are three main types of business analytics: descriptive, diagnostic, and predictive.
Business analytics is a well-paying field. It’s one of the highest-paying jobs in the market today. And with the demand for business analytics experts skyrocketing, it’s no wonder why!
Examples of business analytics include –Market researchCompetitive analysisCustomer segmentationPredictive analytics
Business analytics is a rapidly growing field and is one of the most in-demand skills in today’s job market.
If you want to be on the cutting edge of this hot field, then business analytics is for you. Manipal Academy of Higher Education offers a wide range of courses in Business Analytics through Online Manipal to help you get there.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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CourseMaster of Business Administration
Bachelor of Business AdministrationBachelor of Computer ApplicationsBachelor of CommerceMBA- Banking and Financial ServicesMaster of Computer ApplicationsMaster of CommerceMaster of Arts in Journalism & Mass CommunicationMSc Data SciencePGCP in Data Science & Machine LearningMSc Business AnalyticsPGCP Business AnalyticsPGCP Logistics and Supply Chain
InstitutionManipal University JaipurManipal Academy of Higher EducationT. A. Pai Management InstituteManipal Institute of Technology
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