In this era of digitization, Business Analytics is proving to be more and more useful in the implementation and execution of various strategic functions. BA makes it easier to analyze and process large amount of data and displays relevant and the most accurate information. It can be used to reduce ambiguity in decision making, with the help of existing data and can be used to formulate varied solutions.
Analytics always gives businesses an upper hand in processing the latest data with reference to past records and avoids any repetition of mistakes from earlier, which gradually optimizes their efficiency, producing better results to serve their customers. It assists to serve the users with a personalized experience, giving a competitive edge to the business in its offerings as opposed to their contemporaries. It also helps organizations to have an automated response for initial decision-making process.
Analytics is not limited to just one field, and can be functionally used in different domains such as Marketing, Finance, HR, etc. Organizations, through HR Analytics can measure productivity of employees over a period of time and identify factors what drives them to keep improving their efficiency. With easy access of employee records and workforce data, the management of organizations can improve employee engagement, Retention rate, identify training needs and enhance quality recruitment. By using Analytics in finance, companies can have a 360-degree view of its position in the market and an in-depth analysis of its growth. Identify its current financial status, measure assets and forecast the value of the business and its future profitability. Analytics in marketing also has its own perks and benefits. It can be used to study consumer buying behavior, analyze their choices and provide them suggestions that are exclusively personalized on the basis of their consumption patterns.
The field of Analytics has a vast and varied spread of Arena and does not restrict to just estimating the basics. The competition in the current market is so fierce that analytics is the ingredient in standing out. The constant changing of trends in the present, and to predict the future inclinations on the basis of these trends, we need to formulate the past particulars.
Although in its developing stage, Business Analytics is one of the fields gaining constant importance in the market. As a result of this, many aspiring students pursuing post-graduation, are opting for Business Analytics as their specialization. In the arena of Management, this field is one of the highest paying career profiles. Due to its increasing popularity and demand, many colleges are keen on incorporating BA in their courses along with other courses like Marketing, HR, Finance & Operation. Looking at its current functionality in the industry, along with considering the practicality of Business Analytics in the future, this field definitely offers a scope of good career growth.
Some of the best PGDM/MBA colleges in Mumbai that offer Business Analytics course are given below:
- ISME School of Management and Entrepreneurship
- WeSchool Mumbai – Welingkar Institute of Management
- VES Business School (VBS)
- NMIMS School of Business Management, Mumbai
- Vidyalankar School of Business
- IES’s Management College and Research Centre
- Universal Business School
- Athena School of Management
- Center of Excellence in Analytics and Data Science
- University of Mumbai’s, GICED – BSS Foundation
- Jagdish Sheth School of Management (Formerly IFIM Business School), Vijaybhoomi University
Being a part of Vivekanand Business School, I can say that the institute provides various opportunities for the students to get acquainted with the corporate world through internships and live projects. BA subjects are introduced in the curriculum of students opting for other specializations as well, so they have a basic idea about the concepts of this field and have an edge over others in the industry. Informative webinars on Analytics in various verticals are organized, where industry experts are invited to have interactive sessions with the students and discuss the current and future trends of the business world.
Rithika Rao
PGDM A
Vivekanand Business School