What is business analytics
Business analytics is one of the most fastly growing business industry in the modern world. Business analytics requires the candidate to make use of unique skill sets and modern technology to assess the growth as well as the failures in a business. It is a relatively new field, but there is no doubt about the fact that it has picked up like no other feats. Students are day-by-day getting more interested in the field and are opting for courses that teach them the required skills to become a business analyst. All companies want a good business analyst who can analyse the past failures as well as successes of their company in order to guide the company for its future endeavours. Interested candidates must also know the Statement of Purpose of Business Analytics. SOP stands for standard operating procedure which is unique to every field. The SOP of business analytics suggest that the candidate must first be comfortable as well as a master of the basic technology and skills required to interpret the business data.
Purpose of Business Analytics
Business analytics is meant for investigating about the working of the company the state of the business and the work that is being done by the employees. These investigations are done in an attempt to make the propulsion of the company in a forward Direction such that the business improves and the company flourishes commercially. It can also be said that in the modern times business analysis by the trained business analysts can either make or break a company. Being so crucial for a company, the company is therefore obliged to pay the business analyst well. It is these attractive salaries that are offered to a business analyst that have attracted many students towards studying about the skill sets that are required to become a business analyst. The study about business analytical skills involves the student to not only learn about theoretical concepts, but also about modern technology that can affect the data science and hence the analysis of business reports.
Business Analytics Courses
During the business analytics course the start is done by teaching the students about the basic, fundamental, existing technologies that can be used to interpret business data. These Technologies include Microsoft Excel, SQL, and Tableau respectively. Teaching of these basic skills is followed by proper assessment. It is only after thorough assessment of these basic skills that the students are then taught about the advanced tools such as R, python, advanced data science, machine learning and many other skills.
Requirements for business analytics
The most unfortunate thing in Indian context is that there are very few government funded universities or colleges that have inculcated the business analytics course in their curriculum. It is due to this fact that students who pursue degrees in management of businesses or other business related courses are then compelled to pursue certificate or diploma courses in business Analytics. Having said that, these courses are still very beneficial to these students as they are able to give an essential boost to their business careers. Experts suggest that to enter the business analytics course one must have a very significant quantitative aptitude as well as a quantitative background. This means that you must have studied a lot of mathematics not just at school level but even during your graduation courses. The mathematics that you studied should be such that it was significant enough that it could help you in analysing and interpreting the business data.
Once this has been completed by the candidate then they must move on to the advanced tools which are being used by the companies today to assess their business information. This way the students get accustomed to the skills of the past as well as the modern skill sets. This is a field where advancements keep on taking place every now and then. Therefore apart from being a good student at the Educational level the person who is willing to enter the business analytics field must be someone who has an open mind and has curiosity to learn new things.