The world today is data-driven and having the right information is very important when making strategic decisions. This is why across industries in the Indian market, there is a demand for professionals who are skilled in both business management and data analytics. This demand can be met by professionals who have an MBA in business analytics. If you are considering doing an MBA this year, this article is a guide for you. From what is MBA in Business Analytics and Its scope and salary, we have covered all relevant points. 

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What Is An MBA In Business Analytics?

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We all know what an MBA or master’s in business management is; it is a postgraduate degree that equips students with knowledge of how to navigate the business world. An MBA in Business Analytics blends business acumen with analytical skills. The course aims to empower professionals with the knowledge of how to interpret and analyze data for better decision making be it marketing, finance, human resources, or operations. It differs from a traditional MBA as it focuses more on data handling, analytical tools, and methodologies used to solve complex business problems rather than on management theory and strategy. 

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Who Should Consider an MBA in Business Analytics?

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This is a specialization in MBA and is perfect for those who have a keen interest in numbers, problem-solving, and technology. If your academic background is centred around analysing data and using it to predict outcomes, then this MBA can be a good fit for you. If you are already in a similar profession and want to upskill yourselves there is MBA in business analytics for working professionals courses that you can consider. 

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What Are The Subjects Covered Under MBA In Business Analytics?

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The curriculum of an MBA in Business Analytics will differ from institute to institute, but most programmes will include a combination of the following key subjects:

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1: Statistics and Quantitative Analysis 

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These subjects will teach you how to use statistical methods and models to interpret data sets and come to meaningful conclusions.

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2: Data Mining and Predictive Analytics

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This subject is all about how to mine large sets of data to find out the patterns in them which will help to predict future behaviour/outcome. The industries especially where you can use this are retail, banking and healthcare.

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3: Machine Learning and Artificial Intelligence

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Machine learning is a very important part of data analysis, so it will be part of your curriculum. It might not be in detail, but just the basics like basic algorithms and how they are used in business. 

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4: Business Strategy and Decision-Making

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Of course, since this is an MBA course, there will be subjects regarding business strategy and decision-making. You will learn how to apply data insights in creating business strategies and decision-making. 

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5: Data Visualisation and Reporting 

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It is not enough to find relevant data and use it; you also need to present it properly to stakeholders. This subject will teach you just that. 

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6: Big Data Technologies

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Certain platforms are known for handling massive data sets, such as Hadoop, Spark, and others. This subject teaches you how to handle such cloud-based big data platforms. 

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7: Ethics in Data Usage 

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Data privacy is a very big concern among consumers, businesses and other stakeholders. In this subject, you will learn about ethical ways to collect data, how to store it properly as well as how to ethically use it. 

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Top 3 Career Opportunities After MBA In Business Analytics

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Now that you know what an MBA in Business Analytics is, let’s take a look at the most important aspect; jobs after an MBA in Business Analytics. In India, the sectors that are looking for qualified professionals with an MBA in Data Analytics include banking, healthcare, retail, eCommerce, manufacturing and IT. So, what are the job positions you can fulfil with this degree and what are the expected MBA Business Analytics salaries in India? Here are some popular jobs you can apply for after your course: 

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Data Analyst

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The job of a data analyst is to collect, process and analyse data. This is then used by the business he is working in to make data-driven decisions. Coming to salary, it can be ₹6 to ₹10 lakh per annum for freshers to ₹10 to ₹20 lakh per annum for those who did the MBA after working as professionals in related fields. 

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Business Intelligence Analyst

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The job entails analysing the market and industry trends to help the company make informed decisions. The job also includes working with management teams to develop business strategies. Freshers can expect ₹7 to ₹12 lakh per annum salary and as for those who did MBA in Business Analytics for working professionals, you can expect a salary ranging from ₹12 to ₹20 lakh per annum.

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Data Scientist

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The job of a data scientist is to focus on building algorithms and predictive models to solve complex problems. As part of your job, you will work with machine learning and AI, so these need to be your strong points. Among the various roles for MBA in Business Analytics graduates, this is one of the best. Even freshers can earn around ₹8 to ₹15 lakh per annum, while experienced professionals with 10 years of experience can command salaries ranging from ₹15 to ₹25 lakh per annum!

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Conclusion

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MBA in Business Analytics scope in future is one of the best among many MBA options available for interested students. This degree will help you build a career that connects business and technology. India has always been leading in the IT industry, and now the encouragement from the government and a robust economy are driving the younger generation to create startups and entrepreneurial endeavours that cater to our unique market. This is why there will be a great demand for professionals who have both analytical and managerial skills. Hence, if you are good with working with data, love solving complex problems and want to be in a profession that will be in-demand for the coming decade or do, then an MBA in Business Analytics is the best choice for you.