Over the last three years, there has been a huge demand for data analytics certification programs among both job seekers and employed professionals. The reason is simple – analytics is a new-age skill that every organization is seeking among its workforce.
The explosion in big data and rapid growth of various technologies such as cloud computing, machine learning and artificial intelligence has made analytics an even more important field to master. Analytics is the new frontier, leveraging which organizations can interpret data, predict challenges and outcomes, and formulate robust strategies to combat to cope with the dynamic economy. It is pervading all fields – finance, marketing, human resources, healthcare, travel, transportation and logistics, etc.
There are also a number of start-ups that have mushroomed in India and across the world that have dedicated analytics teams to cater to business needs. There has been a surge in demand for specialized profiles such as data science programmers, data analysts, data engineers and data architects in the industry. In fact, even people employed in traditional roles such as human resources, finance and marketing are required to learn analytics because they have a better insight into their functions.
Learning analytics can reap benefits for working professionals in various ways:
- There are tremendous new jobs and growth opportunities in analytics. However, the supply in the job market is still low. So, people with this skill have better chances to get jobs faster.
- Data is everywhere – it is not restricted to geographical constraints. It is present in every sector, industry and the world is the limit when it comes to exploring jobs in analytics. The fundamentals remain the same, so analytics can make job switches without a hitch.
- Analytics professionals can demand higher salaries. This is primarily because of two reasons – it is not a traditional job and there aren’t enough professionals yet in the market.
- Since start-ups, small-medium sized companies as well as multinationals require a workforce in analytics, you have plenty of choices to explore. Analysts can choose the company of any size depending on their current job profile or interests. If they have rich experience in analytics, they can even launch your own venture and become an entrepreneur. There are also freelancer opportunities available!
Basically saying, analytics is the future. Sooner you embrace, the better it is for your career. If you are planning enrolment in data analytics courses, do note that there are various categories to choose from – predictive, descriptive, diagnostic and prescriptive. Take up a course which is relevant to your qualification, skills or job profile.
The amalgamation of technology and data has become a complicated one. With a massive amount of data being generated today, professionals are required to stay on their feet when it comes to business analytics. It helps in improved performance, better decision making, and the works. However, it requires an extensive amount of training and a unique skill set. For now, let’s see how it assists in improved decision making.
Business Analytics: The Pathway to Improved Decision Making
Be it supply chain, operational processes, research, or managing risks, business analytics has diverse applications. In fact, it is now emerging as the keystone of strategic business decision making. From enabling businesses to make customer-centric decisions to help them address critical operational inefficiencies, business analytics is drastically transforming the perception towards the importance of data.
How business analytics supports decision making in businesses?
Provides a Better Customer Experience
Analytics plays a significant role in decision making as it helps discover patterns from both employees as well as customers, allowing leaders to understand and interpret their interactions. This allows the leaders to work with the relevant departments to enhance the overall customer experience.
Improves Overall Performance
By analyzing data, businesses can delve deeper into business operations and their efficiency. This not only helps maximize time and resource allocation but also ensures better performance across the entire company.
Makes the Most Out of Consumer Patterns
Companies using customer behaviour insights are outperforming competitors by 85% in sales growth. – Mckinsey
In an increasingly customer-centric era, organizations are being forced to collect and analyze consumer information and data concerned with their behaviour, interests, etc. To remain competitive, businesses must leverage consumer insights to redefine their marketing and sales strategy.
Conducts Better Risk Assessment and Management
Another key area that business analytics lends a hand is risk assessment and management. Whether it’s related to structured data or unstructured, analytics help forecast potential issues and threats. So by using this data, you can improve decision making in a crisis, eradicating the reactive style of management completely.
How Does This Affect Professionals?
With evolving technology, the job of business analytics professionals has become challenging. Honing skills and updating knowledge is the only way forward, and since pursuing an MBA every time some new trend enter the market is not feasible, pursuing analytics online certified courses are the ideal choice.
Understand and Accept the Change
The world is going digital, be it sales, marketing, content, or education. For an in-depth knowledge into the business analytics domain, consider pursuing analytics online certified courses. One such course covering a wide array of skills is the business analytics online program from IIM Kozhikode. The program can’t equip you with the latest analytics tools, assisting in better decision making.
With a strong foothold in data analytics, you can not only build your organization’s performance but also facilitate growth. So, enroll for the business analytics online program from IIM Kozhikode today and make your way to a career in advanced business analytics.
More Information:
How will the analytics industry look in 2022?
Decision making in Human Resource Management
How to Initiate a Career in Business Analytics in 2022?
Growth & Opportunities for Digital Marketing Professionals in 2022
Global Master Certificate In Business Analytics from MICHIGAN STATE UNIVERSITY
