Top business analytics jobs to look out for

Business analytics plays an important role in a company’s growth and development. It helps analyze market data, offers data insights, and enables faster and better decision-making. In recent years, the demand for business analysts has surged due to several factors, including technological advancements, a growing need for data-driven decision-making, and so on. According to projections made by the U.S. Bureau of Labor Statistics (BLS), employment of management analysts, including business analysts, is expected to rise by 10% between 2022 and 2032, substantially faster than the average for all occupations.

Thus, the need for business analysts is only going to increase, so it’s wise to arm yourself with the knowledge and tools you need to compete in the competitive employment market. Stay tuned as we discuss the top business analytics jobs, their trends, and how an online MSc in Business Analytics from MAHE can enhance your career.

Top Business Analytics Jobs

Here is a list of the top high-demand business analytics roles, including their roles, skills, and typical career paths.

1. Business Analyst

Role: A business analyst’s role includes improving a company’s processes, products, and services. Through their analytical skills, they find areas where the business needs more improvements and enhance business efficiency, productivity, and revenue.

Skills: Business analysts should be proficient in both soft and technical skills. If you are looking for a job as a business analyst, you must have strong analytical skills, knowledge of SQL, proficiency in data visualization tools, including Tableau, and strong communication skills.

Career Path: For an entry-level business analyst position, you require a minimum of a bachelor’s degree in a related field. After that, you can switch to a junior analyst, advancing to senior business analyst, project manager, and business consultant.

2. Data Analyst

Role: Data analysis is an essential process for any organization. As a data analyst, your role is to identify trends and patterns in historical information, analyze data, and make the decision-making process easier, faster, and more accurate.

Skills: A data analyst must be proficient in data analytical tools such as R, Python, Excel, and more. They must also have strong analytical, communication, and problem-solving skills and a solid understanding of statistical techniques.

Career Path: Start as a junior or associate data analyst, and with experience and knowledge, you can advance to senior data analytics roles, including data scientist, financial analyst, and so on.

3. Business Intelligence (BI) Analyst 

Role: A business intelligence (BI) analyst is essential to an organization’s ability to make well-informed decisions. They gather, examine, and analyze data, turning unprocessed information into insightful knowledge that influences a business’s tactics and financial performance. 

Skills: To become an efficient BI analyst, you should be proficient in SQL, data warehousing ideas, and BI tools (e.g., Tableau and Power BI). Strong analytical skills and attention to detail are also crucial.

Career Path: Get a bachelor’s degree in a related field, and then start your career as a junior BI analyst. With experience, knowledge, and certifications, you can advance to senior BI analyst and manager roles or director-level positions in business intelligence.

4. Analytics Consultant

Role: Analytics consultants translate complex data into usable insights and assist their firm or clients in making data-driven decisions. They use statistical tools and techniques to interpret complex data sets and deliver clear, data-driven solutions tailored to business needs.

Skills: You must possess data management, consulting, and technical proficiency skills, as well as strong analytical and critical thinking skills. You must also be able to communicate complex data findings easily and efficiently.

Career Path: In consulting firms, you can go from junior consultant to senior consultant, principal consultant, manager, and then partner.

5. Product Analyst

Role: A product analyst helps guide market strategies and improve product development by delivering data-driven insights and using them to improve product performance. Their role also includes conducting product and user research, shaping product strategy, and collaborating with cross-functional teams to ensure efficiency. 

Skills: Excellent analytical and problem-solving abilities, the ability to conduct product analysis and research, familiarity with product lifecycle management, business acumen, and proficiency with data analysis tools are required.

Career Path: After working as a product analyst for a while, you can advance to become a senior product analyst and eventually work in strategy or product management roles.

6. Marketing Analyst

Role: A marketing analyst’s role includes monitoring advertising expenditures, studying customer behavior, examining market trends and prospects, tracking results, and identifying areas where the business might expand.

Skills: You must be proficient in statistical methods, data analysis, and marketing analytics technologies. It’s also critical to have a solid understanding of advertising data and marketing principles.

Career Path: This role can lead to senior marketing analyst positions and then to roles such as marketing manager or director of marketing analytics.

7. Financial Analyst

Role: A financial analyst is a professional who assists people and companies in making wise investment decisions and gives well-informed advice to firms or individual investors. The analyst also evaluates historical financial information, recognizes market patterns, and investigates possible investments.

Skills: An aspiring financial analyst must possess an excellent knack for analysis and problem-solving, proficiency in financial modeling and analysis, powerful presenting and communication abilities, and proficiency in Python, R, Excel, and SQL.

Career Path: A financial analyst’s career path includes gradually taking on more challenging tasks and ultimately advancing to executive roles such as senior financial analyst, financial manager, director, and CFO.

8. Quantitative Analyst

Role: Using quantitative techniques such as statistical and mathematical methods, quantitative analysts assist businesses in making wise financial and commercial decisions. Their role includes determining lucrative investment opportunities and controlling risk.

Skills: Strong aptitude for analysis and problem-solving, experience in quantitative or mathematical domains, such as engineering, physics, or mathematics, and knowledge of programming languages like R and Python are required.

Career Path: Quants often advance to senior quantitative analyst roles and then become quantitative finance managers or risk managers.

Expected business analytics trends 

Staying ahead of the trends is crucial for those looking for the best careers in business analytics. It is also crucial for businesses looking to maintain a competitive edge and leverage data effectively. Thus, let’s explore some upcoming trends in business analytics.

• Modern business analytics is driven by artificial intelligence (AI) and machine learning (ML). These technologies make it possible for businesses to anticipate future trends, automate decision-making procedures, and glean deeper insights from data.
• There is an increasing need for real-time data analysis. Organizations are looking for speedier insights to make choices quickly. Technological developments in streaming analytics and memory-based computing will allow companies to evaluate data as it is generated, giving them instant feedback and improving operational effectiveness.
• There will be a shift toward providing even non-technical employees with access to data and analytics technologies. By offering user-friendly analytics systems and encouraging a data-driven culture, businesses will concentrate on empowering more team members to make data-driven decisions.
• There will also be greater emphasis on ethical concerns and the appropriate application of AI in analytics. Businesses will place a high priority on accountability, fairness, and transparency in their analytics processes to guarantee that AI technologies are applied morally and impartially.

Online MSc Business Analytics Program

If you’re looking to brighten up your career in business analytics, an online MSc in Business Analytics can offer you a bright future. The online MSc in Business Analytics from Manipal Academy of Higher Education (MAHE) is designed for professionals seeking to advance their expertise in data-driven decision-making and analytics. You may find it desirable due to these reasons:

• Comprehensive Curriculum: The program covers the necessary basic and advanced topics, including data mining, predictive modeling, machine learning, data visualization, and more.
• Flexible Learning: If you’re opting for an online MSc in Business Analytics, you can enjoy flexible learning at your own pace, balancing work and personal commitments. It’s a great option for working individuals.
• Practical Exposure: The course exposes students to the latest analytics software and tools and comprises tasks, projects, and case studies that let students apply their academic understanding to actual business situations.
• Certification & Accreditation: The program offers a recognized degree upon completion and is tailored to satisfy industry and academic standards. Additionally, all of MAHE’s courses are recognized and accredited by national academic associations like NIRF, NAAC, and AICTE.

Overall, the online MSc in Business Analytics from MAHE offers a structured and flexible way for professionals to gain advanced analytics skills and advance their careers in a data-driven world.

Conclusion

Business analytics is a valuable career that enjoys strong demand in the job market; the field offers impactful jobs, career advancement, and competitive compensation. Professionals in business analytics are in high demand as more companies look to use data to improve operations and gain a competitive edge. As business analytics grows, companies of all sizes are looking to hire qualified individuals with the right set of data literacy skills. There are many business analytics career opportunities available today. We’ve already mentioned the top business analytics jobs for you to consider. So, take the opportunity, enroll in the MAHE online MSc Business Analytics program, and land a rewarding career in your desired field.