The amount of data we have at our disposal is exponentially growing, and making use of it to derive useful observations and interpretations has become increasingly necessary. This is where the field of business analytics comes into play. Business Analytics is the analysis of big data using analytics, statistics, predictive analytics, and other optimization methods and strategies to relay information to specific stakeholders. Business analysts may assist an organization in making critical choices such as cost reduction, customer loyalty, and benefit enhancement. Let's look at the different career opportunities available after completing a PGDM in Business Analytics program.
What is Business Analytics?
The sales and marketing data from the same time span reveals a lot about how goods were received in various markets and what factors contributed to their success or failure. Similarly, historical data from various industries, such as banking and finance, automobile and healthcare, education, and legal services, is a valuable source of market intelligence. They also have sufficient clues about current and underlying patterns. Business analytics entails applying applicable knowledge and technology to historical data to gain useful knowledge and intelligence for forecasting and decision-making. For its purposes, it employs a variety of data collection methodologies and solutions. Some of the most common facets of business analytics are data processing, mathematical analysis, and predictive analytics.
Where to study?
A business analytics management program is commonly available in PGDM courses. In India, numerous PGDM colleges deliver postgraduate diploma programs in business analytics. To train for a PGDM diploma at a PGDM institute, you must first pass their admissions process. However, you should be vigilant and selective in your choice of the institute. PGDM and Business Analytics are also very competitive fields. You can only enroll in what is genuinely a decent institution if you want to find a good start in your career after completing the course.
PGDM Course in Business Analytics at Vivekanand Business School
Vivekanand Business School is rewarded as one of the best management schools in India, if not the entire South Asian country. It provides PGDM programs in a variety of specializations, including Business Analytics. Rather, the PGDM in Business Analytics offered by Vivekanand Business School is among the best. The institute has a strong reputation for including all of its students in high-paying jobs. The previous batch of PGDM students was offered campus placement at an average wage of Rs 6 lakh per year, with the highest package offered at Rs 12.4 lakh per year.
What Would You Expect from a PGDM in Business Analytics?
When you want to pursue a PGDM in Business Analytics, you are committing to a career that requires you to work with large volumes of data. It will be your responsibility to sift through it and find important and appropriate material. Let's not forget that a vast amount of data is produced even when you're working. That's something you can't afford to overlook. This means that your work can include data processing, data aggregation, and other similar tasks. Data analytics, which includes business analytics, is a wider concept for arranging data for research and discovery. Data and enterprise analytics encompass a wide range of advanced features. Computer scientists and data developers are among them.
Since the field of analytics is expanding, combining a management course with the acquisition of analytical skills will help you succeed in your career. You will learn the following skills as a result of pursuing a PGDM in Business Analytics: SQL databases , Python and R, Survey/query software, Business intelligence and reporting software, Data visualization, Database design, Problem-solving skills, Effective Communication, Creative Thinking, Industry Knowledge.
After completing your course, you will be able to join one of three major domains. Descriptive analysis, prescriptive analysis, and predictive analysis are the three types of analysis. Companies assign you to a role based on your qualifications, domain expertise, and work experience. From multinational corporations to e-commerce businesses, every industry is looking to recruit an MBA with analytical skills because it is the way of the future.
Job Opportunities after PGDM in Business Analytics
- Data Analyst
The day-to-day duties of a data analyst vary depending on the sector or specialization under consideration. Data analysts are often expected to collaborate with data scientists, IT teams, and management to assess organizational priorities.
- Supply Chain Analyst
Improving an operation's output is one of a supply chain analyst's main duty. They do this by determining the criteria for a specific project and integrating them with the rest of the team. A supply chain analyst communicates the information to engineers and quality assurance practitioners because they are expected to test their new supply chain methods.
- Big Data Analyst
A Big Data Analyst's job is to research the market by identifying, collecting, analysing, and communicating data that can be used to guide potential business decisions. A Big Data Analyst deals with unstructured data, patterns, and secret trends, among other things. To become a good Big Data Analyst, you'll need problem-solving skills, the ability to think creatively in difficult situations, and innovative thinking.
- Business Analyst
Understanding evolving market needs, assessing the effect of these changes, defining and analysing requirements, and recording and promoting cooperation among all stakeholders are all things that business analysts do.
This concludes the section on career opportunities after a PGDM in Business Analytics. The sector is growing in popularity, and more employers are searching for PGDM graduates with analytical skills. The specialization has a bright future.
PGDM A (2020-2022)