Supercharge Your Career With an MBA (Business Analytics) in Association With IBM From Chandigarh University!

Have you ever noticed how businesses like Amazon, Apple, Microsoft, and more are capable of making impactful decisions and market strategies regarding their business operations? Well, this is where professional business analysts come in handy. In layman's language, we can say that business analysts play a vital role in the success of a business. They are responsible for understanding the evolving needs of an organization. Also, they work on identifying business challenges and work on their solutions.

In this article, we will discuss all the essential aspects of business analytics, from the overview of business analytics to the types and benefits of business analytics. Also, we will discuss why you should pursue an MBA (Business Analytics) in association with IBM from Chandigarh University.

Business Analytics — Overview

In today's competitive marketplace, business analytics is a groundbreaking tool that can be used to make important business decisions and craft essential business strategies. In today's data-oriented market, almost all organizations generate vast amounts of data to achieve their desired targets. These efforts of businesses highlight the rising demand for professionals who are data literate and know how to interpret and analyze that information.

According to a MicroStrategy study report, worldwide businesses are using data for the following reasons -

1. Firstly, 64% of firms use data to improve their business efficiency and productivity.

1. Secondly, 56% of corporations use data to achieve their goals of making more effective decision-making.

1. Thirdly, 51% of companies use data to drive better financial performance.

Furthermore, the research also demonstrates that 65% of global businesses plan to expand analytics spending. After reading these market trends, gaining an in-depth knowledge of business analytics can help you captivate your career and make better decisions in the workplace. Before analyzing the advantages of business analytics, it’s important to understand what the term “Business Analytics” means.

What Is Business Analytics?

In simple words, business analytics can be defined as the methodology of using quantitative strategies to emanate meaning from data to make informed business decisions. The following are the four primary methods of business analysis:

• Descriptive: The understanding of historical data to determine trends and patterns.
• Diagnostic: The understanding of historical data to determine why something has happened.
• Predictive: The usage of statistics to predict future results.
• Prescriptive: The application of testing and other techniques to examine which outcome will yield the best result in a given scenario.

Therefore, you can utilize these business analytics types to examine your past business efforts. Also, you can use these types to boost the future performance of your business. Now, let's have a look at the difference between business analytics and data science.

Difference Between Business Analytics & Data Science | Benefits of Business Analytics

Before we enlighten business analytics, do you know how it is different from data science? Both, business analytics and data science, examine data to crack business problems.

The key difference between business analytics and data science lies in the usage of data in both processes. First of all, if we talk about business analytics, it is concerned with extracting meaningful insights from and visualizing data to streamline the decision-making process.

On the other hand, data science is concentrated on making sense of raw data using algorithms, statistical models, and computer programming. Apart from this, if we talk about the benefits of Business Analytics, it helps businesses with more informed decision-making, greater revenue, and improved operational efficiency.

Masters of Business Administration (Business Analytics) in association with IBM at Chandigarh University — Overview & Job Opportunities!

Chandigarh University offers an MBA (Business Analytics) in association with IBM program — designed to build deep competency in the skills needed to implement and oversee data-driven business decisions, including collecting, managing, and describing datasets, forming inferences and predictions from data, and making optimal and robust decisions.

Apart from this, if we talk about the future scope of MBA (Business Analytics) in association with IBM program, it unlocks various job roles, such as Data Scientist, Hadoop Developer, Business Intelligence Analyst, Cognos Report Developer, Advanced Analytics Analyst, Business Intelligence Analyst, System Analyst, Cost Analyst, Market Research Analyst, Big Data Software Architect, Data Visualization Analyst, Information Security Analyst, and more.

Conclusion

Do you want to capitalize on the need for data-minded professionals? Enrolling in the MBA (Business Analytics) in association with the IBM program at Chandigarh University, India's No.1 Private University, can help you lay the foundation of a captivating career in this field. Register via CUCET and get up to 100% scholarship worth ₹170 crore. Admissions Open! Apply Now!

Note: The views expressed in this article are of Chandigarh University and do not reflect/represent those of Shiksha