Sakshi Education
Organized Planning, hard work and learning from the once done mistakes, are the three vital traits of success for any business. In the new world of Liberalization, Privatization and globalization (LPG), markets are open and competition is mounting in all directions. Changing plans with the changing times keeps the momentum intact and profiting. Planning in these times needs exclusive expertise and experts of Business Analytics are serving the purpose. In this backdrop, here is an exclusive article on Business Analytics and careers.
Business Analytics comprises of a detailed analysis of a Company through the available raw data, find the loopholes and other imperatives of functioning, and ensue the possibilities for the better productivity and profits. For this, experts of Business Analytics use certain quantitative, statistical and technical tools of data gathering and analysis.
For instance, a company has initiated shopping malls in a city and the sales of particular products are low. Experts of Business Analytics are would research the reasons for the low sale and come up the schemes to improve the current position. Or, if a retail firm is eager to venture new stores in various regions of the state, then the experts of Business Analytics need to present a possible plan of success based on the patters of demography, tastes, financial conditions and requirements of the populations, and competitors in the region. Like wise these Business Analysts play an important role in functioning and expansion of modern business.
Increasing demand for the experts of Business Analytics:
A heavy competition is what drives the firms in present day market. In theses conditions a fresh plan a day, detailed analysis and equipped alternatives mark the survival for all firms. This has increased the demand for the experts of Business Analytics. McKinsey Global Institute estimates a shortage of 1.4 to 1.9 lakhs of these experts in American market by 2018. It also approximates a lack of 1.5 lakh skilled and strategizing managers and analysts. Scarcity of these experts in Indian market is also severe. This scenario has raised career potentials for the graduates of various Business Analytics Programmes.
Institutes offering Programmes in Business Analytics:
In view of the needs of present day job market, leading institutes and universities of the nations are offering a wide variety of Business Analytics Programmes. Indian Institute of Management Bangalore (IIMB), Indian School of Business (ISB) Hyderabad and Indian Institute of Management Kolkata are among these institutes. These programmes with added technical and managerial skills are carried out for interested students and working professional. Some institutes are offer courses of similar sort through on-campus and online modes. Further, some institutes in tie-up with foreign B-Schools are providing quality education in this area.
Here are details of few such programmes and offering institutions:
Indian School of Business, Hyderabad:
Some institute consider Bachelors in Engineering, Business Management, Science, Commerce, Mathematics, Statistics and related areas as eligibility, while the others consider a minimum of Masters Degree for admission.
Previous work experience is also considered in the eligibility for these programmes.
Freshers with better analytical skills and academic record are also given prominence.
Career @ Corporate:
Irrespective of the size, all small, medium and large scale enterprises are involved in some or other kinds of operations relating to business analytics. IT, Education, Manufacturing, Marketing, HR, Travel and Tourism, Health Care, Banking, Insurance, e-Commerce and all other sectors indulge in Business Analytics. With availability of modern information technology, all business realms have fall in urgent need experts of Business Analytics. These analysts facilitate the companies to have regular field level data, quick analysis and interpretations, which in-turn fastens the decision making trends and increases alternatives. Services Business Analytics Experts in branding and promotional aspects of marketing procurements serves as an apt example to explain the increased importance of Business Analytics.
Business Analytics comprises of a detailed analysis of a Company through the available raw data, find the loopholes and other imperatives of functioning, and ensue the possibilities for the better productivity and profits. For this, experts of Business Analytics use certain quantitative, statistical and technical tools of data gathering and analysis.
For instance, a company has initiated shopping malls in a city and the sales of particular products are low. Experts of Business Analytics are would research the reasons for the low sale and come up the schemes to improve the current position. Or, if a retail firm is eager to venture new stores in various regions of the state, then the experts of Business Analytics need to present a possible plan of success based on the patters of demography, tastes, financial conditions and requirements of the populations, and competitors in the region. Like wise these Business Analysts play an important role in functioning and expansion of modern business.
Increasing demand for the experts of Business Analytics:
A heavy competition is what drives the firms in present day market. In theses conditions a fresh plan a day, detailed analysis and equipped alternatives mark the survival for all firms. This has increased the demand for the experts of Business Analytics. McKinsey Global Institute estimates a shortage of 1.4 to 1.9 lakhs of these experts in American market by 2018. It also approximates a lack of 1.5 lakh skilled and strategizing managers and analysts. Scarcity of these experts in Indian market is also severe. This scenario has raised career potentials for the graduates of various Business Analytics Programmes.
Institutes offering Programmes in Business Analytics:
In view of the needs of present day job market, leading institutes and universities of the nations are offering a wide variety of Business Analytics Programmes. Indian Institute of Management Bangalore (IIMB), Indian School of Business (ISB) Hyderabad and Indian Institute of Management Kolkata are among these institutes. These programmes with added technical and managerial skills are carried out for interested students and working professional. Some institutes are offer courses of similar sort through on-campus and online modes. Further, some institutes in tie-up with foreign B-Schools are providing quality education in this area.
Here are details of few such programmes and offering institutions:
Indian School of Business, Hyderabad:
- ISB Hyderabad offers a year long executive Certificate Programme on Business Analytics (CBA)
- The class room technology based pedagogy is followed.
- Programme is scheduled to suit the requirements of working professionals.
- This programme includes guest lectures, projects and group works.
- Curriculum is designed in apparent concern for the aspirants to provide an in depth knowledge of multiple facets for the area.
- The syllabus covers Data Management, Data Mining, Statistical Analysis, Forecasting Analytics, Contemporary Analytics, Data Collection, Data Visualization, Business Fundamentals and Projects.
- Students are also equipped with MEXL, ARENA/SIMIO, XLMINER, MATLAB, STATA software tools.
- Website: www.isb.edu/cee
- IIM Kolkata offers a year long Executive Programme in Business Analytics.
- The programme is offered in ten modules, which includes Business Data Mining, Business Intelligence, Marketing Analytics, Financial Analytics, Operations and Supplies Chain Analytics, Mathematics for Business Analytics, Statistics for Business Analytics, Spread Sheet Modeling and Time Series Models in Business.
- It also consists of mandatory on-campus training, in two exclusive campus visits of five days each.
- Website: www.iimcal.ac.in
- IIMB offers a year long Business Analytics and Intelligence (BAI) Executive.
- This programme is offered in six modules, which includes Business Statistics, Predictive analytics, Optimization Analytics, Statistical Models, Advances Analytics and other concepts.
- Curriculum for the programme also includes a Project.
- Programme is offered either in online or on-campus mode.
- Website: bai-iimb.org
- IIML in collaboration with Kelley School of Business, Indiana University offers one year long part time Certificate Programme in Business Analytics for Executives (CPBAE).
- Class room and online based pedagogy is followed.
- This programme is offered in four modules, which includes Introduction to Business Analytics, Data Mining and Predictive Analytics, Simulization and Optimization for Business Analytics, Analytics Applications and other concepts.
- Website: www.iiml.ac.in
Some institute consider Bachelors in Engineering, Business Management, Science, Commerce, Mathematics, Statistics and related areas as eligibility, while the others consider a minimum of Masters Degree for admission.
Previous work experience is also considered in the eligibility for these programmes.
Freshers with better analytical skills and academic record are also given prominence.
Career @ Corporate:
Irrespective of the size, all small, medium and large scale enterprises are involved in some or other kinds of operations relating to business analytics. IT, Education, Manufacturing, Marketing, HR, Travel and Tourism, Health Care, Banking, Insurance, e-Commerce and all other sectors indulge in Business Analytics. With availability of modern information technology, all business realms have fall in urgent need experts of Business Analytics. These analysts facilitate the companies to have regular field level data, quick analysis and interpretations, which in-turn fastens the decision making trends and increases alternatives. Services Business Analytics Experts in branding and promotional aspects of marketing procurements serves as an apt example to explain the increased importance of Business Analytics.
- Every firm today has its own web domain. The induced need to supervise the progress of online operations and ROI (Return on Investment) has brought in the need for web analytics also.
- Some firms are maintaining their own in-house Analytics Teams, while the others are hiring the third party IT/ ITES service providers for analytic services.
- The cities of Delhi (Gurgaon), Mumbai, Pune, Bangalore, Kolkata, Hyderabad and few other cities of India are ideal to have a Business Analytics practice.
- Most of the Corporate Companies are hiring the specialists through campus recruitments.
- Analytical Skills: One need to have good data analysis skills that would brief the persisting conditions and help in bring quick decisions for the employer. An expert has to be thorough with Arithmetic Mean, Median, Mode, Measures of Depression and related concepts.
- Business Skills: One should have good skills to comprehend operations, goals and problems of a company and disseminate the much needed updates to the Directors on regular intervals.
- Creative Skills: The aspects of creativity and innovation of the individual plays an enormous in role in analysis of data and designing the alternative models. The creative skills are much needed for any expert.
- Communication and Graphic Skills: Making a right presentation of the analyzed data and designed models is equally crucial. The data has to be presented using bar graphs/ line graphs, circular graphs and other tools. Preparation of these analysis reports needs good graphic skills and their presentation needs good communication skills.
Prospective Jobs and Career:
The Gradates of Business Analytics, have good prospects for career. Junior Business Analytics Executive, Senior Business Analytics Executive, Assistant Manager (Business and Customer Analytics), Business Consultant (BPO/KPO/ITES), Project Manager (Analytics) and Team Leader are some prospective positions for the aspirants. Those starting as Freshers, at the juniors levels can hope to be in senior positions and team leads in two years. Those on gaining experience and those with experience can venture their own practice.
Pay-bands:
MNCs and large scale enterprises like Microsoft, Google, Genpact, TCS, IBM, Wipro and Dell are providing attractive packages. Corporate companies are offering Rs. 80, 000 to Rs. 1, 00,000 for the potential Business Analytics Experts.
25 per cent growth every year:
The Experts in Analytics are receiving a significant importance in India and abroad. The demand for them is growing by 25 percent each year. To flourish in Analytics Statistical, Mathematical and Data Warehouse Skills are essential. Potential experts are attracting avenues across the globe.
The Gradates of Business Analytics, have good prospects for career. Junior Business Analytics Executive, Senior Business Analytics Executive, Assistant Manager (Business and Customer Analytics), Business Consultant (BPO/KPO/ITES), Project Manager (Analytics) and Team Leader are some prospective positions for the aspirants. Those starting as Freshers, at the juniors levels can hope to be in senior positions and team leads in two years. Those on gaining experience and those with experience can venture their own practice.
Pay-bands:
MNCs and large scale enterprises like Microsoft, Google, Genpact, TCS, IBM, Wipro and Dell are providing attractive packages. Corporate companies are offering Rs. 80, 000 to Rs. 1, 00,000 for the potential Business Analytics Experts.
25 per cent growth every year:
The Experts in Analytics are receiving a significant importance in India and abroad. The demand for them is growing by 25 percent each year. To flourish in Analytics Statistical, Mathematical and Data Warehouse Skills are essential. Potential experts are attracting avenues across the globe.
Published date : 17 Sep 2013 04:51PM
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