Earning a Masters Degree in Business Analytics opens up diverse career possibilities. As Business Analytics continues to play a crucial role in the day-to-day operations of organizations, the job market in this field is expanding. The demand for MBA graduates equipped with analytical skills is on the rise, making analytics a relatively recent and sought-after specialization in the field of management.
Career Paths after an MBA in Business Analytics
The escalating volume of available data underscores the growing significance of extracting meaningful insights. Business Analytics emerges as a crucial field, involving the study of big data through analytics, statistics, predictive analytics, and optimization tools to convey insights to stakeholders. Business Analysts play a pivotal role in aiding companies with critical decisions, encompassing aspects like cost optimization, enhancing customer satisfaction, and boosting profits. Explore the diverse career avenues that open up after completing an MBA.
Prospects of MBA in Business Analytics
The demand for analytics is on the rise, making it beneficial to pursue a management course while acquiring analytical skills to propel your career forward. In ZEFT Business School, you will develop proficiency in the following areas:
- 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 the Business Analytics MBA Courses in Chennai, you can specialize in three main domains: descriptive analysis, prescriptive analysis, and predictive analysis. Companies assign roles based on your skill set, domain knowledge, and work experience. From multinational corporations to e-commerce companies, every industry is actively seeking MBA graduates with analytical skills, considering it a crucial aspect for the future.
Prominent Hiring Companies
Professionals equipped with a master degree in Business Analytics are highly sought after, whether by large corporations or emerging startups. Leading recruiters in the consulting and multinational sectors include esteemed organizations such as KPMG, Accenture, Deloitte, McKinsey & Company, and Boston Consulting Group (BCG).
Financial entities like American Express and Morgan Stanley are actively seeking professionals with an MBA specialised in Business Analytics. Additionally, technology giants and conglomerates such as Wipro, Google, Facebook, Amazon, Microsoft, HCL, Infosys, Larsen & Toubro, Reliance, Tata Group, and many others are also among the notable recruiters in this domain. Taking an Business Analytics Course as a master degree Course will help you unlock the opportunities in these companies.
Career Prospects Following MBA in Business Analytics
Upon completing the course, a diverse array of career opportunities in business analytics becomes available. You can prefer a role based on your specific interests. Here are some of the potential business analytics career opportunities:
1. Data Analyst
A data analyst is an individual responsible for collecting and assessing data related to sales figures, market research, logistics, and other relevant details. Leveraging their technical expertise, they ensure data accuracy and focus on processing and presenting it effectively. This process enables organizations to make informed business decisions.
The day-to-day responsibilities of a data analyst can vary across different organizations, depending on the industry or specialization. Data analysts often engage in communication with data scientists, IT teams, and management to ascertain organizational goals. Some essential skills required to excel in data analyst roles include proficiency in programming languages such as R/SAS, creative and analytical thinking, data visualization, effective communication, expertise in database querying languages, SQL databases, data mining, cleaning and munging, machine learning, and advanced proficiency in Microsoft Excel. If you want to excel in data analyst career with managerial positions, it is a wise choice to join an MBA Business Analytics in Chennai.
Scope: The U.S. Bureau of Labor Statistics projects that the demand for data analysts will rise by 23% between 2022 and 2032, and employers are willing to offer highly competitive compensation. It makes sense that more and more people are looking to switch careers because a career in data offers excellent career prospects.
Salary: According to Glassdoor job listings, the average base salary a data analyst can earn in India is ₹6,00,000. However, according to Indeed, the average yearly salary for a data analyst is ₹5,57,907, while Payscale reports that the average salary is ₹4,91,296.
2. Supply Chain Analyst
The primary duty of a supply chain analyst involves enhancing operational efficiency. This entails determining project requirements, collaborating with fellow team members, and communicating project details to engineers and quality assurance professionals for testing new supply chain methods. The supply chain analyst also provides recommendations for performance improvement and cost reduction, while overseeing inventory management.
Scope: This industry is currently global in nature and moves quickly. Applicants may work on any task, including delivery and product development. There will be openings for MBAs in supply chain and logistics management after an MBA Business Analytics, including supply chain manager, logistic coordinator, business manager, and commercial manager.
Salary: The salary range for a supply chain analyst in Chennai is ₹ 2.3 Lakhs to ₹ 11.0 Lakhs, with an average of ₹ 5.6 Lakhs per year. Salary estimates are based on 519 latest salaries received from Supply Chain Analysts. On average, a person can expect this as Business Analytics MBA Salary.
3. Big Data Analyst
The primary responsibility of a Big Data Analyst is to examine the market by identifying, collecting, analyzing, and communicating data to inform future business decisions. In Business Analytics, you can deal with unfamiliar data, patterns, and hidden trends. Crucial skills for success in this role include problem-solving, critical thinking in challenging situations, and creative reasoning. While Considering technical skills, proficiency in programming, quantitative and data interpretation, as well as data mining and auditing, is crucial for Big Data Analysts. Additionally, they often utilize various tools, including but not limited to:
- MapReduce
- Hadoop
- Hive
- Apache Spark
Scope: MBA in Data Analytics Scope has been increasing no wadays as it involves the process of extracting insights and patterns from data to drive decision-making and gain a competitive advantage. Data Analytics is a important discipline that transforms raw data into practicable perceptivity, driving informed decision- making and fostering invention across diligence.
Salary: The study reveals that the highest average salary package goes to big data freshers with experience in data analysis, who earn Rs. 5.55 LPA. Manager-level positions pay an average of Rs. 17.42 LPA, while leadership positions pay an average of Rs. 24.29 LPA.
4. Business Analyst
Business Analysts focus on comprehending evolving business needs, assessing the impact of these changes, identifying and analyzing requirements, and documenting and facilitating communication among stakeholders. In the last five years, approximately 90% of organizations have implemented analytics in their operations, leading to increased opportunities across various domains. In the IT and enterprise sector, Business Analytics has become a fundamental practice, especially in areas such as analytics in insurance.
To excel as a Business Analyst, one needs proficiency in several key skills through Top MBA B Schools in Chennai. Following are the key skills:
- Statistical analysis software
- Business intelligence
- Python and R
- Survey/query software
- Database design
- Data mining
- SQL databases and database querying languages
- Data visualization
Scope: As this field continues to grow and expand, there are plenty of opportunities in domain for aspiring professionals. There is a current demand for business analysts across all industries in the world. Enhancing business processes requires a professional with expertise in business analytics. Business analysts will continue to be in charge of interpreting requirements, creating processes, and then improving them in the future. It will become more and more necessary to have both interpretive and descriptive abilities as well as coordination between internal and external stakeholders.
Salary: In India, ₹5,00,000 is the average starting salary for a business analyst.
5. Predictive Modeller
The position of a predictive modeler, a role within predictive analytics, might not be familiar to everyone. Predictive models are software programs designed to make predictions based on input data, and a predictive modeler is responsible for developing these models. This role requires a comprehensive understanding of statistics, analysis, and technology.
One popular statistical method for forecasting behavior is predictive modeling. As a type of data-mining technology, predictive modeling solutions analyze both historical and present data to create a model that can be used to predict future events. MBA Colleges in Chennai offers MBA Course in Business Analytics. Individuals can start their career as Predictive Modellers as it is one of the emerging roles in Business Analytics.
Scope: Credit risk models, ticket pricing, resource management, inventory forecasting, equipment maintenance, and much more are all done with predictive models. They support businesses in lowering risks, streamlining processes, and boosting earnings.
Salary: An experienced model with 10–20 years of experience typically earns ₹8.8 lakhs annually, while a mid-career model with 4–9 years of experience makes an average of ₹6.7 lakhs.
6. Technical Team Lead
An individual responsible for guiding a technical team within an organization is commonly referred to as a technical team lead. Their primary responsibilities include overseeing the proper handling of technical development, ensuring the production of high-quality products, and timely delivery. Apart from having technical expertise, individuals must also possess exceptional leadership and managerial skills.To attain these positions, you can earn an MBA degree.
Scope: The job description for a lead analyst will change based on the company and the sector.Lead analysts typically carry out market research and analysis, which includes competitor and customer analysis. They assess the business’s resources, strengths and weaknesses, and project future outcomes.
Salary: In India, for a Tech Lead in Business Analytics Salary is ₹19,14,602 annually.In India, a Tech Lead typically receives an additional ₹1,00,000 in cash compensation, ranging from ₹60,000 to ₹2,50,000.
We have now reached the conclusion of our blog post regarding career options following a Business Analytics MBA. The field is growing, and more businesses are seeking to hire recent MBA graduates with strong analytical abilities. The specialty has a bright future ahead of it. Professionals with expertise in business analytics are in greater demand than ever. Unlock your dream with a business analytics job by upgrading your skills at MBA with Business Analytics and MBA Digital Marketing Colleges in Chennai. You can choose from various specialisations and learn from the best with the help of dedicated mentor support and career assistance.