Careers in Business Analytics and Data Science
Tuesday, January 7th, 2020
Introduction to Business Analytics and Data Science
Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science.
Data Science is a detailed study of the flow of information from the colossal amounts of data present in an organization’s repository. It involves obtaining meaningful insights from raw and unstructured data which is processed through analytical, programming, and business skills. As per surveys, 91% of companies are looking to expand data science expertise. Over the coming years, more than 10 Billion Dollars are supposed to be poured into data science.
Who should pursue careers in Business Analytics and Data Science
While learning Business Analytics and Data Science would help any professional, there are a few fields where the advantages would be more apparent. Especially if you are someone who has 2 to 5 years of work-ex. Here are some backgrounds that are more suited to the field of data science than others.
- IT Professionals
- Professionals with a background in statistics
- Professionals planning to add analytics / Big Data to their resume
- Management Consultants (or those planning to build a career in that)
- Business Managers with a technical background
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How to Begin a Career in Data Science?
I found this really interesting podcast/webinar on the topic. It addresses the following questions:
- What are the skills needed to be successful in data science – soft skills and hard skills?
- How does one assess if one is suitable for a career in data science?
- How does one embark on the data science journey?
Two respected professionals from the industry conducted this.
Shivaram KR,
Co-Founder & CEO – Curl Analytics
BE (ECE) RVCoE, MTech (Control & Automation) IIT Delhi
Charanpreet Singh,
Director – Praxis Business School
B.Tech (Mech) IIT Kanpur, MBA University of Iowa
It is around an hour long. Please do give it a listen.
Key Programs in Business Analytics and Data Science
While I am in no position to issue any sort of rankings, I looked at some of the important ones. Given below are some of the key programs in no particular order.
1) PGDBA by IIT KGP, IIM-C, ISI
Eligibility:
Graduate/post-graduate degree:10+2+4/10+2+5/10+2+3+2 with a Minimum of 60% marks or CGPA 6.5 on a 10-point scale in the Qualifying Degree (i.e. B. Tech./ B.E./ M.Sc./ M.Com or equivalent).
Fees: Rs 20 lakhs
Where to apply: http://www.pgdba.iitkgp.ac.in/index.php
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2) PGP in Data Science by Praxis Business School
Eligibility:
Minimum of 60% in their class X, XII and Graduation: BE/BTech/ME/MTech / MBA/PGDM / BA/MA / BSc/MSc
Fees: Rs 6,05,300
Where to apply: https://praxis.ac.in/Programs/business-analytics/
3) AMPBA by ISB
Eligibility:
An undergraduate/graduate degree in Engineering, Computer Science, Information Systems, Mathematics, or Statistics, or an equivalent qualification in any quantitative discipline.
The overall experience of at least two years; however, for profiles with exceptional academic qualifications, the experience criterion maybe waived.
Fees: Rs 9,15,000 plus GST @ 18%
Where to apply: https://www.isb.edu/lp/cee/ampba/
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