MBA in Business Analytics – Meaning, Career, and Scope
An MBA in Business Analytics is a professional course that equips you with essential and relevant management skills required in a digitally savvy world. The degree is a step beyond the usual master’s in business administration, as it focuses on data literacy and the involvement of technology in our lives.
While an MBA is a preferred choice for graduates who wish to land executive positions in the industry, an MBA in Business Analytics is a step forward and future-proof degree that attaches extraordinary leverage to your resume. KK Modi University in Chhattisgarh offers MBA in Business Analytics. Here’s everything you need to know about the two-year postgraduate courses.
MBA in Business Analytics: Definition
An MBA in Business Analytics in India is a professional multidisciplinary degree that studies business fundamentals, management practices, communication, leadership, technical skills, and business analytics. The program comes with a particular concentration in data analytics and digital literacy. The degree broadly covers a comprehensive set of topics that model the business leaders of tomorrow. The course covers both Business Intelligence and Advanced Analytics.
- Business Intelligence referred to the process of reviewing historical data and collected records to study the performance of a particular product or service within a certain time. It is used to understand consumer behavior and the market’s response to the business. The process includes querying, reporting, and studying online analytical processing.
- Advanced Analytics is the field of performing predictive analytics through the framework of statistical algorithms to predict how a new service or technology will affect sales. It is a specialized field that requires trained graduates in Business Analytics who can carry out these operations.
An MBA in Business Analytics can:
- Get answers to critical questions.
- Extract solutions based on data instead of guesswork.
- Delves into the customer behavior and gets insights.
- Discovering diverse avenues for sales.
- Reading and interpreting business metrics reports.
MBA in Business Analytics: Curriculum
MBA in Business Analytics covers the fundamentals of business and hones a data-driven perspective in all students. The module covers the core MBA topics as well.
|First Year (Core Subjects)||MarketingAccountingFinanceOrganization DesignHuman Resources ManagementDecision SciencesOperations Management Applied ProbabilityStatistical ModelsIntroduction to ComputingTime-Series and Forecasting TechniquesMachine LearningBig Data Analytics|
|Second Year (Business Analytics)||Artificial Intelligence & Deep LearningMultivariate Data AnalysisOptimizationBusiness Analytics and IntelligenceBusiness ForecastingSocial EntrepreneurshipSupply Chain AnalyticsMarketing AnalyticsSports AnalyticsSocial Media AnalyticsModel-Business DecisionInfrastructure Development|
MBA in Business Analytics: Scope
MBA in Business Analytics is a professional multi-disciplinary program designed to guide students to operate analytical tools and processes that solve the urgent and long-term issues of a business. The multifold scope of the program enables students to identify, define and solve problems through techniques and patterns. With an MBA in Business Analytics, graduates get an in-depth understanding of science and gain insights that aid in developing business strategies.
The MBA teaches:
- Acquiring an analytical mindset that understands and interprets methodologies.
- Preparing innovative applications across top-to-bottom functional areas of management.
- Understanding the technology usage, business context, and data science.
- Learning storytelling and using communication tools to identify issues within the management.
- Learning various techniques and tools of analytics to ease business operations.
- Learning to solve problems across various industries.
MBA in Business Analytics: Career
MBA in Business Analytics is a highly coveted professional degree that equips graduates with a data-based mindset for business. Graduates from leading colleges claim internships with an average two-month stipend of INR 1,58,000. Multinational corporations such as Accenture, Crayon data, Exl Analytics, Global Analytics, Convergytics, Fractal Analytics, AbsoluteData, Mu Sigma, Manthan, Brillio, LatentView, and Gramener are the leading recruiters for analytics postgraduates.
The positions available for Business Analytics graduates are:
- Marketing Manager
- Operations Analyst
- Personal Financial Advisor
- Business Analytics Specialist
- Management Analyst
- Financial Analyst
- Business Intelligence Analyst
- Management Consultant
- Supply Chain Analyst
Business Analytics is often termed “the sexiest job of the 21st century.” Sadly, there is not enough supply of qualified professionals to keep up with the demand. A recent survey found that data analytics is the most popular skill sought in middle-level positions. Many businesses suffer from a lack of talent in the analytics department. A new crop of business analysts is required at an urgency, making this career a safe bet for aspirants across the world.
MBA in Business Analytics Vs MBA
MBA in Business Analytics is a step ahead of a regular MBA. An MBA in business analytics focuses on training graduates to make informed decisions that can scale business operations. Whereas a regular MBA is a rather generic degree that trains graduates about the fundamentals of business operations and the ins and outs of running a business. Business Analyticsgraduates are taught to be the business leaders of the future. They use software to interpret the data-based results and apply their findings to make data-based decisions.
MBA in Business Analytics: Who Should Do It?
An MBA in Business Analytics is best for those who have an analytic mindset, a knack for statistics, and an inclination to lead a business savvy. Those interested in any aforementioned points can pursue the MBA to launch their career as specialized business analysts.
Here’s who should pursue the degree:
- Those with principled business practices and the heart to make data-driven decisions.
- Those with an enhanced understanding of data analytics tools.
- Those interested in leveraging data insights to make business decisions.
- Those who wish to merge the data and tech fields to deliver outstanding results for the company.
MBA in Business Analytics is a future-forward professional degree that teaches graduates how to run and scale businesses by setting pricing strategies, working on the efficiency of their supply chain, and so much more.