Hi All, welcome to Brain Checker’s blog, in today’s article we will be talking about MBA in Business Analytics | Eligibility | Syllabus | Career. I am Keya Raje, a Counseling Psychologist and Co-Founder, Brain Checker, I have been working as a Career Counselor and Mental Health Professional for last 10+Years. In this article, we will be talking aboutMBA in Business Analytics | Eligibility | Syllabus | Career. So let’s begin.
MBA in Business Analytics is the process of collecting, combining, sorting, processing, and using statistical models and methodologies to transform data into business insights. It helps in determining which dataset is useful and how it can be leveraged to solve problems and increase productivity, efficiency, and revenue. Master of Business Administration or MBA as the name suggests is an academic course that deals with the universe of administering a business. This program offers specialized knowledge in several streams. An MBA in business analytics is meant for those who aspire to build a career by guiding establishments in the best business practices. This course will empower you with a stronger understanding of data analytics tools.
What is MBA in Business Analytics?
An MBA in Business Analytics is a program that explores the data analytics component of running a business. This course teaches how to leverage statistics and tools dealing with data analytics. The syllabus includes material on business fundamentals, management practices, and technical skills.
Surveys have shown that hiring managers look for candidates with business analytical skills and an MBA in the same definitely gives an edge. At the same time, a dearth of qualified business analysts also adds value to this degree.
In this blog, we will explore the various facets of this degree in terms of the scope of the course, fees, admission procedure, and eligibility. You will also get to know about the career prospects, salary estimates, and job opportunities. This blog will also inform you about the interesting facets of an MBA degree.
MBA in Business Analytics: Eligibility Criteria
A candidate keen on applying for an MBA in Business Analytics needs to have an aptitude for technology, a flair for strategy, and an analytic bent of mind. One who is interested in decision-making and taking the lead is also a good fit for this course.
Let us look at the other eligibility criteria:
- Bachelor’s degree from a recognized university with a 50% aggregate score.
- Students who have appeared for the final exam but are waiting for results can also apply.
MBA in Business Analytics: Admission Process
The admission process for most MBA programs like other courses is based on entrance exams. The exams sought by the colleges may differ but the level of the examination remains more or less the same.
Let us look at the crucial steps in this process.
- Apply for entrance exams as per the college’s requirements.
- Take the entrance test
- Upon clearing the written exam, be prepared for Group Discussion and Personal Interview rounds.
- Once you have cleared all the rounds enroll in the college of your choice.
Top 5 reasons to choose MBA in Business Analytics
Companies need to chart their future growth plans carefully so as to remain on the path of progress. In order to make companies need skilled professionals to forecast sales and other measurable parameters. This information goes a long way in understanding and influencing consumer behavior. For these purposes, an establishment needs business analysts and an MBA makes one a frontrunner for such roles. Therefore, this degree carries great value for all professionals who wish to grow in the field of business analytics.
Let us look at some of the key advantages of enrolling in this course.
In-depth knowledge and superior skills: This degree will help you gain knowledge in a wide range of topics like marketing, finance, macroeconomics, leadership, and management. This proves crucial during crisis situations while on the job and helps you to stand out.
Internship and real-world experience: This course provides the opportunity to secure an internship with reputed firms. Students, both freshers, and professionals looking to switch careers can thus gain valuable experiences. This program is also available for those who want to do the course along with their existing job. They can opt for part-time courses and even do it online.
Lucrative job market: According to reports, there is a dearth of skilled business analytics in the market. This has naturally increased the demand for MBA pass-outs. B-schools and institutions have thus been able to successfully place students.
Senior Positions: Candidates with an MBA in Business Analytics have a good chance to be directly placed in senior positions like a management consultant, operations analyst, and supply chain analyst.
High salaries: Business Analysts with an MBA can expect to receive salaries in the range of Rs 8-16 lakh per annum. These positions are also touted to be great in terms of job flexibility and work-life balance.
MBA in Business Analytics: Syllabus & Subjects
The MBA in HR program is generally spread over 2 years. The course covers a range of topics, including statistical analysis and business intelligence. The topics covered over the four semesters include:
- Data modeling
- Computational methods
- Operations management
- Research methods
- Risk management
- Data mining
- Ethical and legal aspects of analytics.
MBA in Business Analytics: Career & Job Opportunities
An MBA in business analytics opens up a range of lucrative positions across industries. You are also eligible to apply for various senior and leadership positions. According to industry reports, globally there are 1.5 million vacancies for senior business analysts. This degree equips you with problem-solving and analytical expertise.
Below are some of the job openings for students of MBA Business Analytics:
- Marketing Manager
- Business Analytics Specialist
- Management Consultant
- Big Data Analyst
- Senior Data Scientist
- Predictive Modeller
- Scope of MBA in Business Analytics
Companies rely on Business Analytics to interpret data for arriving at decisions as per the market scenarios. It helps them to monitor performance indicators and decipher the results. All these functions require people who are trained to understand these conditions and have the specializations to provide the company with in-depth analysis.
Let’s look at some of the interesting aspects of this job profile.
This is a relatively new position in the management domain. Growing internet penetration and the advent of social media have increased the relevance of this position.
The three main analytical domains for this position are – Descriptive Analysis, Predictive Analysis, and Prescriptive Analysis.
The sectors that prefer candidates with an analytical background include retail, IT, e-commerce, banking, and telecom.
Scope of MBA Business Analytics in Government Sector
Business analysts are in demand in the government sector too. Different departments in the government use their predictions to make informed decisions. Public sector companies hire data analysts and scientists, data mining experts, and qualitative analysts.
MBA in Business Analytics: Top 10 Recruiters
This degree has proven to be a successful formula in climbing the corporate ladder. Several top companies take part in B-school placement rounds. Students passing out of Indian business schools find good placements in global companies too.
Some of the top recruiters in this sector are:
- JP Morgan
- Aditya Birla
Listed below are career options available after MBA in business analytics:
- Management Analyst/Consultant
- Data Analyst/Scientist
- Business Intelligence Analyst
- Program and Marketing Manager
- Big Data Analytics
- Operations Research Analyst
- Market research Analyst
- And many more
After having an idea about what is business analytics and the career options available, you might be wondering about the skills that are required to become a business analyst.
According to the GMAC Corporate Recruiters Survey 2019, more than half of the recruiter’s rate data analysis and interpretation skills are essential after problem-solving and working with others’ job skills. Analytical reasoning, Business Analysis, and Data Science are a few of the skills that are required by companies in 2019, according to the LinkedIn report.
The list below highlights skills that are required to pursue a career in business analytics:
- Communication skills
- Technical Skills
- Managerial Skills
- Decision-making Skills
- Analytical Skills
- Critical thinking Skills
- Negotiation Skills
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