Data science and business analytics are two domains that have been gaining tremendous momentum in recent years. Graduates who specialise in data science and business analytics have a lot of career opportunities to choose from, both lucrative ones.

 

  • But what is the difference between these two domains?
  • Which one would be better for whom?
  • And should students take up a data analytics online course or go for a PG certificate in business analytics?

 

Read on to find out!

 

Data Science vs Business Analytics: Key Differences

 

  1. Meaning

 

First things first: understand the meaning of each domain and what they entail.

 

  • Business analytics

 

Business analytics is a discipline of study that collects and analyses data to solve a business problem. It is the application of analytical skills on businesses for better decision making, enhanced organisational performance, and improved customer service.

 

  • Data science

 

A data scientist wields statistical and other techniques to extract knowledge from raw data (i.e., information). Hence, data science is a data-driven method that can be applied to any problem depending on the business case.

 

  1. The Work

 

Next up is the work. What will you do if you become a business analyst or a data scientist? How will your day-to-day tasks differ? Understanding this can help figure out which role is best suited for you.

 

  • What does a business analyst do?

 

A business analyst is a data-driven problem solver. They systematically identify the root cause of an issue by analysing data and suggesting possible solutions to address it. They also maintain data reports generated by various tools and keep them up-to-date.

 

Typical responsibilities of a business analyst include:-

 

  • Conducting data analysis and performing root cause analysis
  • Creating reports for decision-makers
  • Developing effective solutions by running simulations to identify the best option

 

  • What does a data scientist do?

 

Unlike business analysts, data scientists are in charge of understanding what information means for decision-making and solving problems that haven’t been thought of yet. They do this by gathering data and analysing it to find patterns, trends, associations and other insights.

 

Furthermore, a data scientist is an expert on the use of programming languages, statistical techniques, and domain expertise to extract knowledge from raw data (i.e., information). They take complex analysis that business analysts would typically do, and they make it possible to be done more efficiently.

 

Common responsibilities of a data scientist include:-

 

  • Understand data and its meaning to identify patterns, trends, associations etc.
  • Look for ways in which the data can be used as an input into more complex analysis that would normally demand human intelligence
  • Reverse engineer algorithms from scratch or other existing programs (i.e., may use python) and then find a way to derive meaningful insights from massive amounts of data

 

In retrospect, the scope of a data scientist’s work is wider than that of a business analyst because they aren’t only looking at existing data but also exploring new growth opportunities.

 

  1. The Skillset

 

Now you know the basics of business analytics and data science; you know what each domain entails and what you’ll be doing all day. Now, it’s time to dissect what you need to thrive in these domains.

 

  • What are the skills of a business analyst?

 

  • Data Interpretation

 

Businesses have to manage a massive amount of data. This is why a business analyst must have the ability to interpret data and make sense of it, so decision-makers can work more effectively.

 

  • Business Data Analysis

 

A business analyst must be able to analyse the data collected from a company’s core operations and make decisions based on that analysis. It is also necessary for a business analyst to understand how different departments function within a company, so they can see what needs improvement in order for each department to work more effectively with other departments.

 

The XLRI PG certificate in business analytics can help you develop these skills and more.

 

  • Data Visualization and storytelling

 

Not everyone understands the language of data. So a business analyst must be able to graphically represent data and information to stakeholders in a manner they can understand. By leveraging visual elements such as charts, graphs, and maps, a business analyst provides an accessible way to understand trends and patterns in data.

 

Apart from this, a business analyst also needs to possess analytical reasoning ability, mathematical skills, statistical skills, and written and communication skills.

 

  • What are the skills you must possess to become a data scientist?

 

  • Statistical analysis

 

A data scientist must be able to perform statistical analysis in order to derive insights from large datasets. This can include identifying relationships, patterns and trends among different variables or understanding the impact of certain data sets on a business’s decisions.

 

  • Machine Learning

 

Data scientists also need to acquire in-depth knowledge about machine learning techniques which will help them classify information by categorising and organising data. A data analytics online course can help you acquire the requisite knowledge and skills to thrive in this domain. So it’s worth pursuing a credible data analytics online course.

 

  • Computer science and programming

 

A data scientist must have extensive knowledge of computer science and programming skills. This is because they need to be able to program, automate tasks, analyse unstructured data sets or create models that can classify information with a high degree of accuracy.

 

These are the key skills and qualities of a data scientist. However, this is not enough to succeed in one’s career as there are many other factors that contribute to success, such as networking, experience with specific tools, or programming languages such as R, Python, etc.

 

A data analytics online course can help you understand the challenges and opportunities of big data analytics in education, finance, marketing, healthcare, etc. So you’ll have a well-rounded education in every industry and sector leveraging the power of data analytics.

 

So, What is Better for You?

 

Now you know what a future in data science looks like. You also understand the intricacies of becoming a successful business analyst. What’s more? A business analyst can transition into a data science tole with advanced training through a data analytics online course. So if you prefer a level of flexibility, consider a career in business analytics.

 

However, if you prefer a lucrative, exciting career with a more hands-on approach to business, data science is the way to go. The XLRI PG certificate in business analytics can help you if you choose to go down this career path.

 

 

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