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Jagpreet
26 October, 2024
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Businesses across industries rely on analytics to improve efficiency in this data-driven world. An MBA in Business Analytics offers you a unique blend of cutting-edge data insights and leadership. You must have seen how Netflix predicts the next binge-worthy show, and Tesla enhances its product line. With an MBA in Business Analytics, your opportunities in top companies are vast and dynamic.
According to Technavio (2024), the demand for the analytics market is estimated to grow by 15.06% from 2023–28. Also, according to the World Economic Forum (2023), people with an MBA in Business Analytics are expected to earn 20–30% higher salaries than non-analytical professionals.
Moreover, companies like Amazon, JPMorgan Chase, and Unilever utilise the power of business analytics to offer better customer experiences. If you are also a business analytics graduate, this can be the best opportunity ever to secure your dream job. This blog will help you discover the top career options after completing an MBA in Business Analytics. So, let’s scroll down.
The MBA is a popular course among today’s business leaders. It offers you a range of specialisations in different majors. An MBA in Business Analytics is typically a 2-year programme. It’s a general MBA degree with a major in business analytics. It teaches you to convert gathered data into practical business insights.
This programme facilitates training in management and technical skillsets. Its rich and industry-orientated curriculum allows you to secure jobs at your dream companies. Also, there are numerous career options after an MBA in business analytics. However, before moving on to that, let’s learn a bit about its scope and job outlook. So, you can understand whether it’s a worthwhile programme for you or not.
Related: Online MBA in Business Analytics: Comprehensive 2024 Guide
According to BLS (2023), the job market for business analytics professionals has grown by 14% from 2020 to 23. An MBA in business analytics opens the door to numerous industry career options. Its scope extends from financial analysis to business intelligence.
The need for business analytics people has grown widely with the increment in data-driven businesses. So, an MBA in business analytics can be the icing for you in the business world. Let’s determine the top career options after an MBA in business analytics.
Pursuing an MBA opens up a range of career opportunities. A major in business analytics enhances your qualifications. Numerous careers can be pursued after an MBA in business analytics. Here are the top 7 career options after an MBA in business analytics.
The US Bureau of Labour Statistics has repeatedly mentioned that data-driven careers would grow rapidly in the coming days. This makes “data scientist” a lucrative career with great growth and earning potential. Data scientists earn between INR 3.8 and 42.3 LPA based on their profile and experience. Here are some of the roles of data scientists:
Analysing the trends and flow of data to discover new trends
Developing data models and appropriate algorithms to predict outcomes
Using the techniques of ML and AI to enhance data quality
Utilising trending data tools, including Python, SAS, and SQL, in Data Analysis
Also referred to as market researchers, these professionals help a company acquire a competitive edge in the business world. They gather, analyse, and clean data to uncover beneficial business insights. Monitoring survey responses helps them develop marketing strategies. Moreover, they actively oversee social media mentions to derive marketing opportunities. Their average salary range lies between INR 1.8 and 13 LPA.
Building innovative data-gathering techniques and tools
Utilising data modelling tools and monitoring data sets
Enhancing marketing strategy with the help of data
Performing product testing and research for brand management
People often connect risks with financial stats. However, in today’s fast-paced world, everything is associated with risks. Apart from economics, they are also responsible for analysing operational risks. Risk analysts collaborate with market researchers to inform them about the potential dangers regarding strategies. You can earn an average of INR 2–18.7 LPA. Let’s explore some primary duties of risk analysts:
Evaluating the potential risks associated with financial, operational, and compliance tasks.
Deploying statistical tools to analyse data to know risk exposures.
Documenting the findings and recommendations of risks for stakeholders.
Participating with other teams to build risk management policies.
Big Data analysts are the experts in handling large and complex data sets. They interpret, analyse, and monitor datasets for further use. Primarily, they convert raw data into beneficial, actionable insights that a business can use for profit. As a big data analyst, you can land jobs with an average INR 2.5–17.5 LPA. Below are the key responsibilities of prominent data analysts:
Collecting structured and unstructured raw data from various sources to utilise it.
Performing data cleaning on the gathered data for optimisation.
Analysing giant data sets with the help of statistical tools.
Creating visually represented data in charts, graphs, and dashboards.
A data analyst can be referred to as a subset of a big data analyst. It is one of the top career options after an MBA in business analytics. Prominent data analysts are tasked with handling complicated data sets. However, data analysts assist them in collecting and analysing data. They play a vital role in enhancing customer experiences and improving operations in an organisation. Generally, data analysts can earn up to INR 13 LPA. However, this range varies depending on your company and experience. The following are the roles of a data analyst:
Conducting data surveys on different platforms and gathering the information.
Ensuring the quality and accuracy of data sets.
Cleaning the data and pretreating it before finalisation.
Preparing reports and presentations on the data analysis and its performance.
Product managers are involved in the lifecycle of product development. They monitor the progress of products and play a crucial role in making them successful. The best part about product managers is that they bridge the gap between sales, engineering, marketing, and other departments. Focused on meeting the business goals, they ensure the success of a product or service. A product manager’s salary ranges from INR 5.6 to 52 LPA based on several factors. Let’s discover the responsibilities of a product manager in an organisation:
Developing the product strategy based on customer feedback, market research, and competitive analysis.
Maintaining a roadmap of the product’s lifecycle and creating outlines.
Conducting thorough market analysis to understand the needs of customers regarding a product.
Evaluating the product’s performance and using its metrics to enhance its feedback.
Supply chain processes are a crucial segment of an organisation. The supply chain analysts evaluate and optimise these processes to derive efficiency in a business. They work on reducing costs and enhancing efficiency by using data-driven insights. If you want to be a supply chain analyst, an MBA in business analytics can be your redeemer. The average salary ranges for supply chain analysts vary from company to company. However, you can earn a decent amount from INR 2.5 to 13 LPA in this career. Here are a few key roles of a supply chain analyst:
Gathering and evaluating data associated with the supply chain process.
Developing demand forecasts for production planning and inventory management.
Working closely with logistics and productions to ensure smooth supply chain processes.
Documenting the progress of present findings.
Also Read: Top 6 Career Paths in Business Analytics Management for 2024
Business analysts possess numerous skills and expertise. An MBA in business analytics equips you with exceptional capabilities for every business organisation. Whether you work in IT, finance, or logistics, they can bring a blend of all. With great domain knowledge and unique problem-solving skills, they remain in high demand among recruiters. Here are the top recruiters who hire MBA in Business Analytics grads in bulk.
Accenture
Tata Consultancy Services (TCS)
Cognizant
Deloitte
IBM
Capgemini
Wipro
Amazon
Infosys
JPMorgan Chase
Dell Technologies
Tech Mahindra
American Express
Axis Bank
We live in a world where data reigns supreme. However, you might need not to say, Your Majesty. However, we need to work as per the data trends commands. In this scenario, an MBA in business analytics can become a platinum ticket for a thriving career. Whether you want to be a supply chain wizard or a ruling data analyst, the opportunities in this specialisation are limitless. So, have you decided to dive into a data-driven solution? Are you ready to shape the future of business? Then, choose your desired career path with an MBA in business analytics and get on with it now!
Also Read: The Top Colleges for MBA in Business Analytics in India
