Business analytics is a field that is growing in popularity and market share. The domain has been around since the 1970s, but it has only recently become so popular among large companies.

Businesses are now more interested in using data to make business decisions. Business analysts use computer software to analyse information and predict future events. They look at historical data to find trends, predict future behaviour, and make recommendations for improvement.

What is business analytics? 

Business analytics is collecting, analysing, and interpreting data to make better business decisions.

A business analyst evaluates data from many sources and turns it into a clear report for management. They can also help with problem-solving and decision-making.

Business analysts are the key to maximising efficiency and profitability in any organisation. They identify areas where improvements can be made, whether there’s too much waste or not enough profit in certain departments. Using data to guide their decisions, they can make informed recommendations that will benefit the company.

They are usually responsible for gathering customer needs and wants and competitor information such as pricing policies or new product releases.

READ MORE: What is Business Analytics: An overview

History of Business Analytics

The emergence of business analytics can be traced back to the 1940s, when it was used in military applications. In the 1950s, data analysis was applied to business problems, including inventory management and marketing.

In the 1960s and 1970s, several notable developments occurred in business analytics. The first mainframe computers were introduced in this era, which made it easier for companies to analyse large amounts of data. Computer-based decision support systems were also introduced during this period.

In the 1980s and early 1990s, companies started using statistical software packages such as SAS and SPSS to carry out data analysis tasks. By this period, many companies had begun storing their data electronically instead of on paper or magnetic tape files.

The late 1990s saw further advances in analytics technology with the emergence of web-based applications that allowed users to access company data from remote locations via computers or mobile devices such as smartphones or tablets. The ability to access information from anywhere at any time greatly increased productivity within organisations by reducing wait times between requests for information from managers who needed answers so they could make decisions quickly.

Data Analytics vs Business Analytics

Business Analytics	Data Analytics
Analytics requires less coding than other fields	Requires More Coding Than Business Analytics
It the statistical analysis of business data	It is a data-driven approach
It is about helping businesses make sense of the data they collect. It’s a process of collecting, organising, analysing, and interpreting data to make decisions that can have an impact on your bottom line	It is a process of extracting meaningful information from data to help businesses make better decisions. It involves analysing data, finding patterns and trends in the data, and then using those patterns to make decisions that improve business performance
It is independent of data available	It is totally dependent on the data
It is cheaper compared to data science	Costlier than Business Analytics
It emphasises structured data	Data Analytics gains insights from data in order to make better decisions and take action

READ MORE: Difference between business analytics and data science

Significance of Business Analytics in the current world 

The importance of Business Analytics in the current world is paramount.

• Business Analytics is a very important discipline for businesses and organisations. It helps them improve their processes, products, and services by clearly understanding customer needs, expectations, and behaviour. It can also improve internal processes such as employee recruitment, training, performance appraisal, and compensation.

• Business Analytics helps organisations identify their strengths and weaknesses and opportunities for growth by conducting market research studies. This allows them to develop strategies that can help them take advantage of these opportunities while avoiding potential threats from competitors or other external factors such as economic downturns or technological changes within their industry or market segmentation.

• Business Analytics helps organisations understand how they should go about achieving their goals effectively by identifying all relevant stakeholders (such as customers, employees, and suppliers) involved in their business operations; then analysing how each stakeholder interacts with other stakeholders while providing feedback through different communication channels such as social media platforms.

How can I enter the Business Analytics industry?

The business analytics domain is a fast-moving field, and it’s hard to keep up with the changes. Here are some tips to help you get started in the business analytics industry:

• Get a degree 

The best way to enter the Business Analytics domain is by completing a bachelor’s degree in Business or Economics. During your studies, you’ll learn the basic principles of business and economics and gain experience in data analysis.

After you graduate, you can start applying for jobs as a Business Analyst. In most cases, it’s best to have some work experience in this field before applying for a job as a Business Analyst. You can get this experience by working as an intern at a company or doing an internship during your studies. If you want to explore further, you can pursue a specialised master’s degree in business analytics.

• Build your skillset

First, you can learn more about data science and how it uses statistics and computer programming to solve business problems. This will give you an understanding of what the job entails and help you decide if it’s something you want to pursue.

Businesses use their understanding of data to increase sales, reduce costs and improve customer satisfaction. They use analytics to gain insight into their customer’s behaviour, so they can create more effective marketing campaigns or improve their products and services based on customer feedback.

• Find a mentor 

This may seem an obvious step, but it’s important: having someone who can guide you through this process and answer questions as they arise will make all the difference. You’ll have someone who can answer your questions and help you avoid making mistakes; they may even be able to give you advice on how to get started!

• Find a Business Analytics-dedicated project or community

This is another important step: if you’re trying to become a better developer, it helps to find a project where people are working on what you want to do. You’ll have the opportunity to learn from others and get feedback on your work; if you’re interested in contributing code or documentation, this can be especially helpful!

What is a Business Analytics course?

Business Analytics courses in India are available at all levels: certificate, diploma, bachelor’s, and master’s degrees. Some schools offer both programmes, but they may be called by different names. For example, an undergraduate degree may be called an “Analytics” or “Data Science” degree. In contrast, a postgraduate degree would be called a “Master of Science in Business Analytics.”

The business analytics course in India will include classes related to statistics and mathematics, such as regression analysis (linear and logistic), optimisation theory (linear programming), probability theory, etc. Students will also learn about data mining methods such as clustering and association rules that can be used for predictive modelling.

Particulars	Descriptions
Branch name	Business Analytics
Degree	Master of Business Administration, Bachelor of Business Administration, Master of Science
Degree duration	2 – 3 years
Eligibility criteria	Graduation in any discipline + Entrance exam
Admission process	Entrance test + Group discussion + Personal interview
Entrance exams	UGAT, CAT, XAT, GMAT, SNAP, NMAT, CMAT
Course fees	INR 10 Lakhs to INR 15 Lakhs
Top colleges	Manipal Academy Of Higher Education, IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Indore
Career options	Operations Manager, Area Sales Manager, Project Manager, Business Analyst, and Business Development Executive
Average salary	R 8.5 Lakhs Per Annum
Top recruiters	TCS, JP Morgan Chase And Co., WNS Global Services, Accenture etc

Requirements for business analytics course

There are two main business analytics courses in India: MBA and M.Sc., and their eligibility criteria are as follows – 

• The candidate must have a bachelor’s degree in any discipline from a university or institute recognised by the university grants commission (UGC).

• The candidate should have scored at least 50% marks or equivalent in their bachelor’s degree.

• The candidate should be able to speak and write English fluently with an ability to read and understand technical papers in the English language if required by the university/institute offering the course.

The programme fee for the business analytics course

The cost of the business analytics course in India depends on the duration, institute, and type of business analytics degree in India. The business analyst course fee structure can vary greatly depending upon the university or college offering the same.

MBA programme in business analyst course fees are INR 50,000 to INR 60,00,000 per year, while M.Sc. in Business Analytics is INR 35,00,000 per year. In addition, tuition fees vary depending on which university you choose. If you’re worried about the fee, you can opt for an online degree programme in business analytics, that is much more affordable than a regular course.

Finally, exam fees range from Rs 500 to Rs 1000 depending on which university you attend and what level of certification your degree allows.

Business Analytics course subjects

The business analytics course subjects include:

• Introduction to business analysis

Business analysts are responsible for understanding the needs and requirements of a business and using that knowledge to create a plan for implementing a solution. The introduction to business analytics course in India provides an overview of this role, including the types of solutions they might be expected to develop, the different methods available for creating those solutions, and the tools that can be used to facilitate the process.

• Business analysis processes and methodologies

The second module covers some common processes and methodologies business analysts use when creating solutions for their businesses. These include Agile methodology, Waterfall methodology, and newer techniques like Lean Startup and Design Thinking.

• Requirements Management (RMM)

This module moves on to discuss how to gather requirements from stakeholders at all levels within an organisation—from executives down to end users—and how best to manage those requirements throughout their lifecycle from concept through implementation until retirement or replacement with new systems or technologies to ensure that they remain relevant throughout their entire lifespan without becoming obsolete due to changing business needs over time.

• Business Process Modelling and Analysis (BPM)

The Business Process Modelling and Analysis (BPM) section introduces students to the concepts used in business process modelling and the tools needed to create models. Students will learn how to draw process diagrams and use BPMN 2.0. They will also learn about organisational structures, data flows, and the tools used by business analysts.

• Enterprise Architecture (E.A.) Techniques

The Enterprise Architecture Techniques section teaches students about enterprise architecture and its role in improving business processes. Students will learn about business architecture frameworks like TOGAF 9 and Zachman Framework, as well as architectural styles such as service-oriented architecture (SOA). Students will also learn about enterprise resource planning (ERP) systems and their role in improving business processes.

• Project initiation and planning

The Project Initiation and Planning section introduces students to project management techniques used by business analysts when working on projects for clients or internal departments within an organisation or corporation. Students will learn how to plan projects using either Agile or Waterfall methodologies and how to manage project teams effectively while keeping them focused on meeting deadlines and budget requirements.

Semester-wise syllabus of MSc in Business Analytics 

The business analytics syllabus for an M.Sc. includes –

• Analytics for Competitive Advantage
• Financial Accounting
• Introduction to Statistics for Data Scientists
• Programming for Data Science
• Marketing Management
• Big Data Analytics
• Building and Managing Teams
• Data Management, Databases, and Data Warehousing

Semester-wise syllabus of Online MBA with Business Analytics

The business analytics syllabus for an MBA certification includes –

Semester 1:

• Quantitative Methods
• Managerial Economics
• Management Information Systems
• Financial Accounting
• Marketing Management
• Organisational Behaviour
• Statistical Analysis
• Data Modeling

Semester 2:

• Financial Management
• Operations Management
• Human Resource Management
• Financial Analytics
• Optimization Analytics
• Stochastic Modelling
• Business Intelligence
• Research Methods

Semester 3:

• Predictive Analytics
• Risk Management
• Marketing Analysis
• Data Mining
• Simulation Modelling
• Project Management
• Analytics Systems Analysis and Design
• Professional Development
• Industry Internship Programme

Semester 4:

• Strategic Management
• Operations and Supply Chain Analytics
• HR Analytics
• Big Data Analytics
• Project Management
• Analysis and Design
• Professional Development

Why should you choose MBA/MSc in business analytics?

Business analytics is rapidly expanding, and there are a lot of opportunities to make an impact as an analyst or data scientist.

Here’s why you should choose – 

• You can work with various data types and formats, from structured databases to unstructured text files and everything in between.

• You’ll get to solve problems that matter, like how to increase company revenue or improve customer experience on your website.

• You’ll learn applied mathematics and statistics, which means that you’ll be prepared for any role in the industry when you graduate, even if it isn’t specifically related to analytics.

• You will completely understand the latest business trends in the market.

• You will be able to use advanced technologies like machine learning, AI, and data mining techniques to solve complex business problems.

• You will be able to apply your knowledge of analytics and modelling techniques to real-life scenarios in the industry that you are interested in pursuing after graduation.

Business analytics skills you earn from a programme

Business analytics programmes are designed for students interested in data science and who want to learn more about its applications. The business analytics course in India is available at both certificate and diploma levels, but many students opt for the latter because it provides a more comprehensive education on the business analytics course subjects.

Some of the key skills that students develop during their business analytics course in India include:

• Data mining

This involves finding patterns in large quantities of data with the help of algorithms or models that can be used to identify trends or patterns within a database system. It helps businesses make informed decisions based on empirical evidence rather than intuition or gut instinct alone.

• Communication

You will be working with other people, so you need to be able to communicate clearly and effectively.

• Critical thinking

You’ll use your logic skills daily, so they’re vital.

• Data analysis

You’ll need to be able to analyse large amounts of data quickly and efficiently.

• Visualisation

Visualising data is an essential part of the business analytics process, so you need to be able to create charts and graphs that represent information clearly and accurately.

• Programming

Programming is another vital skill that can help you succeed as an analyst—you’ll be able to automate processes or create programmes that help you analyse data more efficiently.

• Modelling

Models are used in Business Analytics as visual representations of complex systems; they allow businesses to see trends in their data over time and identify relationships between different elements.

ALSO READ: 15 key skills and tools business analysts needs to succeed

Scope of Business Analytics

Business analytics is a field that’s growing rapidly and offers many different job roles. To get an idea of what’s available, take a look at some of the most common professions:

• Business analyst

The business analyst is the person who coordinates projects and keeps the company running smoothly. They’re responsible for analysing a company’s data to make decisions, and they often work closely with a company’s support teams to ensure that their clients are happy. The average salary for a business analyst ranges from INR 3 lakhs to INR 15 Lakhs.

• Data scientist

A data scientist specialises in data analysis, helping businesses make better decisions using data. The job requires an understanding of how industries operate and how to quickly interpret large amounts of information, making it an ideal entry-level position for people with a background in maths or science. The average salary of a data scientist ranges from Rs INR Lakhs to INR 25 lakhs.

• Data engineer

A data engineer works with software developers to create algorithms that help computers process large amounts of data quickly and accurately. They typically specialise in one type of software or another, such as SQL or Python, so they can focus on optimising their workflows according to their specific needs. The average salary of a data engineer ranges from INR 3 lakhs to INR 20.9 lakhs.

• Business intelligence analyst

Business intelligence analysts are responsible for gathering data from various sources within an organisation and creating reports that analyse the information. The purpose of these reports is often to help managers make better decisions about their business practices based on current market conditions. The average salary of a business intelligence analyst ranges from INR 3.5 lakhs to INR 16 lakhs.

Choose Online Manipal for a Business Analytics course

Online Manipal offers an online MBA and online MSc in Business Analytics from MAHE. The courses are offered through Online Manipal. The business analytics course in India is designed to help students develop specialised knowledge and skills in business analytics to use the methodologies and technologies involved to solve real-world problems in their organisations.

The business analytics course in India curriculum covers topics such as data mining, predictive analytics, business intelligence, data visualisation, and more. The faculty for the programme includes experts from MAHE, as well as industry professionals who have worked at top tech companies.

The programme is offered through an LMS (Learning Management System) that allows students to access course materials 24/7 from any device with internet access. It also includes various other features like placement assistance after the completion of the course and a scholarship program that covers 100% tuition business analyst course fees plus hostel charges for all admitted students who meet the eligibility criteria.

You’ll also get access to many resources other schools don’t offer: no-cost EMIs on all business analytics courses in India (local tuition fees apply) and scholarship opportunities for deserving candidates who demonstrate leadership qualities during their coursework.

Frequently asked questions (FAQs)

Final thoughts 

Business analytics is a rapidly growing field and is one of the most in-demand skills in today’s job market.

If you want to be on the cutting edge of this hot field, then business analytics is for you. Manipal Academy of Higher Education offers a wide range of courses in Business Analytics through Online Manipal to help you get there.