Why MBA in Data Analytics is the Future: A Comprehensive Guide
What is an MBA in Data Analytics?
The MBA in Data Analytics combines the field of Data Analytics and Business skills. This degree offers specialized courses like entrepreneurship, financing, international business, and organization development, data analysis, Data mining, visualization, etc. Students will be able to learn about business intelligence, data analytics, and Information Technology. The degree will equip the students with cutting-edge knowledge, and specialized skills like business process analysis, and predictive modeling, data management, business processes. The graduates can have high-profile careers as business analysts, systems analysts, data architects, and business intelligence developers.
Key Skills required
The Key Skills developed by pursuing an MBA in Data Analytics are as follows:
- Data Visualization: The Graduates have to be trained in tools such as Tableau and Power BI to create charts, graphs, and Dashboards to communicate data insights effectively.
- Programming: Data analysts or data scientists often perform well with immense knowledge of programming languages such as Java, SQL, Scala, R, Python, Swift, etc.
- Communication Skills & Data Storytelling: Data StoryTelling is crucial for Communicating the results to non-technical audiences and making data-driven decisions. Without a good Communications approach, data analytics may not have any consumers or sponsors within the organization.
- Project management: The data Analysts have to work in diverse fields, managing and distributing work. Time and resource management skills are essential for administering the team.
- Understanding Cross-Functional Perspectives: Business analytics is used in various business platforms understanding how analytics can optimize processes company-wide and cultivating empathy and alignment with diverse stakeholders.
The Role of Data Analytics in Business:
Data analytics is not limited to the finance profession. Businesses across all industries can leverage data analytics to gain insights into their operations and make informed decisions. Data analytics can be used for the following purposes:
- Improve Sales And Marketing: Data analytics can be used to analyze customer behavior, preferences, and demographics, enabling businesses to develop targeted marketing campaigns and improve sales.
- Enhance Operations: Data Analytics can be used to identify inefficiencies in business operations and streamline processes, leading to cost savings and increased productivity.
- Predict Trends: Data analytics can be used to analyze market trends and predict future trends, enabling businesses to make strategic decisions.
- Improve Customer Experience: Data Analytics can be used to better understand customers and tailor products and services to meet their needs, leading to increased customer satisfaction.
Career Opportunities in Data Analytics:
An MBA in Data Analytics offers a wide range of career options where data is combined with strategic decision-making. There are plenty of job opportunities available in fields like finance, marketing, and supply chain management. Some of the job roles along with their key responsibilities and salary are given below.
| Job Roles |
Responsibilities |
|
Data Scientist
|
- Collecting, analyzing, and interpreting large sets of complex data.
- Using Statistical and ML techniques to identify patterns and trends in data.
|
| Business Intelligence Analyst |
- Collecting and analyzing data to help organizations make better business decisions.
- Using Data visualization software to present data in a way that is easy for non-technical stakeholders to understand.
|
|
Data Engineer
|
- Designing & building the infrastructure and systems that collect data collection, storage, and analysis.
- Managing and maintaining large data sets and databases
|
| Business Analyst |
- Identifying & analyzing business problems and opportunities
- Developing solutions to improve business processes and performance.
|
| Marketing Analytics Manager |
- Collecting and analyzing data to inform marketing strategies.
- Using data to improve the effectiveness of marketing campaigns.
|
| Financial Analyst |
- Collecting and analyzing financial data to inform business decisions.
- Identifying trends & patterns in financial data.
|
|
Quantitative Analyst
|
- Using mathematical and statistical techniques to model financial and economic systems.
- Identifying patterns and trends in data.
|
| Risk Analyst |
- Identifying and assessing potential risks to an organization.
- Developing and implementing risk management strategies.
|
| Data Governance Analyst |
- Developing and implementing data policies and procedures.
- Ensuring data is accurate, accessible, and secure.
|
|
Data Visualization Engineer
|
- Designing & Developing interactive data visualizations.
- Using data visualization tools and software to present data in a way that is easy for non-technical stakeholders to understand.
|
Future Of Data Analytics
The Scope of data analytics in India is immense and will only grow exponentially. The application of data analytics spans industries in India such as banking, law enforcement, fraud protection, healthcare, telecom, e-commerce, energies, and portfolio management. The implementation of data analytics is prevalent across all corporate sectors.
- Increased demand for data Professionals to interpret complex data sets, provide insights, and drive decision-making processes across various industries.
- Integration with Artificial Intelligence and Machine Language enhances data analytics by automating complex analysis, improving predictive capabilities, and providing deeper insights into large data sets.
- Expansion in various sectors such as healthcare, finance, retail, and education data analytics will improve customer experiences, optimize operations, etc.
- Enhanced Predictive Analysis enables more accurate anticipating of trends, behaviors, and outcomes.
- Growth in real-time Analytics will be more prevalent, allowing businesses to make faster and wiser decisions based on current data.
- Personalized Customer experiences enable businesses to tailor their products, services, and interactions to meet individual needs and preferences, enhancing customer satisfaction and loyalty.
How to Choose the Best MBA Program in Data Analytics Program:
The eligible graduates must consider the following parameters while choosing the best MBA Program in Data Analytics.
- Consider Your Learning Style: Do you prefer structured classroom learning, self-paced online courses, or a combination of both? Some programs provide more flexibility than others, so select one that fits your learning style.
- Evaluate the Curriculum: Examine the syllabus to ensure it includes the necessary topics, such as statistics, programming (Python, R), SQL, data visualization, and machine learning. Look for programs that offer hands-on projects and real-world applications.
- Research the Faculty: The quality of instruction has a significant impact on your learning experience. Research the instructors’ backgrounds and experiences to ensure they are experts in the field and passionate about teaching.
- Look for Career Support: If you want to work as a data analyst, choose a program that provides career support services like resume reviews, mock interviews, and job placement assistance.
- Consider Cost and Time Commitment: Educational programs vary in cost and duration. Choose a program that fits your budget and schedule, and make sure it provides a good return on investment in terms of job opportunities and salary potential.
- Industry Partnership: most of the institutes adopt an academia-industry interface, making sure the institute has partnerships with business companies which enhances career opportunities.
Top B-Schools Offering MBA in Data Analytics
The top Business Schools which offer Data Analytics as their specialization are as follows:
| Colleges |
Fees (INR) |
Average Salary (INR), approx |
| Hindustan Institute of Technology and Sciences |
2,53,000 |
6 LPA |
| Symbiosis Centre for Information and Technology |
6,20,000 |
8 LPA |
| Sheshadripuram Institue of Management Studies |
3,00,000 |
4.8 LPA |
| Gurugram University |
40,000 |
4.2 LPA |
| Techno India University |
1,43,000 |
4 LPA |
| Centurion University of Technology |
85.900 |
5 LPA |
| Graphic Era Hill University |
1,98,500 |
6 LPA |
| ILM University |
3,00,000 |
6,2 LPA |
| Amity University |
4,90,000 |
7.5 LPA |
Top recruiters hiring MBA graduates for Data Analytics
Graduates of an MBA in Data Analytics are highly sought after by leading companies across industries. The organizations offer diverse roles in Data Analytics, business intelligence, and data-driven decision-making. The top recruiters hiring data analytics graduates are as follows:
| Job roles |
Average Salary (INR) |
Top Recruiters |
|
Knowledge Analyst
|
7 LPA- 16 LPA
|
- Microsoft
- Adidas
- Pepsico
- Capco
|
| Power Bi Developer |
6 LPA-18 LPA
|
- Maruti Suzuki
- Crisil
- Nomura
- Qualcomm
|
| SAS Programmer |
5 LPA- 12 LPA
|
- Capco
- Myntra
- Global Logic
- BirlaSoft
|
| Supply Chain Analyst |
4 LPA- 14 LPA
|
- Blue Yonder
- Maruti Suzuki
- Delhivery
- Navis
- Flipkart
|
| Project manager- Data |
12 LPA-28 LPA
|
- Mercedes Benz
- Bain
- Paypal
- BirlaSoft
- InMobi
|
| Tableau Developer |
6 LPA- 18 LPA
|
- Emerson
- EY
- Wolters Kluwer
- Morgan Stanley
|
Government Sectors:
- National Informatics Center
- NITI Aayog
- Ministry of Statistics and Programme Implementation
- State Government
- Public Sector Banks
For more details and information on the career scope of various MBA Specializations, kindly click planedu. in.
