Master of Business Administration or MBA as the name suggests is an academic course that deals with the universe of administering a business. This program offers specialized knowledge in several streams. An MBA in business analytics is meant for those who aspire to build a career by guiding establishments in the best business practices. This course will empower you with a stronger understanding of data analytics tools.
An MBA in Business Analytics is a program that explores the data analytics component of running a business. This course teaches how to leverage statistics and tools dealing with data analytics. The syllabus includes material on business fundamentals, management practices and technical skills.
Surveys have shown that hiring managers look for candidates with business analytical skills and an MBA in the same definitely gives an edge. At the same time, a dearth of qualified business analysts also adds value to this degree.
In this blog, we will explore the various facets of this degree in terms of the scope of the course, fees, admission procedure and eligibility. You will also get to know about the career prospects, salary estimates and job opportunities. This blog will also inform you about the interesting facets of an MBA degree.
This program is designed to train you in business fundamentals, the technical aspects and the soft skills required to be an effective business leader. Some of the topics that are covered in this course are accounting, finance, marketing, international business relations, human resources and management.
Let us look at some of the finer aspects of this course.
Course Level – This course is conducted at the post-graduation level.
Duration – While a full-time course is conducted over 2 years, online courses conducted for working professionals usually runs over 15-16 months.
Examination Type – Exams are conducted in semesters.
Eligibility – Graduates with a 50% score from any recognized university are eligible for the course.
Admission Process – Admissions are conducted on the basis of entrance exams.
Major Entrance Exams – The major entrance exams conducted for admission are CAT, MAT, XAT, CMAT, NMAT and GMAT.
Course Fee – The course fee ranges between Rs 5 lakh and Rs 15 lakh for a year.
Average Salary – A person with an MBA degree in Business Analytics can fetch an average salary of Rs 8 lakh to Rs 16 lakh per annum.
Top Hiring Companies – Some of the prominent companies known to hire MBA in Business Analytics graduates are Morgon Stanley, Genpact, Amex and Mahindra & Mahindra.
A candidate keen on applying for an MBA in Business Analytics needs to have an aptitude for technology, a flair for strategy and an analytic bent of mind. One who is interested in decision-making and taking the lead is also a good fit for this course.
Let us look at the other eligibility criteria:
The admission process for most MBA programs like other courses is based on entrance exams. The exams sought by the colleges may differ but the level of the examination remains more or less the same.
Let us look at the crucial steps in this process.
An MBA in any sector guarantees a job with a higher salary package. In the case of Business Analytics, a candidate with an MBA degree can get you an average salary of Rs 8-16 lakh per annum.
All MBA aspirants have to clear the entrance exams. The rest of the selection process depends on whether the student has secured the cut off in the entrance test. These entrance exams vary from institute to institute.
Let us look at a list of the entrance exams.
This program requires all students to complete capstone projects. These projects are to be prepared from a set of topics. The subjects deal revolve around business intelligence and analytics software. Here are a few topics that are commonly taken up during this program.
Companies need to chart their future growth plans carefully so as to remain on the path of progress. In order to make companies need skilled professionals to forecast sales and other measurable parameters. This information goes a long way in understanding and influencing consumer behaviour. For these purposes, an establishment needs business analysts and an MBA makes one a frontrunner for such roles. Therefore, this degree carries great value for all professionals who wish to grow in the field of business analytics.
Let us look at some of the key advantages of enrolling in this course.
In-depth knowledge and superior skills: This degree will help you gain knowledge in a wide range of topics like marketing, finance, macroeconomics, leadership and management. This proves crucial during crisis situations while on the job and helps you to stand out.
Internship and real-world experience: This course provides the opportunity to secure an internship with reputed firms. Students, both freshers and professionals looking to switch careers, can thus gain valuable experiences. This program is also available for those who want to do the course along with their existing job. They can opt for part-time courses and even do it online.
Lucrative job market: According to reports, there is a dearth of skilled business analytics in the market. This has naturally increased the demand for MBA pass-outs. B-schools and institutions have thus been able to successfully place students.
Senior Positions: Candidates with an MBA in Business Analytics have a good chance to be directly placed in senior positions like management consultant, operations analyst and supply chain analyst.
High salaries: Business Analysts with an MBA can expect to receive salaries in the range of Rs 8-16 lakh per annum. These positions are also touted to be great in terms of job flexibility and work-life balance.
The MBA in HR program is generally spread over 2 years. The course covers a range of topics, including statistical analysis and business intelligence. The topics covered over the four semesters include:
An MBA in business analytics opens up a range of lucrative positions across industries. You are also eligible to apply for various senior and leadership positions. According to industry reports, globally there are 1.5 million vacancies for senior business analysts. This degree equips you with problem-solving and analytical expertise.
Below are some of the job openings for students of MBA Business Analytics:
Companies rely on Business Analytics to interpret data for arriving at decisions as per the market scenarios. It helps them to monitor performance indicators and decipher the results. All these functions require people who are trained to understand these conditions and have the specializations to provide the company with in-depth analysis.
Let’s look at some of the interesting aspects of this job profile.
Business analysts are in demand in the government sector too. Different departments in the government use their predictions to make informed decisions. Public sector companies hire data analysts and scientists, data mining experts and qualitative analysts.
This degree has proven to be a successful formula in climbing the corporate ladder. Several top companies take part in B-school placement rounds. Students passing out of Indian business schools find good placements in global companies too.
Some of the top recruiters in this sector are:
Q1. Why choose business analytics as a specialization in MBA?
Business Analytics has turned out to be a lucrative career option. An MBA degree in the same provides an in-depth understanding of the functioning of the industry. This qualification opens up lucrative job placements in public and private sector companies.
Q2. Is MBA in business analytics easy?
A master’s degree program involves specialized learning. In this case, students get to learn about the advanced aspects of data mining and interpretation. Anyone with a flair for analysis and numbers will find the course interesting.
Q3. Is MBA in business analytics worth it?
This degree adds value to your resume and paves the way to build a stable corporate career. It also helps you have a successful professional journey and a smooth run in the industry.
Q4. Who should do an MBA in business analytics?
Students with a flair for analysis and an interest in numbers can pursue this program. Apart from graduates, this course can immensely benefit working professionals looking for a change in career or upskilling opportunities.
We can thus conclude that if you have an analytical mindset, an MBA in business analytics can take you places. In this age of economic instability, business analysts have an important role to play in helping companies to get back on the growth track.
ASM’s Institute of Business Management & Research offers you the perfect opportunity to avail the best MBA degree in Business Analytics. Anyone with a score of 50% or more in their Bachelors can apply.