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Why is an MBA in Business Analytics a great career option?

Online Manipal Editorial Team | August 08, 2022

Technology is evolving at a quicker rate and businesses need to keep up with the changing technological trends to stay ahead in this highly competitive world. Data has become a critical factor in determining various business parameters and there is an increased need for professionals with exceptional data analysing skills.

Business analytics uses a set of technologies and practices for solving business problems by investigating the past performance of the business and devising plans to overcome its shortcomings. This is crucial for identifying loopholes in the business system and for fostering new and emerging technologies at the right time.

Business analysts are professionals who have mastered processes and techniques required to translate the data which can help business owners make timely strategic decisions on business operations, marketing, and even finance. 

What is an MBA in Business Analytics?

An MBA in Business Analytics helps you upskill and stay up-to-date with the latest concepts such as big data analytics, R-programming, Python, etc. The course covers data-driven studies along with business ethics, organisational behaviour, business and management principles, and marketing management. During the course, students will acquire the knowledge and skills required to collect and analyse data and present the data as easily identifiable trends and patterns. Statistical analysis, quantitative analysis, explanatory modelling, predictive modelling, etc., are some of the skills you can acquire by enrolling for an MBA in Business Analytics. 

The growing emphasis on data in firms and large government entities has opened doors to high- paying career opportunities in this field. Professionals who can interpret large amounts of data are greatly in demand and are paid lucratively for their services. Some of the potential business analytics careers that are set to grow rapidly in the near future are:

Also read: MBA Business analytics course details

Why should I consider MBA in Business Analytics?

A master’s degree in business analytics can assist you in comprehending the significance of data in business and how it can be used to improve corporate performance. 

Candidates who earn this degree will also be better equipped to learn about analytics approaches, which are crucial to any industry’s decision-making procedures. 

Additionally, a master’s degree in business analytics can give students the information and abilities needed to be successful in occupations involving data analysis and decision-making.

With a master’s degree in business analytics, graduates may find work possibilities at various levels within an organisation or corporation where they may put their knowledge and skills in data analysis, statistics, and other related fields to use.

Check out: How an MBA in business analytics can land you a job in MNCs?

In-demand job roles in Business Analytics

Business Analyst: A business analyst uses both business and technology tools to review a company’s operational procedures and design improvements. They analyse current business processes and provide suggestions for improvement based on the recent industry trends. This job role is of high demand in today’s fast-evolving business world as most companies need to make data-driven decisions to improve their performance and stay on par with other competitors in the industry. Business analysts are handsomely paid and their salary ranges from ₹ 3.0 Lakhs to ₹ 15.0 Lakhs per annum. (Source)

Big Data Analyst: A Big Data Analyst studies the market trends by identifying, collecting, analysing, and  visualising data that help in making future business decisions. A Big Data Analyst is responsible for multiple tasks ranging from conducting market research to mining data for information. Their annual salary ranges from ₹ 3.8 Lakhs to ₹ 15.6 Lakhs.

Market Research Analyst: A market research analyst gains insights into current market trends by collecting and evaluating performance reports, surveys, customer feedback, etc. Based on their analysis and interpretation they recommend to the organisations the best possible strategies that help improve their market standards and performance. A market research analyst’s annual salary ranges from ₹ 1.7 Lakhs to ₹ 7.7 Lakhs and increases with experience. (Source)

Data Architect: Data architects are in charge of creating the models, policies, procedures, and technologies that will be utilised to gather, organise, store, and retrieve information for the company. A data architect is a specialist who develops the corporate data strategy, including the requirements for data quality, data movement within the company, and data security. Data architects are highly compensated and their annual salary ranges from ₹ 13.5 Lakhs to ₹ 41.0 Lakhs. (Source)

Supply Chain Analyst: A supply chain analyst gathers information, analyses it, and then recommends changes to the supply chain system. They strive to encourage top-notch performance from employees and reduce the price of materials utilised in projects. The annual salary of a supply chain analyst ranges from ₹ 2.6 Lakhs to ₹ 12.0 Lakhs. (Source)

Predictive Modeller: A predictive modeller creates meaning and order from the disarray of enormous datasets. Data can be utilised in a business setting to acquire information on goods, clients, and rivals. The work of the modeller yields objective data with recognised patterns. The average annual salary of a predictive modeller is around ₹ 12.0 Lakhs. (Source)

Marketing Manager: Marketing managers are in charge of creating, planning, and carrying out strategic marketing plans for the entire company (or for individual business units and brands within a company) in order to draw in new clients and keep hold of current ones. Marketing managers’ annual salary ranges from ₹ 5.0 Lakhs to ₹ 35.0 Lakhs. (Source)

In general the job responsibilities of business analytics aspirants  may include working with data derived through statistical analysis, market research, customer feedback, revenue or sales trends, etc., as well as compiling datasets, analysing historical and current trends. A few of the senior job roles might require you to create effective operational strategies for improving customer service, marketing, finance, supply chain management, and more.

Also read: How to get into the business analytics industry?

Increase your knowledge and earning potential with an online MBA in Business Analytics from MAHE

When you consider pursuing an online MBA, it’s best recommended that you choose an esteemed university which provides quality online education. Manipal Academy of Higher Education (MAHE) is one such university which has NAAC A++ accreditation and provides UGC-entitled courses via its online platform Online Manipal. MAHE’s online MBA in Business Analytics is aimed at upskilling working professionals with the latest tools and skills in the field of marketing. MAHE’s online MBA curriculum is designed with the latest market trends in mind by expert faculty. 

Once you enrol for the online MBA programme from MAHE, you get free access to Coursera courses, live and recorded classes, online learning material, etc. MAHE’s integrated learning management system (LMS) is advanced and user friendly. Online courses from MAHE are no less than the on-campus degrees as they are widely recognised by many reputed hiring companies and educational institutions.

Bottom line

You may expect a significant return on your investment from an MBA in Business Analytics because of the positive effects it can have on your career, the improved compensation and employment options, and the skills and information you’ll gain that will only become more crucial in the future.

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