Business analytics is used by companies to derive insights from terabytes of data and automate and optimize business processes. Data has become one of the biggest assets and companies deploy business analytics to predict future outcomes, find patters and relationships and perform statistical analysis. Though the job roles of BA and BI are used interchangeably, there are some key differentiators. The major role of a BA is – data mining, statistical analysis, predictive modelling and multivariate test. Business Analytics career in India has emerged as the preferred role of choice in IT and ITES industries.
The Business Analyst is also required to support decision making roles with real-time analysis. Business Analysts also work closely with the senior management and provide support in data-driven decision making that impacts matters related to product development to marketing. In this article we tell you how to start a Business Analytics career in India.
There is a continued strong demand for business analysts especially in India where candidates (also those with an MBA) can land opportunities in IT and ITES industries. According to a LinkedIn article, India has at least 1.2 million business analysts and by 2020 India is pegged to have the highest number of business analysts. Some of the major sectors where Business Analysts have a promising start are retail, banking, healthcare, ecommerce, hospitality, manufacturing among others.
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Kick-start a Business Analytics career in India
One of the most promising career paths in IT today, the job description for business analysts sometimes converge analytics and project management roles. If you are interested in a Business Analyst role, a background in mathematics and engineering is a must, backed by good analytical and communication skills.
However, there are those who believe candidates with a business background can also make a career in BA. By upskilling themselves with short online courses, these candidates can also get a good grip on business analytics and start a career.
Be absolutely sure of the choice of your career and get a good understanding of the lay of the land (in this case, data and analytics)
Skills required by Business Analytics candidate: A Business Analyst should be proficient in applied statistics, have knowledge of statistical suite such as SAS, R, SPSS, should know SQL, Hive, knowledge of testibg framework and a working knowledge of BI tools such as Qlik, Tableau, Spotfire among others. Skills may vary depending on the organization’s requirement. However, this is a basic knowledge framework required for making the cut.
How can candidates with a business background start a Business Analytics career in India?
While most engineers gravitate towards the data engineering and information management field, candidates with a business background can easily transition into the Business Analyst role. MBA holders can sharpen their skills by a) enrolling in analytics courses, b) participating in mentoring sessions and boot camps to lands their dream job. And though companies don’t expect deep knowledge of tools, a basic understanding of R and SAS can help in landing the right job. Some of the basic attributes are strong business and analytical skills.
Job opportunities for Business Analysts: A good knowledge of domain area and with an understanding of analytical tools and exposure to database management can lead to a promising career in Business Analytics. From leading financial institutions, to consultancies such as Deloitte, E&Y, and global retailers Target, Walmart and online leader Amazon require Business Analytics professionals.
Payscale: One of the most sought after jobs, business analysts have a rare blend of business and analytical skills and are rewarded with good pay packages. The average salary of senior business analyst is INR 859,025 per year according to Payscale. According to Glassdoor, the average salary of Bas is INR 6,44857 per year.
- Tata Consultancy Services
- GENPACT –
Some of the startups that provide an excellent opportunity to pursue Business Analytics career are Fractal Analytics, Mu Sigma Analytics and AbsolutData.