In a 24×7 connected ecosystem where users are always online: at work, e-commerce, utility apps, or social media, a lot of data is created daily. As per estimates by the World Economic Forum,  463 exabytes of data will be generated every day by 2025. And this data is a gold mine for businesses, governments and institutions, where it is used for competitive advantage.
Much of the data is collected live and streaming. When this data is used strategically, businesses can develop processes, improve customer satisfaction, devise data-driven marketing plans and innovate for better products and services.
The process of collecting data from multiple sources, cleaning the same, and visualizing and analyzing the information is called Business Analytics. Companies that use Business Analytics experience the power of data-driven intelligence: improve efficiency, make faster decisions, drive higher ROI, and create a business edge. 

With the world so data-driven, business leaders want to hire professionals who can help their companies achieve data-driven business transformation. If you are a graduate in mathematics, statistics, or commerce, and are passionate about data, opt for a Business Analytics Certification to advance your career in one of the hottest fields of the century.

Business Analytics is a high-demand space with a higher-than-average salary.

What is Business Analytics?

Business Analytics is the process of transforming data into insights for business decisions. Businesses use statistical methods and advanced technology to crunch historical and live data to solve business problems. It analyses data to identify trends and anomalies to create predictive models and BI visualization. Business Analytics is the technique of solving business problems using data analysis, tools and technologies, predictive models, and quantitative methodologies.

The discipline of Business Analytics combines skills, processes, and technology to leverage the available data and influence business outcomes. The goal is to leverage data as a business asset and remain ahead of the competition.

There is a distinction between Data Analytics and Business Analytics. While the former analyzes data and information to make conclusions, the latter uses analytical tools to build models or drive outcomes.

Business Analytics are of three major types: Descriptive, Predictive and Prescriptive. Descriptive Analytics considers Key Performance Indicators (KPIs) to draw insights. Predictive Analytics analyzes trends and patterns to predict outcomes. And Prescriptive Analytics considers historical data to make recommendations.

The future scope of Business Analytics

Today businesses are using analytics to solve business challenges, increase revenue and ensure a high customer satisfaction index. With businesses constantly driven to innovate and create a competitive edge, managers want to make data-driven decisions in response to changing customer demand and market forces. Companies need expert professionals to turn the raw data into usable insights for resource optimization, fraud management, customer churn reduction, customer satisfaction, better project management, and accelerating the business through uncertainties and industry challenges.

Thus, the scope of Business Analytics is ever expanding, and the demand for Business Analysts is increasing every day.

Why Business Analytics is a good career option

A good career option indicates high salary, good job position, ability to make lateral career shifts in any industry, and the potential for career growth. 

As Business Analytics is an industry agnostic-field, it ticks all the four points into consideration. 

Business Analytics calls for a mix of hard and soft skills, the ability to identify business problems and utilize the right tools and software for data-driven decision-making. The candidate with these skills has a tremendous chance of steep career growth.

High Salaries

Business Analyst job roles offer lucrative packages, especially where candidates have a graduate degree in streams like Math, Stats or Economics or a post-graduate diploma in Management Studies.  

Although the Business Analyst salary in India averages an annual package of 7 to 8 lakhs, it can go up to 15 to 17 lakhs if the candidate has 5 to 9 years of job experience. According to Glassdoor, the national average salary for a Business Analytics job in India is Rs 10,22,367.

Job Roles

Certification in Business Analytics gives the candidate a wide choice of positions:

• Business Analyst
• Senior Business Analyst 
• Data Analyst
• Business Systems Analyst
• Data Scientist 
• BI Analyst
• Market Research Analyst
• Chief Data Officer
• Quantitative Analyst
• Data Architect

Moreover, once the aspirant has gained experience in these roles, he has the scope of landing Project Management and Consultancy roles. 8 to 10 years of work ex in various business analysis positions can give the analytics professional a chance to make it as a Chief Technology Officer, Chief Operating Officer, Project Management Office Director, or be a part of the management.

A Business Analyst can also work in various operations across industries, with different job roles and responsibilities. The diversity in career paths offered to the certified Business Analyst is one of the best advantages to the student or mid-career executive upskilling in Business Analytics.

Career shift

A fresh grad with a certification in Business Analytics may begin with an internship or entry-level job as a Business Analyst. However, with work experience and a few tools in his arsenal of skill sets, the Business Analyst can transfer his skills to any other industry or similar job roles like Data Scientist for steep career growth. These dynamics offer the qualified analyst a choice of industry domain and the ability to develop niche skills for asking salaries and positions.

Prospects of career growth

The digital transformation of businesses does not impact the job of a Business Analyst. As a people-oriented job, it cannot be automated and replaced. So Business Analyst job roles are secure as data is set to grow exponentially across businesses and industries, creating a high demand for professionals qualified in Business Analytics.

However, the Business Analyst must have hands-on experience in Business Analytics, analytical tools and techniques, and the necessary skills, besides the right academic qualifications. Of course, a certificate in Business Analytics enhances the career worthiness of the wannabe Business Analyst. Ultimately, the candidate with an analytical mindset, a passion for crunching numbers, extensive domain knowledge and the far-sightedness to transform the company to the next level can experience a steep curve in career growth in any Business Analytics job role.

Bottomline

The future of Business Analytics is bright, and the candidates who upskill in Business Analytics can optimize opportunities for their companies. Students and working professionals excited about leveraging the power of big data for a high-end career may begin by earning a certification in Business Analytics.

Business Analytics is a good career option because it offers competitive salaries, plenty of job opportunities and a high job satisfaction working in the industry of choice. The career scope is endless for the professional who can think out-of-the-box and be the change maker in his company.