Answers to Frequently Asked Questions about MBA in Business Analytics & Optimisation
An MBA in Business Analytics and Optimisation can really be the challenging and relevant career you have been looking for. Since business analytics and optimisation is used in nearly all fields and industries, there is a massive need for qualified professionals who can be employed in this capacity. If you are still confused about whether an MBA in Business Analytics & Optimisation is your cup of tea, here are some frequently asked questions about this branch of MBA finally answered for you:
- What is Business Analytics & Optimisation?
Business analytics is the process of studying the data generated in the past workings of a business, analysing it, and implementing optimisation tools to use the extracted information for the betterment of the business. This technique can also be used on data derived from various external sources to help the business flourish.
- What is the scope of an MBA in Business Analytics?
An MBA in Business Analytics teaches you to interpret attained data and transform it into viable information which will then influence short and long term business decisions. This is why business analytics is relevant to almost all businesses, generating a vast scope for professionals holding an MBA in Business Analytics.
- What can I do with a Masters in Business Analytics?
There are a number of job opportunities available for you once you acquire a Masters in Business Analytics. You can be employed as a data scientist, data analyst, quantitative analyst, business analyst, management analyst, operations research analyst, mathematician, or a statistician, to name a few professions.
- Is Business Analytics is a good career option?
In terms of salary growth, business analytics is one of the most challenging career options out there. As businesses are implementing newer technologies and expanding themselves globally, there is a growing requirement for qualified business analytics professionals to integrate themselves into the industry and help businesses grow.
- What is the average salary someone holding an MBA in Business Analytics earns?
The average salary a fresh graduate holding an MBA in Business Analytics can be anywhere between Rs. 4.5 to 7.5 lakhs per year, depending on the firm hiring the candidate and the candidate’s capabilities. After about 8-10 years of experience, the average salary can be anywhere between Rs. 12 lakhs to 15 lakhs per year.
- How do I start a career in Business Analysis?
Firstly, you must do some background research about business analysis and decide which career path suits you best. After that you must gain a Bachelors followed by a Masters degree in Business Analysis from a reputed college in India. Try to secure a job through the placement drives held by your college. Besides this, try to inculcate useful IT skills to spruce up your resume and gain a kick start in the job market.
- What are the three main components of Business Analysis?
- Data: Data is required to make predictions about current and future trends in any business. Qualified business analysts are able to conduct predictive analysis on the right kind of data available to them.
- Statistics: Statistics or regression analysis is an important component of business analysis. This method is used to understand customer behaviour to find an underlying correlation in a customer’s habits.
- Assumptions: Predictive analysis helps make accurate assumptions about future customer behaviour based on current data and analysis. It is vital to check and verify your assumptions to ensure the longevity of a business.
- Which Business Analysis courses does Sandip University offer?
Sandip University is one of the best management colleges located in Nashik, Maharashtra. Sandip University’s MBA in Business Analytics and Optimisation is a groundbreaking, industry-oriented course. The course curriculum is designed by the University’s revered faculty members in collaboration with experts from the industry to ensure each student’s employability. Sandip University hosts a number of independent workshops, seminars, guest lectures, field trips, industry visits and many such activities that are guaranteed to boost a student’s overall development.
Each course offered at Sandip University is the unique blend of theoretical knowledge and practical skills. Students are made aware about the current and futuristic trends that are prevalent in the market so that they are job ready for a field like business analytics. Sandip University provides students with excellent facilities that helps enhance their student experience. Sandip University provides 100% placement assistance to all students through annual placement drives.
Turn your dreams and goals into a thriving lifelong career through Sandip University. Visit www.sandipuniversity.edu.in for more information.