Business analytics as an area has undergone a massive transformation in the past decade or so. Did you know that 90% of all the data being crunched today was generated only in the last two years? A staggering 2.4 quintillion data has emerged in only the last 10 years.
Analytics, without a doubt, has become instrumental to the future of every business. In fact, business analytics can work as rocket fuel to revive any collapsing business. Without this, businesses are stalemated and will not be able to progress in the future.
It will interest you in knowing that even retail companies are hopping on the business analytics bandwagon. With the help of big data and analytics, they are improving the customer’s experience and loyalty quotient. Nowadays, organisations are gathering insurmountable digital data, and they require a skilled professional who can efficiently put the data to work, in a manner that proves beneficial for business growth. Therefore, the demand for business analytics has grown exceptionally in the recent times. No wonder big data and analytics has become one of the hottest professional pursuits these days.
Let’s have a look at the top 5 reasons why it is beneficial to study business analytics:
Gain expertise in problem-solving
When we talk about business, the very immediate terms to strike our mind are risk and problems. So, it is essential to get expertise in problem-solving issues. Any problem occurring in business can leave both your staff and customers perturbed. These sort of situations need a methodic approach to problem-solving skills, where the ability to think analytically comes into play. Thus, organisations require business analytics professionals who are potential problem solvers. Those who can synthesize complex data into actionable solutions are expected to win modern boardroom wars.
‘Analytics’ is in the air, it’s everywhere!
Analytics has percolated into every walk of our life. From the data touchpoints we use, the media we consume, to the entire social grid, every single component of our existence has now been enveloped by business analytics. New opportunities are arising in almost all industrial domains, and as far as growth avenues for professionals are concerned, the sky is the limit. Every industry is aiming to become better in their approach and processes.
Helps in analysing everything
We are surrounded by a plethora of data, thus it is important to make wise use of it. Since the criticality of time-bound data crunching has gained prominence, the impact on the development of every business is bound to be greater than earlier. As a result, business analytics is being perceived as the key link that ties efforts to productivity and eventual success. When you are able to get the correct analytics model in place, you will gain expertise in decision making and flourish professionally. You will be able to make precise decisions rather than merely speculating.
Moreover, every organisation nowadays is in search of expert professionals with the ability to convert huge amount of data into productive information. It’s interesting to note that:
It is exciting
When you work analytics for a living, it’s obvious that your journey will be an exciting one. You will take risks, connect the dots better and come up with bold, path-breaking solutions that can induce change for the better. Also, thorough knowledge of programming tools like R Programming, Python and others, can help you pull more data efficiently, which will have a positive bearing on business productivity. As a result, your ability to handle a large amount of data will improve, as well as the propensity to provide sustainable solutions. You will work with better tools, which result in better business understanding and better output, leading to accelerated self and business evolution.
The demand for skilled business analytics professionals is increasing day by day. This is the reason why students are opting business analytics for their higher education. Any graduate with analytical abilities is preferred over a generic resource, and by virtue of up-skilling, bags a higher package than the industry average.
The RACE for excellence is on!
Now it’s time to explore the best avenues for business analytics. REVA University’s RACE, with its progressive modules, is a great fit for those looking to excel in the field. REVA Academy of Corporate Excellence is one of the top institutes for pursuing PGDM/MBA in business analytics in India. Recently they have been ranked 8th among ‘Top 10 Executive Analytics Courses in India – Ranking 2017’ by Analytics India Magazine, a notable authority in the field of education. This is just one amongst a host of other reasons that can help you make an informed decision. If this interests you, explore more at race.reva.edu.in.