Analytics - Finance, Tech & Analytics Career Resources

What are the five must have qualities of a Scrum Master?

Posted on September 17, 2020December 5, 2023 by Imarticus Learning

A Scrum Master facilitates the inclusion of the Scrum methodologies to ensure smoother execution of the project plan. The roles and responsibilities of a Scrum Master lies somewhere between management and team leader. Finding a Scrum Master to fulfill the needs of the company is a very complex task, as the qualities needed for the role of a Scrum Master are carried by very few employees. The qualities vary from product to product, considering the unique features and the existing technicalities. Despite the individual requirements of the companies, there are five must have qualities of a Scrum Master:

Effective communication skills: The Scrum Master is a person who takes care of all the communication between the product owner and the entire team members, communication within the team, without actually being included in the strategy flow of the product. Considering the Scrum Master does not enjoy the authority and power to scare the people to achieve the objectives, the only way left is best communication skills. Here values and ethics plays an effective role. Giving respect and getting respect go hand in hand via effective communication network.
Healthy inter-personal relationship with team members (Community building and Servant leadership): Considering the Scrum Master understands the strength and weaknesses of the Product team members and the requirement of the projects, it is the core responsibility of the Scrum Master to guide the team members to remain organized, to speak out the problems and arrange the training and other such sessions as and when required. A Scrum Master may act as a team leader but does not enjoy the powers and authorities of a manager in real sense. The ultimate way to influence the team members is to command the respect.
In depth understanding of product and the related market: One of the key roles of Scrum Master is to understand the problems faced by the team members. Knowing the work-related technicalities in detail, a Scrum Master can help the team members with proper solutions without taking much time. Prompt and effective solutions help team members to remain progressive on the decided roadmap to achieve the goal.
Seeking continuous improvement: The ultimate objective of the Scrum Master is to improve the day to day working habits of the team members to improve the efficiency. The habit of an introspective and retrospective analysis of each and every process and procedure help the Scrum master to streamline and optimize the work as and when required. Scrum Master actually encourages the employees to step back and reflect to understand where they actually stand.
Understanding the difference between Servant leadership and traditional leadership: The role of Scrum Master is not to decide what a team is supposed to do, but to help the team with the support as and when required to achieve the objective by eliminating any impediments if present.

A servant leader is different from a traditional leader in a way that servant leader always thinks about the team members. The traditional leader serves the organization, whereas the servant leader serves the people in the organization. The execution of the management’s decision lies in the hands of employees, and employees tend to respond to those who think about them prior to the organizational goals. A servant leader understands that the employees not only work for the organization, they work for themselves too. Taking care of individual requirements to the best of the capacity is the role of a Scrum Master. Hence, a Scrum Master must have the core qualities of a servant leader, rather than a Traditional leader.

Also Read: Roles & Responsibilities Of Scrum Master

Role of Business Analyst in Agile

Posted on September 17, 2020 by Imarticus Learning

Business analysts’ community has been talking about ‘agile business analysts’, and this topic has been so much on the focus that there are courses conducted on how to become one. There is a LinkedIn group named ‘Agile Business Analysts”. After all, what is it about? Some people even wonder that they never come across any mention of business analyst while talking about Agile. Agile focuses on the concept of providing value to the clients, and this underlines the need for a business analyst. The difference is that in Agile, the entire team collaborates to do business analysis. There is indeed a substantial difference in the way business analysis is done in Agile and other businesses.

Business Analysis in Agile

Agile business analysis is different from the usual business analysis. Business analysts usually work on large volumes of documents. The agile business analysis emphasises on a smaller number of documents. To find a solution for a business problem and to decide on the documentation, an Agile business analyst work in collaboration with other members of the team. Another major difference is the concept of iterations, which are a time-boxed delivery cycle. They are short, unlike traditional projects. Each iteration goes through the complete cycle of requirement gathering to development, testing, and delivery. During each cycle, the team collaborate to determine what sort of analysis is needed to create a bigger picture without spending much time in building an inventory. You may enrol in a business analyst course to acquire the skills needed to excel in this role.

What is the Role of a Business Analyst in Agile?

Business Advisor: The main role of a business analyst in Agile is to support the product owner. An Agile business analyst scrutinizes the business domain, stocks and grooms the backlog. Business analyst courses focus on building these critical skills. The product owner is the ultimate decision-maker, who is responsible for representing the business needs and understanding the requirements. It the business owner who decides which requirement is important. However, the product owner may trust a business analyst if he/she is able to demonstrate good business analysis skills.
Domain Analysis: The business analyst is responsible for analysing, understanding and explaining the business domain and identify the problem that requires a solution. To achieve this, an agile business analyst facilitates discussions on revising, creating and/or elimination of business processes, what are the requisite information and who are the stakeholders, what are the systems involved etc. Along with this, the business analyst also facilitates the discussion about the policies and rules to guide the project. A business analyst needs to look into the requirement models and see if the models can be used even after the project is done and settled.
Stocking the Product Backlog: This means that the business analyst is responsible for creating a catalogue of user stories that represent the project. Each user story narrates the specific feature or functionality of the project that is valuable to the user or software solution.
Grooming the Backlog: It is upon the business analyst to maintain the backlog so that it can be used as a tool. A business analyst can provide information on the value of the different elements in the product backlog perceived by the stakeholders.

The role of a business analyst in traditional software development was clearer and well-defined than the modern context, such as Agile business analyst. The role of product owner sometimes masks that of the business analyst, however, the business analyst is responsible for providing adequate support to the product owner ad to ensure close collaboration between the team members to ensure the smooth execution of the project. Enrolling in a good business analyst course will help you understand more about the role.

Also Read: Rethinking the Role of Business Analyst

What are the Qualifications Required By a Data analyst

Posted on September 16, 2020January 30, 2021 by Imarticus Learning

Data analysts are those who convert mathematical figures and variables into simpler terms that could be understood by the people (usually management) and could thus supplement in a decision-making process. Data analysis as a field has wide applications across industries like marketing, finance, operations, and so on.

Given the widespread demand in the job market, a qualification through a data analyst course is always helpful in creating job opportunities for the people looking to build a career in this domain. However, there is various other qualification that is a pre-requisite to becoming a data analyst.

Completion of Secondary and Higher Secondary (or any other equivalent examination)
Aspirants need to complete their class 10th and 12th board exams with a minimum of 50 per cent aggregate. Students from a science background who have studied mathematics, statistics, economics, computer science, or other such subjects that require high analytical abilities are preferred, however, aspirants from other streams are considered as well.

Bachelor’s Degree

Every aspirant must have a Bachelor’s degree. Various degree holders can get a job as a data analyst. A list is given below

B.Math (Bachelor of Mathematics)
B.Com (Bachelor of Commerce)
B.Stat (Bachelor of Statistics)
B.Tech (Bachelor of Technology) Computer Science
B.Tech (Bachelor of Technology) Data Science and Engineering
B.Tech (Bachelor of Technology) Big Data Analytics
B.E (Bachelor of Engineering) Computer Science
B.E (Bachelor of Engineering) Data Science and Engineering
B.E (Bachelor of Engineering) Big Data Analytics

These Bachelor’s degrees would fetch jobs mostly at an entry-level. Most of the degrees above are in the field of maths, statistics, and so on. A qualified data analyst needs to have that knack of crunching numbers and playing with huge data sets, that is why people who have done their graduation are considered qualified. However, this list is by no means is exhaustive.

Master’s Degree

Post a Bachelor’s degree people can get data analyst jobs. However, to get into roles that are very high-end and require greater professional commitment from data analyst companies usually prefer people who have a Master’s Degree. A list of the most common qualification degrees for a data analyst job is given below

M.Math (Masters of Mathematics)
M.Com (Masters of Commerce)
M.Stat (Masters of Statistics)
M.Tech (Masters of Technology) Computer Science
M.Tech (Masters of Technology) Data Science and Engineering
M.Tech (Masters of Technology) Big Data Analytics
M.E (Masters of Engineering) Computer Science
M.E (Masters of Engineering) Data Science and Engineering
M.E (Masters of Engineering) Big Data Analytics

This list by no means is exhaustive and there are other Master’s degrees people might choose to pursue to get into data analytics. People usually prefer to do a job after the completion of their Bachelor’s and before Masters, as a work experience before Maters is often considered as an important qualification for the aspirant who is applying for the job role of a data analyst after Masters.

Data Analyst Course

An aspiring data analyst can also choose to do online courses on various internet sites like Udemy, Coursera, etc. Although it is not a mandatory requirement like the above three, it is a qualification that helps aspirants in many ways. People can learn a variety of software from this data analytics courses like

R Programming
Python
Apache Spark
OpenRefine
QlikView
Microsoft Excel
SAS

This is a qualification sometimes considered by a company for people who are new to the field. Even seasoned data analysts applying for new jobs do certification courses in these fields as most of them are adept with one computer language only and would their job titles sometimes require them to have a working knowledge of others as well.

Also Read: How to Become a Successful Data Analyst

What Are the Topics Covered in a Data Science Course

Posted on September 16, 2020October 19, 2021 by Imarticus Learning

Data Science consists of six major topics. These are:

Statistics
Linear Algebra
Machine learning
Programming
Data Visualisation
Data Mining

Through a data science course, one can have a better understanding of these topics. These topics are discussed further in detail through the course of this article.

Statistics:
Statistics is the mathematical branch of business which includes the processes of collecting, classifying, analysing and interpreting the numbers to draw an understanding of them and thus, draw a conclusion.
Statistics is implemented in various ways in the field of data science. These are:

Experimental Design: The answers to various questions are found through means of experimentation including samples size, control groups, and so on.
Frequent Statistics: The user is allowed to define the value of the importance of the result of data.
Modelling: Having statistical knowledge is important for the further success of a data scientist, even though it does not see daily use in their lives. Old statistical models are being slowly replaced with the new models.
Linear Algebra: Linear algebra is a section of mathematics which involves the process of linear mapping between vector spaces. It sees use in data science in the following ways:
1. Machine learning: When working with data that is dimensionally high and involves matrices, linear algebra comes in very handy. It’s component analysis, and regression techniques see the most use along with eigenvalues principals.
2. Modelling
3. Optimisation
Programming

Coding is a very important part of data science and being able to code well is extremely important for any data scientist. Having a background in computer science is thus a large advantage, however, if one does not have such a background then these skills can easily be picked up through a data science course.

Automating tasks not only saves time and effort but also helps make the process of debugging, understanding and maintaining codes simpler. The practical skills involved in programming are as follows:

Being comfortable with data development. Usually, people with a software development background find it easier to work on commercial projects at a higher scale.
Having experience in the database area, such as knowledge of modern databases like NoSQL and cloud as well as on older databases like SQL, is important to any employer.
Teamwork and collaboration are important as most work as a data scientist would be tone in groups. Thus communication with teammates and holding strong relationships would help keep productivity at a maximum.

Important practices here involve:

Maintenance
Avoiding the use of hard values
Documentation and commenting continuously
Refactor the code

Machine Learning

Machine learning is important in data science and has shown use in a large number of groundbreaking technologies like self-driving cars, drones, image classification, speech recognition, so on and so forth. This field is expanding every minute and expanding very quickly. Thus the knowledge of machine learning and its implication would be necessary for any good data scientist.

Data Mining

The process involving the exploration of data and extraction of vital information is called Data Mining. A data science course makes the understanding of such a topic much clearer. The commonly used slang in data mining are listed below.

Data wrangling/Data munging
Data Cleaning
Data scraping

Data Visualization

Even though the term may seem self-explanatory, there is more to it than what we see. Data visualisation is the process of communication of data and its results through pictorial or graphical representation. The goal of it is to communicate the findings of the data in the simplest way for understanding.

Thus a data science course would further equip aspiring data scientists with all the tools in the toolkit necessary for optimal success in their career.

Tips for Data Science Graduates Starting Their Career Amid Global Pandemic

Posted on September 8, 2020December 5, 2023 by Imarticus Learning

Starting your career amidst the global pandemic crisis and the worst ever recession is the last thing anybody wants to do. But you are left with no choice. The crisis is going to stay for longer, and you do not know when will the economy recuperate. Things could change forever. So, you need to strive to get through this. The good news for data science career aspirants is that businesses are becoming more and more data-centric and data-driven, and this opens doors to new job opportunities. All you need to do is to horn your skills and be ready to seize the best opportunity that comes your way. Another great thing is that most of the data science jobs are flexible and can be done remotely. However, virtual hiring process and kickstarting a career with virtual onboarding process may not be comfortable for a fresh graduate. If you are in the same shoes, worried about starting a career at the wrong time, here are some interesting tips that would help you deal with this situation.

Prepare Yourself to Deliver the Best

The pandemic has changed the way business is done. Businesses collect massive data, and they require a skilful data scientist to process this data. Now people are more online than ever before, and this means that the importance of collection and processing of data is increasing. This has made data scientists one of the most critical resources for organizations which aims at bringing out better business outcomes. Thus, data science career opportunities are increasing and diversifying. However, customer behaviour and data patterns are changing at a high pace, and this makes the job even tougher. New graduates should participate in hackathons to prepare themselves to handle the highly dynamic data.

Use LinkedIn

Needless to say, LinkedIn is the largest professional networking platform. And there is not a better time to spice up your profile than this. Recruiters are actively using this platform and you should spend time to create a good profile. Add a profile picture and a good background image. Make sure you add a formal image, avoid face filters. If you are a fresher, you can add your academic projects to show your experience. Make sure that you fill in all the sections. Recommendations come a long way in increasing your credibility. Try to add at least 4-5 recommendations. Follow industry experts and be a part of a professional group to discuss and stay updated on your field of interest.

Rework on Your Resume

Experts say that recruiters do not spend more than 5-7 seconds on a resume. This is because of the huge volume of applications they get in response to a job posting. So, your resume should be designed in a way that captures the best of your skills and experience and presents them in a nutshell. Also, they say that the resume should not be longer than two pages. Many recruiters use Application Tracker Software (ATS) to screen the resume. It is done by matching the keywords related to the skills and experience stated in a resume with the job description. So, make sure that you edit your resume to incorporate the keywords given in the job role. This indeed means that you need to create a custom-made resume for each job opening. However, you need not create a new resume every time. You can create a basic structure and keep making changes to it.

Take Up Gig Assignments

Till you land on a full-time job, try to take up gig projects. This not only gets you a small income but also provides you with relevant experience to showcase on your resume. This is also an excellent opportunity to connect with other professionals and to showcase your skills.
Although the requirement for data scientists is increasing because of the changing business and economic landscapes, businesses would prefer to hire experienced professionals. This is going to be the most difficult challenge a fresh graduate is going to face. So, to make things work, freshers should consider taking up more independent projects and freelance works to showcase their experience. With the right combination of qualification, skills, and experience, kickstarting a data science career is not a tough nut to crack even during the pandemic crisis.

Also Read: Is Data Science Good Career in India?

What is Business Management As a Course?

Posted on September 7, 2020December 5, 2023 by Imarticus Learning

What is Business Management?

Business management is a culmination of two disciplines which involve organising, planning and investigating various business activities. By taking up a business management course one will have the opportunity to confidently work in a variety of industries at a variety of positions.

Business Management as a Branch of Education
As a subject, business management is a particular division of education that imparts knowledge and coaching on topics related to planning, analysing, overseeing and implementation of a business endeavour.

A person taking up a business management course will learn how the establishment of a corporation or an organization is done along with gaining information on establishing various functional units. These units include production, finance, administration, human resources (HR), sales and marketing.

The best part about a business management course and the field of business management is that it is inclusive of people of all backgrounds, that is, commerce, arts or science. Students can study business management at an undergraduate, postgraduate or even doctoral level.

Courses and Specializations under Business Management

The courses available will differ when considering the level of education an aspirant is looking at. When talking in terms of an undergraduate (UG) student, the courses generally available are as follows:

BBA
BMS
BBM
Integrated MBA
BBA LLB

When talking in terms of a postgraduate (PG) student, the courses generally available are as follows:

MBA
Executive MBA
Distance MBA

If an aspirant is looking for courses at a doctoral level, the generally available ones are as follows:

Some of the various fields in which one can use business management are as follows:

At a BBA level:

Human Recourses
Finance
Marketing
Sales
Digital Marketing
Family Business
Banking
Insurance
Tourism and Hospitality
International Trade and Business

At an MBA level the possibilities remain the same as the above along with a few additions:

Entrepreneurship
Advertising
NGO Management
Sports Management
Transport
Healthcare
Infrastructure
Retail
Material Management
Supply Chain
Textile Management
Public Policy
Accountancy
And the list goes on.

Jobs That a Person Can Bag With a Background in Business Management

The versatility of the fields that a person can choose with a background in business management is what makes the course so popular today. Among these jobs are:

Management Trainee: This job involves working under the guidance of superiors while performing the function of a manager. They would be required to know about the various operations and make sure that the work is handled in time.
Sales Representative: This job involves the selling of goods, maintaining customer relations, keeping a record of present customers, and pulling new customers.
Marketing Executive: People in this job are required to formulate various plans to increase the number of sales by pushing the reach of the goods they provide. They also help in strategising plans and executing them.
Manager: By supervising subordinates work, thus ensure everything gets done on time, a managers job is to maintain stability and increase revenue. They help in organising the daily functioning of particular departments, often pushing them to meet targets by encouraging them.
Assistant Manager: The job of a person at this level would entail helping the manager in any areas they would require assistance while handling and organising a department.
Financial Analyst: By collecting information on various areas of financial improvement and analysing it, a financial analyst is responsible for identifying the various opportunities available to an enterprise. This would require handling stocks, funds, bonds, etc.
Business Analyst: Responsible for predicting and finding the risks and loopholes in a particular project, a business analyst is a very important asset to any organization. They act as advisors to superiors, thus helping in the planning of future projects.

Also Read: What is Business Management Program

How Do I Start a Data Analytics Study?

Posted on September 4, 2020May 30, 2025 by Imarticus Learning

Before commencing anything new a lot of questions and queries baffle the mind. When starting a data analytics study there are some factors one must keep in mind for a smooth and practical flow of the study. By investing some of the time in the beginning to follow these steps, a good amount of time and efforts can be saved while carrying out the actual study.

Keep the following points in mind before kick-starting a data analytics study.

Understanding the Capacity: Before you begin to explore a particular study in data analytics, it is significant that you know about the whole capacity of data analytics.

There is going to be a great requirement of the theoretical knowledge and deep insight about data and understanding data. Learning about the coding languages and syntax is paramount to make a hold on data analytics.It can prove to be advantageous if you take up a data analytics course online which can make you learn data analytics and its different elements in a precise and detailed manner. You may refer to Imarticus learning which can help you hone your undiscovered skills and make you a genius in data analytics.
Experimenting: Once you gain proper knowledge about the coding languages and their systematic usage, it is really important that before you jump on to the main data analytics study, you apply what you have learned by the way of an experiment. Internet is filled with data published by various renowned companies which can be used for the experimentation. Experimentation is the only means which can help you establish a relation between the cause and the effect.
Specifying the Pre-requisites: Once you are done and satisfied with your experimentation, to begin the actual study in data analytics you need to specify the requirement of a specific date on which the research is going to be based. This data can be in any form like the number of people from the general population or the number of people working from home etc. Understanding the specifications of the data, in the beginning, is paramount.
Collecting the Data: After specifying the requirements of data and recognizing the sources of that data, the collection has to be started. Data can be availed from various sources like the company portals or the organizational databases.The collection of data has to be appropriate and methodical so that it is not hard to decipher when the study begins. Sometimes the data collected is not at all in a usable manner and has to be filtered on various levels before beginning the actual study. In such a scenario, the data undergoes a processing and cleaning process.
Processing the Data: For better understanding, scattered data has to be represented methodically for the study to be smooth. In this step, various tools are used to make the data workable. With the help of bar-graphs, tables with rows and columns, data are presented systematically. Generally, the use of spreadsheets is done for a structured display of data.
Cleaning the Data: At this point, still, there would be a lot of information which is going to be of no use while carrying the study. There are chances that there is a duplication of the data. Most of the times there are certain errors in the data which may cause a lot of problems while studying and analyzing it. Such errors are got rid of in this cleaning process.

After following these steps, the study of data analytics can be taken forward in a hassle-free and smooth manner. To learn data analytics and how to communicate the data after analysing it, refer to Imarticus leaning which is an ideal way to learn data analytics through professionals.

What is Business Analysis Tools and Techniques?

Posted on September 4, 2020December 5, 2023 by Imarticus Learning

Business analysis involves professionals who are responsible for understanding and identifying companies and various opportunities and issues. It requires the professionals to be hands-on and interact with people of higher positions like CEO, Vice President, Directing staff and thus understand their needs and what they require to embark on a successful plan.

There are 3 types of analysis in business. They are as follows:

Strategic Analysis: This involves pre-planning a project and thus having an overview of all the risks and problems that may come up. Analysts would be required to come up with a fully functional plan and meet certain goals. This is then reported to upper management which uses the information to make rational decisions.
Tactical analysis: This process involves gathering information on specific analysis techniques to use on an apt project.
Operational analysis: Using AI and learning about the operational systems, in this type of analysis a professional would be required to gather information about various available opportunities.

In order to work in the area of business analysis, one needs to be well versed with the various business analysis tools and techniques that would be required. An aspirant can find out more and learn all the necessary information by going through a business analysis course.

Business Analysis Tools and Techniques

SWOT analysis: SWOT is an acronym. Each letter stands for Strength, Weakness, Opportunities and Threats respectively. In this technique, strength and weakness are intrinsic factors while opportunity and threat are extrinsic. Being an analysis technique at an enterprise position makes it applicable to fields outside of business as well. It is popular for how easy it is and can be applied to a project at any developmental stage efficiently. Hence, it is the most widely used technique.
MOST analysis: Standing as an acronym for Mission, Objective, Strategy and Tactics, this technique is among the best. It serves to gather information about the companies goals and plans and what it would require to make it successful. It makes sure that an organization maintains its focus on the project and on its goals.
BPM technique: BPM stands for Business Process Modelling. This method used to find the loopholes and gaps between existing and future processes. This technique makes it easy to have an overview of how the business would function in various roles. This allows planning and visualisation of further steps in the process of execution, making complex analysis simpler for professionals.
Use Case Modelling: This technique uses a pictorial representation of the interactions made by users. It helps convert the various project requirements into actionable specifications cradled within another already existing project for development. The various components of a UML diagram are as follows: 1. Systems 2. Use Case 3. Actors 4. Association 5. Stereotypes. This technique boasts various advantages. It allows the analyst to understand the functional requirements that were originally placed and emphasize on vital functional areas.
Brainstorming: A technique which serves as a base to other popular techniques such as SWOT and PESTLE analysis, Brainstorming is one of the most popular techniques amongst various analysts. This is a group activity which allows the members to formulate and present their ideas while looking at the various risks and loopholes and finding solutions to various issues.
PESTLE Analysis: This technique takes into account the various environmental influences that affect the business analysis. This includes Political, Economical, Social, Technological, Legal and Environmental factors that serve to form the acronym. These factors play a huge role in finalizing business decisions. This straightforward framework requires a network of skills and a large amount of experience.

Hence a large amount of information needs to be known beforehand in order to work in this field. This can be done through a business analysis course. A business analysis course would prepare an aspirant while slotting in all the necessary tools in their tool belt to make them successful.

Also Read: What are Business Analysis Techniques

Feasibility Study: Types and Importance in Business Management!

Posted on September 3, 2020March 26, 2024 by Imarticus Learning

Feasibility study, as the name indicates, is an analysis of the feasibility of a project both technically and legally and if it is economically justifiable. This helps an organization from making the wrong investment. A project can be unreasonable for many reasons. Some might require too many resources that would keep them from doing other tasks.

This might eventually cost the company more than what they have invested in the projects. A good feasibility study covers key areas like the details of the services or products related to the project, account statements, legal obligations, tax requirements, financial data, and policies. Some projects might require additional investment in technology and for implementation of the project. Feasibility study finds relevant in the current-day business landscape which is severely affected by the COVID-19 pandemic.

Many organizations prefer to ensure the feasibility of a project before investing in that. This makes it an excellent career choice more than ever. To pursue this career, you may enrol in a Business Management Course.

Different Kinds of Feasibility Studies

Depending upon the type of project evaluated, feasibility studies can of different types. Some important types are:

Technical Feasibility Study

In this type of project assessment, the focus is on technical resources in a company, and if their technical team is skilful and capable of converting the concepts and ideas into practical working models. The person is also responsible to evaluate the technical requirements including software, hardware, and other components.

Economic Feasibility Study

As the title suggests, the role deals with the cost factor. This role is designed to help the organization to decide if a project is viable and economically feasible, after evaluating various factors. This is done before allocating the financial resources needed for a project. Assessing a project independently also helps enhance the credibility of that project, and to evaluate the economic benefits the proposed project brings to the organization.

Legal Feasibility Study

While finalizing and approving a project, it is important to make sure that it does not conflict with the legal aspects about the subject – data protection rules, social media regulations or zoning laws.

For example, if an organization is planning to build a new office or moving to new premises, the legal feasibility manager is responsible for making sure that that kind of business is allowed in that location, and that locality is not part of any special zone with restrictions to certain businesses.

Operational Feasibility Study

Operational feasibility assessment involves a thorough analysis of a project and its outcome to determine if that project can satisfy the needs of the organization. Mostly requirement analysis is done while the system development is in progress, and while doing a feasibility study, the capability of the project to satisfy the needs identified during requirement analysis.

Scheduling Feasibility Study

For any project, the timeline is important. A project will not be able to deliver the expected result if not completed on time. Scheduling feasibility is concerned with estimating how much time would it take to finish.

The Relevance of the Feasibility Study

Organizations need to invest in the right project. So before committing, organizations prefer to analyse the project in terms of resources, budget, and time. Sometime, feasibility studies could help to unearth a new idea or scope. Also, conducting a feasibility study is important for the stakeholders to get a clear picture of the project. Conducting such a feasibility study has many other benefits including:

Helps in decision-making (about the project).
Improves the success rate by assessing multiple factors.
Identifies and establishes a strong reason to take on the project.
Recognizes new opportunities for improvement.
Identifies flaws and unreasonable grounds to call off a project.
Improves the focus of the project team.

You now know the importance of feasibility studies. If you want to pursue a business management career, enrol in a good course offered by a reputed organization like Imarticus Learning.

Not only you get business management training from good faculties, but also get to build your network and secure a good job. Imarticus has partnered with many leading organizations to get a good launching pad for their students. After all, what could be a better beginning than working with a market leader!

How Covid-19 Crisis Can Work In Your Favour When Starting A Career In Data Science?

Posted on August 24, 2020March 26, 2024 by Imarticus Learning

How has Covid-19 Impacted the World Economy?

Coronavirus widespread has brought about many drastic changes in the economy of the world. There are some serious threats of downfall to even some of the renowned companies of the world. But some of the Entrepreneurs have tried to look at the brighter side of this miserable pandemic and have established pretty decent businesses to sustain themselves.

Some of the serious impacts of Covid-19 on the World Economy can be understood by the following points:

A Vicious Circle

Considering the current situation, the economy has more or less become a vicious circle. Because of no money in the market, there are no sales.

No sales give rise to a situation where the sustainability of the business along with the payment of salaries to employees becomes impossible.

This whole situation has no disposable income in the market to be processed.

Loss of Jobs

There is a huge population in the world which has lost its job in the times of Coronavirus Pandemic.

Apparently in times where people are being laid off, expecting to get hired somewhere sounds like an arduous task. This has been the worst hit on the economy so far.

Pending Payments

People who owe the banks are currently unable to deal with the situation and banks, on the other hand, are not been able to dispense cash to their customers because of the delays in their timely receipts.

This whole situation has become chaos and it’s very hard to understand the future course of action in terms of Financial Management.

Starting Career in Data Science in times of Covid-19 Pandemic

Although the Covid-19 period has not been easy for anyone on the planet, still things are meant to get back to their place. For all the budding Data Scientists aspirant to kick-off their careers in Data Science, this current period can prove to be beneficial. They need to focus on the problems that are being faced by the whole world at large.

Moving even a step forward in the direction of the solution can be a great achievement and budding Data Scientists must grab all the opportunities that come their way.

Following points can be considered to start research:

Automated Sanitizer Doorways

To get rid of the Coronavirus bacteria, Sanitization is a must and thinking something in this respect can prove to be a success. Automated Sanitizer doorways can be installed at the entrances of all the buildings so that nobody enters inside being infected by the virus.

Body Temperature Wrist Watches

People all over the world are worried about their and their family’s health. Automatic wristwatches can be developed which can display your body temperature on the dial at all times.

Face Detecting Cameras

The Coronavirus is spreading because it is contagious. However, wearing masks can be beneficial for all human beings living on this planet. Face detecting Cameras can be developed which can automatically detect people without masks and send a ticket at their e-mail addresses.

Currency Notes Sanitizer Machines

Most of Coronavirus spread has taken place because of the Currency notes. If there is a machine that can take up notes from one side and after sanitizing them, dispenses them from the other side, there is nothing better than that. These machines could be installed at Public Places and specifically in Banks. Instead of Sanitizers, UV lights can also be used. Data science will find use in all of the areas given above.

Overview

Data Science is a field that needs brainstorming at every moment. Considering the current situation, the above-mentioned points can be the base for research and these gadgets can create a monopoly in the market.

One can turn these challenging times into something productive that could lead to a stable career.

For an established Career in Data Science, analysts can take up the Data Science Course to be proficient in their areas of work.

Category: Analytics