MBA in Business Analytics – Changing Dynamics
Post Date : 23-12-2019
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The use of analytics is not new in the industry. Data analytics is an umbrella term and simply put, it is nothing but a more advanced and digital way of data management. Data is everywhere and there is a huge demand for professionals who can read this data, understand it and use it for the benefit of the organization. MBA is considered as one of the most promising degrees these days and the scope of MBA in Business Analytics is quite good these days.
As per a recent research, 2.5 quintillion bytes of data is generated every day. India is already facing a shortage of analytics professionals and if you have the calibre to absorb the right skills, you can mark a great career growth for yourself with some exceptionally handsome salary packages.
So, what is MBA in Business Analytics? Let us understand.
MBA in Business Analytics
When we try to separate the two terms ‘business’ and ‘analytics’, it is easier to understand them. We believe that everyone knows what is meant by a business so let us see what you need to know about analytics:
- The techniques that you can implement with the help of mathematics and statistics to read the vast amounts of customer data generated every second.
- The linear programming skills for efficient operational research.
- The data programming techniques.
- Ability to make profitable decisions on the basis of data.
Analytics is not only about data entry but it is an integrated approach that helps the professionals to understand the crucial data and utilize it for the growth of the business.
Why Understanding Analytics is Important
It will not be wrong to say that analytics is the future of all the businesses today. Pursuing an MBA in this background will not only add value to your profile, it will further help you to bloom your career.
It is true that the work under business analytics revolves around one term ‘big data’ but this is just one part of the bigger picture. Pursuing an online executive MBA in India or an MBA in Business Analytics from SGVU Distance Education is going to help you with the given learning outcomes:
- Descriptive Analysis
You will get the responsibility to understand the data and apply the conclusions to solve the past and the future problems.
- Predictive Analysis
Here you are more responsible to understand your business performance of the past and ensure that the problems does not repeat in the future.
- Prescriptive Analysis
The name would sound a little peculiar to you but this role would involve a lot of training sessions. You would play a major role in the productivity procedures and you will have to ensure that the annual growth of the company is increasing.
An online executive MBA in business analytics has always been misunderstood but fortunately, things are changing for good. As per a report published by McKinsey, the world needs 1.5 million MBA holders with business analytics skills. Candidates are now realizing the power of big data and they are keen towards learning the same.