In recent years, job opportunities in business analytics have exploded.
Did you know that there is such a high demand for competent experts in the field that businesses like Microsoft and Google host annual conferences to encourage more people to get involved in the Big Data movement? This blog covers all you need to know about a career in Business Analytics. As a business analyst or data scientist, business analytics graduates might work in a variety of industries and enterprises.
Multinational firms are increasingly need the abilities of talented business analysts to produce data models, insights, and strategic solutions in today's era of big data.
Continue reading to learn more about the benefits of business analytics and why it's a great option for a university degree. Source: Safalta.com Register here for Free Demo Classes
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Table Of Contents-
1. What Business Analysts do?
2. Business Analytics-A Good Career?
3. Salary In Business Analytics
4. Business Analytics Career Opportunities
5. How To start A Career In Business Analytics?
6. Career Path In Buiness Analytics
7. Sills you will gain from a Business Analytics Degree
9. Related Jobs
10. Where could I work with a Business Analytics Degree?
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Source: Safalta.comWhat to expect as a Business Analyst
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In recent years, there has been a massive push towards collecting, preserving, and analyzing large amounts of data. This revolution is one of the most significant undertakings by all companies globally and is the top priority right now. So, Why is Big Data so big? The reason is simply that it gives results! Data is one of the biggest assets a company can have and to process and utilize these raw data sets, they hire Business Analytics professionals.
Business Analysts use statistics and algorithms to harness this data into powerful knowledge. As a Business Analytics professional, you will provide critical insights and ensure support and success in stakeholders’ informed decision-making.
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Yes. Business Analytics is an excellent option for you, no matter which department or industry you work in. Whether you are a fresher or a working professional who’s already employed and now wishes to take your career to the next level, Business Analytics can definitely take you to newer heights.
The demand for Business Analytics professionals is unprecedented, and it is only growing.
With greater need, the salary is naturally high.
Not only this but moving upwards in your Business Analytics career path is also very easy.
If you are interested in a Business Analytics career, you can take the help of reliable resources available online.
According to a study by IBM, 39% of job postings in Data Science and Advanced Analytics require applicants to possess at least a master’s degree.
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Business Analytics As a Lucrative Career
According to India Today, an Analyst receives an average salary of INR 11 Lakhs in a year. You can aim to build a stable Business Analytics career in India and across the globe. To know more about the business analytics salary, read this- Business Analyst Salary In India 2022
Don't worry if you're interested in learning more about the Business Analytics field. There are several options in a variety of businesses. Analysts are also needed in all departments, including Financial Analysis, Marketing Analysis, Sales Analysis, Product Cycle Management, Client Services, Human Resources, and others.
So, if you're passionate about a certain profession but lack the necessary college degree, or if you're looking for a different industry to work in after earning your MBA in Business Analytics, you'll discover lots of options. Business Analytics occupations are an excellent alternative for learners who wish to keep their options open, given the high demand in the employment market (both in India and worldwide).
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You must be proficient in mathematics and statistics to begin your Business Analytics profession. But that's not all; you should also be familiar with today's most popular programming languages and tools, like as SAS, Hadoop, R, and Python. Your position will also require you to employ intelligence and visualisation products like as Power BI and Tableau. Most importantly, because you will be working with key decision-makers, you must have an analytical mentality and great communication skills.
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To be honest, a Business Analytics career has a pretty broad reach. If you're thinking about a career in business analytics, keep in mind that your job description will be fluid. The position will require you to think on your feet and encourage both your creative and technical sides. Finally, you will determine how to proceed with your quest.
Business analytics is a career path with a lot of options. A Data Scientist or Solution Architect can work if they are technically inclined. A profession that requires Business Analytics, as well as Leadership Skills, is a fantastic alternative for someone who is good at understanding patterns and consistency or inconsistency in data. Business Analysts are increasingly being engaged by consulting firms.
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During your degree you will develop your ability to analyse problems and think critically in order to find creative solutions. You will also gain experience making strategic decisions based on market trends.
Using statistical models you will learn how to analyse large data sets to inform business strategy and new business ventures. For example using information to understand consumer behaviour and buying decisions, and applying that to a marketing strategy.
A business analytics degree will develop your communication and presentation skills. If you go on to be a business analyst, you’ll be consulting with many different teams on both the technical and business side, so being able to adapt your communication style accordingly is an indispensable skill.
You’ll gain an understanding of technology and programming languages such as Java and C++, so you can adopt a technical mind-set when approaching business problems. You’ll also gain experience with different testing methods and databases.
Business analysts need to be able to work under pressure, manage projects and deliver to important timeframes.
During your degree you will develop these transferable skills, enabling you to prioritise tasks and manage your time effectively in your studies and beyond.
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Business analysts are largely office-based but may require travel to meet clients and stakeholders. Working hours vary depending on your employment basis, but if you are a permanent employee you could expect to work full time, Monday to Friday.
Business analysts use tools for data visualisation, business intelligence reporting, analytics and statistical analysis.
Through quantitative analysis you’ll collect and interpret big data, and apply it to decision-making across many areas of the business.
You’ll also be responsible for database management and data modelling.
In addition to business analyst, job roles directly related to your degree include:
Market research analysts collect and examine data and information on consumers and market trends. Through quantitative or qualitative research you’ll help clients and colleagues understand insights that will drive sales of products and services.
This role involves improving business performance and processes through strategic analysis. Working with business and IT teams, process analysts review internal systems and develop strategies that drive improvement.
Similar to business analysts, data scientists use a combination of technical and analytical skills to translate large amounts of data into meaningful solutions to business problems. Data scientists share insights and data models to help companies make objective decisions.
Usually employed on a consultancy basis, management analysts help businesses improve or navigate challenges. They collect and analyse data and use results to recommend solutions that will improve performance, drive efficiency or support with organisational changes.
Business consultants work on a contractual basis and work with companies to solve a specific problem. These professionals generally specialise in a particular area of business, such as human resources or marketing, and work to analyse and improve processes.
As a Business Analytics graduate, you can work in any industry. You may choose to specialise in a particular industry such as banking or energy, or you may also work in an specific area of business like marketing or supply chain management.
For example, you could work for:
- Specialist business analysis firms
- Consulting and professional services companies
- Public sector organisations
Companies have realised that the necessity for fresh thinking minds is critical. A career in business analytics will place you in an exciting, fast-paced setting where you will be working with the CEO of your company from the start! Business Analytics is a hard yet rewarding job that challenges you to think large.