An MBA in data analytics is the best course to hone your technical and management skills. This 2-year program involves an in-depth understanding of various business operations with a specific focus on business analytics.
You get to learn about decision models, data mining, data visualization, and a lot more as part of your curriculum. In this blog, we discuss everything about an MBA in business analytics
You can live your dream of pursuing an MBA abroad in this field by choosing Endeavor Careers as your partner in this journey. We offer personalized training sessions that cater to your MBA abroad aspirants.
Remember, data is the new oil and a valuable asset of the 21st century. You can pursue a course in data analytics to explore this lucrative venture and become a part of the booming digital economy.
What is an MBA in Data Analytics?
A master’s degree in data analytics focuses heavily on a statistical analysis of data to foster data-driven and result-oriented decision-making. Today, data is an absolute goldmine for companies. However, interpretation and segregation of such enormous volumes of data is no walk in the park.
That’s where a data analyst chips in and extracts useful information from huge chunks of unstructured data. An MBA in data analytics is gaining unprecedented traction and the
You’re responsible for the following in any organization once you finish your MBA degree in data analytics:
- A business analyst works closely with other IT departments in a company and defines the scope of the project post data analysis. Unlike a data scientist, your role after an MBA in business analytics is to devise business strategies keeping monetary benefits on the forefront.
- You need to work collaboratively with end-users, developers, clients, etc., to learn about the various trends in the marketplace. Your data analysis and user interaction lay the foundation for strategies around technological enhancements, modifications in the defined investment plan, and much more.
- The best part of being a business analyst is the opportunity to explore diverse business sectors. Apart from having your say in key business decisions, you also get to analyze the impact of the product/service you introduced in the market.
Evaluation of customer satisfaction, increase/decrease in consumption patterns, and a lot more rest on your shoulders.
Scope of MBA in Business Analytics
The methodologies revolving around the usage of data by companies have drastically changed. From a time when excel sheets were examined to have a brief overview of the audience demographics, data analysis has come a far way.
Today, companies need experts to personalize their offerings to influence the purchasing patterns of the customers. An MBA in business analytics from a reputed institute makes you perfect for this role.
The chart below by Statista depicts the volume of data generated each year (in zettabytes) with projections going very steep till 2025:
Image Source: Statista
Therefore, it’s clear that job opportunities in business analytics are endless. Why? Because organizations need expert individuals who help them make sense of the mammoth volume of data.
You help companies interpret the high-quality data (segregated by data scientists) from a business perspective. Therefore, the demand for professionals with an MBA in data analytics, especially from top MBA colleges, continues to be on the rise.
Other reasons for the surge in demand of business analysts include:
- The need to obtain data-driven solutions to several business questions
- Ability to identify and resolve loopholes in a business strategy from the start
- Axing guesswork and replacing it with information-based strategies
- Fostering a culture of adopting a result-oriented approach to tackle various business scenarios.
Apart from being a job with diverse learning opportunities, an MBA degree in business analytics pays you handsomely as well. Candidates hailing from the top B-schools in India can get lucrative annual packages ranging between 8,00,000 – 18,00,000 lakhs on average.
Students pursuing an MBA abroad with specialization in data analytics can expect handsome packages of around $100,000.
Professionals in managerial roles can expect packages of around 20,00,000 lakhs. Keep learning and evolving to ensure you stay afresh with the latest trends in this domain.
Here’s an overview of the average salaries you can expect after completing an MBA in business analytics:
Image Source: CollegeDunia
An MBA graduate acquires various “soft” and “hard” skills that facilitate an easier understanding of business fundamentals. It makes a rocking combination when the same is combined with business analytical skills.
The core skills that are a part of a business analytics program include spreadsheet modeling, marketing analytics, applied regression, introduction to data mining, and much more.
Your decision to undertake an MBA abroad in data analytics is the right one as you get to learn about business analytics, data-driven accounting analytics, and financial analytics.
You can land popular c-suite jobs, join MNCs, and become a part of budding startups after completing an MBA in data analytics. It’s imperative to hone your technical skills while also improving your soft skills because apart from being a business analyst, you’re also an MBA.
Here’s a pie-chart that indicates the absorption of business analysts according to company sizes. Large-sized companies capture the largest shares on expected lines. SMBs and startups aren’t far behind, and thanks to this even distribution, MBAs in business analysts are always in demand.
Image Source: AnalyticsIndiaMag
The job roles include business analyst, business intelligence expert, qualitative analyst, data warehousing expert, and many more.
So, is it Worth it?
An MBA in data analytics is a gateway to your success path in the booming business analytics industry. Therefore, it’s a no-brainer that an MBA in this field is definitely worth it. Much like business analysts, we have arrived at this conclusion on the basis of data, statistics, and predictions on consumer behavior.
Endeavor Careers bridges the gap between talent and opportunity by taking care of all your MBA worries. You can become a part of your MBA abroad program and visit the various MBA courses to enjoy a lucrative career in business analytics.