How can You Pursue a Career in Business Analytics?January 14, 2019
Business analytics helps companies with gainful insights from large volumes of data it generates to automate and tweak business processes. Today, Big Data is the largest asset of companies which they deploy through statistical analysis to perform predictive business analytics, find relationships, patterns, and understand future outcomes.
The roles and functions of BI and BA are used in conjunction with the key differentiators being that BA deals with statistical analysis, data mining, multivariate testing, and predictive modeling. A career in business analytics is today the preferred and popular choice in ITES and IT sectors. The BA with an analysis in real-time supports decision making works closely with peers, and the organizational management to aid matters of marketing, product development and so on through data-driven decisions.
Here is how you can jump-start a career in business analytics. There is booming constant demand in modern times for business analysts and MBA qualified candidates in the developing ITES and IT industries. The areas where demand for BAs outstrips the supply are retail, healthcare, banking, hospitality, e-commerce, and manufacturing amid many others.
Jump start your career
On the road to a bright career today, you find that the BA job roles call for a fusion of project management and analytics. A foundation in engineering and mathematics with excellent communication and analytical skills is essential.
However, those who already have some background in business opt to enable a career as a BA by upgrading skills with online short courses. These aspirants are empowered with a good skill set in business analytics that helps them start a career with some certification.
Requisite Skills: A Business Analyst must have proficiency in the application of statistics with conceptual knowledge of suites like SQL, R, SAS, testing framework, SPSS, Hive and tools in BI such as Tableau, Excel, Spotfire, Qlik, among others. Skill sets required change depending on the infrastructure and organization’s requirements and functional roles needed.
While engineers tend to move towards the information management and data engineering fields, aspirants with some business experience easily transform into roles as a Business Analyst. An MBA graduate should enhance skills by doing a business analytics course in Mumbai.
These courses offer a good grasp of fundamentals, concepts, theoretical knowledge, practical skills and certifications that could help enhance your resume and career. They also offer boot camps, short term workshops and basic knowledge of SAS and R. While certification definitely helps you need to be an excellent communicator and work diligently to acquire the best analytical and business skills. Another advantage in such courses is of mentoring by certified and experienced industry aces that helps garner the latest best practices, techniques, skills, and practice on the latest trending technologies in the field of Business Analytics.
Payouts: BAs bring analytic and business skills to the table and receive good remuneration. The average annual salary is 859,025 INR/ year for a Senior Business Analyst as per the figures of Payscale. The annual average payouts of a BA is INR 6,44857/year as per Glassdoor.
Top Employing Enterprises: Some high-ranking companies in Business Analytics to watch for are Cognizant, TCS, IBM, Wipro, Infosys, Accenture, HP, Deloitte, Capgemini, Genpact among others and in no particular order. Some startups like Mu Sigma Analytics, Fractal Analytics, AbsolutData can offer you the best opportunities in the field of business analytics.