Business Analytics is transforming raw data into compound information to help improve business operations and decisions. This provides individuals, organizations, companies and government agencies with important business advice from data analysis, data mining, forecast simulation, predictive modelling and data visualization as the primary skill for business analysis.
Business Analytics takes a data-precise approach to the business world, using data modelling statistics to help develop new business insights. It is the perfect blend of technology and business, ideal for anyone interested in handling big data sheets in businesses. It aims at using advancement to technology to business advantage, collating, sorting and utilizing data obtained from technological aspects of the business to formulate new ideas that would help scale the business to the next level.
Why Study Business Analytics?
There are various reasons and benefits to taking Business Analytics as a major, thanks to its huge advantages to the business in question. Thanks to the expansion and evolution of technology, every customer engagement and interaction carried out in cyberspace can be potentially profitable information obtained from the data trail of the conversation. This large amount of collected data and the need to process it has given rise to innovative Business Analytics, whose roles are to handle and arrange this data set using tech-savvy market strategies to uncover the hidden treasure lying somewhere between the data trail.
Although the large world of Business Analytics is yet to be fully explored, there has been massive progress in this sector ever since the proposed founder (first business Analyst) Henry Ford, who founded the automobile giants Ford Motors, notably tracked the time for each component, perfecting the assembly line technique of mass production. This was done in the 19th century and traced back to one of the first implementations of the term before it even became a term. With this, he was able to make massive progress in his production of vehicles and scale his company, which is today the sole aim of Business Analytics.
Benefits of Studying Business Analytics
Business Analytics provides a bridged gap between the present and the future in the business world. It can be largely attributed to the tremendous scale we have seen in industries compared to the last century. It possesses a unique blend of state-of-the-art tech-savvy, gifting students with great analysis, communication and leadership skills that are required of every individual today.
Studying Business Analytics puts you on the forefront link between tech and businesses, bridging the two industries to create a new powerful one by identifying and addressing trends and possible outcomes, making smarter, effective strategies and data-driven decisions for increased profitability. In the course, you would be taught various analytical methodologies used to approach the modern-day market, which includes;
This is a Business Analytical strategy applied to a company’s historical business database and its effect to help prepare and predict future possible circumstances determined by specific criteria.
This strategy is used to analyze and identify a company, business or organization’s historical business trends to recognize past impacts based on specified variables and how best to handle them.
This strategy is applied during a decision-making process to provide meaningful insights that would impact the decision of the company. Prescriptive Analytics combines both predictive and descriptive to produce anticipated specific outcomes, determining where they occur and making decisions based on results from the analysis.
Career Opportunities attached to Business Analytics
With the known importance of Business Analytic graduates in companies and industries today, there is high demand for them, thanks to the huge role they play in analyzing businesses, predicting future outcomes and making important business decisions. Be rest assured that finding work as a Business Analytics graduate would be like a walk in the part if you’re confident enough, having learned the rest skills of the course during your years of study and how to implement these skills.
This is one of those courses with advanced flexibility and great insight into various other professions cutting across large industries. This means as a graduate, you are not only limited to the course title, but you can also easily survive in various other career options. Some of the career opportunities associated with Business Analytics include;
- Data Architect
- Machine Learning Engineer
- Chief Technology Officer (CTO)
- Application Architect
- Market Research Analyst
- Data Scientist
- Business Analyst
- Financial Analyst
Choosing to major in Business Analytics and Big data is the perfect choice for those looking to succeed in the business world with a well-grounded idea in tech. It teaches the fundamentals of data analysis and how best to use this data to skyrocket companies and big industries. With the high demand for this profession, the job would never be a problem, and you get to play the hero when you help reach the company’s targets faster and easier.