Data - The Future Of Businesses Globally!

Businesses around the world are reinventing themselves to stay afloat. Business practices of yesteryears are not relevant today. Globalization has changed the whole business scenario. Businesses need to adopt new strategies to become competitive. Using technology is one way. World over business thrive by using data. This data science is changing everything in business and it is going to stay. 

What Is Business Analytics?

Getting a master’s business qualification is becoming a necessity. Companies recruit professionals with master’s qualification as they have specialized knowledge on the subject. Niche courses are added to specialization and such courses are in demand. Pgdm in business analytics is one such course and it is in great demand. In simple terms it could be described as a course which deals with data. Businesses thrive on data and it is a study of collecting, storing and analysing data with the help of technology. 

Eligibility!

Graduates of any stream could choose this course. They have to secure a minimum 50% in the qualifying examination and most b schools absorb students based on their rankings in the entrance exams. There are a number of entrance exams and they are CAT, CMAT, GMAT, state CET tests, etc. The rankings obtained in any one of these tests is used by most b schools for admission. 

There are a number of specializations offered for master’s programme. It is a two years comprehensive course with industrial visits and internships. Business analytics through pgdm, being a niche course is offered at many popular b schools. It is a two years course and it deals with the curriculum which is industry relevant. Most businesses will survive in future only if they use data so the course is gaining prominence. 

Syllabus!

Statistical analysis, data modelling, organizational behaviour, marketing management, quantitative methods, research methods, computational methods, financial analytics, data mining, marketing analysis, simulation modelling, strategic management, etc. Strong analytical skills, decision making skills, problem solving skills are also integrated into the course. The students also learn from experts from the industry and labs provide hands on training during the course.

The course is more practical oriented. Case studies and group discussions are also an integral part of the course. Students are taught to use tools and technologies such as R, Tableau, advanced excel, etc. Talks by industry leaders are part of the programme to inspire the students. Students are taught to work with dummy data sets and real data sets. 

Business Scenario!

Businesses the world over have started using data for future business growth. Data has become inevitable and business analytics is used in banking and financial institutions, e commerce and retailing, information technology, etc. Most domains have started using big data to improve their businesses. Data determines the growth of the business. Now they are used in manufacturing industries and in health care sector too. 

Careers!

These professionals can work as data scientists, market research analysts, health care analysts, IT analysts, business analysts, consultants, data analysts, data mining experts, data analysts SAS programmers, business analyst project managers, etc. 

These professionals earn an initial salary of 6 to 10 lakhs per annum and with experience it will definitely see a surge.