Business Analytics is not just about data processing. It is this huge convergence of technology, skills, data, market research, and applications that determine the roadmap for businesses. For businesses to thrive and prosper in the highly competitive consumer-driven market, it is very important to make strategic decisions based on statistical data derived and interpreted through data analytics. It is very interesting to note that as per the World Economic Forum, by the end of 2020, 44 Zettabytes of data will be created through various channels and mediums of communication. So the pivotal question remains – are all of them relevant for decision making in business? The answer to this question forms the bedrock of the most competitive tool, business analytics.
Typically, business analytics involves finding solutions to three major challenges and these are:
Business analytics is not something that everyone can do. It requires specific training and skill set. Bringing together all the data points from organizational processes such as sales, product development, and marketing, and interpreting them to reach hidden problem areas and solutions is the core of business analytics. Hence if any professional is keen to add a great deal of diversity into his portfolio, then getting enrolled into an Executive Program in Business Analytics crafted by the top B schools in the likes of IIM might prove to be the game-changer. These executive programs have a structured learning approach covering both the fundamental and advanced level components. One not only learns the prevalent analytics tools but also expands his scope to work in marketing, product development, and operations across different sectors.
Armed with the knowledge of Business Analytics one develops capabilities of transforming the way enterprises thrive in the complex business ecosystem by:
Based on a study conducted by Mordor Intelligence, the business analytics market is pitted to reach a staggering value of USD 103.65 billion by 2025 from just USD 67.92 billion in 2019. Hence, there is a great prospect for those who want to make a career in the field of business analytics. The one year Executive Program in Business Analytics delivered via live onsite learning and on-campus classes, prepares one for greater management roles in the future.
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