MBA in Business Analytics - Careers, Salary, Jobs, Scope
MBA in Business Analytics: Brief Summary
Course Name | MBA in Business Analytics |
Duration | 2 years |
Level -Degree/Diploma | Postgraduate Degree |
Mode | Full Time |
Eligibility | Graduation with at least 45-50% |
Expected fee | Rs 1,00,000- Rs 6,00,000 |
Average Starting Salary | Rs 30,000 p.a |
Admission Process | The candidate should have a full-time Bachelor’s degree for at least 3 years. Some institutes prefer aggregate of at least 50%. |
Tests Accepted | CAT/MAT/GMAT/XAT/CMAT |
Top recruiting companies | McKinsey and Company, Boston Consulting Group, Morgan Stanley, Adani group, LinkedIn, American Express , Capital IQ |
Why MBA in Business Analytics?
Nowadays MBA in Business Analytics is one of the most demanding programs among management students and professionals across the country.
Business Analytic- the term comprises of two different words i.e Business and Analytics. Both are very significant words. The term Analytic refers to the process, technologies or techniques which help to turn data into information and knowledge that drive business decisions. On the other hand, Analytics supports business decision making and enhances organizational performances.
MBA in Business Analytics is a 2-year course and the average fee for the program is an around 3.5 Lakhs. For admission, candidates need to be at least a graduate with 50% marks in his/her bachelor’s degree.
Skills Required
- Good communicator, smooth facilitator, precise analyzer
- Good team player.
- Bridge the gap between business system from the end user to functional implementation of the technical solution.
After graduating from these institutes one can get a job in various industries like Retail, IT firm, financial services, healthcare, Manufacturing, energy, oil & Gas, social media, Gaming, e-commerce and e-governance, Telecom etc.
The work pressure of this role varies from company to company. In a start-up or tier-II company, the work pressure is much more intensified than a stable one. The nature of this job is basically in an office job. Working hours also vary from industry to industry.
Students can also check out our Post Graduate Diploma in Business Analytics Article.
MBA in Business Analytics Job Roles and Career Opportunities
There are many career options available after completing MBA in Business Analytics. Below mentioned are some of them-
Business Analysts
The business analyst needs to analyze and improve the functioning and activities of the business organization so that the opening cost will be reduced and output will be maximized.
Data Analyst
The Data Analyst needs to take data and use it to help out the business organization to make the better business decision.
Quantitative Analyst
The Quantitative Analyst needs to identify profitable investment opportunities and manage the risk factors.
Market Research Analyst
The Market Research analyst needs to gather and analyze market data.
Big data Analyst
The big Data Analyst needs to help in importing, cleaning, covering and analyzing the data for finding insights and making decisions
Business Intelligent Expert
The Business Intelligent Expert needs to be responsible for the design, development, implementation, management and support mission of the business organization.
MBA in Business Analytics: Salary
Lately, the job of Business Analyst has become one of the highest paying profiles in the management field. At an entry level, one can get Rs 4.50 lacs to 7.50 lacs salary per annum.
Below is a distribution of remuneration based on job titles and experience.
Level of Experience | Job Title | Salary PA |
Fresher | Business Analyst, Big Data Analyst, Market Researcher etc | Approx. 5 lakhs |
Mid Management Level | Data Scientist, Qualitative Analyst, Predictive Modeller etc.
|
Approx.14 lakhs |
Leadership role | Senior /Lead Data Scientist, Technical Team Leader, Project Manager, Big Data Manager etc | Approx. 25 lakhs |
After working as a Business Analyst for a few years, one can move into the Subject Matter Expert (SME) position. After 3 to 5 years of experience, one can move into IT Business Analyst /Senior/Lead Business Analyst or Product Manager position.
After 8 to 10 years of experience, one can hold the Chief Technology Officer position or can work as a Consultant with a package of Rs 15 Lakhs PA and upwards.
Recruiters
The job market for Business Analytics or Data Analytics is expanding. There is a big gap between analytics openings and deserving candidates. Potential MBA’s in Business Analytics can easily get the job in many Multinational and Transnational companies.
Below is a list of some of the big recruiters in Business Analytics field:
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Specialization Offered
MBA in Business Analytic offers various career prospects. After graduating in this field, one can choose the following options-
- Business Analyst Industry Expert
- Business Analyst Project Manager
- Data Scientist
- Predictive Modeller
- Technical Team Leader
- Healthcare Analyst
- Financial Analyst
- Data Warehousing expert
- Data Analyst SAS Programmer
- Data Mining expert
- Data Warehousing and BA architect
MBA in Business Analytics: Syllabus
Syllabus of this programme varies from institute to institute. Mainly the syllabus focuses on the following areas.
Core Areas
- Basics of Data Analytics, Applied Statistics, Data Visualization
- Statistical Communication, Legal Aspects of Business
- Application of Industry Analytics, Data cleaning, Normalization and Data Mining
- Spreadsheet Modelling and analysis, Query Language
All the institutes/Universities offering this programme, are primarily includes the following subjects in their Business Analytics programme.
- Organizational Behaviour
- Principles of Management
- Business Communication
- Marketing Management
- HR Management
- Finance Management
- Business Modelling
- Data Environment
- Operation Management
- Data management
- Business Analytics
- Data Visualization
- Programming for Analytics
- Predictive Analytics
- Big Data Analytics
- Business Law
- Data Mining
Popular colleges offering MBA in Business Analytics
There is a different kind of Business Analytics course offered by different institutes/Universities. Below is a list of top colleges/B-schools offering management courses in Business Analytics–
Name of the Institute | Course offered | Course fee (Rs) |
ISB Hyderabad
|
Executive certificate course | 3.55 lacs |
NMIMS, Mumbai
|
Post Graduate Certificate course | 2.50 lacs |
IIT Kharagpur | Post Graduate Diploma course | 1.60 lacs |
IIM Bangalore | Executive Certificate Programme | 4.25 lacs |
ICFAI Hyderabad
|
MBA in Business Analytics | 3.83 lacs |
Praxis Business School, Kolkata | Post Graduate course | 3.30 lacs |
Below is a list of top courses-
Course | Duration |
Post Graduate programme in Business Analytics | 2 years |
Executive programme | 6-12 months |
Post Graduate programme in Business Analytics and Big data(2 years) | 2 years |
Certificate programme in Big Data And Analytics | 6 months |
Post Graduate certificate in Predictive Business Analytics | 10 months to 1 year |
PGDM programme with Analytics Specialization | 2 years |
PGDM with business Intelligence and big data | 2 years |
Executive programme in Business Analytics and Business intelligence | 6-12 months |
Requirements for MBA in Business Analytics
The basic eligibility criterion for entering into this programme is the completion of Graduation from any recognized university. This course is meant for those who are already working in analytics and want to enhance their knowledge in this field. It is also suitable for those who have the analytical aptitude and want to shift their career into analytics.
Admission Criteria
The Admission criterion to get into this course varies from institute to institute. CAT, MAT, GMAT, XAT/NMAT or institute wise entrance tests are the gateway to enter into this programme.
Why should you choose to do an MBA in Business Analytics?
The job market for good Data Analyst is expanding as there is a huge demand for it. MNC’s and big companies are always on a lookout for good data analysts professionals. These companies have a bulk of information/date and to organize, evaluate these date in a proper way, data analyst are required for the substantial growth and development of a company.
Analytics play the pivotal role in the company’s overall growth and development. Data analyst needs to be good with numbers. To become successful in this field, one needs to know programming, statistics, data managing, and data visualization. The main strength of analytics is that it is multi-domain and multifunctional in its application.
The main task of a good business analytics is to use statistical and analytical tool to decode the consumer rights. Being a rather new specialization, the demand is way higher than the supply of skilled candidates with apt managerial skills in this field. Considering the shortage, the scope of Business Analytics is bright and lucrative.