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Business Analytics

Scope of M.Sc. in Business Analytics

Admin | May 27, 2022

If looking at vast amounts of numbers and information excites you, and you immediately dive into it to uncover trends and patterns, you are most definitely a ‘data lover’. Companies will need more and more people like you in the future. Data generation is here to stay and grow, necessitating the need for professionals who can evaluate the data and derive actionable insights from it. With this business transformation in mind, the demand for technical skills and specialisation in data science and big data as a subject of study has expanded.

In today’s data-driven environment, when we are going toward virtual working with AI and robots taking over jobs, data comprehension is critical for sustaining in the volatile world.

This blog will provide you with a comprehensive scope of M.Sc. in Business Analytics programmes.

What is the scope of M.Sc. in Business Analytics?

An M.Sc. in Business Analytics is a postgraduate programme that blends analytical abilities with business management. Candidates are provided with a comprehensive understanding of data, business management, data analytics and are encouraged to build a multidisciplinary approach.

Analytics professionals are in high demand in the following sectors –

  • E-commerce: Retail brands use data analysis to analyse client profiles, profitability, losses and consumer behaviour. This assists them in selling the appropriate products and influencing client behaviour.
  • Manufacturing: Data professionals assist in increasing productivity, reducing risks, and increasing revenues. Productivity and processes can be enhanced, and trends can be forecasted.
  • Banking & finance: Data analysis aids in client engagement, retention, and acquisition. The transaction data available in banks aids in the prevention of fraud and risk management.
  • Healthcare: After examining and acquiring insights from prior patient data, data science in healthcare allows better patient care. Data analysis is used to optimise every area of healthcare operations.

Career prospects and job opportunities after M.Sc. in Business Analytics

The degree prepares students to be digitally strong, and data management is a talent that is in great demand.

The different job opportunities are – 

  1. Data Analyst: A data analyst is someone who collects, processes, and executes statistical studies on massive databases.
  2. Risk Analyst: Analyses the risk in a firm’s investment portfolios, particularly overseas investments, using analytical skills to determine potential losses and providing recommendations to mitigate risks through different tactics.
  3. Business Analysts: Analyse the business and ensure that the business model runs well.
  4. Business Intelligence Specialists: Deriving useful business insights from past datasets and predicting future of the business or product is the responsibilities of Business Intelligence Specialists.

The benefits of getting an M.Sc. Business Analytics

Listed below some of the benefits of pursuing an M.Sc. in Business Analytics:

  1. You will have a variety of skills:

Python: This programming language is used for deployment. It will be handy even if you decide to leave your position as an analyst and pursue a career in software development.

SQL: Similar to Python, SQL can be used for data analytics, organisations, and visualisations.

Business: By doing an M.Sc in Business Analytics, business processes can be made more efficient. When a business process is repeated several times, it becomes extremely beneficial.

Statistics: Statistics are essential, and anlysts use techniques such as analysis of variance, population sampling, and others.

  1. The growing demands for data-savvy executives in business data roles: Managers who can function as a bridge between analytical talent and the organisation’s strategic decision-making wing, as well as data-smart managers, are in great demand. A data-smart manager is responsible for fostering a data-driven culture within the organisation. They are in charge of making strategic decisions and employing data analytics to estimate the organisation’s future.
  2. A group of connected skills is given more importance: The most difficult component of the business analytics career is not maths. It’s all about determining what the company’s requirements are. This demands a deep understanding of your industry, subject knowledge, important performance measurements to consider, the task’s vision and goal, and so on. 

Understanding the business requirements is without a doubt the most important skill a new-gen analytics professional should have. Intellectual curiosity, commercial acumen, and communication skills are the most important non-technical abilities required in data science. A master’s degree focuses on learning and certification of these skills.

  1. Access to a business network: As an M.Sc. in Business Analytics student, you have a number of networking opportunities. In a setting that displays your business management talents, you’ll communicate and interact with colleagues, teachers, and industry panel members. Furthermore, you will have several opportunities to meet prospective employers through the various placement assistance activities we provide at Online Manipal. The same may be true of our sizable alumni base.
  2. Postgraduates are in high demand by recruiters: A postgraduation is a credential that is recognised both nationally and internationally. With an M.Sc. in Business Analytics, you earn credibility, and certifies you as a specialist in your domain. It shows that you are incredibly informed and committed to your subject, as well as your command of management skills and a diverse understanding of data science.

Conclusion

The tremendous expansion and importance of big data have triggered the development of data science. If you want to make a career in this field, it is the right time to start.

If you’re looking for a postgraduate degree, Online Manipal offers an M.Sc. in Business Analytics from the prestigious Manipal Academy of Higher Education (MAHE). Developed by the expert faculty at MAHE, this experiential learning approach as well as a well-designed comprehensive curriculum will help you ascend new heights in your professional life. You can develop your data skills from the comfort of your home using the advanced course material and lectures from expert faculty, and industry leaders. 

A degree from this Institute of Eminence university will give you a competitive advantage for career prospects. This also helps you achieve a quick career progression and emerge as a domain leader within a few years. Graduates in any discipline with Statistics as one of the subjects from recognised universities/institutions or an equivalent qualification as recognised by the Association of Indian Universities (AIU) with a minimum of 50% of marks or equivalent grade can enrol in the M.Sc. in Business Analytics at Online Manipal.You can explore more on the website now.

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