Business Analytics

A Simple Guide to Career in Business Analytics

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Digitization is everywhere around us. Ranging from the biggest tech companies around the globe to the local grocery store in the streets, the internet has made its impact on people’s lives. Moreover, the data generated from the internet is the bread and butter of businesses across every sector.

In a time frame when Google is the solution to every question we go through, how many of you have ever wondered who analyses and segregates such vast amounts of data that are exchanged every day over the internet?

If you don’t, this is the place you will get answers in. The short answer is Business Analyst. For the long answer, consider reading on.

On a rather interesting note, the internet gets flooded with hundreds of terabytes of data via the 6 billion connected devices connected to it every hour. Since every piece of data over the internet is valuable to generate possible business, analysts sift through tons of metric data to analyze and extract meaningful insights.

A Career in Business Analytics is the next big thing!

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Career in Business Analytics

Why Business Analytics

If you look closely at these words – “with the skills to understand and make decisions based on the analysis of big data” – you’ll understand that the Business Analytics industry is as big as the internet itself.

The Business Analyst’s future scope is a very attractive world in itself. With its reach as vast as the data present over the internet, there is a need for several data analysts and machine learning experts to run through data and numbers.

If you plot a word cloud of all the articles related to analytics, you will see all kinds of words popping up, including statistics, computer programming, strategy, planning, reporting, etc.

Talking about the scope of Business Analytics, it is a vast and extremely diverse skill with the most number of job placements worldwide. Therefore, a career in Business Analytics can be a vast idea in itself as it offers limitless possible options.

A Career in Business Analytics

Having a career in Business Analytics means your first and foremost job is to refine the data. These data are collected from over a specific area of the internet and you have come up with critical insights to ensure the information is solid and helps in making rightful decisions in expanding business.

Your Business Analytics skills should also favor you in upper-management and stakeholder policies.

Naming a few roles of a Business Analyst would be an injustice to the profession. So instead, your Business Analytics skills can land you in a very strategy-oriented role or can also make you a part of a specialized deep learning scientist, depending on your understanding of business and analysis.

Related: What Does a Business Analyst Do? Their Roles & Responsibilities

Is Analytics a Good Career?

Considering the limitless opportunity it provides, the Business Analyst’s future scope is definitely bright. The industry has a huge demand for analytics, but the supply side is very weak and fails to keep up with it. This creates a huge opportunity for a demanding career.

As per reports by EMC Digital Universe Study, 1.7 MB of new data will be created every second for every human being on Earth by the year 2020. Also, a 2017 McKinsey report stated that the US would face a shortage of about 1.9 million data scientists and analysts in the next two years, making a huge opportunity for Business Analytics jobs in the USA.

This means this is the right time for many individuals to seek a career in Business Analytics.

You may also like to read: Scope of Business Analytics In India | Business Analytics Future

How to Start A Career In Business Analytics?

The Business Analyst’s future scope is vast. So, to begin a career in Business Analytics, you don’t have to be an expert in the field of statistics or computer programming. Instead, you can start at a basic level. Interestingly, it is even suitable for candidates from a non-technical background.

You have to stay consistent at forecasting analysis that lays a direct impact on the organization’s decision-making and improves its market share.

Business Analytics Career Opportunities

The possibilities of a Business Analytics career path are vast and limitless. You could be a part of either of the jobs as listed below:

  • Data Analyst
  • Analytics Consultant
  • Data Visualization Analyst
  • Business Intelligence Consultant
  • Customer Insights Analyst
  • Sales Analyst
  • Marketing Analyst
  • Analytics Metrics Associate
  • Analytics Specialist Database Administrator
  • Financial Analyst
  • Fraud Analyst
  • Statistical Analyst
  • Data Scientist

Even after this, the opportunities are enormous in this field.

MS in Business Analytics Scope

Pursuing a Master’s in Business Analytics career is like adding a cherry on the cake. The scope for an MS are huge, some of which are:

  • Data Scientist
  • Analytics Consultant
  • Pricing and Revenue Analyst
  • Operations Research Analyst
  • Business Intelligence Specialist

The other professions for Masters of Business Analyst include Market Research Analyst, Management Consulting Analyst, and Big Data Analytics Specialist to name a few.

MS in Business Analytics Scope

Key Takeaway

Yes, this might not be the kind of work that everyone would like to pursue as it has its own rational thinking. However, considering the promising positions a career as a business analyst has to offer, it indeed is one of the most promising jobs to look after.

At the dawn of the 21st century, when the internet is the medium that runs almost every essential operation and simplifies the way we live our lives, data analysts are surely someone we directly/ in-directly rely on to experience a better internet. Interestingly, Business Analytics is also considered as one of the best jobs in the world by Harvard!

FAQs – Frequently Asked Questions

Q1. Is Business Analytics a good career?

If you are an analytical thinker who is actually impressive at it, Business Analytics might just be the right job for you.

You may also like to read: Why is Business Analytics a Good Career Option?

Q2. How do I get a job in Business Analytics?

You don’t need to be an industry expert to get a job as a Business Analyst. These days every firm needs one to improve its operations. You just need to have the proper approach at it.

Read more on this: How to Become a Business Analytics Professional? Salary, Skills, Courses

Q3. What can you do with Business Analytics?

The opportunities are endless and the field itself is limitless. Considering the job roles you can land yourself in, you can get a vast option in the field.

Read more on this: Types of Business Analytics – Types of Analytics With Examples

Q4. Why should you consider a career in Business Analytics?

Before you come across such a question again, ask yourself about the presence of the internet and when do you think people would stop using it. The amount of data this generates and the values that organizations and businesses derive from it are immense — no wonder this provides exciting opportunities for skilled professionals to work with top Data Analytics companies.

For the curious souls who still have something more to ask, please reach out in the comment section below. Happy to help if you are interested in beginning your journey with one of the best Business Analytics Courses.

You may also like to read:

1. Best Ways to Learn Business Analytics | Courses & Free Resources

2. Data Science Vs. Business Analytics; Do You Know the Difference?

3. What is an IT Business Analyst? | Roles, Skills, and Salary

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