In this article, we will have an in-depth analysis of MBA in Business Analytics course. This article covers topics such as – course details, duration, eligibility criteria, colleges, admission process, syllabus and career prospects.
What is business analytics? What’s the scope associated with this MBA specialization? You will find answers to these questions in the coming paragraphs.
|Name of course:||MBA in Business Analytics|
|Eligibility Criteria:||Graduate Degree|
What is Business Analytics?
Business Analytics deals with the study, analysis and interpretation of big data of organizations and businesses. It is an important part of management science.
In organizations and businesses, decision making process is largely dependent on Business Analytics! Business Analytics, if carried out the right way, can help companies put the right foot forward!
Business Analytics is based on data and statistical methods. It focuses on using a set of metrics to investigate an organization’s/a business’ past performance in order to gain valuable insight and carry out business planning (for the future).
In simple terms, it is all about exploring and inspecting the data (from past) and using it to formulate plans for the future! It may sound simple, but analytics is a complex and diverse field. It is made up of the following domains –
- Decision analytics
- Descriptive analytics
- Predictive analytics
- Prescriptive analytics
Here’s a simple chart that shows how business analytics actually works in modern day businesses and organizations –
As mentioned in the above chart, it all starts with data. Yes, to put business analytics to work, you need to have access to big data! This is when things like data mining, data warehousing and data storage comes handy.
Okay, what’s the next step? Yes, analyzing the data and turning it into useful knowledge/insights. For this (analytics) we have various techniques, software, technologies and processes.
Finally, the insights obtained from data is put to use. This knowledge helps companies make decisions.
What’s the scope of business analytics in India, you may ask. This field has got immense scope in India. MNCs and businesses are investing heavily on business analytics and intelligence.
MNCs and businesses have three goals – minimize expenses, satisfy customers and drive in more profits. A good business analytics team can help them achieve all of the goals mentioned above!
Companies operating in the following areas usually have a business analytics team –
Let us check out some of the basic details about MBA in Business Analytics –
MBA in Business Analytics: Details
MBA is a general management program. It focuses on general management subjects. MBA in Business Analytics is a specialization program. It focuses on the domain of business analytics.
Type of course
It is a postgraduate level management education program.
The academic program is 2 years long.
Must possess a Bachelor’s Degree (3 or 4 year long course) from a recognized Institute/University.
Reputed institutes rely on merit based admission process. Marks scored by students in relevant management entrance tests (CAT, Institute-wise entrance tests etc) are taken into consideration. Deserving candidates are allotted seats after an interview.
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Here are some of the important subjects present in MBA in Business Analytics academic program –
- Organizational behavior
- Principles of Management
- Business Communication
- Marketing Management
- HR management
- Finance management
- Business Modelling
- Data Environment
- Operations management
- Data management
- Business analytics
- Business intelligence
- Data visualization
- Programming for analytics
- Predictive analytics
- Big data analytics
- Business laws
- Data mining
Career prospects and job opportunities
Business analytics professionals have ample job opportunities available in front of them. Some of the well known recruiters are –
- IT firms
- Telecom companies
- E-Commerce firms
- Business Analytics and Intelligence firms
In the above mentioned firms, business analytics professionals may don the following roles –
- Business analyst
- Business strategist
- Data analyst
- Project manager
- Data mining specialist
- Data warehousing specialist