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Business Data Analytics

Do you like working with data and numbers? Do you like businesses? Do you want to solve business problems by doing data analysis? If yes, you should explore the career path of business analytics. 

 

Business Analytics is a combination of data analytics and business intelligence. It is a process that enables the business analyst to make data-driven decisions to improve business performance. Business analytics helps a company make better decisions by a clear understanding of reality.

 

Organizations use business data analytics  to 

 

  • Reduce costs,
  • Getting into a new market,
  • Tapping a different demographic,
  • Gauging the effectiveness of a marketing campaign,
  • Launching a new product or service etc

 

 

Example: Based on historical data of hotel bookings, the company wants to predict how many hotel bookings they can make in the next month?

 

“Companies that use analytics are five times more likely to make faster decisions.” (BetterBuys.com)

What are the roles and responsibilities for Business Data Analyst?

  • Business analytics helps organizations harness and use data to plan business strategies, improve operational efficiency, identify new opportunities and generate higher profits.
  • Identify and analyze industry or geographic trends with business strategy implications.
  • Analyze technology trends to identify markets for future product development or to improve sales of existing products.
  • Adapt statistical methods to solve business problems.
  • Develop software applications or programming to use for statistical modelling and visual analysis.
  • Develop and test experimental designs, sampling techniques, and analytical methods.
  • Prepare data for processing by organizing information, checking for inaccuracies, and adjusting and weighting the raw data. 
  • Business analysts process large amounts of data for statistical modelling and visual analysis, using computers. 
  • Evaluate the statistical methods and procedures used to obtain data to ensure validity, applicability, efficiency, and accuracy. 

What are the key skills required for Business Data Analytics?

  • Analytic problem solving
  • Understanding of statistical methods
  • Data Analysis
  • Problem Solving
  • R
  • SAS
  • Tableau Software
  • SQL
  • Excel
  • SQL

What are the career opportunities in Business Data Analytics?

  • Budget Analyst
  • Business Analyst
  • Data Analyst
  • Data Scientist
  • Data analyst
  • Management Analyst
  • Marketing Research Executive
  • Marketing analyst
  • Operations Research Analysts
  • Project Manager
  • Sustainability Specialist

What is the salary and demand for Business Data Analyst?

  • Demand is High for Business Data Analytics.
  • Salary levels are High for Business Data Analytics. For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Medium. To pursue this course student need to spend 3 to 4 Lakhs.
  • Level of preparation for Business Data Analytics is Medium. Students spend 1 Year. to prepare for entrance test of Business Data Analytics.

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