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Technology has crept into almost every sector of the global economy in today’s technology-driven era. The business sector is no exception to it. The technological intervention has drastically changed the face of the business world, leading to the emergence of endless career avenues for aspirants to explore. A vital component of this change is Business Analytics. This field coupled with several start-ups and new businesses emerging in the market has brought about a revolution in the business world. But what exactly is Business Analytics? How has it changed the business scenario around the world? And most importantly, how can aspirants get into this field and build a successful career in it? Let’s delve into the blog and find answers to all these questions!
We often come across the words ‘Big Data’, ‘Data mining’, ‘Data analytics’, etc. But did you know their significance in the current market? 2.5 quintillion bytes of data is generated globally each day! Be it our casual internet surfing, internet browsing, social media usage, products and services that we search for on the internet, our internet banking transactions, and our online buying patterns all culminate into generating this massive amount of data that’s used to grow businesses, enhance business potential, and improve the products and services that are provided. That’s precisely the reason why corporate giants, as well as small businesses tend to invest an unimaginable sum of money to procure this data. We will explore the benefits of this data in detail further.
Business Analytics uses methodologies like data gathering, data mining, and data analytics including predictive and statistical analysis to gather, organize, and analyze data and make constructive use of it in various business operations. These applications include identifying emerging trends, predicting potential risks, enhancing the existing products and services, and making smart business decisions that will result in growth. In simple words, business analytics with the help of technology uses the collected data and uses it for the growth of businesses through accurate business insights, and current market information.
Consider these two scenarios, a young businessman has an incredible business idea that he wishes to convert into a start-up venture. The chances of his venture being successful are extremely low if he isn’t equipped with the relevant information related to the current market scenario, his potential customers, their buying patterns, the existing market risks, the demand for his products or services, etc. But if he implements Business Analytics into his venture, he will have a better picture of the market scenario and will be prepared for all the situations or problems that he might encounter in the market. So, here we can see how Business Analytics helped this start-up venture and improved its chances of success.
Now consider a second example. A well-established footwear company implements Business Analytics in its operation. With its help, the company can now identify and categorize its customers based on the age, gender, location, purchase history, buying pattern, etc. and determine what products and services work the best. It can also boost sales of products that are most popular through offers and planned strategies. In both the above scenarios we saw how Business Analytics has many applications in both well-established and big businesses as well as start-ups and relatively new businesses. Now let’s find out how you can get into this field of Business Analytics.
Both business and technology are two of the most flourishing fields in the global market. Business Analytics being their intersection opens doors to endless career opportunities for both job-seekers and providers. If you want to explore this emerging field and build a successful career in it, the first step is seeking a BBA degree in Business Analytics. This degree trains you to carry thorough market research and understand the current market scenario accurately. It equips you to help organizations by solving their business-related queries efficiently. You will be able to analyze the past mistakes of the organization, its performance and predict potential risks and suggest changes. You can also plan effective business growth strategies and help the organization make accurate business decisions. Lastly, you can analyze the business performance and profits and prepare reports tracking this progress.
With such diverse applications, this degree opens up several career avenues for aspirants to explore. This in turn leads to a lucrative and successful career.
Students of BBA in Business Analytics need to have the following skills:
Top 5 advantages of choosing a BBA in Business Analytics program.
The global market is extremely fertile for BBA Business Analytics graduates. Particularly in India, with more and more start-ups coming into being each day and the growing technological efficiency and infrastructure, the demand for BBA graduates has grown exponentially in the past couple of decades. This field technically helps change the face of an entire organization and set it on the path of success. The vitality of this field is also highlighted by the fact that it helps companies cut down around 20-30% of cost while increasing their profits in similar measures.
Hence, BBA Business Analytics graduates have an endless scope and high demand in the global market. Here are the top 5 career options that you can consider after this degree:
Today’s business world is driven by Big Data and technology. As we have seen earlier, business organizations from across the globe are chasing an insane amount of data to increase efficiency, productivity, profits and reduce risks, and unforeseen situations. For this, there’s a constantly rising demand for graduates with a degree in BBA in Business Analytics. So, if you want to explore a magnitude of career opportunities in this emerging field, register now for a BBA in Business Analytics program.
Birla School of Management (BSoM), Birla Global University offers a three-year full-time professional BBA Degree in Business Analytics. The program spreads over six semesters in three academic years. This specialization not only provides a thorough grounding in areas of analytics, modeling, predictive analytics, and quantitative techniques but also in liberal studies to provide insights into human and organization dynamics. Lab sessions are also included in this program. Following are the key features of this program:
Explore the many benefits of having a career in the emerging field of Business Analytics with a BBA in Business Analytics degree. We welcome you to join BGU and experience a reformative education that will render a successful career. For more details visit our website: https://www.bgu.ac.in/
