The business scenario has changed and today with technological innovations running businesses have become easier. Today, businesses rely on data and this data decides the future course of action for the business ventures. This has resulted in the demand for qualified data professionals and this use of data has penetrated into all sectors.
Business Analytics- A Simple Definition!
This business analytics is going to drive the business world and it is an integration between business, data and technology. The data is used in all business fields for their future success and if data is not used business ventures will lose out. This shows the importance of data in running and maintaining the business.
PGDM in Business Analytics!
It is a two years full time course approved by AICTE and the course teaches students about data and its importance in business ventures. Today this data is used in health sector, insurance and everywhere. Its place in business cannot be negated. Students from maths and statistic background will excel in the business analytics through post graduate and it is best for students who have analytical minds and problem-solving capacities. The students are guided by industry experts through out their course and it gives them hands on training in data, its uses and data mining.
Those who wish to bring about change to the existing business scenario will like taking up this course. Students should have completed their under graduation and they should have scored a minimum of 50% marks in the examination to apply to the course. Most students would have scored higher percentages and they should also clear the entrance examinations and interviews. CAT, MAT, GMAT, CMAT, XAT, CET and other entrance exam marks are considered. Some institutes stress on two or three years of work experience.
The Course Design!
Though data has been in existence for a longer time its prominence is felt only after 2010. Today businesses thrive on data for getting more profits. Business analytics through post graduate is designed to meet the demand for qualified expert professionals. Data helps to drive business growth and it is very imperative for profitable decisions. It is an application-oriented course and the students learn about data, its mining using tools and software. They are trained to interpret and arrive at conclusions using data.
As it is a management course the students learn management subjects too. The focus is on skill development and the students develop their decision making, risk taking and communication skills during the course. The students also get certifications in SAP, SAS, Tableau and Power BI.
Mentoring by industry experts and mandatory internships are the highlight of the course. Industrial visits and international immersion programmes are part of the course. Students can improve their acumen in the field through case studies, presentations, projects and panel discussions. The theoretical knowledge can be applied through projects and in labs.
The students learn management subjects apart from the core subjects. Some of the core subjects are managerial economics, financial accounting, marketing management, data modelling, statistical analysis, research methods, optimization analytics, business intelligence, computational methods, data mining, simulation modelling, HR analytics, machine learning, artificial intelligence, cloud computing, etc.
The Impact It Will Bring!
Correct decisions can be arrived at by taking up data and this reduces business costs. All big companies will have data departments and business will change their business strategies based on data. Health sector, insurance, banking and E commerce companies and even NGO will rely on data for future course of action.
These professionals are very much in demand and they are absorbed as business analysts, data analysts, financial analysts, supply chain analysts, consultants, business intelligence experts, data mining experts, data scientists, etc. Their average starting salary is about 9-10 lakhs per annum and it will increase with experience.
The author is an educational expert on courses and job opportunities. He contributes to international magazines regularly and you can get his views on post graduate in business analytics through itm.edu.