Business Analytics is attracting a good number of takers from all over the globe for the opportunities it offers. The age of data is growing, given the large number of them being generated every day. However, it is in a convoluted state, given its numbers. Business Analytics is one such tool that is helping to carve a clear picture out of the data and make business decisions.
Analytics has been around right from the 19th century and has been integrated into business practices to give out overwhelming results. Business Analytics was first introduced as a separate discipline by F.W. Taylor, one of the best-known personalities in the Business Management domain. He is known to have formulated the methods that gave way for effective management practices. The first known instance of the use of business analytics is for the monitoring of the lines of supply in Henry Ford’s factory. From then to now, business analytics has come a long way.
What is Business Analytics?
Business Analytics is a growing field for many reasons. One of them is that it has proved to be instrumental in helping big and small businesses to usher in transformation and growth. Most of it is attributed to the decisions taken by the corporates, for which business analytics is the tool. When Business Analytics is integrated into the data, the complexity that exists otherwise in understanding the data reduces significantly, making it one of the reasons for the use of Business Analytics in the current data-driven world.
Business Analytics refers to using statistical tools to analyse large sets of business data and form conclusions in a functional sense.
Business Analytics Jobs in India
India is a great place for Business Analytics professionals. Given the fact, India is a home for a large number of IT and Non-IT companies. Therefore there are ample opportunities for freshers as well as senior-level employees. According to the study conducted by YouGov, 83% of the companies were able to gain good profits amidst the pandemic situation, most of the credit goes to business Analytics.
As far as hiring of Business Analysts in India is concerned
Why choose Business Analytics as a career choice in 2021?
The survival of any business, be it big or small, depends upon the satisfaction of its customers. We can say that the number of years a business will survive is directly proportional to the number of happy customers it possesses. According to the Doing Business Report which was released in 2021, India ranks in the 63rd position with regards to conducting business, among the other 190 countries, from being in the 77th position in 2018. Further reports reveal that India has shown improvements for three consecutive years. This should prove as a motivating factor for anyone planning to start a business in India. Now we are well aware of India’s potential, what we need is a tool that helps in augmenting this potential. Business Analytics is the right tool.
The big data analytics market in India is expected to grow up to $ 16 billion by 2025. India accounts for 53% when it comes to the use of data analytics by companies.
- Employability Across Industries
Business Analytics professionals are needed by every industry. Organisations strive to gain a competitive edge, which in turn induce them to make the best use of their data potentials. Companies in every industry, be it Banking and Finance, Travel and Tourism, Hospitality, Education, Healthcare, Media and Entertainment, need business analytics for making better decisions.
- High Salaries
Given the opportunities in the field of Business Analytics, the salaries have also increased over the years. According to Glassdoor.com, a business analyst’s average salary in India is INR 7,00,000 p.a. It goes higher with the increasing years of experience. An individual with 10-15 years of experience is entitled to a salary of 12,00,000 to 13,00,000 p.a.
- Path to a promising career
Business Analytics is instrumental in creating job opportunities in various roles. Therefore, if you have the right knowledge and skillsets, you are employability for different positions is guaranteed. Precisely, Business Analytics skills will entitle you to job roles such as Data Analyst, Data Scientist, Business Analytics Manager, Quantitative Analysts, Product Managers, Scrum Masters, etc.
The realm of Business Analytics is fast-growing and evolving with time. Therefore, it is important to identify the need and get upskilled, to remain in demand. SKILLOGIC offers a comprehensive and industry-oriented Business Analytics Course, which will suffice in garnering the required expertise and knowledge that are highly recognised by companies in India and abroad. It has joined hands with IABAC (International Association of Business Analytics Certifications)