Business analytics is one of the major areas in MBA and quite popular among the students. If you are planning to pursue higher studies in this particular field, you will be presented with a wide number of opportunities and rise in the career ladder at a great pace. Listed below are the career options that you can pursue after attaining a degree in this field:
Data scientists use mathematical and technological methods in their work and extract insights to make reports and predictions. It is one of the best professions, and as the demand of data scientists is rising day by day, the salary prospects in this profession are also high, making it a high paying job. You will be paid as per the industry that you are stepping into and the current demands of the industry.
Business analysts are responsible for analyzing the business aspects in-depth, the manner in which functions and everything that revolves around it. As an analyst, you are required to go through all the requirements of the business right from marketing, finance, advertising, accounting, supply chain, and many more in order to extract insightful knowledge and make sure that you show improvement in every aspect of the business. As their work includes expertise in each business department, mostly large-scale companies tend to hire such people. Moreover, you can also choose to work as a freelance consultant.
Market analysts need to be aware of the industry in which the business is functioning. The main job of such professionals is to get in-depth insights among their customers and competitors. Moreover, they need to be able to introduce data collection methods such as reports, surveys, and data organization which need to be presented to the executives for further use. Based on the reports that are generated in the management, you can start making plans for the industry, and the customers will get an in-depth understanding of their competitors. The pay bracket for such professionals is also good.
A lot of data is generated in the medical field as well, and in order to ensure that the data collected is correct, you need expertise from a healthcare analyst. One of the main jobs of an analyst is to compile, sort, analyze, and collect the medical data and use it for the benefit of the patients. It is important for healthcare analysts to be experts in computer programs that are meant for analytics. This is an important job that helps in improving the overall conditions of the patients and ensure that they are safe.
IT analysts happen to keep a close eye on the IT infrastructure in a company. IT analysts are responsible for maintaining the systems and ensuring that there is efficiency at the organizational level, and high performance is achieved. IT analysts help in redesigning the new system and ensuring that they improve on current systems. They are also responsible for running the IT operations of the company.
Quantitative analysts are responsible for having expertise in statistical and mathematical methods for data collection, interpretation, and collation. The job is majorly concerned with risk management and finances. Moreover, they are also responsible for providing insights into a wide variety of businesses that tend to work in investment. These methods are mostly according to the findings and hard data, which need to be extracted in an accurate manner.
These professionals are responsible for analyzing the computers in the organization and need to have knowledge of the software and hardware. They also need to make sure that their systems run at their best, thus allowing them to perform the office tasks smoothly. They are also responsible for upgrading the systems and creating new ones from scratch. Moreover, they need to act as a bridge between the IT and business departments in a company.
Predictive models are programs that are meant to make predictions based on the data that is fed into them. Moreover, such professionals need to be experts in technology, analysis, and statistics and use the knowledge generated to make predictions based on the data that is fed into them. This profession is an upcoming one and becoming popular quickly. Moreover, the salary prospects are also great in this particular profession.
As a project manager, you are responsible for heading projects and ensuring that you head the projects. This position is basically about managing the projects and understanding and analyzing the tasks at hand. As a manager, you are required to delegate the work to the members accordingly. You also need to make sure that you keep the members motivated so that they work properly and finish the project on time.
Companies are dependent on technology and require the services of the technology analyst. They need to do a complete analysis of operational technology and need to make improvements in the technology. Moreover, they are also responsible for upgrading the technology, thus ensuring a complete overhaul. You also need to be mindful of the time and costs that are involved in the project. Moreover, you need to have excellent technical knowledge. The salary prospects of such professionals are also good.
Statisticians mostly work with the data and make sure they collect it through technical, mathematical, and scientific methods. They are responsible for sorting and arranging the data according to the specific requirements specific to the task and present the data in more understandable charts, graphs, and presentations. Statisticians often find work relevant to both the public and private sectors. The work that is done by them is used for other experts to gain insights and make predictions and reports. The salaries of such individuals can vary depending on the industry they are in.
Hope you are now aware of the wide opportunities that lay ahead of you if you pursue MBA with specialization in Business Analytics and choose your path accordingly.
Jul 09, 2020