In today’s data-driven world, businesses are booming and are constantly in search of innovative methods and tools that can help drive business expansion. Thanks to the latest advancements in technology, businesses can formulate products and services catering to consumer interests. It also enables them to gain information about the current market trends as well as stay ahead in their domain. So, if you are someone who loves crunching numbers and dabbling with technology, then acquiring a PG in business analytics will allow you to marry these two interests of yours and expedite your journey toward the path of success.
So, what career opportunities can you expect with a business analytics course ? In this article, we have compiled a list of 7 different career options that you can explore with a business analytics degree in hand. So, without further ado, let us start.
1. Business Analyst:
Business analysts analyze the scope for improvement in an organization by assessing all areas of its business, such as its processes, products, and services, identify risks and vulnerabilities, and devise solutions to remove inefficiencies that can improve the overall growth of an organization. Thus, they can be called as multitasking wizards who act as analysts, problem solvers, communicators, translators, and moderators, bridging together different departments within a team and offering proper business solutions. In short, business analysts analyze data to provide technologically and financially feasible business insights that can drive business growth and lead to success.
Besides having strong research skills, a business analyst must have strong analytical and problem-solving capabilities to provide solutions for improving weak areas of an organization. They must also have excellent communication skills as they collaborate with different departments of an organization, including the IT and management teams.
Average Annual Salary: Business Analyst salaries in India range from 2.7 Lakhs to 15.3 Lakhs per year, with an average yearly salary of 9.2 Lakhs.
Where you can work: Business analysts can work in practically any industry, but most of them are employed in information technology or management consulting firms. As a business analyst, you could also find great opportunities in fields like banking, finance, retail, and healthcare.
2. Data Analyst:
Data analysts gather and analyze data to retrieve actionable insights, which can assist organizations in their strategy development to promote optimal business growth. Data analysts usually assess raw data using a combination of statistical analysis tools, data visualization software, as well as other scientific tools that ultimately help in providing solutions to complex business problems.
To be a data analyst, you must have a data-related degree, such as in subjects like mathematics, statistics, or computer science. You need to also develop excellent written and verbal communication skills. It is important to cultivate an analytical and critical frame of mind. Proficiency in using machine learning models, data mining, and data frameworks is also important.
Average Annual Salary: As per Glassdoor, the average Data Analyst salary in India is Rs 6,80,000 Lakhs per year.
Where you can work: Data analysts are an integral cog of every organization, and hence, they can find opportunities to work in numerous industries such as business, healthcare, medicine, retail, and government.
3. Machine Learning Engineer:
Machine learning engineers, as the name suggests, are highly skilled specialists who design, engineer, and deploy self-running artificial intelligence systems. Thus, they play a crucial role in enhancing and automating machine learning and predictive models, which will help the machines perform operations on their own without any manual intervention.
A machine learning engineer must also develop excellent problem-solving and communication skills as they will be collaborating and sharing their work with a data science team comprising software engineers, data engineers, business analysts, and other specialists.
Average Annual Salary: Machine learning engineers are one of the most highly paid AI professionals globally. According to Glassdoor, Machine Learning Engineer earns an average annual salary of ₹10,50,000 Lakhs per year.
Where you can work: Although the field of machine learning engineering is relatively new, there is a huge demand for professionals across industries such as medical, engineering, retail, IT firms, and more.
4. Data Architect:
If you love working with data and want to exert power over the way your organization collects, stores, manages, and transforms data, then this is the role for you. Your main role as a Data architect is to construct data frameworks and databases that help businesses to effectively store and manage accurate organizational data as well as curate data-use policies. After all, data is the most valuable commodity in today’s world, and data architects are proving to be an integral part of today’s data-driven world with their ability to control and navigate the flow of information. Therefore, it is a position that requires in-depth technical knowledge and soft skills like precision and attention to detail.
Average Annual Salary: According to Glassdoor.co.in, a data architect earns an average salary of Rs 25,55,411 Lakhs per annum.
Where you can work: Since there is not a single organization on the planet that does not use data, data architects can find job opportunities in literally any industry, including technology, entertainment, retail, healthcare, and government.
5. Data Scientist
Data scientists are highly skilled professionals who employ machine learning algorithms, statistical tools, scientific processes, and predictive models to uncover valuable insights hidden in data. Organizations can then use the information derived from the data to create strategies and make important decisions that can help in business expansion.
A PG in business analytics can certainly be a stepping stone towards pursuing a career as a Data scientist. Therefore, if you are keen on pursuing a career as a data scientist, getting a Master’s degree or a PhD in data science, computer science, statistics, or a data-related subject is highly recommended Also, you need to develop expertise in using advanced mathematics, statistics, and possess technological knowledge such as cloud computing, Big Data technology, and gain sophisticated programming skills.
Average Annual Salary: Data scientists are among the highest-paid professionals in the IT domain, earning an average annual salary of Rs 13,50,000 Lakhs in India.
Where you can work: Industries like research and development (R&D), finance, transportation, healthcare, and even government agencies are on the look-out for skilled data scientists.
6. Technical Project Manager
In any organization, project managers are leaders who guide their team to the successful completion of any assigned project. Their technical expertise and exceptional leadership qualities have enabled them to take on various titles like IT project manager, marketing project manager, and technical project manager. Technical project managers, as the name implies, must be able to lead the technical team of an organization and must be able to carry out complex analyses to improve efficiency and enhance organizational growth.
Average Annual Salary: The Technical Project Manager earns an average salary of Rs 23,25,000 per annum in India, as per the latest reports on Glassdoor. The average base pay varies between 5 Lakhs to 30 Lakhs depending on role and experience.
Where you can work: A technical project engineer handles IT projects and works in most industries like IT and manufacturing.
7. Market Research Analyst
Market research analysts or market researchers are professionals who conduct research into market trends and provide valuable data-backed insights. They conduct product and brand research, develop various data collection tools, analyze consumer behavior, monitor sale trends and potential competitors, etc. These insights help businesses gain a competitive edge over others by effectively developing their products and services, which are in alignment with the current trends, as well as strategizing effective marketing campaigns that can drive sales and boost business.
Average Annual Salary: While the average base pay ranges between 3 to 7 Lakhs, the average annual salary of a market research analyst in India is Rs 5,20,000 Lakhs.
Where you can work: Market research analysts can find job opportunities in almost all industries as they provide valuable insights from a marketing perspective that can help businesses grow.