What is Business Analytics: An overview In the current era, data is often hailed as the new oil. However, just like crude oil, raw data must be refined and processed to extract its true value. Enter business analytics – a powerful tool that converts data into actionable insights, driving strategic decisions and boosting overall business performance. Key components of business analytics Followings are the the key components of business analytics that include data collection, data cleaning, data analysis, data visualization, and predictive analysis. Data Collection: The foundation of business analytics starts with gathering accurate and relevant data from various sources like databases, spreadsheets, and real-time streaming data. Data Cleaning: Before diving into analysis, data must be cleaned to remove inaccuracies, inconsistencies, and redundancies. Data Analysis: Techniques like descriptive, diagnostic, and predictive analytics help in deciphering patterns and trends. Data Visualization: Tools like Power BI and Tableau transform data into visual representations, making it easier to grasp complex insights at a glance. Predictive Analytics: Using historical data and machine learning algorithms to forecast future trends. You may be interested to know more about the difference between business analytics & data analytics. Applications of business analytics Various applications of business analytics can be seen across domains. We have listed some of them below – Marketing: Enhancing customer segmentation, targeting, and optimizing marketing campaigns. Finance: Managing risks, detecting fraud, and improving financial forecasting. Operations: Streamlining supply chain management, improving process efficiencies, and optimizing resource allocation. Human Resources: Employee performance analysis, talent acquisition strategies, and workforce optimization. Healthcare: Patient data management, predictive diagnostics, and improving treatment outcomes. Use cases and case studies Real-world examples bring theory to life. Let’s talk about Netflix, the streaming giant uses business analytics to personalize recommendations for each viewer to drive higher engagement and satisfaction. Another example is UPS, which employs predictive analytics to optimize delivery routes, saving millions in fuel costs. Listed below a few other use cases – Amazon: Amazon uses business analytics to optimize its supply chain, improve product recommendations, and detect fraud. Walmart: Walmart uses business analytics to improve inventory management, optimize pricing, and personalize customer experiences. Uber: Uber uses business analytics to optimize its pricing algorithms, manage its fleet of drivers, and improve customer satisfaction. The future of business analytics The landscape of business analytics is rapidly evolving, driven by technological advancements and changing business needs. According to Market Research Future, the business analytics market is anticipated to expand from USD 46.33 billion in 2024 to USD 90.67 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.50%. In 2023, the market size was valued at USD 43.25 billion. Here are some of the latest trends shaping the future of business analytics: Generative AI Cloud Computing Data Sharing and Monetization Data Mesh Data Governance and Security Automation and Citizen Data Scientists Real-time Analytics Decision Intelligence Augmented Analytics Ethical Considerations These trends highlight the dynamic nature of business analytics and its potential to transform industries. By staying ahead of these trends, businesses can harness the power of data to drive growth and innovation. How to start a career in Business Analytics By earning foundations in maths and stats to pursuing a degree course, you can take the following steps to start a career in business analytics. Get a solid foundation in mathematics and statistics: This will be essential for understanding and applying data analysis techniques. Learn programming languages: Python and R are popular choices for data analysis and machine learning. Gain practical experience: Look for opportunities to gain hands-on experience with data analysis projects, either through internships, freelance work, or personal projects. Network with professionals in the field: Attend industry events, connect with professionals on LinkedIn, and join online communities. Consider pursuing a degree or certification in business analytics: An MBA in Business Analytics or a specialized data science program can provide you with the necessary skills and knowledge. You may like to know the reasons to become a business analyst. Job roles in business analytics The field of business analytics offers a wide range of career opportunities, catering to various skill sets and interests. Some of the most common job roles include: Data Analyst: Focuses on interpreting data and providing actionable insights. Business Analyst: Bridges the gap between IT and business to improve processes and decision-making. Data Scientist: Applies advanced statistical techniques and machine learning to solve complex problems. Business Intelligence Analyst: Specializes in using tools to visualize data and create informative reports. Data Engineer: Designs and maintains data pipelines to ensure data flows seamlessly from sources to analysis platforms. Check out more on business analytics job roles. Expected salary The salary for business analytics professionals varies depending on factors such as experience, location, and industry. However, the demand for skilled business analysts is high, and salaries are generally competitive. Job roleAverage annual salary in India (INR)Data Analyst6.5 – 12 lakhsBusiness Analyst8 – 15 lakhsData Scientist10 – 25 lakhsBusiness Intelligence Analyst7 – 12 lakhsData Engineer8 – 15 lakhs Check out the FAQs on a career in business analytics. Enroll in MAHE’s MBA in Business Analytics Program For a comprehensive education in business analytics, consider enrolling in the online MSc in Business Analytics program at the Manipal Academy of Higher Education (MAHE). This program offers a blend of theoretical knowledge and practical experience, taught by industry experts. Key benefits include: Access to state-of-the-art analytics labs Hands-on projects with industry partners Placement assistance and career guidance In conclusion, business analytics is a dynamic field with vast applications and lucrative career opportunities. By equipping yourself with the right skills and education, you can be at the forefront of this data-driven revolution. Remember, data is only as powerful as the insights you can derive from it. So, start your journey in business analytics today and transform the way businesses operate.
Top 25 data science companies in India Ever dreamt of turning raw data into actionable insights that power businesses? India’s booming tech scene is brimming with exciting data science companies. These pioneers are at the forefront of innovation, tackling complex challenges and shaping the future with the power of data. Are you a data enthusiast seeking the perfect launchpad for your career? Or perhaps a curious mind eager to explore the data landscape in India? This blog is your one-stop guide to the top data science companies in the country! Dive in and discover the leading players who are pushing boundaries and driving the data revolution. Some of the high paying data science job roles include Data Scientist, Machine Learning Engineer, and Business Intelligence Analyst. According to Ambition Box, the average salary of a data scientist in India is INR 14.5 LPA. Data Scientists working in top companies will be able to earn more than this average and also have a bright career path. Also read: How to switch to data science career Top 25 data science companies in India Have you just completed your data science course? Are you unsure of the best company to start with? Undoubtedly, the data science industry is expanding, which has boosted the need for data scientists. Therefore, it is the ideal time for you to begin or make a switch to data science. India’s top 25 data science companies can help you launch your career. 1. Accenture Accenture has established itself by specializing in providing data-driven solutions and receiving strong support from machine learning and artificial intelligence. The analytics division of Accenture Analytics is a great workplace for a data analyst because Accenture’s predictive analytics technology powers it. Working at Accenture will allow you to join its global network of over data scientists and analysts and work in Accenture Innovation Centers and Accenture Labs. 2. Fractal Analytics Fractal Analytics, which was first conceptualized in 2000, has become one of the leading analytics service providers in the nation. This one is unstoppable with a global presence and a list of Fortune 500 firms in the technology, insurance, and retail sectors. Fractal encourages its data scientists to create unique analytics strategies for the needs of various clients, fostering innovation among all team members. 3. Wipro WIPRO stands as a top-tier technology services and consulting firm, dedicated to crafting inventive solutions tailored to meet the intricate digital transformation requirements of our clients. Drawing upon a comprehensive range of expertise in consulting, design, engineering, operations, and emerging technologies, the organization empowers clients to achieve their ambitious goals and cultivate resilient, forward-thinking enterprises. Wipro is among the top data science companies in India, where as a data scientist, you can grow and build a valuable career. 4. LatentView Analytics Latent View has valued customers like Paypal, IBM, Microsoft, and Cisco. It pushes data scientists to have a 360-degree view of every project to help clients make the best investment decisions, forecast the newest revenue sources, and anticipate product trends. LatentView is undoubtedly among the best companies for data scientists in India. 5. Tiger Analytics Tiger Analytics is one of the top data analytics companies in the world. It was established in 2011 and is based in the USA. They provide various organizations with a variety of data analysis options. Their analytics services are useful for the customer, operations, risk, strategy, and market analytics. They work with Cisco, Intel, PayPal, American Express, and more companies. Although the business is new, it already has a lot of significant clients. 6. Genpact Genpact employs a vast number of data scientists, and they all operate under a centralized hub model with a main emphasis on the client experience. By including them in programs like the Machine Learning Incubator and ML Upgrade, this company hopes to help undervalued data scientists grow into skilled data scientists. If you are a data scientist, this is one of the top companies to work for. 7. TheMathCompany TheMathCompany is a multinational data analytics and engineering company that collaborates with Fortune500 companies and other organizations of similar stature to improve their analytics capabilities utilizing the cutting-edge, unique platform. 8. Mu Sigma The US city of Chicago is home to Mu Sigma, which claims itself as the world’s leading provider of decision science and analytics solutions. It has offices across the world, with Bangalore serving as the primary delivery hub. As a data scientist at Mu Sigma, your duties include analyzing data, improving and simplifying it, and assessing the outcomes. If that sounds intriguing, Mu Sigma is undoubtedly searching for you to join its analytics team. 9. IBM IBM has provided clients worldwide with consulting and global technology solutions since 1911. Does your ideal work involve gathering, integrating, and managing a sizable amount of data used to provide operational insights and develop useful solutions for the business? Then stop your search right here; you need to go to IBM India to join as a data scientist. 10. Oracle Oracle is one of the most well-known IT companies nowadays. It is also among the world’s oldest companies. Founded in 1977, Oracle offers numerous software and IT services. They also have their own data analytics program, which has a history of helping the company. These utilize machine learning and provide data analytics assistance to several firms. Oracle will rank among the largest data analytics companies in the world in the years to come. Check out: How to prepare for a data science interview 11. Meta Beyond the algorithms and code, Meta’s data scientists are shaping the way we connect and interact online. From personalized news feeds to targeted ads, their work directly influences our daily lives. Their dedication to understanding human behavior and building tools that bring people closer together is a testament to the human-centric nature of their work. 12. Google Google isn’t just about search results; it’s about understanding human intent and providing relevant information. Their data scientists are constantly pushing the boundaries of AI and machine learning to create products that make our lives easier and more efficient. From self-driving cars to language translation, their work is making a tangible impact on society. 13. Microsoft Microsoft’s data scientists are not just crunching numbers; they’re building tools that empower individuals and businesses. Their work on accessibility features, natural language processing, and AI-powered assistants is making technology more inclusive and user-friendly. Microsoft’s commitment to human-centered design is evident in their products and services. 14. AbsolutData AbsolutData is more than just a data analytics company; it’s a partner that helps businesses understand their customers and make data-driven decisions. Their data scientists work closely with clients to uncover insights that drive growth and innovation, ultimately improving the lives of their customers. 15. Adobe Adobe’s data scientists are not just creating software; they’re enabling creativity and expression. Their work on personalization, recommendation systems, and customer analytics helps businesses connect with their audience on a deeper level. Adobe’s commitment to empowering individuals to create and share their stories is a testament to their human-centric approach. Also read: Data scientist roadmap explained 16. Airbnb Airbnb is more than just a platform for booking accommodations; it’s a community that brings people together. Their data scientists play a crucial role in connecting travelers with hosts, ensuring safe and enjoyable experiences for both. Their work is helping to foster a sense of belonging and connection around the world. 17. Airbus Airbus is not just building aircraft; they’re creating a safer and more sustainable future for aviation. Their data scientists are working on projects like predictive maintenance and flight optimization to improve efficiency and reduce environmental impact. Their work is directly contributing to the safety and well-being of passengers and crew. 18. Boeing Boeing is more than just a manufacturer of airplanes; they’re building a future of sustainable transportation. Their data scientists are working on projects like aircraft design, maintenance, and sustainability to create a more efficient and environmentally friendly aviation industry. Their work is helping to shape the future of travel and transportation. 19. Amazon Amazon is more than just an e-commerce giant; they’re a technology leader that is constantly innovating. Their data scientists are working on projects like Alexa, AWS, and Amazon Go, creating products that make our lives easier and more convenient. Their commitment to making a positive impact on the world is evident in their work. 20. Flipkart Flipkart is more than just an online marketplace; it’s a platform that connects millions of customers with sellers. Their data scientists are working to improve the user experience, optimize logistics, and ensure that customers receive the products they need. Their work is helping to drive economic growth and improve the lives of millions of people. 21. Cognizant Cognizant is more than just an IT services company; they’re a partner that helps businesses achieve their goals. Their data scientists work closely with clients to understand their challenges and develop data-driven solutions. Cognizant’s commitment to helping businesses succeed is evident in their work. 22. Capgemini Capgemini is more than just a consulting firm; they’re a partner that helps businesses transform. Their data scientists are working on projects that drive innovation, improve efficiency, and create value for their clients. Capgemini’s commitment to helping businesses succeed is evident in their work. 23. Cisco Cisco is more than just a networking company; they’re connecting the world. Their data scientists are working on projects that improve network performance, security, and customer experience. Cisco’s commitment to connecting people and businesses is evident in their work. 24. Cyient Cyient is more than just an engineering and technology solutions company; they’re a partner that helps businesses innovate. Their data scientists are working on projects that drive efficiency, improve quality, and reduce costs. Cyient’s commitment to helping businesses succeed is evident in their work. 25. Dell Technologies Dell Technologies is more than just a technology company; they’re a partner that helps businesses transform. Their data scientists are working on projects that improve customer experience, optimize supply chains, and drive innovation. Dell’s commitment to helping businesses succeed is evident in their work. Pursue the best online data science course from MAHE Manipal Academy of Higher Education, a renowned educational institute of the Manipal Group, is now offering degrees and certifications courses online mode. These include an MBA in Data Science and an MSc in Data Science. Pursuing these data science courses from Manipal Academy of Higher Education (MAHE) will help you gain sound conceptual knowledge as well as the skills necessary to become a future-ready data science professional. These programs are delivered in complete online mode to accommodate the personal and professional schedules and commitments of working professionals. The curriculum of these programs is designed by expert academicians that aim to prepare you for analytical and leadership roles in diverse sectors. Develop your skills in big data analytics, predictive modeling, statistics, and machine learning applications using real-world data. Learn effective teamwork techniques, tactical and strategic recommendation development, process, work, and team building. You can also learn and acquire practical knowledge of essential tools and packages like Hadoop, Matplotlib, NumPy, Pandas, and others. Online Manipal assists the students with placement opportunities in reputed data science companies. You can succeed professionally with MAHE’s data science courses and land well-paying job positions at reputable data science companies.
