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2022 Roundup: Business Analytics Related Articles

The business analytics market size was approximately worth USD 271.83 billion in 2022 compared to USD 240.56 billion in 2021. As per Fortune Business Insight, the Business Analytics market size is projected to cross USD 655.53 billion by 2029 at a CAGR of 13.4% between 2022 and 2029.  

The popularity of the Internet of Things is the major driver behind this growth. Recently, the adoption of Business Analytics has multiplied among companies across industries. According to Coursera’s “The Job Skills of 2023”, data visualization and analytics are one of the fastest-growing skills. “The urgency for data upskilling—which businesses, educators, and governments must all play a key role in— will continue to grow as traditional human skills, like people management, become more data-driven,” states the Coursera report. 

However, the U.S. Bureau of Labor Statistics (BLS) does keep track of job classifications that fit within the broader definition of business analysis, such as Management Analysts, Financial Analysts, Market Research Analysts, Operations Research Analysts, and so on. Some of the long-established categories, such as financial analyst, are predicted to experience modest growth, but emerging technology-related categories, such as management analyst (11%), market research analyst (18%), operations research analyst (25%), and information security analyst (a whopping 31%), can expect much more dramatic growth over the decade ending in 2029. 

As a result, the enrolment has spiked for Business Analytics courses. Through Online Manipal, you can get access to an online MSc in Business Analytics and PGCP in Business Analytics from Manipal Academy of Higher Education (MAHE). Take a look at these following blogs to get insights into the business analytics domain. 

Six reasons why you should pursue a master’s degree in business analytics 

A master’s degree always widens avenues for graduates. A Master’s degree in trending domains like Business Analytics will multiply your opportunities. This blog post will give you some reasons to choose a master’s program in business analytics. Here are the top reasons to pursue a master’s degree in business analytics.

What are Marketing Analytics? Benefits, tools, scope, and careers 

Marketing analytics is a subset of Business Analytics. It only deals with the marketing parts of the product or services. You can learn everything about Marketing Analytics in this article, which includes benefits, scope, careers, salary, and others.  You may like to read more about marketing analytics.

5 ways how business analytics can help your business grow 

Recent studies show that implementing business analytics practices is helping companies to boost their business to the next level. This article discusses five different ways businesses are achieving their goals with business analytics.  Here are the five reasons how business analytics help businesses.

How to become a business analyst? 

Business Analyst is one of the promising job roles in today’s world. From business analytics definition to skill sets, career options and salary, this article has included all information to help aspirants become future-ready business analysts.  Read how you can become a business analyst.

Types of business analyst roles

Professionals in business analytics have multiple job roles to explore. These are futuristic and exciting. In this article, we have collated some of the trending jobs one can choose after completing their Business Analytics program. Here are the types of business analytics roles.

Financial Analyst interview questions you should know 

Financial Analysts are the guardian of financial data, and they generate insights for better managing the finance of any organization. This article aims to help candidates familiarize themselves with commonly asked questions in financial analyst interviews.  Understand financial analyst interview questions and answers.

MBA in business analytics: All you need to know 

Manipal Academy of Higher Education (MAHE) is offering online MBA for working professionals on the Online Manipal platform. Business Analytics is one of the specializations with MAHE’s online MBA. This article gives all the details about the MBA program in Business Analytics.  Know more about the MBA in Business Analytics.

High-paying business analytics jobs 

Business analytics help identify and prioritize organizational functional and technical requirements. After pursuing a degree in business analytics, you can explore high paying job roles like business analyst, data architect, data engineer, analytics manager and more. Here are the high-paying business analytics jobs.

15 key skills and tools business analysts need to succeed 

A Business Analyst must be proficient in various skills and tools to seamlessly perform various tasks. In this blog post, you can read details of 15 key skills and tools that help business analysts in their jobs.  Understand 15 key skills and tools of business analyst.

How can a mechanical engineer become a business analytics professional? 

Anyone can enter the business analytics domain with proper training and education, mechanical engineers are not exceptional. In this article, we talk about how mechanical engineers become business analysts.  This article discusses how mechanical engineer can become a business analyst.

2022 Roundup: Data Science scope, top skills, careers and more

The data science sector is expanding and evolving rapidly. The importance of data and professionals with data skills is rising as technology, big data, and software advance. 

Data scientist positions are expected to rise by 36 percent between 2021 and 2031, according to the US Bureau of Labor Statistics, which is substantially faster than the overall average growth rate of 8 percent. This translates to an increase in employment opportunities of about 48,800 every year. 

Data scientist positions typically pay a basic salary of USD 1,00,910. Academic disciplines related to data science include statistics, mathematics, programming, and project development, and their value is rising as big data is increasingly needed by almost every business. 

At Online Manipal, students can enroll for an online M.Sc. in Data Science from the Manipal Academy of Higher Education (MAHE) or a PGCP in Data Science & Machine Learning from the Manipal Institute of Technology.  

We have published several insightful articles in our blog sections in 2022. Here are the selected 10 articles in data science.  

  1. How can a mechanical engineer become a data science professional? 

Mechanical engineers are perfectly suited to a data science profile because they already have experience collecting and analyzing data for their work on product designs and projects. Factors such as use of computers and programming and mathematics are common between mechanical engineering and data science. Read more to know how a mechanical engineer can become a data science professional.

  1. What is the data science lifecycle? 

A data science lifecycle is defined as the iterative set of data science steps required to deliver a project or analysis. The data science lifecycle involves five key phases- identifying problems & understanding business, data collection, data processing, data analysis, data modelling, and model deployment. Read to know more about data science lifecycle.

  1. Career options after an MBA in Data Science 

Data science is a booming industry and among the most in-demand careers today. Pursuing an MBA in data science helps you explore high paying job roles like data science managers, product analysts, data architects, market research analyst and more. You will also get to work with top companies including Deloitte, Amazon, Accenture among others. You may be interested to know about the career options after an MBA in Data Science.

  1. Top 10 data science companies in India 

Data scientists are in high demand across industries as every organization requires them to make better informed and valuable decisions. As a data scientist, you will get to explore lucrative career options in top companies like Accenture Analytics, Swiggy, GenPact, Tiger Analytics, IMB, Oracle and more. Here are the list of top 10 data science companies in India.

  1. The data science roadmap explained 

Data scientists today are helping businesses effectively comprehend massive amounts of data from various sources and gain insightful information to make informed decisions. There are tons of information in the market regarding data science that is expanding rapidly, but with the right roadmap, you can ace their career. You can read about the data science roadmap.

  1. Data science degree vs data science certification course 

A data science degree helps you explore more career options, internships and build a wider professional network. On the other hand, a certification program is low cost and allows greater flexibility than a degree. However, both open doors to high-paying jobs in this in-demand domain. You may like to understand the difference between data science degrees and data science certificate programs.

  1. MBA Vs MSc in data science 

Pursuing an MBA in data science requires a combination of robust technical knowledge, practical abilities and managerial aspects. An MSc in data science helps aspiring candidates mark their career move in the industry with a data centric. Read to know the difference between an MBA and M.Sc. in Data Science.

  1. Four pillars of data science 

Data science is a constantly evolving field, and it is important to keep up with the latest trends, tools and methods. However, you can’t ignore the four pillars of data science- domain knowledge, math and statistics skills, computer science, communication & visualization. Here are the details of four pillars of data science.  

  1. Rising demand for data science in India 

Data science is a growing field, and the number of job openings is also on the rise. Factors like ease of upskilling, versatility and high paying jobs have further boosted the value of this industry. Read to know more about the rising demand for data science in India.

  1. Data Science Vs Machine Learning: An overview 

Data science is an intriguing area in which unstructured data is cleaned, filtered, and analyzed, with the result being business breakthroughs. Machine Learning is a branch of data science in which tools and techniques are utilized to construct algorithms that allow machines to learn from data through experience. Learn more about the differences between data science and machine learning.

Difference between TAPMI’s offline & online MBA-BKFS program

The Online MBA in Banking and Financial Services (BKFS) offered by T.A. Pai Management Institute (TAPMI) is just as lucrative as the flagship on-campus program. There are several benefits offered in the online mode that cannot be overlooked. The curriculum of the online program is tailored slightly differently from the on-campus one, however the program offered is the same- MBA in BKFS. While the online program is inspired and based on the reception and demand for the on-campus program, the online program has been specially curated to suit working professionals. 

Is TAPMI good for MBA?

Certainly, TAPMI is one of the best institute in India of MBA especially for working professionals. MBA in Banking and Finance is popular for TAPMI MBA courses. You can look for TAPMI student stories and their placement report which shows the strength for TAPMI brand and their course delivery module.

What is TAPMI’s online MBA in BKFS?

T. A Pai Management Institute (TAPMI) has launched the online version of its flagship MBA in Banking and Financial Services (BKFS) program on the Online Manipal website, after 8 years of successful on-campus delivery and 100% placement record.

The two-year program, specially crafted for working professionals in the BFSI sector, aims to provide the necessary tools to advance quickly to managerial ranks and assume leadership roles in the new-age BFSI industry. The program offers four industry-focused electives- banking, analytics for banking and finance, capital markets, and advanced corporate finance to candidates with one or more years of experience to deliver integrated learning.

How is TAPMI’s on-campus MBA-BKFS program delivered?

TAPMI’s on-campus MBA-BKFS program aims for “Value-Creation through Financial Analysis.” Here is a breakdown of the on-campus features that enable students to complete the program efficiently. The program design is based on the MS-Finance program of the US with additional inputs on business management so as to ensure in-depth understanding of business finance decisions.

How is TAPMI’s MBA-BKFS delivered in the online mode?

TAPMI’s online MBA-BKFS program is available on the Online Manipal website. The program equips students with digital transformation in the banking industry, cryptocurrencies and blockchain, and other innovations in the new-age BFSI environment. It has a cutting-edge digital infrastructure, an up-to-date curriculum, and four industry-oriented electives.

During the live lectures of this 2-year degree program, students interact with their peers and learn from TAPMI’s distinguished faculty members, who also teach the on-campus students. Learners will have access to live virtual classrooms, an innovative digital platform, knowledgeable instructors, e-learning material, and case studies as part of this 100% online program. 

After completing the program, learners will be well-equipped to explore managerial and leadership positions in the BFSI sector. They can land high-paying jobs roles in wealth management, investment banking, corporate banking, financial analysis, risk management, fund investment and services, asset management, investor relations, and financial compliance.

Online MBA-BKFS fee structure

The program fee for the introductory batch of TAPMI’s online MBA-BKFS is INR 5,60,000, which is 20% less than the actual program fee of INR 7,00,000.  With Online Manipal, you can avail easy financing options, including possibilities for partial payments and loans with low-interest rates. 

Online MBA-BKFS course curriculum

  • The on-campus curriculum comprises all the elements of the BKFS, including the economic basics of banking and finance. On the other hand, that online is rather crisp, and is specially tailored to suit the needs of working professionals.

The course structures are as follows:

Semester 1Financial Accounting
Corporate Finance – I
Management Accounting
Managerial Economics
Business Statistics
Human Resource Management
Marketing Management
Indian Financial System & Financial Markets
Economic Policy Analysis
Semester 2Financial Statement Analysis – (Accounting Standards)
Macro Economics
Corporate Finance II
Financial Econometrics
Insurance Management
Organizational Behavior
Financial Product Selling
IT In Banking
Storytelling With Data
Strategic Decision Making & Value Creation
Semester 3Fin Techs & Role Of Emerging Technologies In Finance
New Age Banking & Finance
Basket A – Analytics For Banking & Finance*
Semester 4Basket B – Banking*
Basket C – Capital Markets*
Basket D- Advanced Corporate Finance*

The baskets refer to unique combinations of electives. Each student must choose 3 of 4 basket in the second year for 36 credit points. The topics in each basket are as follows.

Basket ABasket B
Analytics & AI In Finance & Banking
Risk Analytics In Finance & Banking
Financial Engineering & Structured Finance
Credit Analytics
Financial Modeling Using Excel & VBA
Data Analysis & Interpretation
Banking Laws & Regulations
Treasury & Asset Liability Management
Fraud Risk Management & Forensic Accounting
International Banking & Foreign Exchange
Credit Analysis & Risk Management
Financing Of International Trade

Basket CBasket D
Financial Derivatives
Global Capital Markets
Fixed Income Securities
Technical Analysis
Market Microstructure
Investment Management
Mergers & Acquisitions
Business Analysis & Valuation
Corporate Restructuring
Behavioral Finance
Private Equity & Venture Capital
Investment Banking & Value Investing

Benefits of pursuing online MBA BKFS through Online Manipal 

TAPMI’s flagship MBA BKSF program available in the online mode helps working professionals complete the program without quitting their jobs. Working professionals can attend the weekend classes and learn at their own pace. 

  • Flexible program design and weekend classes

Instead of letting your schedule dictate how you study, you can plan your studies around it. Working professionals pursuing the degree need not quit their jobs and can balance work and academics.

  • Integrated LMS

The modern learning management system (LMS) at Online Manipal is used to deliver the extensive curriculum for the online MBA program. The LMS allows students to interact with peers and faculty. 

  • Distinguished faculty 

Top-notch academicians with years of expertise help students gain the necessary knowledge and acquire the right skills to become future-ready. 

  • Career-oriented electives

TAPMI’s online MBA in BKFS offers four industry oriented electives- analytics for banking & finance, capital markets, banking & advanced corporate finance.

  • Placement assistance

Online Manipal’s placement cell strives to improve students’ employability levels who are interested in pursuing careers after completing their programs. We maintain a wide network with the top businesses in India, including established businesses and fresh start-ups, to assist these students. We aim to match graduates of our programs with employers seeking the right talent and the right set of career opportunities that align with their career goals. For each job seeker, the placement cell focuses on two key areas.

  • Increased earning potential

Along with expanding your employment options, online MBA programs prepare you for well-paying positions in today’s competitive job market. You will find it simple to land a high-paying job after earning an MBA. 

Conclusion

TAPMI’s online MBA BKFS program opens many doors of opportunities and enhances leadership skills. With TAPMI’s expertise in delivering the program coupled with the hassle-free experience on the Online Manipal platform, you can pursue this flagship course that will help you advance in your career. You can find this program on the Online Manipal platform

Top data modelling tools you must know

Data modeling is creating a data model based on a particular business problem. It involves identifying the entities and relationships that make up a specific problem and deciding how they should be represented in a database. A model can describe any data, including financial information or the contents of a book.

What is data modeling?

Many ask if data modeling is the process of creating a data model for an organization. A data model is a representation of the data in an organization, which usually includes tables and columns that describe the different types of data being stored. Data modeling can help businesses by allowing them to:

  • Be more efficient 
  • Get a clear picture of their information. 
  • Make better decisions 

Want to know more about data analytics tools? Check out our blog on DA tools for more information.

Is data modeling so important?

Data modeling involves creating a conceptual model that describes the structure of your data and how you use it. 

Data modeling lets you think through your application’s requirements before programming. It helps you identify how the system will work and ensure that all the different parts work together correctly. This will save time in the long run because once you have finished building your system, it will do exactly what you want it to do without needing further changes or modifications.

To learn more about the concept, visit our blog on essential tools in data science.

Top 10 data modeling tools

The world of data modeling is a complex one. The tools used to do it can be confusing, and getting lost in the weeds of all the details is easy.

Luckily, we’ve done the grunt work for you and tracked down the top ten data modeling tools on the market today. These best data modeling tools have covered you, from creating diagrams to ensuring your database is up-to-date!

  • Lucidchart

Lucidchart is a web-based diagramming and data modeling tool that allows you to create diagrams and flowcharts and manage and share your work online. It’s intuitive, easy to use, and offers many features that make it an excellent option for creating and organizing diagrams.

Features include:

  1. Drag-and-drop shapes on a canvas to build your diagram quickly. You can even add hyperlinks between objects in your chart so they’ll open up new pages when clicked!
  1. Add text or images to any object in your diagram to make it more visually appealing. You can insert other files, like videos and PDFs, into the app if needed.
  1. Create diagrams in either portrait or landscape orientation, depending on what works best for the project. Fullscreen mode is also available if you want maximum space for working simultaneously with large files or multiple projects!

Want to know about the four pillars of data science, check out our blog on the pillars of data science.

  • Erwin Data Modeler

Erwin Data Modeler is an easy-to-use data modeling tool that allows you to create data models in the form of diagrams, which can then be validated and used to generate SQL code. With Erwin, you can create entity relationship diagrams, decision tables, case study diagrams, entity life cycle diagrams, and many more.

  • DbSchema Pro

DbSchema Pro is a data modeling tool used to create database schema diagrams. It can create charts for any database, including relational, dimensional, and object-oriented databases. It provides various functionalities such as creating entity-relationship diagrams, generating scripts for making tables and views, generating SQL queries for creating tables and views, generating SQL queries from existing database schema diagrams, and reverse engineering existing databases into entity relationship models. 

  • ER/Studio

ER/Studio is an Enterprise Data Architect tool that allows you to create and maintain large data models. It will enable you to create and automatically keep a database schema and an object model with user-defined classes and relationships between them. ER/Studio also provides an object-oriented environment where you can intuitively write queries, reports, and programs.

ER/Studio has a database management system (DBMS) that supports relational databases and the hierarchical database model. You can create tables containing various kinds of data, such as numbers, text strings, or dates. You can also create views which are virtual tables based on existing tables or views.

Want to know the essential skills required to become a data analyst, check out our complete course guide on data analyst skill guide.

  • Archi

Archi is a spatial-free data modeling tool. It is open-source, which means it’s available for anyone to use. Some of its features include:

  1. Architecture

It allows users to model their data in a 3D environment. This allows them to manipulate their data easily and makes it easier for them to visualize what they are working on.

  1. Geographical Information Systems (GIS)

This feature lets users view their models from different perspectives and zoom levels. They can also add layers of information onto their models, such as roads or rivers.

  1. Collaboration

Users can easily import files from other programs, such as Illustrator or Photoshop, into Archi. They can also export files into those programs once they’re working on them in Archi.

  • SQL Database Modeler

SQL Database Modeler is one the best data modeling tools for building database models. It uses SQL to create, design, and modify the database. You can use it to create the database from scratch or modify existing databases.

SQL Server Database Modeler is a visual tool that allows you to provide details about tables and columns, relationships between tables, and more. The tool also helps you to create queries, forms, and reports using the drag & drop feature. Its integrated connection manager option provides easy access to SQL Server Management Studio.

The biggest drawback of SQL Database Modeler is its price tag—it costs $240 per license per year!

  • Integrate.io

Integrate.io is a cloud-based tool that allows you to create and manage data pipelines. It has a range of features that support the entire lifecycle of your pipeline, including ingest, transform, cleanse and load (ETL).

Integrate.io supports API management, customer onboarding, and integration with third-party products. It has an open API that allows you to build custom connectors for any system or process. Integrate.io also provides real-time analytics so you can monitor and optimize your pipelines as they run.

  • IBM InfoSphere Data Architect

IBM InfoSphere Data Architect is a data modeling tool for designing, deploying and managing data warehouses and business intelligence applications on IBM Cloud. You can use the tool to import data from different sources into your model for analysis or reporting purposes. You can also manage all aspects of your project through its integrated development environment (IDE) with features such as code management and debugging capabilities.

  • Toad Data Modeller

Toad Data Modeler is a data modeling tool that lets you create and manage models, diagrams, and entity relationship diagrams. You can use it to build database applications, including ERP systems and data warehouses.

Toad Data Modeler’s most popular features include:

  1. Graphical modeling tools that help you create complex database structures quickly and easily
  1. Entity Relationship Diagrams (ERDs) which make it easy to analyze relationships between entities
  1. Data Flow Diagrams (DFDs) allow you to model data flow between different processes.

You can use Toad Data Modeler on your computer or in the cloud with a subscription plan of $330.40.

  • Magic Draw

MagicDraw is an open-source data modeling tool to design and document database models. You can use it to create database schemas, generate SQL code and perform data analysis.

It allows you to create diagrams in multiple styles, view related elements as a group, import/export diagrams in different formats, and perform calculations on entities. It lets you add comments, change colors and fonts, create links between different parts of your document, and easily manage versions of your work.

To know more about the important tools to be learnt, check out our blog on important tools covered in data science.

Conclusion

Data modeling is crucial for anyone working in today’s business world. It’s also an area where many people feel they need help, and there are some great options to help you learn. But if you’re looking for a program that will give you the best results, visit the Online Manipal website today to pursue your online degree or professional certification from a premium university. 

If you’re looking to boost your career by learning data modeling, don’t hesitate—to take action today!

Key takeaways:

  • Data modeling tools provide a visual representation of your data, its elements, and its attributes, which is often easier to grasp than traditional text-based representation.
  • They allow you to generate reports that can be used to communicate with stakeholders and other users who may need to become more familiar with the technical aspects of your project or the terminology used in the field of data science.
  • Data modeling tools can automate tedious tasks like cleaning dirty text and generating machine-readable labels for categorical attributes (e.g., product type). This saves time while ensuring the quality of your datasets at the same time.

Key differences between data science & computer science

Data Science and Computer Science go hand in hand, but what makes them different? And what are their similarities? They share some principles and tools, but they ultimately have other areas of focus. You should know them when you enter the field. In this article, we will see what data science and computer science are and the difference between data science and computer science.

What is data science?

Data science combines mathematics, statistics, specialized programming, advanced analytics, Artificial Intelligence, and machine learning with expertise to cover actionable insights within the organizational data. 

Businesses can use these insights to guide decision-making and strategic planning. The accelerating volume of data sources and subsequent data has made data science one of the fastest-growing fields across every industry. So If you are wondering if it is good to spend two years in a data science course, then the answer is yes, as more organizations are increasingly reliant on data scientists who provide recommendations to entrepreneurs on improving their business outcomes. 

Data science career option

Finding the right job is important in life for most individuals. However, it needs to be clarified to choose career titles in computational data science. Also, the demand for data science is increasing day by day. Below are some common job opportunities that exist in this field:

  •  Data analyst

Data analysis is an entry-level job in Data Science. As a data analyst, you are given questions by the organization, and you have to answer those based on your skills in data mining, data visualization, probability, and statistics and the ability to present complex information in an easy-to-understand way by using a dashboard, graphs, and charts.

  • Data scientist

As a data scientist, you need the right experience dealing with extensive data. A data scientist’s many activities are similar to that of a data analyst. The new skill they need is machine learning to design, develop and evolve machine learning models to make more accurate predictions based on past real-time data. They generally work independently to find patterns of information that the management might not have found and help benefit the company.

  •  Data engineers

Data engineer responsible for creating and maintaining the Data Analytics infrastructure and pipeline of the company by using skills in advanced SQL System administration programming and scripting skills to automate many tasks.

Tools a data scientist should know

Although the data science process is a fairly certain stone, there are much like the scientific method, the tools that a data scientist uses are open to negotiation, but most data scientists primarily need to know 

  • SQL 
  • R, SAS
  • Python
  • Tableau 
  • Pyspark 
  • Docker
  • Kubernetes
  • Airflow or similar because you can apply these tools and languages to any business.

What is computer science?

Computing is part of everything that we do. It drives innovation, business entertainment, and education and solves complex and challenging problems. Computer science is the learning of computational systems and computers. It is also a broad field that includes everything from algorithms that make up the software to how software interacts with hardware and how well the software is developed and designed. 

Computer scientists use various mathematical algorithms, coding procedures, and their expert programming skills to study computer processes and data mining and develop new software and systems for the organization. 

Computer science career options

After completing a computer science degree, some of the most common jobs you might find are as follows: You can even work for the top 10 Data Science companies.

  •  Applications or system software developer

Software developers are creative individuals. They are responsible for designing, developing, and installing software systems. They should have software development skills, version maintenance, and an eye to catch small mistakes in the large code base. The quality of problem-solving and resolving issues in broken code is necessary for developers. Along with these technical skills required for software development, the person must communicate the findings to management and collaborate with other developers and testers.

  •  Computer hardware engineer

As we know, a computer system consists of two major elements: Software and Hardware. Computer hardware engineers design, test, and produce computers and components related to different subsystems and electronic hardware, such as monitors, keyboards, motherboards, USB devices, and other components.

  •  Web developer

Web developers have the same skills as software developers; however, they code for applications that run in the browser, meaning they need to know HTML, CSS, and JavaScript to develop the front and parts of the web application. Moreover, forming parts of the backend takes a lot of interaction with the database and the application’s business logic. It needs to know programming languages such as Python, PHP, Ruby, Java, etc. With the introduction of NodeJS, it is easier to write backend functionalities in JavaScript.

  •  Database administrator

The database administrator runs and maintains one or more database systems. The administrator usually specializes in storing and processing data in the database, which helps you with queries, triggers, and stored procedures and packages. They ensure the security and availability of the data to the users and the shareholders. After computer science, you can even opt for career options in computer system analysis, forensic computer analyst, information security analysis, etc. 

Similarities between data science and computer science 

The following are some commonalities between the two roles that you might anticipate:

  • Both require a working knowledge of the company’s data and an understanding of the business and its products. 
  • Both roles typically involve fluency in using Git or GitHub. 
  • Both generally follow a systemic approach to the scientific process. 
  • Both are expected to be technology leaders. 
  • Both roles typically require proficiency in one programming language. 
  • Both roles can begin in one role and switch to the other.

Key differences between data science and computer science

Key differences between data science and computer scienc

Data science and computer science are interconnected because large data problems require efficient and reliable computation. Still, there are some critical differences between computer science and data science. Below are some key differences between data science and computer science:

  • Data science uses software machines and devices to bring out data by processing data with software and computing devices, whereas computer science is more about software machines and devices.
  • Computer science has activities related to developing and creating computing storage and networking, while data science activities are related to understanding user and organizational behavior.
  • In Computer Science, one has to study computer architecture, software algorithm hardware, and software design and implementation. However, in Data Science, one must explore different data types, such as structured, unstructured, and machine learning algorithms, to predict future outcomes. 
  • Data science uses machine learning and other techniques that connect the computational issue in data science with the algorithmic matter. In contrast, in Computer Science, computer science is used in data science to understand digital patterns in structured and unstructured data and to simplify many difficult and complex analytical tasks. 
  • The computer science algorithmic approach focuses on the mathematical foundations of numeric computation. It gives the practitioners the tool to create efficient algorithms and optimize their results, whereas, in data science, you focus on the necessary skills of algorithms and algorithmic modeling. Students study the fundamentals of using different algorithms, data mining techniques, and machine learning. 

Conclusion

To sum up, computer science vs. data science are two fields that come under the same roof when getting them to apply for the use of technology. Both the areas that are now important are advancing in technical aspects and creating new opportunities and technologies with sophisticated processes to ease our lives. 
Suppose you want to become a data scientist or computer scientist. In that case, you can go through the Online Manipal website and check out our data science degree vs. data science certification course to help you understand it better.

Financial inclusion and inclusive growth: Twin engines for sustained growth

Financial inclusion is a process of providing access to different types of formal financial services like banking, insurance, and timely and adequate credit facilities, especially to the weaker section/ low-income group of society, at an affordable cost.   

India is an economically diverse country and must pay serious attention to financial inclusion. Financial inclusion or including the economically weaker section of the society in the formal financial system has a critical role in the overall economic growth of the nation.  

As our nation’s central bank, the Reserve bank of India (RBI) plays a crucial role in making financial inclusion one of the prime national objectives. Reserve Bank of India (RBI) released the “National Strategy for Financial Inclusion (2019-2024)’’ on 10th January 2020, which highlighted the vision, framework, and objectives of financial inclusion policies.  

This report indicates that financial inclusion plays a significant role in improving the nation’s overall economic development, lessening income inequalities, and reducing poverty. Hence, financial inclusion plays a two-fold role in improving socio-economic growth. 

Check this article on impact of repo rate on individuals and society.

Schemes implemented by the government to promote financial inclusion

 

The Indian policymakers started to understand the importance of financial inclusion for social and economic growth. In the 1950s, the government of India took the first initiative to promote financial inclusion by nationalizing commercial banks and life insurance companies Later, it started many other initiatives, such as introduction of the National Strategy for Financial Inclusion (NSFI) in June 2017. This was backed by the Financial Inclusion Advisory Committee (FIAC). 

Few of the other prominent programs/ schemes are: 

Pradhan Mantri Jan Dhan Yojana (PMJDY) 

This is one of the major programs launched by the government of India in the year 2014. The primary objective of this scheme is to cover those citizens who are not having any savings and deposit accounts, pension, insurance, insurance in financial inclusion, and providing credit facilities at reasonable rates are a few of the major highlights of this scheme. 

Pradhan Mantri Mudra Yojana (PMMY) 

PMMY was introduced in the year 2015. This plan has proven very helpful in promoting small-scale businesses. Under this scheme, short-term capital loans or working capital loans, or term loans of INR 3000 crores are provided to the firms dealing in manufacturing, trading, service, and agriculture sectors as well. 

In this scheme, three types of loans are provided- 

‘Shishu’ is a category for loans up to Rs. 50,000, ‘Kishore’ is a category for loans up to INR 5,00,000, and the highest category is ‘Tarun,’ which offers loans up to INR 10,00,000.  

For easy access to the provided fund, the member lending institution (MLIs) issues a MUDRA card. Borrowers can use this MUDRA card to withdraw sanctioned working capital loans from any ATM or can utilize the card at other outlets also for making business purchases. 

Stand Up India                      

This scheme was introduced in the year 2016 with the objective of encouraging entrepreneurship, especially among women and scheduled castes/scheduled tribes.   

Under this scheme, a bank loan ranging between INR 10 lakhs to INR 1 crore is offered to at least one SC/ ST borrower and one female borrower per bank branch of the scheduled commercial bank. The loans provided are composite loans, including both term loans and working capital loans. 

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) 

PMJJBY scheme was started in the year 2015 with the objective of promoting financial inclusion by providing affordable insurance services to the underprivileged section of society.  

This plan is offered by LIC, as well as all other life insurers who are willing to offer the product and are following the required terms. Under this scheme, coverage of INR 2 lakhs is given for one year period, from 1st June to 31st May, and will be renewed after completion of tenure. This 2-lakh life cover will be provided in the event of the death of the insured. The premium for this coverage is INR 436 per annum. 

Conclusion

 

Financial deepening and broadening are critical factors for financial inclusion, and they can be attained.by targeting the bottom of the pyramid only. Financial inclusion plays an important role in the socioeconomic growth of the nation, and undoubtedly, our policymakers are working on it. Considering the schemes and programs launched by our government, it is clear that institutions like banks, non-banking financial companies (NBFCs), and insurance companies have a dominant role to play. These financial institutions must have significant presence in the rural sector to promote financial inclusion and hence reduce income inequality. They must offer financial services to underprivileged people in an easy and affordable manner. 

If you’re someone who’s interested in finance-related concepts and looking to make a career in the finance or banking sector, you can choose to take up an MBA in Finance or BFSI through Online Manipal. It’s a 2-year completely online program with an industry-oriented course curriculum, state-of-the-art learning management system (LMS), expert faculty, and vast e-learning content. Whether you’re a student who’s fresh out of college or a working professional looking to rise up the ranks in your company, an online MBA through Online Manipal helps you achieve your goals. 

Augmented reality: Future of marketing?

What is the future of marketing? Do we have a clear picture? Many new and advanced marketing techniques have emerged in the past few years, and they had great impact on the businesses. In this article, we’ll discuss an interesting concept called “Augmented Reality” and its impact on marketing. 

Knowing that you are equally curious, let’s get started. So, what is Augmented reality? My first encounter with this concept occurred when I planned to get my home painted. I went to the paint store to select the paint color but was pleasantly surprised after what happend next. Instead of handing over a color palette or a catalog, the staff has handed me over their iPad. Later, they asked for the pictures of my house. When I sent them the pictures, they just transferred them into their iPad, and there you go, my house was painted. Not literally, but I was able to see my house painted in all the colons I wanted right on that screen, and trust me on this, I was in awe of that technique. 

What is Augmented Reality?

 

Do you believe that the memory of whatever we see and experience stays with us for LONG unlike what we read or see? So, the explanation starts right from this point. Augmented reality gives you a platform where instead of looking at it, you are into it. In simple terms, when we talk about selling products, most companies provide us with the option – “TRY BEFORE YOU BUY ” that too virtually. What else could a customer ask for? customer ask for?

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Augmented reality has two sides. On one side, the digital products are placed in the real world, and on the other side, real people are kept in a virtual world. Have you seen Lenskart’s “Try-On” feature? It allows you to try their frames and select the best one that suits you from the comfort of your home. Especially in India, I suppose Lenskart has been the flag bearer that brought this real-life experience with augmented reality or augmented marketing.   

Other examples of augmented reality

 

I came across a popular web series called “UPLOAD,” where with the help of VR gadgets, we can enter a parallel world and experience what it would be like living there. A good number of cosmetic brands offered by Amazon also provides this feature. For example, customers can try lipstick through the app before purchasing it.    

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At the international level, even some big brands like Rolex and Ralph Lauren are also participating in this and have come up with providing a virtual platform for virtual try-on. 

What is the impact of augmented reality on marketing?

 

Today, many e-commerce companies are facing a common issue where a large number of products are being returned by customers as they do not meet their expectations. Augmented reality is the solution to this problem, as it allows the customers to try things before they buy them.  

This feature helps marketing products like clothing, furniture, paint, medical equipment, and more. So, all business that are promoting their products or services can implement this augmented reality concept and give best purchasing experience to their target customers. 

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This feature not only works for e-commerce platforms but also for physical stores. Smart mirrors used for trying clothes and furniture stores giving you a glimpse of how the furniture would look at your place are some common examples. A good number of travel companies are using this feature to give their client a tour of the property/hotel/resort before they book the same for their vacation.  

What is the future of augmented reality?

  

Researchers state that this technology can be used by educators to give students a real feel of the concepts. Imagine if you are a medical student and you get an experience of performing open heart surgery without even touching a real person. Wow! At least, if I had been that student, my concepts would be like 100% clear.    

The other areas of applications are google maps (better versions of what we have now), medical science, Education, Health care, Music, Training of military, Sports training, and the list goes on. 

If you want to know more about such exciting topics and dive deep into them with me, then enrol for a MBA in marketing through Online Manipal, and I will wait for you there to give you a tour around such areas. Online Manipal is the online learning platform of Manipal University Jaipur (MUJ) that offers UGC-entitled bachelor’s and master’s degrees. The curriculum of all the course offered by MUJ is designed by industry experts keeping in mind the recent technological and business trends. As it is a completely online program, both students and working professionals can pursue it. The course fee is quite affordable compared to the on-campus degrees. Online Manipal also offers placement assistance upon successful completion of the program.  

Disclaimer:  This blog contains only the perspective of the author and is a complete unsponsored post. The sole purpose of this blog is to impart knowledge and not to publicize any mentioned brands. 

Why should employers encourage their employees to do MBA?

MBA graduates are in huge demand, as they possess the skills and knowledge needed in business. On a global scale, there is an increasing need for professionals with specialized business acumen who can handle various challenges in diverse industries. In 2021, 97% of employers hired MBA graduates compared to 80% in 2020. The demand for MBA grads is expected to remain robust over the next decade and beyond.

The trend toward hiring MBA grads with an online MBA or on-campus degree indicates that employers value an online MBA as equal to a traditional program. The MBA degree has become the standard mark of excellence in business and management education, regardless of whether earned online, through hybrid courses, or on campus.

Since employers view online MBA holders as possessing the same skills, abilities, and experience as those with on-campus degrees, they are able to make decisions based on merit rather than just relying on stereotypes about what makes someone an ideal hire. MBA skills in an organization are highly valued and bring growth to the organization.

You can also read the Top 7 MBA job roles in the US.

Things that make an employee with an MBA stand out

An employee with an MBA degree can benefit the employer in a number of ways:

  • An MBA holder possesses essential business skills and knowledge about the workings of a business that benefits an employer.
  • MBA holders are usually experts in their field, making them a valuable asset for an employer as it helps the employer increase the domain knowledge in the organization.
  • MBA grads are critical thinkers and can assess data and stats vital to evaluate the conditions of the business and can suggest improvements.
  • MBA holders also possess problem-solving abilities that are absolutely crucial to solving any disputes in the organization.
  • Finally, an MBA allows graduates to move into leadership positions in their companies, which means they play a significant role in the future development of their companies on the path to success.

Why are companies encouraging their employees to pursue an MBA while working?

There are a number of reasons why companies are encouraging their employees to pursue an MBA while working. Let’s take a look at some of the key advantages:

  • An MBA can help employees develop the skills and knowledge needed to be more effective in their roles.
  • An MBA can help employees better understand the business, its strategy, and how they can contribute to its success.
  • An MBA can help employees build a network of contacts within the company and across industries, which could benefit the business.
  • An MBA can help employees develop a broader perspective on business and management issues which can improve business processes within the organization.
  • An MBA can help employees develop leadership skills and lead a team to success and help the organization grow.

Is an online MBA a great option for working professionals?

Online MBA programs offered by the reputed Manipal University Jaipur (MUJ) and Manipal Academy of Higher Education (MAHE) are affordable and offer higher ROI as compared to traditional programs. The MBA programs offered by MAHE are specifically designed for working professionals who want to improve their career prospects and earn better salaries. The programs provide a solid foundation in business, allowing graduates to take on leadership roles in their organizations and help their organizations prosper. With an MBA from MUJ or MAHE, you will be able to make a positive impact on your employer and contribute to the growth of your company.

You can also read How online courses help you to manage studies while working.

Conclusion

An MBA degree can provide a number of benefits to your employer, from improved decision-making skills to better strategic planning ability. In today’s competitive business landscape, an MBA can give your employer the edge they need to succeed. If you’re considering pursuing an MBA, you can enroll in the online MBA programs offered by MUJ and MAHE.

Skills needed to become a successful Journalist

Journalism is among the most sought-after vocations in contemporary media and entertainment. Over the past years, the proliferation of television news channels and internet media outlets has created endless opportunities for journalists. The demand for high-quality, reliable journalism is as high as always, but given the quickly evolving technology and consistently shifting expectations, the strategies used to provide this service need to be updated. 

A degree in journalism or mass communication is the most popular entry point into this career. This qualification might be helpful in other industries like communications, marketing, education, and entertainment, in addition to improving your chances of earning a seat in the newsroom. According to data, 44% of teachers reported a significant rise in enrollment for journalism courses. So, what makes a good journalist? Let’s find out.

You can also read Journalism and Mass Communication as a career in India.

Is a career in journalism a good option?

A Career in journalism can be fulfilling for a variety of reasons which are mentioned below. 

  • Chance to embark on challenging assignments

There won’t be many monotonous days in a journalist’s career. You get to work on various disciplines, including sports, politics, lifestyle, and many others, in addition to learning first-hand about the occurrences in your town.

  • A great sense of accomplishment

Journalists can have an impact on an audience with their writing and research that helps gain new knowledge as a result of their efforts.

  • Opportunity to socialize

As a journalist, you’ll get the chance to interact and meet individuals from all layers of society and interview famous people. 

Top skills required for a career in journalism

A keen eye for details, an aptitude for current affairs, a strong academic footing in the discipline, and adaptability to the ever-changing media scene are most desirable for anyone who opts for the profession of a journalist. Success would entail those who embellish it with hard work and sincerity, not to forget an ethical steadiness, a research-oriented mind, and great communication skills. Top it with an urge to know and involve in various media sectors, specializing in a few, and cherish the art to the hilt!”

Dr. Shabana Mansoor, SME – Media and Journalism

Here is a brief outline of the skills needed to be a journalist that good journalists have in common and that a future aspirant must master.

  • Ethical journalism skills 

You must uphold and adhere to journalism ethics despite the fierce competition from numerous broadcasting outlets. 

  • Digital literacy 

Journalists need to be well-versed with tools, including the latest apps, websites, social media, and computers. You need to be adaptable to changes, including the usage of digital media, to have a rewarding profession. 

  • Journalism knowledge 

A solid academic basis in journalism can help your career immensely. You need to be knowledgeable in theory and practice to do your job well, and it is among the essential journalism skills for a resume.

  • Communication skills

Given that their work requires a lot of research, developing scripts, creating material, and editing, broadcast journalists have to be proficient in written communication and the skills to express themselves well on paper.

  • Research and attention to detail 

As a journalist, you must pay close attention to the little details to determine whether the information you’re about to convey to the public is true. 

  • Investigative reporting 

You must possess investigative reporting skills to look into any immoral behavior in society. 

  • Problem-solving skills 

You must solve problems to get through any obstacles in your path, spot issues, and come up with fixes quickly.

You can also read Top career options after MA in Journalism & Mass Communication.

Gain in-depth knowledge and key journalism skills with an online MA JMC from MUJ

The UGC-entitled online MA JMC program offered by Manipal University Jaipur integrates theory and training to equip you with the skills necessary to launch your career in the field. This course strives to enhance students’ basic understanding of history and their command to explore social, economic, cultural, and political systems. The program encompasses modules that will enhance your abilities and give you practical experience in a variety of domains like digital publishing, photography foundations, screenwriting, audio-visual editing, mobile editing, etc. You will gain expertise in a wide range of subjects, such as digital media marketing, broadcast journalism, news reporting, the craft of storytelling, media law, ethics, and a lot more.

Key Highlights of MA JMC course from Online Manipal

  • UGC-entitled degree from a university with a NAAC A+ rating 
  • Course duration: 24 months (2 years)
  • Course fee: INR 1,30,000 ( INR 32,500 per semester)
  • The flexibility of semester-wise fee installment payments
  • Scholarships for defense personnel, differently-abled people, government employees, and meritorious students
  • Placement assistance

Conclusion

A career in journalism could be a fast-paced and interesting opportunity to discover more about the world, share your thoughts, travel, and stay informed. Having the aforementioned skills needed to become a journalist can guarantee that you enter the field with a competitive advantage. These skills are emphasized in MUJ’s online MA JMC course, which makes it the ideal step for preparing for a career in the field. So, enroll today and start your career in the domain.

What is Enterprise Resource Planning?

ERP can have a massive impact on your business. Still, it’s not just about automating things like accounting or inventory management—it’s also about ensuring you have the correct information at the right time. But what is the ERP complete form? ERP stands for Enterprise Resource Planning.

Want to know more about the essential tools required in data science, check out our blog on important tools covered in data science.

What is Enterprise Resource Planning?

Many people ask, what is ERP? Here’s how we define ERP. Enterprise Resource Planning (ERP) is a software application that integrates all aspects of a company’s business processes to streamline them and improve efficiency. ERP software can be deployed on-premises, in the cloud, or as a hybrid solution.

Companies of all sizes use ERP solutions, but they are prevalent among large corporations operating multiple locations or complex supply chains. Many large corporations use ERP systems to manage business operations at various locations around the world.

The most common types of ERP solutions include manufacturing resource planning (MRP), customer relationship management (CRM), supply chain management (SCM), financial management (FM), and human capital management (HCM). 

Have a desire to learn all the top business analytics tools? Check out our blog on the best business analytics tool for further information.

Types of ERP

There are three types of ERP software systems available:

  • Cloud ERP

Cloud ERP is a type of ERP hosted on a cloud platform. Cloud ERP offers several benefits over traditional ERP systems. For one, it allows for real-time data sharing across multiple users and locations so that employees can stay connected to their company’s systems wherever they are. Cloud ERP also can store data securely in the cloud, which means that there are fewer worries about losing important information during an outage or other disaster scenario.

  • On-Premise ERP

The on-premise ERP is an enterprise resource planning (ERP) software installed on a company’s servers and is accessible only by the employees of that company. 

On-premise ERP systems are typically expensive, but they offer significant benefits over cloud systems, such as better security and control over your data. 

  • Hybrid ERP

Hybrid ERP is a combination of both on-premise and cloud-based software. Hybrid ERP allows you to choose which components are best for your business and where they should be.

Hybrid ERP is an all-inclusive solution. It can manage your entire business, including accounting, production and supply chain management, sales management, procurement, and finance. Hybrid ERP offers features like resource planning, inventory control, purchasing, and budgeting. 

What does an ERP do?

ERP stands for Enterprise Resource Planning. It’s a system that manages your company’s resources and helps your business run more efficiently. An ERP system is used by companies of all sizes, from small businesses to international conglomerates.

Some of the features an ERP offers include:

  • Streamline Inventory Management

Inventory management is one of the most critical functions of ERP, and it allows companies to streamline their inventory processes and ensure they are utilizing their resources effectively. This means that it helps companies track materials, products, and other supplies to ensure they stay supplied. It also allows them to ensure that they have enough of each item needed for production and distribution.

Want to know more about market analytics? Check out our blog on what is market analytics by clicking here.

  • Track Customers and Employees

Another essential function of ERP is customer management, which allows companies to track customer information, such as email addresses or phone numbers, so that they can stay in contact with them. This is an essential tool because it lets businesses know who their customers are so they can better understand what type of products or services those people are interested in buying from them.

  • Manage Finances

An ERP system can manage your finances, including everything from accounting to sales reporting. The ERP system will help you create budgets, track expenses and revenue streams, and analyze trends. It also allows you to generate reports that give you an overview of your business performance over time.

  • Implement Workflow Processes

Workflow processes are an essential part of any ERP system. They allow you to automate repetitive tasks so that they happen automatically without being managed by a human being who would otherwise have to do those tasks manually every time they were required. 

How does it work?

An ERP includes software for financials, procurement, manufacturing, and human resources management and can also be extended to include sales, marketing, and customer support.

ERP systems are built using a three-tier architecture: client-server, n-tier, or three-tier. Each tier has dedicated hardware that performs specific tasks in the software architecture. 

The server tier handles all client data requests through communication protocols like HTTP/HTTPS and stores databases for data manipulation. The middleware layer provides services like logging in/out users and authentication procedures for different functions executed by users; it communicates with other servers over network protocols like TCP/IP etc.

Five components of ERP

ERP systems are made up of several components, including:

  • Finance

Financials are a critical component of any organization’s success. The engine drives your business, and its performance determines your capacity for growth. As such, an ERP system for finance should be able to automate many of the tasks associated with financial management, including budgeting, forecasting, accounting, and reporting.

  • HR

A human resources system is designed to allow companies to manage all aspects of their employee relationships in one place. This includes benefits administration, payroll processing and timekeeping (including vacations), hiring and onboarding new employees, performance reviews, employee training programs, and more.

  • Manufacturing & Logistics

An ERP system dedicated to manufacturing and logistics is designed to help businesses optimize their production processes by providing real-time data on inventory levels and other metrics relevant to operations management at each step along the supply chain.

  • Supply Chain Management (SCM)

Supply Chain Management manages the flow of goods and services in an organization. It involves planning, coordination, and execution to deliver products or services to the end customer.

  • Customer Relationship Management (CRM) 

Customer Relationship Management is a process that allows companies to identify and manage their customers effectively. CRM provides a systematic approach for collecting, analyzing, and utilizing information about customers to improve customer service.

But what is SAP ERP? SAP ERP (Enterprise Resource Planning) is a business application that helps companies manage their operations.

What are the benefits of Enterprise Resource Planning?

Enterprise resource planning (ERP) is a crucial tool for any organization, and it can help you save time and money, reduce risk, and improve efficiency. Here are six reasons why it’s so important:

  • Better financial control
  • Easier collaboration with suppliers and customers
  • Improved customer service
  • Reduced inventory costs
  • More accurate data collection and reporting
  • Better inventory management

Want to learn more about data analytics tools? Check out our blog on top essential data analytics tools for more information.

Top ERP Providers

Here are six of the most popular ERP providers:

  • Microsoft Dynamics 365 for Operations
  • Oracle ERP Cloud Service
  • SAP Business One
  • Sage 300 ERP X3
  • Infor CRM OnDemand
  • JD Edwards
  • Infor

Want to know about the skills required to become a data analyst? Check out our blog on data analytics skills for more information.

Conclusion

To expand your knowledge in ERP, you can check out the online MBA courses available on the Online Manipal website. You can graduate with an online MBA with a specialization of your choice from Manipal University Jaipur (MUJ) or Manipal Academy of Higher Education

Key takeaways:

  • ERP software helps you save money by reducing waste and streamlining your supply chain. By tracking every step of production, from raw materials to the finished product, you can identify any bottlenecks or unnecessary steps in your process and eliminate them.
  • ERP software provides real-time visibility into your inventory levels—inventories that are too low can result in lost sales. By tracking your inventory levels and adjusting accordingly, you’ll be able to optimize your supply chain for maximum efficiency.
  • ERP software allows you to track every detail of production and shipping so that nothing falls through the cracks—including compliance with food safety standards or health regulations. This is especially important if you’re selling products that require special handling or storage conditions.

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