Business Analytics Career: All You Need To Know In 6 Easy Steps

Introduction

Business Analytics career prospects have been skyrocketing in the last few years. Did you know that there is so much demand for skilled professionals in the domain that companies like Microsoft and Google hold conferences every year to encourage more people to join the Big Data movement? In this blog, we discuss everything you need to know about a Business Analytics career.

1. Firstly, what do Business Analysts do?
2. Is Business Analytics a good career?
3. What is the average salary of a Business Analytics professional?
4. What are some excellent Business Analytics career opportunities?
5. How to start a career in Business Analytics?
6. What is a Business Analyst’s career path?

1. Firstly, what do Business Analysts do?

In recent years, there has been a massive push toward collecting, preserving and analyzing large amounts of data. This revolution is one of the most significant undertakings by all companies globally and is the top priority right now. So, Why is Big Data so big? The reason is simply that it gives results! Data is one of the biggest assets a company can have and to process and utilize these raw data sets, they hire Business Analytics professionals. 

Business Analysts use statistics and algorithms to harness this data into powerful knowledge. As a Business Analytics professional, you will provide critical insights and ensure support and success in stakeholders’ informed decision-making. A Business Analytics career puts you at the forefront of upper-management and stakeholder policies. The career objective for Business Analytics professionals is to have a stronghold over company data in order to assess customer inputs and marry them to brand value.

2. Is Business Analytics a good career?

Yes! Business Analytics is an excellent option for you, no matter which department or industry you work in. Whether you are a fresher or a working professional who’s already employed and now wishes to take your career to the next level, Business Analytics can definitely take you to newer heights.

The demand for Business Analytics professionals is unprecedented, and it is only growing. With greater need, the salary is naturally high. Not only this but moving upwards in your Business Analytics career path is also very easy. If you are interested in a Business Analytics career, you can take the help of reliable resources available online. According to a study by IBM, 39% of job postings in Data Science and Advanced Analytics require applicants to possess at least a master’s degree.

3. What is the average salary of a Business Analytics professional?

According to India Today, an Analyst receives an average salary of INR 11 Lakhs in a year. You can aim to build a stable Business Analytics career in India and across the globe. 

4. What are some excellent Business Analytics career opportunities?

If you are keen on knowing the Business Analytics career scope, don’t worry. There are ample opportunities across industries. Not only that, but Analysts are also hired in all departments, i.e., they are needed for Financial Analysis, Marketing Analysis, Sales Analysis, Product Cycle Management, Client Services, Human Resources, and more.

So if you are passionate about a particular field and don’t have the respective college degree, or are choosing a new industry for a career after MBA in Business Analytics, you’ll find plenty of domains hiring. Given that there is a massive demand in the job market (both in India and internationally), Business Analytics careers are the ideal choice for learners who want to keep their options open, as well as for mid-level professionals who want to jump sectors or want to transition to management.

5. How to start a career in Business Analytics?

To kick-start your Business Analytics career, you must be proficient in mathematics and statistics. But that’s not all; you should also have a good grasp of the latest programming languages and tools that companies are using today like SAS, Hadoop, R, and Python. You will also have to use Intelligence and Visualization tools like Power BI and Tableau in your job. Most importantly, you must have an analytical mindset and excellent communication skills, as you will be working with significant decision-makers. 

6. What is a Business Analyst’s career path?

To be honest, the scope of a Business Analytics career is very vast. If you are considering a Business Analytics career, you should know that your job profile will not be concrete. The job will need you to think on your feet and allow you to encourage your creative side and your technical side. Ultimately, you will decide how to take your journey forward.

The Business Analytics career path is extremely flexible. If a person is technical, he/she can work as a Data Scientist or Solution Architect. If a person is good at understanding the patterns and consistency or inconsistency in numbers, a job that demands Business Analytics, along with Leadership Skills, is a good option. Increasingly Business Analysts are also being hired in consultancy and Subject Matter Expert roles.

Conclusion

Companies have recognized that fresh thinking minds are the need of the hour. A Business Analytics career path is one that puts you in an exciting, fast-paced environment where you will be working with the heads of your organization, right from the get-go! A profession that encourages you to think big, the Business Analytics career is challenging but rewarding! If you are interested in making it big in the world of data and evolving as a Future Leader, you may consider our Integrated Program in Business Analytics, a 10-month online program, in collaboration with IIM Indore!