Business Analytics From IIM Kozhikode

“Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway,” Geoffrey Moore, an American management expert & organizational theorist.

In the last few decades, a lot of emphasis has been laid on the importance of data and information in modern-day businesses. Businesspeople, management pundits, corporate commentators, authors, etc., have talked immensely about the gravity of data analytics in the recent past. This has coincided with the rise of corporates across the world, substantiating a deeper relationship between the two.

Business analytics is a set of techniques, disciplines, strategies, and technologies used for analyzing a large chunk of data to better the performance of businesses. This involves certain other factors such as data warehousing, statistics, fact-based decision-making, etc. Business data analytics is slightly different from the conventional form of data analytics in the sense that earlier large amounts of data were analyzed mainly to get insights and predictions.

This IIM Kozhikode business analytics course is designed to offer comprehensive knowledge of how businesses make decisions based on statistical studies and data science. With an aim to develop a foundational understanding of data analytic techniques, the course includes some real-time applications of facts and figures across industries.

Also Read: Business Analytics – Meaning, Importance & Scope

What is the Business Analytics Course by IIM Kozhikode? 

Organizations’ appetency for data and numbers has created demands for professionals who can manage their analytical aspects. Today’s market is in the hunt for business analysts more than ever. IIM Kozhikode intends to prepare executives for the bigger roles they will play in the data-driven corporate sphere. This business analytics course would impart candidates with thorough learning of data analytic procedures.

The 5-month course helps participants get acquainted with the bigger picture of how businesses work in modern times. Through detailed learning of the complex structure of decision-making in today’s corporate domain, you will have a practical understanding of using data analytics to promote businesses.

Also Read: Role of Analytics in Business Management

Reasons to pursue Business Analytics Course in 2022

There is no denial in the fact that scores of aspiring young minds are opting for a career in the field of business analytics. One of the reasons behind this can be the surging significance of the data-based techniques. If you are among those aspirants wishing to become a driving force behind this highly sought-after field, wait no more and sign up for the IIM Kozhikode course. Here are some of the reasons you should attend the business analytics course and pursue a career in this sphere.

• Studying data analytics is the maiden step towards making a mark in the field.
• The course is a gateway to getting acquainted with the critical concepts of business analytics and research.
• From statistical inference to data visualization and from machine learning techniques to data processing, various aspects of business data analytics will be discussed during this course.
• In the company of professors and industry experts, candidates will hone their analytical skills through in-depth learning.
• Talentedge offers all participants access to its SLIQ cloud campus where you can ask questions and raise your queries directly with the professors.
• Talentedge’s business analytics course by IIM Kozhikode is known for its advanced blended curriculum, which is an amalgamation of practical as well as theoretical modes of learning.
• Professionals signing up for the program will have the opportunity to get acquainted with the critical concepts of research-based analytical learning, along with their applications in industry-specific scenarios.
• After 5 months of attending the course, you will receive a certificate of completion from the Indian Institute of Management, Kozhikode.
• Not just in your career but also in your personal life, this IIM online course will be extremely fruitful.
• In addition to the analytical and data-based knowledge, the business analytics course also intends to better your understanding of customer relationship management and marketing management.

Also Read: Applications and Benefits of Business Analytics
 

Eligibility Criteria for IIM Kozhikode online course in Business Analytics

Education

• If you are an Indian Participant, you need to have at least a Graduation degree (10+2+3) or Diploma certificate (only 10+2+3) from a recognized University (UGC/AICTE/DEC/AIU/State Government) in any discipline
• International candidates have to present graduation or equivalent degree from any recognized University or Institution in their respective countries
• Proficiency in English, spoken & written is a must for attending the IIM Kozhikode business analytics course
   

Pre-requisites

• Knowledge or familiarity with basic statistics, analytics, and statistical software will be useful but not mandatory for the Program.
• Pre-readings will be circulated and an introductory run on elementary concepts will be introduced in the initial sessions of this program. Participants are expected to go through the pre-reads and come prepared for the classes as instructed.
   

Work Experience

• A minimum of 3 years of work experience is required to attend this course.

Also Read: How to Choose the Best Business Analytics Certification in India?

Skills Required to Pursue IIM Kozhikode Business Analytics Course

A blend of hard and soft skills, business analytics is different from being just a training-based field. It is rather more about one’s innate potential to read people’s minds, incorporated with working experiences and a touch of technical expertise. This might be one of the reasons why career scope after the IIM business analytics course is broadening and blossoming. Let’s now come to the point and look at some of the skills you should have before making a career in the field of business analytics and statistical science.

1. Managerial skills: Data gathering is a team process. Be a leader and plan your strategies in consultation with the team members. You should be good at guiding the workforce and ensuring the projects are completed on time.
    
2. Financial planning: Since the core of every business is financial growth, a business analytics executive should learn the art of managing the financial aspects of the company. This task includes cost-cutting, profit management, marketing analysis, etc.
    
3. Technologically informed: In the modern business environment, technology has become irreplaceable. Most of the data and numbers come from online surveys. You should be good at understanding technological advancements and bringing stats into applications.
    
4. Problem-solving skills: Businesses are bound to come across several problems. As a professional in this field, you have to use your logical thinking and predictive analytics skills to show your organization the right path towards success.
    
5. Inquisitive: Professionals in this field should have the curiosity to learn new things and be updated with new trends and ideas. The deeper you go into the ocean of analytics, the more layers of business solutions you will uncover.
    
6. Critical thinker: You need to think critically if you are a business analytics professional. From collecting data to analyzing it to implementing the strategies, you have to be good at out-of-the-box thinking.
    
7. Decision-making skills: While handling data, you often need to make certain critical decisions, for which you have to be ready. This requires the confidence of the utmost level. You should be self-assured about what your strategic planning is going to be.
    
8. Analytical skills: In order to excel in the field of business analytics, you have to be good at handling data and numbers. Before you set foot into the world of analytics management, make sure you have analytical skills and a better sense of handling big data.

Also Read: Improve business performance with Business Analytics
 

Key Duties and Responsibilities of a Business Analyst 

In today’s business sphere, data and statistics are no less valuable than gold. Thus, the significance of those who manage these becomes even greater. Talking about the last couple of decades, in particular, business analysts’ importance has grown tremendously. Let’s talk about some of the key roles and responsibilities a business analyst plays in an organization. After completing this IIM business analytics course, you will be ready to perform these roles efficiently.

Also Read: Difference between Big Data and Business Analytics
 

1. They understand the core business model and how it works.
2. Keep note of the budgeting and forecasting.
3. Gather online data and feedback to strengthen the analytical process.
4. Understand the ever-transforming business world and get a hang of past & present trends.
5. Make proper interaction with customers through a well-defined feedback system and understand their inputs to implement while making strategies for the future.
6. Spot areas of improvement through data analysis and try to develop and implement solutions.
7. Talking to various stakeholders and discussing the way ahead.
8. Provide leadership to the company, along with coaching and training other team members.
9. Maintain cost-efficiency and monitor project completion.
10. Update the working principles according to the business needs and requirements.
     

Also Read: Advantages & Disadvantages Of Business Analytics

Jobs and salary after completing business analytics course

Data analytics and statistical management is a highly opportunity-rich field. Most of the professionals after completing the business analytics course by IIM Kozhikode are earning heavily in various Fortune 500s across the world. Let’s first look at some of the jobs available in the field.

• Data architect
• Executive statistician
• Financial analyst
• Personal financial advisor
• Project manager
• Operations analyst.
• Supply chain analyst.
• Business analytics specialist.
• Chief data officer (CDO)
   

According to a survey, a Business analyst executive having more than 4-8 years of experience earns around 9 to 10 lakhs rupees. The average salary of Senior Business Analysts (with over 8 years of experience) is about Rs 14 lakhs. Analyzing the huge opportunities in this sector, it is safe to say that sky is the limit going further.

Also Read: Trends in Business Analytics 2021

IIM Kozhikode Business Analytics Course Curriculum - 2022

• Fundamentals of business analytics: The IIM business analytics course puts a big emphasis on giving candidates a detailed knowledge of how data and numbers work in businesses. You will get acquainted with the foundational theories of the field. How to identify patterns using past and present data is what you’ll gain expertise in. The topic also includes the study of basic statistical methods.
   
• Data analytics tools: Learn about the techniques of analyzing data and trends while undergoing extensive training under industry experts with a rich experience. The concepts of data preprocessing, data visualizations, and writing algorithms in the context of business will be dealt with in detail during the business analytics course.
   
• Types of analytics: Various types of business analytical methods are taught in the IIM Kozhikode online course. It’s an opportunity to learn how to apply descriptive, diagnostic, prescriptive, and predictive analytics. Understanding these techniques helps in managing marketing campaigns in a better way. This module also includes regression techniques, logistics management, tree-based methods, ensemble models, time series analysis, etc.
   
• Advanced analytics: Become a master in applying the advanced model of analytics. From dimension reduction techniques to clustering techniques and from conjoint analysis to social media analytics, you will get a hang of different types of analytical approaches while attending IIM Kozhikode’s business analytics course.
   
• Applications: The application module focuses on how to bring various techniques of business analytics into implementation. Candidates learn about customer and retail analysis, financial analytics, supply chain analytics, HR analytics, etc. This covers a wide range of practical as well as theoretical aspects of business analytics.
   
• Capstone project: The capstone project is an integral part of this course where participants will have the opportunity to identify a real-life scenario of an organization/industry, gather data, and put that into exercise. This prompts practical application of the subject, enabling candidates to be ready for bigger responsibilities they are going to face in the future.
   
• Campus component: At the end of the program, participants will experience a 2-day on-campus immersion session at the IIM Kozhikode. It is an experience of a lifetime for candidates where they will interact with professors and industry experts to gain real-world experience. Their inputs will be of tremendous value in your career.

Also Read: Role of Analytics in Business Management
 

FAQs for Business Analytics Course

Q. What is business analytics?

Ans: Business analytics is the science of using statistics, data, and technology to analyze a company’s past performance and gain new insights for future decisions. In the corporate world, it is defined as a set of techniques and processes that help in analyzing big data for improvement in business performance. This also helps in building mathematical models that help in arriving at strategic decisions based on facts and figures.

Q. Which course is best for business analytics?

Ans: If you are interested in making a career in the field of business analytics, you can look for either a regular degree program or an online course. Many college graduates opt for PG courses from prominent institutes. However, if you are a working professional and want to advance your analytical skills while continuing your job, signing up for the IIM Kozhikode online course in business analytics would be a great idea. You can also lookup for many such programs on Talentedge’s website that suit your learning expectations.

Q. What are the 4 types of business analytics?

Ans: Business analytics can be split into mainly four interrelated elements. All of these play distinct roles in different circumstances.

1. Descriptive analytics: It is about analyzing past trends and historical data while capturing the present market state.
2. Diagnostic analytics: This analytical approach helps in detecting issues in the business pattern and making the right decisions ahead.
3. Predictive analytics: Analyzing the results of past and present trends, predictive analytics helps in making future predictions.
4. Prescriptive analytics: As the name suggests, prescriptive analytics talks about offering solutions for the future after finding some faults in the current trends.

Q. What do you study in business analytics?

Ans: The field of business analytics requires one to have a diverse set of skills. For this reason, courses in this subject cover a wide range of topics from retail analytics to finance analytics and from data processing to statistical inference, almost all elements of business marketing are included in the course. Candidates also study the use of data and analytics in the business sphere.

Q. What jobs can I get with a business analytics degree?

Ans: Studying business analytics lands you in the region of multiple opportunities. The market is searching for individuals who are dexterous in playing with data and applying it to achieve business goals. Some of the popular jobs you can get after completing a degree or course in business analytics are data analyst, project manager, machine learning engineer, statistician, etc.

Q. What are data analytics used for?

Ans: Data analytics are used in almost all fields you can see around, from supply chain management to online shopping and from healthcare to manufacturing. Without data analytics techniques, it is impossible for a business to survive. It helps in effective decision-making in a company, leading to better outcomes. Data analytics also makes the marketing process more efficient and accurate. Talking about customer relationship management, data plays a significant role. Operation is another field where statistics management comes to the rescue.

Q. What are the benefits of the IIM Kozhikode business analytics course?

Ans: Talentedge’s business analytics course by IIM Kozhikode comes with a lot of advantages. Since you can attend this course from the comfort of your home, there is no need to quit your current job. Getting a certificate of completion from one of India’s premier B-schools, IIM Kozhikode is another aspect you should consider while signing up for the program. This course is quite popular among aspiring entrepreneurs, since it helps you draw a complete data-driven picture of the current business scenario in India and across the world. An amalgamation of theoretical and practical learning is what you will experience in the business analytics course.

Q. Is business analytics a good course?

Ans: Without the shadow of a doubt, business analytics is currently among the most sought-after job fields. If you are aspiring to make your career a flourishing one and want to stay relevant for a long time across industries, the business analytics course is probably the best option. In addition, since it is all about understanding the number game, one can use skills learned here in various other places.

Q. How can I get admission in IIM for business analytics?

Ans: For getting admission to all IIM courses, including the business analytics course, you need to take the Common Admission Test (CAT). You need to go for the stipulated procedures of the Indian Institutes of Management. However, if you want to pursue the course in online mode, signing up for the Talentedge’s Professional Certificate Program in Business Analytics is worth considering. This way you can get a certificate of completion by IIM Kozhikode.

Q. Which skills will I acquire after completing the business analytics course?

Ans: After completing the business analytics course by IIM Kozhikode, candidates will be able to make critical decisions based on proper facts and figures. The IIM online course is also fruitful in learning how to process historical business data and identifying trends for framing future business strategies. Your communication skills and problem-solving expertise will also be honed during the course. Candidates with a certificate in this course are handling big data analytics and statistical programming in various industries across the world.