Is an MBA useful for business analysts?
- An MBA in business analytics helps add up to the skills of individuals and makes them ready for managerial posts.
- An MBA is more beneficial for a professional who already has the relevant skills and experience.
- Pursuing the MBA course through Online Manipal helps you acquire the right skills required to upgrade your career.
Considering the importance of data in workflows and businesses today, the role of a business analyst is quite significant. Today, every mobile app, debit/credit card, website, etc., generates data. The role of a business analyst is to understand and analyze the data acquired by the firm through multiple sources.
Based on that data, an individual can either help improve processes, make predictions about the business or alter the direction of the company’s efforts. Let us read about MBA in business analytics scope to understand its importance.
What is an MBA in business analytics?
An MBA in business analytics updates professionals with the latest tools and skills required in the field. Business analytics and big data are high-growth areas but also possess cut-throat competition. A master’s degree can help you achieve an edge over your competitors, whatever industry you are in.
It cultivates students’ knowledge in various fields, such as social media analytics, database management, data mining in business analytics, market data science, etc. It simplifies the decision-making process and improves its quality and efficiency.
How does an MBA help boost the career of business analysts?
- Ability to gain business insights
Business insights are vital for a firm’s smooth function, improvement, and constant upgradation of firm and processes. An MBA for business analysts enhances necessary skills which help professionals acquire essential business insights. This helps the firms better understand their customers, products/service, and workflow.
- Enhanced knowledge
An MBA helps business analysts enhance their knowledge in data analysis, qualitative analyst, predictive modeling, market research analyst, business intelligence expert, and more.
- Skill enhancement
An MBA degree focuses on furnishing a professional’s analytical and other skills, such as leadership, problem-solving, decision-making, etc. They are taught using real-life scenarios to understand how they should act and perform under different circumstances.
- Domain expertise
A lot of technical skills revolving around domain expertise are also taught to MBA students. These include data programming techniques, statistical and mathematical tools, linear programming, etc. They can choose from three analytical domains: descriptive, predictive, and prescriptive.
- Management skills
Managerial roles demand that candidates possess management skills, as they might get a job as a leader or a manager in an organization. Therefore, MBA focuses on the management skills of individuals to help them prepare for the upcoming challenges in higher roles.
- Higher pay scale
MBA adds value to your career. Along with the enhanced skillset and the heightened role, it also helps you land a higher pay scale.
In-demand job roles after MBA in business analytics
Mentioned below are insights on MBA business analytics salary in India:
- Big data analyst– Big data analysts deal with big data and have an average salary package of INR 7.4 lakhs per annum. They review, analyze and report on the big data acquired by an organization and help the organization make the most out of it.
- Market research analyst– A person that surveys customer preferences and statistical data to improve customer experience is known as a market research analyst. The average salary of a market research analyst is around INR 4 lakhs per annum.
- Data architect– The IT professionals who review and analyze the data infrastructure of their firm are known as data architects. They can have an annual salary of up to INR 23.5 lakhs. They use their design skills to plan and implement solutions for the storage and management of data.
- Supply chain analyst– A professional who analyzes the supply chain and identifies and cures its shortcomings is known as a supply chain analyst. They must ensure sufficient stock, timely delivery, and budgetary expenditure. They can get a salary package of up to INR 11 lakhs in India.
- Predictive modeler– A predictive modeler creates an easy-to-understand model out of large datasets and can get a package of up to INR 16 Lakhs. These models are then used to gather information regarding customers, competitors, and their products.
- Marketing manager– The person responsible for creating and implementing marketing plans for the firm is known as a marketing manager. Their strategies help the organization attract new customers and retain the old ones. Their average annual salary in India is around INR 7.5 Lakhs.
Source: Ambition Box
So how to become a business analyst after MBA? Enrolling for an online MBA in business analytics from Manipal Academy of Higher Education through Online Manipal allows professionals in business analytics to upgrade their skills for better job opportunities.
Add value to your career as a business analyst by acquiring the requisite skills for a managerial position. An MBA for a business analyst can prove to be one of the best decisions you make for your career considering its scope and importance in various industries today. So visit the Online Manipal website today.
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