Benefits of Pursuing an MBA in Business Analytics

When it comes to big data and data science, both terms have become the buzzwords of today’s business world. A large amount of data is being generated which is consider the goldmine for the companies. To operate efficiently and perform according to the norms, companies require analytics for decision-making. If you are interested in solving business problems and implementing data-driven strategies then a business analyst MBA is the best option for you.

So, let’s go ahead and discuss the advantages of pursuing this course and the reasons it has gained such popularity in recent times. But first, we need to understand the chronicles of analytics. Analytics has been around with us for longer than we can remember. One of the earlier uses was for record-keeping. In the 1800s, an American mechanical engineer who was one of the world’s first management consultants, Frederick Winslow Taylor, applied analytics to business operations that become successful in recent times.

The main aim conceived by him was to achieve the industrial efficiency that gave him the title of ‘Father of Scientific Management.’ Economies around the globe have flourished as a result of the digital revolution. And modern-day organizations have been able to deliver seamless experiences to both employees and customers. Some examples of these functions include business intelligence, decision support systems, data warehouses, enterprise resource planning, or ERP systems.

Benefits of Business Analytics

• • It is use for statistical techniques, for example, mean, standard deviation, etc.
  • This Usage in information system software like data mining, sorting, etc.
  • You can find it for operational research like linear programming etc.

With the help of the above mention function, analytics is used in exploring, visualizing, detecting, and communicating patterns in data. So, analytics has gained much prominence in business-related operations. All the leading business corporations use business analytics components to support decision-making and enhance performance and profitability.

Moreover, the complexities and uncertainties of the business can be simplified to a great extent by adopting business analytics. Because of this, the demand for individuals with an MBA in business analytics has gone up in the job market.

There are various institutions that offer full-time and part-time formats. Most of the programs are entirely for professionals and for students who wish to attend the classes can attend the offline classes. The program lasts from 15 months to 24 months.

Market Trends

According to the Harvard Business Review, business analytics is an attractive job field for the 21st century. The 2020 corporate survey conducted by GMAC has revealed that 50% of the leading companies are planning to hire MBA talent for analytics-based roles. As per the McKinsey Global Institute report, nearly 1.5 million new candidates with analytical talent will be require for multiple managerial positions. Data science has emerged to be one of the primary skills that recruiters seek in new B-school graduates today. So, earning a specialization in business analytics helps you to combine your problem-solving ability with technical expertise.

Conclusion

There are many companies that prefer MBA in business analytics because there is a high time when to look for a better future by comparing yesterday and today. Data science is all about getting decisions making by considering all the above-mentioned benefits for the company. With a data science degree, you have the opportunity to solve case studies and undertake projects to enhance your conceptual clarity. So, if you are planning to pursue a business analyst MBA then today is the best time because there is a wide scope for the course in the future. There are many companies that are looking for analytics graduates that can solve their day-to-day analytical problems.