What is Business Analytics (BA)?
Data-driven companies use business analytics to statistically analyze an organization’s data. Business analytics is related to the exploration of an organization’s data methodically. The companies always try their best to find ways to use their data as best as they can. With the help of expert analysts and other members, they always try to use their data for the improvement of their business.
How does business analytics help in business growth?
There are several types of analysis methods that come under business analytics. The method of analysis depends upon for what purpose it is needed. To extract data for a particular purpose data analysts use data from one or more business systems and then filter it with the help of specially designed software and tools. After attaining the part of data required, the analyst will then analyze it and make a report which later helps companies to achieve their desired goals.
What is the scope for business analysts in India?
With the rapid growth of technology and the IT sector in India the need of business analysts also at its peak. It’s not an easy job and requires expertise in mathematics and engineering and also requires good communication and analytical skills. However, if you had any kind of background with business studies then you can also upgrade your skills a bit and can become a business analyst. There are institutes everywhere which can provide you the knowledge you needed. And by any chance, if you are from Mumbai then there is a significant institute, ExcelR. They can provide you with the best Data analytics courses in Mumbai and great support for your placement.
In mostly every sector from financial institutions, consultancies to online store leaders like Amazon, Flipkart every leading company nowadays requires professional business analysts. Also, the pay scale for a senior business analyst is about ₹859,025 per year and the average salary of a business analyst is about ₹644,857 which is quite impressive.
There is a continuous demand for business analysts in India in almost every sector but some of the major sectors are manufacturing, hospitality, banking, retail, and healthcare. In India, there are around 1.2 million business analysts working and my 2020 maybe India will have the highest number of business analysts. In India candidates with an MBA degree can also land jobs in IT and ITES industries which means they can apply for business analysts too.