Big Data is a set of data that is huge in volume. It is growing exponentially with time. It is data with such a large size and complexity that none of the conventional data management tools can store it or process it efficiently.

It is the most valuable possession of a company and includes important information about the company.

Coming to business analytics, it is a method to utilize the big chunks of big data and convert it into useful information, recognize and predict trends and outcomes, and ultimately make smarter, data-driven business decisions.

Analyzing and channelizing such a vast amount of data in the right direction to get the optimum outcome from a specific business is the primary idea behind business analytics.

What Business Analysts Do?

Business analysts study a considerable amount of data and formulate conclusions on business performance. Their primary task is to bridge the gap between managing a particular business company and the complex data and technical systems.

They help in the company's decision-making after considering all the data and improving the overall improvement in the company's profit margin.

They understand the stakeholder's requirements and translate them to the developers to work as per the demand.

A business analyst's job ranges from Descriptive Analytics, Predictive Analytics, Discovery Analytics, to Prescriptive Analytics.

Graphic Processing Units or GPUs are an integral part of making AI aided machines. They are high-end graphic cards. GPUs can simultaneously process many pieces of data and can be used as a discrete hardware unit.

In descriptive analytics, the candidate must make a comparative study of the factual data from the past and the present. This domain of the work focuses on the development made by a company in a particular period.

Predictive analytics involves providing insights into the events which will take place in the future. It focuses on the probability of an outcome based on the data studied to conclude a trend.

Vast chunks of data are stored in the database of a particular company. The data thus stored has likely trends which could be necessary for the future growth of a company. Discovery analytics is the domain which identifies these trends and employs them in different business activity.

The prescriptive analysis is the final step in business analytics. It included the results of the various study of sets of data. Predictive analytics and discovery analytics are finally arranged and put to use the products of descriptive analytics.

Everything is considered, and the best possible solution is rendered for the company.

Most organizations are investing in the business analytics sectors. It is the most critical aspect of the overall growth of a company. The demand for data-driven and scientific methods for making decisions is required for every small and big organization.

How Do I Become A Business Analyst in India?

The question How to become a business analyst in India can be answered as follows.

The fundamental requirement for making a career in analytics is to possess exceptional in-depth knowledge and mathematics and statistics skills.

After completing your bachelor's degree in a technical background, you can do a certified business analyst course to kickstart your career in analytics. Even candidates from a non-technical background can opt for the course; however, an engineering background is expected.

The demand for engineers in business analytics jobs is because it is gradually becoming more technology-oriented.

If you have completed post-graduation, you can opt for Business Analytics through a certification course. The demand for an MBA degree holder is more in this case.

If you are a software engineer, i.e., a working professional and have good data mining skills and analytical skills, a certificate obtained from a Business Analyst Course can make you earn your dream job.

One also needs to have proficiency in various programming languages like SAS, Hadoop, R, and Python. An analytical mindset and excellent communication skills will give you an added advantage over others in this career as a Business Analyst in India.

Negotiation and persuasion skills and the ability to use Intelligence and Visualization tools like Power BI and Tableau will give you an added benefit.

With a very fast upsurge in India's corporate sector, there is a demand for business analysts with significantly less skilled candidates to fill the demand. Hence, with the correct skillset and the understanding of the subject, one can start one career as a Business Analyst in India.

Why Are Business Analysts Important?

A business analyst provides the company with methods to achieve its operational objectives within the resources available.

The importance of a business analyst lies in the fact that they help in a company's growth.

They play a significant role in doing a study of the time-to-time growth of a company. The conclusions thus made are not just random.

They are data-driven and hence very trustworthy. The business analysts help make future decisions for the company, which should be relevant to an organization's overall growth.

Major Components of Business Analytics

To begin a career in business analytics, you have to understand its main components and the job profile.

The main components are as follows:

Define Objective:
This is the primary step. One needs to map the requirements before starting any analysis. The foremost understanding of the problems which need to be resolved is to be identified.

Data Aggregation:
Before the start of the analysis, data needs to be segregated. The data concerning various sources are combined with having one large dataset on which the analysis is performed.

The data is transformed according to the business requirements and increases its compatibility with the tool used.

Data Mining:
Data mining for business analytics scans through large data sets by employing different databases or machine learning to recognize the trends and draw conclusions.

Data cleaning:
Data cleaning is an essential step. The data which is studied sometimes contains unnecessary bits of information. This raw version of data is not directly useable- hence needs to be cleaned and made compatible.

Association and Sequence Identification:
The suitable predictive models are used, and their evaluation and validation are conducted to identify the sequence of data and associate it with a trend.

Text Mining:
This steps studies and gathers many unsorted texts to make a qualitative analysis.

Forecasting:
Forecasting is the study and research of previous data stored in the database to make future predictions about a particular trend.

Predictive Analytics:
This step uses different models to predict a data set pattern extracted from a database to identify various patterns and provide a judgment on an array of data that analysts can use to draw inferences.

Optimization:
After the trends have been spotted, the necessary action opts for a business's maximum outcome. Different experiments are being carried out to find the worst-case and best-case scenarios, and potential action is taken.

Data Visualization:
Charts and graphs make the analysis much easier since it makes use of visual components. Visualizing the data plays a significant role since it allows the analysts to quickly view the company's current standing and make a comparative study.

Career opportunities in Business Analytics

Business Analytics Jobs are in abundance now since there is a shortage of well-skilled professionals. Since the demand is not met with the supply, this is the right time to start your career in business analytics.

Job Opportunities in Business Analytics are as follows:

• Data Architect
  

  Data Architects use different tools to generate a database accessible to all the employees of a company. A data architect needs to be updated from time to time to serve as problem solvers.

  If you want to be a data architect and build your career in analytics, you need to have a degree in computer science with essential analytical and applied mathematics skills. The salaries of business analyst in India are considerably high and promising.

• Chief Data Officer
  

  A chief data officer's primary task is to draw insights from a specific set of data and use it to optimize the company.

They tap data and employ innovative techniques for the maximum output of a company.

It is a high position job and requires a specialized master's degree and ten years of data analytics experience.

• Data Analyst
  

  The data analyst is responsible for performing business as usual tasks related to Business Analytics such as generating reports etc.

  Suppose you are an engineer in Information Technology or Computer Science streams and want to begin a career in business analytics. In that case, the role of a data analyst is best suited for you.

  It has a vast scope in almost every industry present with promising growth in your business analyst career path.

• Market Research Analyst
  

  The main job of a market research analyst is to identify the growing trends in the market. Their primary interest is in the customers' satisfaction, which is achieved through the proper delivery of products by an organization.

  A bachelor's degree in business administration or marketing with exceptional verbal, documenting, and reporting skills is required in this career in analytics.

• Data scientist
  

  A data scientist's job is to study big chunks of unsorted data and make meaningful conclusions to improve its business strategy.

  They must implement an analytical model into a specific business and increase the business unit's overall working.

  A good hold over programming skills and analytical skills will give you an added advantage in this business analyst career path.

• Statistician
  

  A statistician uses mathematics and statistical tools to solve real-life problems. They analyze unsorted data from various surveys and polls to help an organization deliver the best of their ability.

  A bachelor's or master's degree in mathematics or statistics is required for these career opportunities in business analytics.

• Chief technology officer (CTO)
  

  This business analyst career path needs an in-depth knowledge of present technology trends in the market. They find innovative ways to implement these trends in building business strategies.

  Chief technology officers are proficient in strategic thinking and conducting technical analysis to stay up to date with the growing trends and implementation methods required for any organization to be advantageous.

  Strong leadership and organizational skills are essential in this role career in analytics. You will be required to decide which tool should be used to give the company the best result.

• Machine learning engineer
  

  Machine learning engineers frequently possess a mathematic, physics, or statistics undergraduate degree with specialized masters or PhD.

  Their main job is to help the organization's data science team develop programs and create algorithms to deliver data-driven products.

  They also help generate services that permit machines to make decisions, take action and heighten the user experience without any human interference. These operations are externally controlled with the help of various algorithms.

• Project manager
  

  The main job profile of a project manager is to look into data specific projects.

  They guide the entire project from the very beginning to the end to meet deadlines and the client's expectations.

  It is a highly paid job and requires the candidate to shoulder a massive amount of responsibility. The growth and improvement of the company are dependent on a project manager.

  The job of a project manager is highly paid and requires good decision-making skills and analytical skills.

• Principal data analyst
  

  A principal data analyst heads a team of many data analysts. They are responsible for making the right decisions for a company.

  They also acquire an intricate understanding of an organization's business needs and use the data analysis details to strategically guide their organization to reach its unique goal and stand out in the competitive market.

How to Start A Career in Business Analytics?

There are two possible ways to start your career as a Business Analyst in India. Firstly, you can join a company that trains you as a business analyst or can take up a certified business analytics course.

Companies that train you as a business analyst give you a more practical approach to the subject which is helpful in the long run. It enhances your experience and makes you learn directly with hands-on experience.

If you are opting for a certified business analyst course, there are two possibilities.

First, if you are a working professional, then various leading academic institutes run certification courses, and you can join a suitable course.

If you are still a student, you can start from the very basic and take up similar courses.

To stand a bit advanced from other candidates, go through web materials and gather all information on the relevant topic. Try different internships to increase your experience and attend webinars on the subject.

• Business analytics comprises a more static and comparative study of the data, whereas data analytics is a higher explanatory analysis.
• Business analytics involves data to identify problems and solutions but does not include performing a deep technical analysis of the data. They operate at a conceptual level and are concerned with the business connections of data.

  On the other hand, data analytics is based on collecting raw data from various sources, cleaning and transforming it, and applying a range of specialized techniques to extract useful information and develop conclusions.

• Business analytics is a subset of computer science and management, where the study of data is done by using different methods and technologies. On the other hand, data analytics includes the entire technological field, a superset of Data Science.

Job opportunities in Business Analytics

Job Opportunities in Business Analytics is vast under the growing opportunities in the corporate and IT sector. The demand for business analysts is very steep, and there are no expectations for this market to drop.

Since one can employ analytics in varied industries in many roles, there is a surplus of opportunities in banking sectors like Banking, Retail, Textile, Healthcare, Automotive, etc., for a career in analytics.

There are many new jobs in the market, but the growth of Business Analytics Jobs is fantastic.

Career opportunities in business analytics have skyrocketed in recent years. Most companies are looking for freshers in this sector with less than five years of experience.

Although business analytics have application in almost every sector, the corporate sector is making appreciable growth in this matter.

The top companies in the market you should look into if you are trying your career in analytics are:

• Mu Sigma Analytics :
  It is one of the largest companies in the data sciences and business analytics sector.

  It helps businesses strike intelligent decision making through their best and accurate data analytics solutions.

  MuSigma works in various fields but specializes in-demand analytics, marketing analytics, network planning and optimization, and risk analytics.

• Fractal Analytics :
  This company was established in 2000. They provide analytic services in the sectors of hospitality, healthcare, retail, BFSI, and technology.

  They offer an average salary of INR 7 lakhs per year. If you are a senior in your career in business analytics, they offer a salary of INR 9 lakh and 80 thousand per annum.

• Manthan :
  They provide an analytic solution for retail-based and consumer-based businesses. They offer a pretty high salary package and is an excellent way to grow your business analyst career path.
• Latent view :
  This company was founded in 2006. They are based in New Jersey and provide predictive analytics solution.

  Their range of analytics solutions includes business analytics, marketing analytics, risk and compliance analytics, supply chain analytics, and data engineering.

• Absolutdata :
  It is an ISO 27001 certified company founded in 2001. They are revolutionizing the conventional analytical method by following a diagnostic methodology and joining the sector of technology, complex data, and advanced analytics into one.

  Their brand NAVIK is gaining popularity by the day.

• Cartesian Consulting :
  This company was founded in 2009 by Sandeep Mittal. In just ten years, it has become a well-known name in the Business Analytics Jobs market.

  Cartesian Consulting is a mix of marketing and analytics. Their fast approach of applying advanced analytics into a business setting and devising a result from it is the most needed tool in the market.

• Tiger Analytics :
  The company was founded in 2011. It was a result of a joint venture of data science researchers and practitioners in Silicon Valley.

  Their domain of work is customer analytics, marketing science, and operations and planning analytics.

• Global Analytics :
  Global Analytics was founded in 2003. A well-known survey included it among India's top 50 analytic companies.
• Gramener :
  The company was founded in 2010. It uses data visualization and analytics to get the critical insights of an organization for its betterment. They are pathfinders of Data Visualization in India and have been listed 8th in Deloitte 50 Fast Technology Companies of India 2015.

• BRIDGEi2i :
  This company was founded in 2011 and is renowned throughout the world.

  They specialize in the domains of analytics solutions for sales, supply chains, marketing and risk functions. They have worked with many famous clients, like many Fortune 500 companies, which adds to their accolades.

Business Analysts Salaries in India

Salaries of business analyst in India are pretty lucrative. The job has an average pay scale across the country of INR 6 lakh and 80 thousand. .

However, with the right amount of growth in a business analyst career path, the sum can grow to as much as INR 11 lakhs per annum.

The entry-level Business Analyst salary in India lies between INR 3 lakh 50 thousand and INR 5 lakh per annum. This range is the salaries of business analyst in India with less than one year of experience.

More experience implies more salary and a higher post. If you have experience of around four years, you can expect a yearly salary of INR 5 lakh and fifty thousand.

With an experience of over five years, the salaries of business analyst in India can reach INR 8 lakhs per year.

Having more than 15 years in this field, Business Analytics has a salary of INR 12 lakhs per annum. This amount can vary based on your job profile and area of expertise.

Q&A Session

Q1. Is Business Analyst A Good Career in India?

The sector of a business analyst is still in its infant years. The job profile is not known to everyone, which makes career opportunities in business analytics huge.

The skills required in a career in analytics is not limited to any specific industry. It is widespread and hence has a dynamic work profile.

People looking for challenges in their daily work should grab this demand for business analysts.

Job Opportunities in Business Analytics is not expected to decrease soon, but it is anticipated to grow exponentially.

Q2. Are Business Analytics Jobs in Demand?

The demand for business analysts is growing with time. However, recent studies have shown that, although the market is pretty high, the supply of skilled workforce is far from steep.

Shortages in the data analysis skill sets imply that there are often more jobs than professionals to fill the post. It is estimated that this gap will eventually increase if not noticed.

It took 45 days to fill business analysis positions and 53 days to fill management-level positions in this category. That's longer than the average for other types of jobs, which means these positions are often just waiting for the right applicant.

Q3. How do I start a career in Business Analytics?

To start a career in business analytics, one has to identify whether they are suitable for the job and have the required skill set.

The candidate needs to have relevant mathematical and analytical skills with the required qualifications. Careers in business analytics are wide-ranging and varied and need fast adaptation to the ever-growing changes. .

How to become a business analyst in India can be answered based on whether you are still a student or a working professional.

If you are a student from a technical background with an avid interest in a career in analytics, you can do a certified course on the subject and start your career.

In case you are a working professional and looking for a new job perspective, you can add a new course to your resume.

Q4. What is the future scope of business analysts in India?

The market of business analysts in India is comparatively very new.

IoT (Internet of things) is the IT industry's future and is growing exponentially every day. Companies would be able to monitor their data wisely for financial gains and monetary benefits.

The demand for business analysts will grow by leaps and bounds since all companies will require a qualitative study of their progress and a more practical and scientific approach to decision-making.

To secure a career as a Business Analyst in India and grow, you must have what is required to set you a class apart.

Business analyst prospects and the scope is ever-expanding in India and across the globe. Today, most organizations rely on extensive data analysis to get valuable data insights. Hence, the recruitment spree for candidates looking for career opportunities in business analytics is high, with less plunge scope.

Q5. What is a business analyst salary in India?

The salaries of business analyst in India are very high.

A Business Analyst's salary in India depends upon certain factors like company size and stature, job position, location, education qualifications, and most importantly, experience.

The average salary which a candidate looking for career opportunities in business analytics can expect is INR 6 lakhs.

If they have many years of experience and good skills as professionals, the salary can hike up to INR 12 lakhs to INR 13 lakhs. Furthermore, this amount can reach INR 16,54,946.

The location of the job is also a deciding factor. Career as a Business Analyst in India in Pune and Bangalore's cities offer higher salaries than other cities.

Also, to achieve the long-term salary potential in the career in analytics, one needs to observe the industry reports to take the proper financial decision.

Source

Conclusion

In the 21st century, with a fast-changing economy, we can mark a fast-reforming business scenario. This ever-evolving economic trend inevitably throws new business challenges every day with increasing demand for intelligent solutions.

On one side, the up-to-date emergence of advanced and comparatively new technologies with increased business demands from the customer ends to make use of the technology.

Consequently, it is becoming challenging to impress customers with traditional business solutions. In this case, business analysis becomes essential as it brings the most effective techniques that work out smartly with business challenges—no doubt, this brings bright possibilities in future of business analyst.

Business analytics is the need of the hour. Most companies have introduced various career opportunities in business analytics and welcome freshers with less than five years of work experience.

A good business analyst should possess skills like Analytical skills, Leadership skills, Business process and Planning and most vitally, Technical Skills. Although a fresher can join this career in business analytics, business analysts can move into more senior positions with greater responsibility and influence with more significant experience and expertise.

It is the future of all industries and is expected to grow with rapid speed. Job Opportunities in Business Analytics is assumed to be the next big thing in the market with no potential competitor.

It is predicted that no other career option can compete with Business Analytics when it comes to high traversed growth, creating significant business impact and exciting learning opportunities in the daily domain of work.