MBA In Business Analytics Courses

An MBA in business analytics prepares aspirants to work for data-driven organisations. Many colleges in India offer business analytics courses with curricula focused on business intelligence and analytics domains.

The list below includes the top ten institutes in India offering an MBA in business analytics:

1. Indian Institute of Management (IIM), Ahmedabad

2. Indian Institute of Management (IIM), Bangalore

3. Indian Institute of Technology (IIT), Kharagpur

4. Symbiosis Institute of Business Management (SIBM) and Symbiosis Centre for Management and Human Resource Development (SCMHRD), Pune

5. Great Lakes Institute of Management, Chennai

6. Symbiosis Centre for Information Technology (SCIT), Pune

7. SP Jain School of Global Management, Mumbai

8. School of Management Studies, University of Hyderabad

9. Narsee Monjee Institute of Management Studies (NMIMS), Mumbai

10. Chandigarh University, Mohali

Job roles candidates get offered after completing an MBA in business analytics primarily depend on their skill set, domain knowledge, work experience, and in some cases, the employer.

Following is a list of job roles typically offered to students with an MBA in business analytics:

• Data Scientist
• Data Analyst
• Business Analyst
• Big Data Analyst
• Qualitative Analyst
• Supply Chain Analyst
• Predictive Modeller
• Market Research Analyst
• Business Intelligence Expert
• Data Mining Expert
• Data Warehousing Expert
• Business Analyst (Project Manager)
• Business Analyst (Industry Expert)
• Technical Team Lead
• Data Analyst SAS Programmer

MBA in business analytics is a course with a thrust on data and analysis. As such, it has tremendous scope in the fast-changing global business landscape.

Completing an MBA in business analytics makes you eligible to enter the three fundamental analytical domains: descriptive analytics, predictive analytics, and prescriptive analytics.

• Descriptive analytics refers to the simplest form of analytics that uses current and past data to identify relationships and patterns. While descriptive analytics doesn’t dig deep into data, it is useful for identifying change over time and supplies trends to drive further analysis and decision-making.

• Predictive analytics is a form of advanced analytics that uses historical data to predict future developments. Companies use predictive analytics to investigate data patterns to find risks and opportunities. Predictive analytics uses a combination of statistical modelling, machine learning, and data mining techniques.

• Prescriptive analytics leverages data to formulate optimisation techniques and determine a practical course of action to improve present and future business productivity and performance. It promotes data-driven decision-making and gives recommendations on what should be done next.

We can estimate the scope of an MBA in business analytics to span the following business segments:

• Sales and marketing

Companies can leverage analytics to study customer responses to their marketing campaigns. It involves investigating customer purchasing behaviour trends, their needs and preferences, average income, and other factors that affect buying patterns. Companies can utilise this received data to target their marketing campaigns to the right demographic and curate products that align with customers’ requirements.

• Customer experience

Top-notch customer experience is the key to business success. Therefore, it is crucial to understand customers' buying preferences, purchasing patterns, and what they expect from a brand. Business analytics enables companies to gain an in-depth understanding of their customers. It allows brands to tailor products and services that maximise customer satisfaction and ensure long-term customer loyalty.

• Finance

Data science and analytics play crucial roles in business finances. When done correctly, data analysis gives insights into business transactions and forecasts potential future financial scenarios. An analytical approach toward business expenditure facilitates effective financial planning, efficient resource allocation, and improved decision-making. In other words, financial analytics shapes business strategy through data-driven insights.

• Supply chain management

Business analytics can streamline supply chain processes and help companies reduce overhead costs. It facilitates forecasting the timing and frequency of orders, understanding which products are in demand, and ensuring enough inventory to meet those demands. Analytics allow companies to strategise their supply chain operations while scaling sustainably.

• Human resources

Hiring and recruitment are critical business aspects since the quality of hires directly impacts an organisation’s productivity and performance. Thus, companies look for HR professionals with a background in business intelligence and data analytics to promote data-driven decisions in hiring and recruitment. Specialists understanding human resource analytics can leverage data analysis to hire and onboard employees who can be assets to the company.

As far as the career opportunities are concerned, candidates with an MBA in business analytics have good prospects of directly landing senior position job roles like operations analyst, management consultant, and supply chain analyst. Even if a candidate starts with an entry-level position, they can quickly climb up the corporate ladder with the relevant business analytics skill set. A career after an MBA in business analytics is also rewarding in terms of salary prospects, job flexibility, and work-life balance.

Business analytics is a lucrative and rewarding MBA program, with business intelligence and business analytics integrated into a traditional MBA program. Candidates can choose specialisation according to their area of interest in the program's second year.

An MBA with a concentration in business analytics focuses on the statistical and analytical aspects of handling data to solve business problems. The goal is to train candidates using analytical tools and data analysis methodologies to drive data-centric business decisions and actions while also honing their managerial and leadership skills.

While a traditional MBA in business analytics program runs for two years, the course duration can vary depending on the type of MBA you enrol in.

In terms of program duration, an MBA can be of three types:

• Full-time MBA (Two Years) -A full-time MBA program spans four semesters distributed across two academic years. While the program's first year covers the course fundamentals, the second year focuses more on internships and specialisations.

• One year full-time MBA -A one-year MBA packs almost the same course content as a two-year program. However, the program is more intensive and fast-paced, with less time dedicated to each model. However, you will still have the chance to choose the specialisation of your choice.
• Executive MBA - An Executive MBA is a part-time program but is often completed within a span of two years or less. However, these are mostly meant for working professionals who bring work experience to the table.

It is essential to know the syllabus before applying for an MBA in business analytics. The table below gives the syllabus for business analytics specialisation in MBA to help you understand the subjects and topics you will learn within the program:

Subjects in MBA business analytics are divided into core and elective papers. Students can choose a specialisation based on their area of interest in the second year of the two-year postgraduate program. MBA business analytics also offers internship programs and capstone projects for students to get hands-on learning experiences in real-world environments.

Core subjects in MBA business analytics:

• Business Analytics and Intelligence
• Supply Chain Analytics
• Digital Marketing
• Social Media Analytics
• Social Entrepreneurship
• Corporate Valuation
• Model Business Decision
• Research for Marketing Decisions
• Brand Management

Elective subjects in MBA business analytics:

• Operations Strategy
• Global Securities Market
• Corporate Governance
• Multivariate Data Analysis
• Business Forecasting
• Indian and International Perspective
• Infrastructure Development

MBA in business analytics is a widely sought-after postgraduate professional program that provides aspirants with the skills, experience, and exposure they need to succeed in a corporate. However, the program may not be right for everyone, mainly due to the following factors:

Dedication and time commitment

MBA programs are touted to be intensive and hectic. In addition to the theory papers and classes, you have to engage with numerous assignments, projects, and extracurriculars. Whether you are pursuing a two-year course or a part-time program, you must be willing to devote your full commitment, engagement, and hard work to complete the course successfully.

Cost

MBA programs are a significant financial investment, especially if you are pursuing one from a reputed institute. Premier MBA colleges in India and abroad have hefty course charges, which mostly exclude lodging expenses and other miscellaneous fees. The relatively high costs of an MBA can be a financial burden that keeps many students from applying for the program.

Choosing whether to apply for an online MBA in business analytics or take the traditional campus-based course is confusing for most students. While you may be well-versed with what campus life offers, signing up for an online program can seem intimidating at first. However, online MBA programs have emerged as a popular option among many aspirants, and for good reasons.

Here’s what an online MBA business analytics course can offer over its offline counterpart:

Flexibility

With an online MBA, you can take your classes at your convenience with 24/7 access to course materials, video lectures, and other resources. An online MBA is a practical option if you have professional or personal commitments.

Cost-effective

Online MBA programs are usually less expensive than on-campus programs. The tuition fee for an online MBA is significantly less. Moreover, you can save on transportation and accommodation costs since you do not have to travel or relocate to take online classes.

Global networking

Online MBA programs are usually offered by globally-recognised colleges and institutions or are at least accredited to one. These online platforms become a networking ground for students and professionals from all over the world, a great opportunity if you are looking to expand your connections.

According to Mordor Intelligence reports, the global business analytics market had a valuation of USD 67.92 billion in 2020 and is forecasted to reach USD 103.65 billion by 2026. The industry is expected to grow at a CAGR of 7.3% over the forecast period 2021-2026.

The Indian analytics and data science market is also poised to expand and play a critical role across industries and sectors. In FY 2021, the analytics domain market size in India increased to USD 45.4 billion, up 26.5% from the previous year’s valuation. While the analytics domain accounted for 23.4% of the IT/ITES market size in 2021, the current expected CAGRs for the sectors are expected to drive the analytics industryto contribute 41.5% of the IT/ITES market by 2026. Notably, 34.2% of analytics professionals in India are engineering graduates, whereas about 21% are MBA postgraduates

The demand for MBA in business analytics courses has shot up in recent years and for good reasons. To begin with, the emergence of big data has led to an increased need for business analysts and data scientists across organisations of all sizes. It is impossible to analyse and extract insights from data with only a few professionals skilled at the job, considering the massive volumes of data businesses generate. Therefore, organisations are keen on hiring skilled analysts who can fuel business growth through data-driven decision-making. Attractive salary packages, broad scope, and a wide range of career opportunities motivate candidates to studyMBA in business analytics. Together, these factors have led to the accelerating demand for MBA business analytics courses in India.

The salary of business analytics professionals in India ranges from INR 1.3 LPA to INR 30.7 LPA, with an average of INR 8 LPA.

Factors on Which MBA in Business Analytics Specialist Salary in India Depends

The salary of business analytics professionals in India primarily depends on the following factors:

• Experience -Salary for freshers and entry-level positions are typically the lowest and increase as a candidate gathers more work experience.

• Type of company -The salary will differ with the company or the employer, such as the government or public sector, MNCs, startups, Fortune India 500 companies, and conglomerates.

• Industry -Salaries of business analytics professionals also differ with the industry, such as financial services, IT services and consulting, manufacturing, research, analytics, and so on.

• Job location -Jobs in metro cities or tier 1 cities of India (Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Kolkata, Pune, and Ahmedabad) will pay more than other locations.
  

MBA in Business Analytics Specialist Starting Salary in India

The estimated average annual salary of fresher business analytics professionals in India is from INR 1.7 LPA to INR 2.2 LPA. One year of experience may take the average annual salary to 8.4 LPA.