One of the best courses to do after graduation is a PGDM in business analytics. In the business analytics specialization, students get to learn about technology-based analytics and data, and how to use this data to improve business. It is a subject that is fast-gaining momentum owing to its relevance and scope in the professional world. Today, business analytics students get jobs quicker, and a salary that is higher than other students’ equivalent education but different specializations.
A PGDM in business analytics opens doors to many industries as business analytics is relevant and useful to almost all industries. It gives students the freedom of choice regarding the industry. Students can also choose from a plethora of careers they can pursue in India and abroad. By doing PGDM in business analytics from the right institute, you can also consider working overseas where there is a huge demand for business analytics experts. In India too, you can earn a good salary, as the starting salary ranges between INR 3 lakhs to 5 lakhs.
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Since business analytics is relatively new, here are a few careers you can choose to pursue. These careers can take you far in your professional life, and allow earning an excellent living.
Here are some statistics that show the scope and importance of business analytics.
So, what are the career options available for doing PGDM in business analytics? What industries can a student find work in? What is the salary for the said position? Find all the answers to your questions below.
Here is the list of top 15 careers & jobs options after PGDM in Business Analytics:
Similar to a scientist, a data scientist is an expert in the field of data. They use scientific, mathematical, and technological methodologies during their work. The role of a data scientist is to formulate a means of data collection, arranging & sorting the data, apply various methods to gain insightful data, and use the insights to make predictions and reports. This is one of the most sought-after professions. Owing to the demand, some start-ups pay data scientists figures close to INR 10 lakhs per annum. But in reality, this figure differs according to industry. As a data scientist, you can expect a figure from INR 4 lakhs to 8 lakhs.
Business analysts analyse every aspect of a business in-depth. They have to know everything about the business and its functioning. Marketing, advertising, accounting, finance, procurement, supply chain, distribution and more, a business analyst will have to analyse everything and provide insightful knowledge on improving the business. Since their work involves expertise in all aspects of a business, they are mostly hired by companies with large-scale operations. The average salary for a business analyst lies between INR 4 lakhs to 7.5 lakhs. With experience, you can also become a freelance consultant.
Market research analysts job is to know about the market in which the employers business is operating. Their main job is to know about their competitors and customers. They have to devise data collection methods like surveys, arrange this data, make understandable reports, and present the data to the executives. Based on these reports the management can make plans for the market, their customers and know about their competitors. Market research analysts make somewhere between INR 2 lakhs to 7.5 lakhs.
The medical field generates a lot of data, and to collect and make sense of this data, you need the expert services of a healthcare analyst. Their main job is to collect, compile, sort, and analyse the medical data collected. This data is then presented to improve upon healthcare for patients. Healthcare analysts must be experts in using computer programs for analytics. This is an important job that helps improve the overall conditions for patients all around. Healthcare analysts make anywhere between INR 4 lakhs to 8 lakhs.
An IT analyst is an IT expert who looks after the IT infrastructure of an organization. From simply maintaining the systems, to completely designing the infrastructure, the IT analysts are some of the most important personnel who are responsible for organizational efficiency and performance. IT analysts can improve upon current systems or can redesign a whole new system. They also have to head the IT operations of the company. IT analysts can make anywhere between INR 2 lakhs to 12 lakhs.
A quantitative analyst has to be an expert in mathematical and statistical methods of data collection, collation, and interpretation. Their job is mostly concerned with finances and risk management. They provide insightful data to a variety of businesses and professionals who mainly work in investment. Since their methods are mostly based on hard data, findings are mostly accurate. This is quite a lucrative position and can get you a salary in between INR 5 lakhs to 15 lakhs.
The title of the profession is quite self-explanatory. A computer systems analysts main job is to analyse the computer systems in an organisation. They need to have in-depth knowledge of hardware and software. They are expected to ensure that the computer systems in an organisation are running at their optimal best, allowing the employees to perform their tasks smoothly. They can upgrade the systems or create new ones altogether. They also have to be the bridge between the IT and business parts of the organisation. Computer systems analyst make somewhere between INR 6 lakhs to 12 lakhs.
Now, this is a profession seldom people have heard of. But you must have heard of predictive models. These models are programs that make predictions based on that data fed into them. Such programs and models are created by predictive modellers. They have to be experts in statistics, analysis, and technology. This is one of the newest and most upcoming professions in India; hence, there is not an accurate average figure on their salaries. However, a few reports suggest they make something between INR 2 lakhs to 11 lakhs.
For any task in a company, a person is selected to be a project manager, but there are professional project managers whose main job is head projects. Since this position is all about managing a project, their main job is to understand and analyse the task at hand, look for insights and delegate work to team members accordingly. They also have to ensure the team members are motivated and working properly, and the project is finished on time. Project managers make a handsome average salary between INR 4 lakhs to 8 lakhs.
Companies that are dependent on technology for their functioning require the services of a technology analyst. They do a complete analysis of the operational technology of the company and have to make improvements in that technology. This could be upgrading the technology or a complete overhaul. They also have to be mindful of the time and costs involved. This is quite an expert position and requires the candidate to have excellent technical knowledge. Therefore, they are also entitled to a decent average salary between INR 6.5 lakhs to 9 lakhs.
A statistician is a professional whose main job is related to data. First, they have to collect the data through mathematical, scientific, and technical methods. Then they have to sort and arrange the data according to their requirement from the task, and finally, they have to present the data in an understandable way through, charts, graphs, and presentations. Statisticians find work in both the public and the private sector. Their work is used by other experts to gain insight and make reports and predictions. Their salaries differ quite a lot based on whether they work in the private or public sector. Statisticians make somewhere between INR 2 lakhs to 12 lakhs.
A data architect is the professional in charge of the data infrastructure of an organisation. Data architects design, create and manage the complete data architecture. They need to have a balance between creativity and technical knowledge as they are the ones who decide how the data will be gathered, stored, sorted and managed within an organisational structure. Owing to the increased importance of big data, data architects are finding jobs in various industries. Hence their salaries range from INR 4 lakhs to 25 lakhs.
Analytics managers have to organise the analytics function in an organisation. For optimal data reporting, collection, and analysis, they have to develop strategies and oversee the implementation. They also have to regularly assess their analytics solutions, and upgrade or completely change the systems if it is required. Analytics managers also lead a team of analysts. They draw a salary in the range of INR 10 lakhs to 20 lakhs.
A technical team leader is the professional in charge of leading the technical team in an organisation. The team’s job is to manage all the technical aspects of the company. The team lead ensures there is new and improved technical development. They have to ensure technical products are of the highest quality and delivered on time, and they have to work with their developers to develop new products. Along with excellent technical skills, they also need to have great management skills. Tech team leaders make a salary in the range of INR 4 lakhs to 8 lakhs on an average.
Gathering and analysing data for the betterment of the organisations business is the main job of the data analyst. They are experts in collecting data through various methods. They also devise methods to collect data and create parameters to arrange and quantify that data. Post analysis, they provide insightful reports and suggestions to the organisation of improving business and profits. Data business analysts get a salary in the range of INR 4 lakhs to 12 lakhs.
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A PGDM in business analytics opens doors to many industries and careers, and you can see from the figures that the salaries are on the higher side, compared to other industries. Therefore, dont wait and opt for this course that will set you on a path towards a successful and fulfilling career.
If you still want to know more, you can get in touch with our counsellors. They can tell you more about the careers that are available to PGDM in business analytics graduates. You can also find out more about the whole course from them. ASMs IBMR is one of the top institutes for doing business analytics. We have one of the finest courses designed and taught by industry experts. We also have a 100% track record in placements. So, get in touch with us and visit our institute located in the beautiful city of Pune.