How can a business analytics programme make you professionally relevant in tech?
Technological strides in recent times have made things both easier and more difficult for business organisations at the same time.
While technological advancements have made it possible to automate manual processes to save time and money, it has also made business processes more complex and data-specific.
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Businesses are now looking towards Big Data and machine learning to provide answers to their business problems, and business analysts are stepping in to fill the need for expertise.
The increasing demand for qualified business analysts has made the decision to invest in a course in business analytics worthwhile. Let’s do a deep dive into how the right analytics programme can make your business analytics career future-proof.
What do you mean by business analytics?
Simply put, business analytics involves looking and interpreting business data to provide solutions for different organisational problems. As a business analyst, your job would be to employ statistical analysis of business figures to spot patterns or anomalies in the data.
Business analytics procedures are so complex that they have been divided into smaller components such as:
- Data aggregation
- Data mining
- Association and sequence identification
- Text mining
- Forecasting
- Predictive analytics
- Data optimisation
- Data visualisation
What are the different types of business analytics?
You can come across four primary types of business analytics, each with its specific data use-case and purpose.
- Descriptive analysis
- Diagnostic analysis
- Predictive analysis
- Prescriptive analysis
Why is the business analytics field booming so much?
Business analytics has been one of the biggest game-changers in the modern business world. Business analytics helps companies:
- Analyse business mistakes
- Take data-backed profitable decisions
- Take stock of risk factors and develop strategies to overcome them
- Keep track of the latest industry and business trends
Thus, organisations smart enough to invest in the latest Big Data and business analytics technology are racing ahead of their competitors.
Why should you think of getting into business analytics?
The business world is fast waking up to the enormous advantages of investing in analytics and Big Data to improve company performance. In fact, a recent news report in the Economic Times predicts that the global Big Data and analytics industry could reach a value of $ 684.12 billion by 2030.
With a growth rate this promising, it can be a wise career move to work in business analytics. Here are some more reasons to get into a business analytics career.
- You will learn to quantify business values better
- You will become adept at informed business decision-making
- You will gain excellent data visualisation and processing skills
- You can switch to any career domain with extensive applications of data science
- You can take your organisation ahead of its competition
- You can expect diverse career prospects and substantial compensation packages
How can a business analytics programme help you become technologically relevant?
The business analytics industry is so diverse and vast that you might get overwhelmed while preparing yourself for this career domain. The best way to set about it would be to invest in a good business analytics programme which can give you the following benefits.
- You can learn about data analytics in a structured way and a logical order instead of going haphazardly by yourself
- You can gain a plethora of technological skills
- You are introduced to industry-standard analytics tools and procedures
- You learn about the latest industry trends and developments
- You get a chance to connect with like-minded peers who are as passionate about an analytics career as you are
- You can make useful contacts among academics and experienced analytics professionals who can boost your career prospects
What kind of data analytics tools are you exposed to with a comprehensive data analytics programme?
An average business analyst can hardly hope to keep pace with the rate at which business analytics tools and platforms are being developed. Nevertheless, it is important to keep track of some industry-standard tools that are being used by most businesses.
Here are some data analytics tools that you would learn to use in your analytics programme.
- Tableau
- Heap Analytics
- Alteryx
- Google Analytics
- MixPanel
What kind of skills can you gain from a good business analytics programme?
A good business analytics programme from a reputed university will help you channel your skills and energy into a successful business analytics career. Here are some important business analytics skills that you can hope to acquire with a good analytics programme.
- Communication skills
- Problem-solving skills
- Inquisitiveness
- Visualisation skills
- Critical thinking skills
- Attention to detail
- Ability to see the bigger picture
- Knowledge of statistical software and languages
- Expertise in SQL
How do you choose the right business analytics course?
With the intense competition in the business analytics domain, a well-designed and comprehensive course is the need of the hour for most students. While you would get enough course options in the market, you should invest in a programme that suits your career ambitions.
Here are a few handy criteria that can help you select the right business analytics course.
- Academic flex and institutional legacy of the university
- Innovativeness and comprehensiveness of the curriculum
- Teaching and industry experience of the faculty
- Duration of the course and teaching schedule
- Availability of practical lessons and industry internships
- Availability of career support services
GISMA Business School in Germany provides an optimum mix of all these factors through the MSc Business Analytics programme. Based out of the Berlin campus, this course provides you with the technical skills required for a business analyst today.
The master’s in business analytics is awarded by The University of Law, one of the most prestigious universities in the UK. The programme has a strong focus on improving students’ employability through career support services and access to industry journals and white papers.
Click here to enrol in this industry-oriented business analytics programme at GISMA and improve your business analyst skills.
– This article was written by Sweha Hazari.