Organizations are growing and evolving at a rapid pace and data is becoming an ever-changing commodity. The success of a company is now heavily dependent on many factors, and learning Business Analytics is one of the most prominent factors amongst them.
Business Intelligence has always been a primal requirement for businesses to keep growing. Learning about the various strata of business intelligence is the key to a successful tenure as a business. However, the question remains – ‘where to start?’
To relieve you from the dilemma, we have compiled all the important aspects related to learning business analytics.
Introduction to Business Analytics & Significance of Learning it
Business analytics is a phenomenon that occurs when business intelligence is combined with data analytics on a data set related to future business plans and strategies. In simple words, business analytics is a branch of management where you can analyze and explore data that you have in your hand. You need to have a proper insight into the plans related to those data and use it to execute future business goals and strategies.
You can learn more about business analytics via various online courses, some of the most popular ones are offered by AnalytixLabs. These courses mainly revolve around:
- Computer-based models
- Quantitative methods models
- Statistical analysis
- Information technology
- Data studying and analysis
You can figure out possible business-related scenarios and can make profitable decisions based on those details with the help of a business analytics study. There are 3 ways to learn business analytics:
- Descriptive – This method involves the use of historical data and by interpreting it you can easily recognize the patterns and trends.
- Predictive – It is more of a predictive and forecasting aspect, which you can also attain with the help of data and statistics to predict future outcomes.
- Prescriptive – This involves testing and application of different techniques with which you can determine which outcome will give you the best result.
As per a report shared by the Bureau of Labor Statistics, it is predicted that project operations research-based analyst jobs will see a minimal spike of at least 27% by 2026. Even though many industries used to think business analytics is the underdog, the current data-driven approach by a majority of companies is seeing an upward jump in the charts.
So, with business analytics courses online from AnalytixLabs, you can avail a few benefits like:
Enhanced Operational Efficiency
If you think business analytics is only good for improving financial gains, you may be mistaken. This subject has a wide application range, which includes gaining operational prowesses like:
- Human-resource management
- Supply-chain management
- Financial management
- Customer relationship management
In a nutshell, business analytics courses from AnalytixLabs can help you fine-tune various business operations. In fact, a report presented by KPMG highlighted the emerging trends in infrastructure, which concludes how most profit-making firms are opting for predictive analytics to contemplate the possibilities of operational issues and their maintenance.
Attaining Detailed Insight through Data Visualization
Business analytics courses online from AnalytixLabs will help you understand how to figure out market trends with the help of visual data.
Quickly Making Smart Decisions
Real-time and fast-paced analysis is the primary requirement of every company. Business Analytics will help you get hold of an effective decision-making process with which you can make careful and informed decisions through proper analytics.
Generate High Revenue
A research report by McKinsey highlighted the fact that a company that invests in business analytics and big data yield at least 6% more profit. If you calculate as per the study report, the profit yield percentage in an average is 9% within 5 years.
If you again see the statics shared by BARC, data report created with the help of data analysis face:
- 10% less reduction in cost
- 8% more revenue
List of Courses to Learn Business Analytics
Business analytics courses come under executive/part-time/full-time MBA programs. If you are a working professional, you can also opt for any among offline and online certification courses. Moreover, you can pursue the course at MBA/PGDM level if you want to get further in the domain.
The general program period for a full-time course is 2 years, though the comprehensive Business Analytics course from AnalytixLabs can offer you tremendous expertise while not spanning over two years’ tenure. During the course study, you can learn about:
- The roles and responsibilities of a Business Analyst
- Methods of Using analytical skills in different industries and domains
- Ways to analyze complex business problems with the help of advanced statistical tools
- Developing skills on Cognitive, Prescriptive, Predictive and Descriptive analytics
Free Resources to learn Business analytics
Despite being a very lucrative career option, there are still a lot of ways that would help you learn business analytics without investing a lot of money. All you would need to do is a little research.
Some of the free business analytics online course resources include:
- Business Analytics Fundamentals from edx.org
- Business Analytics from Udacity
- Improve your Statistical Question from Coursera
- Data modeling and Regression analysis from Coursera
- Business Analytics uses data for financial industry From Udemy
- GIS, Mapping and Spatial Analysis from Coursera
- Advanced Business Analytics from Coursera
- Strategic business analytics specialization from Coursera
- Introduction to business analytics from an online crash course for beginners
Syllabus & Topics for Business Analytics
The Business Analytics program teaches general management topics and MBA’s curriculum, which includes the theoretical and practical study of subjects like Business Intelligence, Statistical Analysis, etc. As the course is divided into 4 semesters, the syllabus and topics are divided as per the semester.
Among the popular online courses on Business Analytics, AnalytixLabs should be the first mention. It offers two types of courses, both for people looking to get into the field as well as the ones who are looking to expand their knowledge. The beginner course is ‘Analytics Edge’, while the higher-level course is ‘Business Analytics 360’.
Let us take the course outline of Business Analytics 360 into consideration.
|Data Visualization & Analytics|
|Data Manipulation using Functions|
|Data Analysis & Reporting|
|Data Visualization in Excel|
|Comprehensive Study W/ SQL|
|Analytics & Data Science using R|
|Exploratory Data Analysis|
|Advanced Analytics & Machine Learning|
|Python for Data Analytics|
|Operation with Numerical Python|
|Machine Learning with Python|
|Basics of Time Series|
|Evaluation of Forecasting|
|Fees||The fees related to Business Analytics studies usually depend on the college and approximately between ₹ 5 lakhs and ₹ 15 lakhs per year. However, with Business Analytics 360, you can get a comprehensive course at less than 10% the cost.|
|Expected Average Salary||from ₹ 8 lakhs to ₹ 18 lakhs per year|
|Expected Job Positions||Market Research Analyst, Project Manager, Quantitative Analyst, Predictive Modeller, Statistician, Data Scientist|
|Hiring Companies||American Express, Tata Consultancy Services, Cognizant, IBM, HP, Accenture|
|Hiring Industries||Gaming, Social Media, Oil and Gas, Healthcare, Manufacturing, Retail, Financial Services|
Here is an example of the top 3 Business Analytics in India where you can learn about this subject.
As you have already seen how lucrative the package comes with mastered Business Analytics, here is another chart highlighting the salary trends that you can score with the subject.
Frequently Asked Questions
How can I learn business analytics?
There are many ways to answer the question ‘how to learn business analytics?’ A few of such ways include:
- YouTube tutorials (to learn the basics)
- Advanced courses
What are the subjects in business analytics?
You need to have a specialization in a few subjects to attain a specialization in business analytics. Some of these subjects are:
- Operations Analytics
- Accounting Analytics
- Customer Analytics
- Business Analytics Capstone
- People analytics
- Artificial intelligence
- Decision analysis
- Computer simulation
- Advanced analytics
Is a business analyst a good career?
Yes, it is indeed a good career. As per the Harvard Business Review, Business Analytics is the “Sexiest Job of the 21st Century”. Since business analytics is used by various industries, it has opened a plethora of opportunities in various professional sectors like:
The career options that you can choose from by learning business analysis are:
- Data Visualization Analyst
- Data Scientist
- Retail Sales Analyst
- Fraud Analyst
- Specialist Database Administrator
- Analytics Associate Analytics and Metrics
- Business Intelligence and Analytics Consultant
- Marketing Analytics Manager
- Financial Analyst
- Big Data Engineer
- Big Data Analytics Architect
Does business analytics require coding?
Yes, coding is required during the learning process of business analytics. However, minimal proficiency is enough to get a head start. It comes under the basics of business analytics. You should have proper knowledge of using tools, like SQL and R, as both of these are a necessary requirement to achieve a career in analytics.
A few career tracks that use coding in business analytics are:
- Statistician – R or SQL (P2+) coding
- Data Scientist – P3+ coding
- Data Visualization Analyst – SQL (P1 or P2) coding
- Business Analyst – Initially, SQL (P1 or P2) coding but can increase to P2+ as per role development.
- Data Engineer – P3+ coding
*(Proficiency level – lowest P1, highest P5)
We hope that the above information would suffice your queries on how to learn business analytics. So, you should consider enrolling yourself for a relevant course to make use of the wide prospects of the career. If you want a complete and comprehensive course at a very small fee, consider AnalytixLabs offerings.