The two main questions that trouble candidates looking forward to make a career in business analytics are, firstly, what is the future of this niche in Indian context and secondly which college/ institutions offers the best opportunities to explore the world of business analytics and intelligence in India. Given the fact that even after post graduation, employment isn’t more than stagnant, it is obvious for students to turn to a more rewarding degree program. A program that gives a good return-on-investment in terms of a sure shot successful career is most sought after. Colleges today are trying to customize their courses in order to meet the employment opportunities in the corporate world. This is where business analytics comes in picture. Investigating and analyzing performance of business in past in order to draw conclusions which will help that particular business gain mileage and grow profits in future is business analytics.
Career Scope & Forthcoming Opportunities - Business Analytics in India
In recent times, there has been a sudden rise in demand of business analytics. The prime reason behind this surge is the data driven and techno focused approaches that majority of organizations have willingly embraced. But, for how long is this scenario going to stay beneficial. Will it still be advantageous for a student graduating five or ten years from now? Future of a business or career is solely depended on market demand as well as its own versatility. Let’s understand the requirements in context of BA.
- A deficit of professional business Analytics: The major reason for growth of business analytics and intelligence is the fact that since the whole concept of analytics revolves around data, it is very challenging to successfully complete the course. Hence, there is a scarcity of expert analysts.
- According to Forbes (2015): There was a 123.60% jump in demand for Information Technology Project Managers with big data expertise, and an 89.8% increase for Computer Systems Analysts. Does this ring a bell? It’s going higher by every single passing day, now is the time to grab every opportunity you have to become an analyst.
- Higher demand: Higher salaries - An increase in demand of professionals in certain area is directly proportionate to the rise in compensation in that sector. So, if you’re the one looking to divert the flow of money towards you, this is the time to be in analytics.
- The Harvard Business Review (October 2012): Quoted something very interesting - job of a data scientist is the sexiest job of 21st century. Now, who wouldn’t want to be one?
- The McKinsey Global Institute report(May 2011): “By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”
So basically, analytics is an ever-growing branch of study. Huge database is available in virtual form which has created a need for more effective and accurate data based decision makers, which surely points a finger towards exponential growth in demand of business analysts.
Business analytics courses in india and who should opt for it?
If you’re a person who is passionate about numbers and data, analytics is the career for you. It is a challenging task which requires high degree of conscious efforts and smart work in order to put things in perspective. This data finally aids the process of decision making that encourages growth of companies and organizations. An ideal candidate is expected to be a statistics degree holder and/or a mathematics degree holder. Post graduation or a master’s degree is sure to add value to it.
What to Expect
An integrated master’s level program curriculum, consisting of business data analysis and business intelligence - is quite popular since there are no effective full time programs in place for business analytics.
Colleges to look upto
Some of the colleges, which have either integrated business analytics in their regular course or are providing certificate courses, are:
- MISB Bocconi, Mumbai
- SP Jain School of Global Management, Mumbai
- Indian Institute of Technology (IIT), Kharagpur
- Narsee Monjee School of Management (NMIMS), Bangalore
- Aegis School of Data Science, Mumbai
- IIM Ahmedabad
- IIM Kozhikode
- NIT Trichy
- Great Lakes Institute of Management, Chennai
- Narsee Monjee Institute of Management, Mumbai
- Shailesh J Mehta School of Management at the Indian Institute of Technology Mumbai
Top 7 Business Analytics Program:
- Certified Program in Business Analytics (CBA) – Indian School of Business
- Executive Programme in Advanced Business Analytics from IIM Ahmedabad
- PGPBA – Great Lakes Institute of Management, Chennai and Gurgaon
- Certificate program in business analytics for executives (CPBAE)- IIM Lucknow
- Executive Programme in Business Analytics – IIM Kolkata
- Business analytics and Intelligence – IIM Bangalore
- Post Graduate Programme, Praxis Business School, Kolkata
- CPEE- Big Data Analytics & Optimization-International School of Engineering (INSOFE)