MBA in Data Analytics - A Detailed Guide

Data holds extreme value for companies and organizations when it comes to making changes in any aspect of their functioning. There are loads of raw data available, but it is not helpful until it is analyzed and interpreted. Data, when analyzed, helps unearth beneficial insights. This is where data analytics comes in. Data Analytics is the process of analyzing raw data to make relevant and useful conclusions from the disorderly pile of data. The useful insights gained from this process further helps in the research process and decision-making. With all the power held by big data, it is understandable that the industry demands individuals with Data Analytics skills. Pursuing an MBA in data analytics in Pune or other big cities is highly preferable. Data Analytics is essential to organizations because it brings out certain invisible flaws that might hinder the company's efficiency. Through the science of data analytics, organizations can make better decisions backed by facts and numbers which represent the actual reality. It also identifies customer trends, satisfaction, and behaviour which aids in decision making regarding new products and services. Many of the data analytics techniques and methods have been integrated into mechanical processes and algorithms that operate over raw human consumption data. Data Analytics is an umbrella term that includes various terms of data analysis. Data Analytics can be separated into four types which are 1) Descriptive Analytics 2) Diagnostic Analytics 3) Predictive Analytics 4) Prescriptive analysis. We are experiencing times where we are enveloped by technology, and the internet is a major part of our lives. With the majority having access to smart devices and social media, we are inhaling and exhaling data like oxygen. This increased usage of the internet has led to the massive growth of jobs in this field with long term potential. The scope of an MBA in business analytics is thriving, and the future looks promising. In this programme, you are educated and trained thoroughly in data analysis and learn to use insights to generate efficiency and sales/ profit for companies. High demand for MBAs in business analytics can be observed in IT Firms, Business Analytics firms, Telecom Companies, MNCs, Manufacturing companies, Consultancies, Retail companies, Intelligence firms. Well-known companies hire MBAs in business analytics; the top ones being Google, Wipro, Infosys, HCL, Deloitte, etc. Starting salary can range anywhere between 2.5 lacs to 5 lacs per annum. You should do your MBA from the best management colleges in Pune, Bangalore, Mumbai, Delhi, etc. as your salary might be higher. As you spend more time in the industry gaining more experience, you will move to management roles in the mid-level resulting in a higher salary ranging between 7lacs to 15 lacs per annum.