Is a business analytics course for professionals or businesses? Find answers to 10 important questions

Various short-term and degree programmes are available in the online and offline domains. To get a better understanding of this course, here are 10 important questions answered.

The course is not just relevant for employees but also for individuals running businesses to understand the data their business network runs on. (Representative image)

Data-driven companies treat their data as a business asset and actively look for ways to turn it into a competitive advantage. Almost all companies deal with some form of data and thus generate an unceasing demand for business analysts.

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The course is not just relevant for employees but also for individuals running businesses to understand the data their business network runs on. Various short-term and degree programmes are available in the online and offline domains. To get a better understanding of this course, here are 10 important questions answered.

Q: Who is eligible for the business analytics course?

Analytics is a study choice open to any graduate or working professional, provided they have an interest in the topic and understand its deeper implications in their own field. Many assume analytics provides 100 per cent accuracy and output, but sadly it doesn’t. Analytics is a route where major business decisions can be bettered, major risks can be averted and leadership sustained.

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Q: Does business analytics need prior knowledge of math or computer science?

Not necessarily, but as the bottom line, students or professionals need scientific thinking and approach with a very fundamental understanding of Math (not advanced) education. The reason why I stress this is every business move and financial decision in organizations revolve around quantitative analyses. To take my opinion forward, you need an evidenced-based approach more than a normative or opinion-based perspective to drive financial decisions and analytics is nevertheless an undisputed choice to achieve that goal.

Q: What is the course structure for a business analytics programme?

To start with, the course can be designed on the below key areas where learners gain a learning edge and expanding employability scope.

● Terminologies

● Classifying datasets

● Understanding good and bad data

● Statistical Variations

● Big Data Analytics

● Sampling Techniques

● Tabular & Graphical Presentation

● Statistical Data Analysis

● Data visualization techniques

● Prescriptive & Predictive Analytics

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Q: What is the core difference between a certificate programme in business analytics and a master’s degree? Who should pursue each?

It depends on the interest and commitment level of the learner/professional. If one wants to specialize and dig deeper into the field of analytics, then I suggest a programme can be an appropriate choice. But if he/she wants to add the skill for career progression, then a certification in Analytics can be an ideal choice which is more short-term and less expensive.

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Q: Which is better – a degree in business analytics or MBA?

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Each has its value and strength in its own way. Moreover, both courses are dependent on each other, or to better put it, they overlap. Analytics comes into the picture in the context of a business problem or it may be the other way around. In today’s context, we see data as the fuel to drive business success and performance. To crack the code, both MBA and Analytics are quantitative subjects and are intertwined, so pursuing both can be a massive advantage in a digitally native competitive business environment.

Q: What are the career options after pursuing business analytics?

After pursuing this programme, one can join the corporate sector as a business analyst, data specialist, HR manager, financial analyst, risk manager, supply chain analyst, marketing analyst, chief data officer, chief technology officer, project manager, and information security analyst among others.

Q: What is the average salary package for Business Analytics graduates?

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As the business analytics course has under its cover key and specialized roles, the average median salary is over 6 to 10 LPA and above depending on the experience.

Q: How is the BA course offered online different from the ones offered by recognised institutes like IITs and IIMs?

The advantages of earning a Business Analytics degree from a recognised university are more compared to online platforms as they are more established & trusted for their academic excellence in industrial circles. Secondly, universities like IIT or IIM have a rigorous industry-focused curriculum and experts to guide you on career choices and industry trends. Moreover, placement support & alumni engagement in the university can expand your network. Considering all these massive prospects, I feel online courses are more designed to cater to students/professionals under commitment and who want to upgrade their career positions at a shorter time span with a minimum investment.

Q: Online platforms offer free BA courses. How valid are these courses for a professional career?

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The business Analytics course requires immense focus and effort. Taking up online business analytics courses as it is a translator between business and technology. Though technologies are plenty and accessible, familiarity and intelligence are still limited. Technical skills are more easily to pick up online but when it is applied to a particular company or business context, most business analysts face a big challenge. This is one of the key reasons why universities take a lead by giving learners industry exposure through case studies and internship opportunities to gain both theoretical and practical advantages in one go more than online platforms that have a selective curriculum, time, and penny-crunching model for fast-forward professionals.

Q: What is the course fee for BA certificate programmes and a PG degree?

The average course fee for Business Analytics and allied PG degree comes to around Rs 1 to 10 lakh.

(The questions were answered by Varun Jain, CEO & Co-Founder of Miles Education)