What are the career & job prospects in India for Business Analytics?

Business analysts, also known as management analysts, work for all kinds of businesses, nonprofit organizations and government agencies. Business analysts are responsible for identifying the business needs of their clients and stakeholders to help determine solutions to business problems. BA role is a techno-functional role where he requires wisdom, techniques, technical skill, domain skills and soft skills. IIBA has classified BA in five categories: Novice, Advanced Beginners, Competent, Proficient and expert based on different skills and competencies. Individuals can develop BA competencies through training, self-study, work experience and industry engagement. Many large Indian business organisations have business analysts on staff who continuously monitor operations and devise and implement process improvements. Business analysts also work as external consultants in IT outsourcing companies, providing targeted analysis and recommendations to organizations on a short-term contractual basis. Business analysts who work in IT consulting firms often specialise in an industry, such as healthcare or manufacturing, or develop expertise in a specific business area, such as supply chain management or information systems management. Business organizations also hire business analysts for assistance in planning and executing a major business project, such as moving into a foreign market or developing an e-business strategy. Many business analysts begin their careers working in entry-level business positions related to their undergraduate degrees and can raise to become functional and practice head in their area/ domain of expertise.

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What is business analytics and its usage? What Does Business Analytics Mean: Private banks are using data mining and analytics to compete successfully. Credit Card companies use analytics to predict customer risk profile and identify profitable segments. Insurance companies use analytics for risk estimation. This is just a representative list; the scope of analytics is much more than this. Big MNCs are optimistic about the data and business analytics. Data analytics is going to be the next big wave that will sweep across the world and India is going to be right at the forefront of it, says Manoj Singh, global managing director (operations) at Deloitte Touche Tohmatsu. Mid-sized analytics consulting companies focus on Retail Banking, Consumer Finance, Consumer packaged goods and Retail, Customer Relationship Management and Media. Skills required to become a Business Analyst: 1.Problem-solving skills are of utmost importance for candidates who aspire to become business analysts. 2.Good communication skills are also essential as a business analyst is continuously required to communicate the upcoming business plans and procedures throughout the organisation. 3.The ability to do detailed research and interpret upcoming business trends is also important in order to become a good business analyst. 4.Understanding of technology and ease of access is also essential for this field in order to conduct efficient research Job Scope: Although there are few Indian firms that pay good packages to business analysts, there are some of the top consultancies in the country that hire candidates for high paying business analyst profiles. Some of the consultancies also hire freshers for profiles like an assistant business analyst, etc. The scope of getting a good job is highly dependent on your experience in any industry and the institute from where you have pursued your certification. Salary: Business Consultant is a high paying job provided that you have pursued your diploma or certificate from a reputed college or university. The average salary for a business consultant is Rs. 8,95,187 per annum. Your experience will highly influence the profile and salary that you will get. Highly experienced professionals are paid close to Rs. 25 to 30 lakh per year. As a business analyst, you will be responsible for process improvement, IT Consulting, IT consulting, client interaction and pre-sales.

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Skills required to become a Business Analyst: 1. Problem-solving skills are of utmost importance for candidates who aspire to become business analysts. 2. Good communication skills are also essential as a business analyst is continuously required to communicate the upcoming business plans and procedures throughout the organisation. 3. The ability to do detailed research and interpret upcoming business trends is also important in order to become a good business analyst. 4. Understanding of technology and ease of access is also essential for this field in order to conduct efficient research Job Scope: Although there are few Indian firms that pay good packages to business analysts, there are some of the top consultancies in the country that hire candidates for high paying business analyst profiles. Some of the consultancies also hire freshers for profiles like an assistant business analyst, etc. The scope of getting a good job is highly dependent on your experience in any industry and the institute from where you have pursued your certification.

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The average salary which a candidate looking for career opportunities in business analytics can expect is INR 6 Lacs. If they have many years of experience and good skills as professionals, the salary can hike up to INR 12 Lacs to INR 13 Lacs. Furthermore, this amount can reach INR 16,54,946.

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Many business analysts begin their careers working in entry-level business positions related to their undergraduate degrees and can raise to become functional and practice head in their area/ domain of expertise.

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Business analytics is used by companies to derive insights from terabytes of data and automate and optimize business processes. Data has become one of the biggest assets and companies deploy business analytics to predict future outcomes, find patterns and relationships and perform statistical analysis. Though the job roles of BA and BI are used interchangeably, there are some key differentiators. The major role of a BA is data mining, statistical analysis, predictive modeling and multivariate test. Business Analytics career in India has emerged as the preferred role of choice in IT and ITES industries. Top recruiters of BA's are IT companies. Recently, Banking/Insurance and Finance companies are also recruiting BA's in number. One of the most sought-after jobs, business analysts have a rare blend of business and analytical skills and are rewarded with good pay packages. The average salary for the senior business analyst is 8-9 LPA.

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Business analytics is a broad umbrella category and engulfs various subclassified fields like Bigdata Analytics, Business Intelligence, Data visualization, Machine Learning using coding language like R and Python for various Business cases. The job opportunity is humongous for such professionals possessing skills into Bigdata Frameworks, SPSS, SAS BI, SAP Hana, Tableau, Python, Neural networks, Artificial intelligence, Internet of Things, NFV, SDN. Telecom Giants, Silicon Valley giants and Investment banking giants, venture capitalists are major recruiters viz. Vodafone, Reliance Jio, Verizon, Goldman Sachs, Bank of America, Credit Suisse, Apple, Softbank, KKR group, Samsung, At&T, Cisco, Microsoft, Flipkart, ZTE, Qualcomm, Ericsson, etc. Starting salaries in the domestic and international region is 6-9LPA and 45000-50000$ respective. For experienced candidates, this goes high up to 20LPA. With students pursuing B.Tech/M.Tech in computer science from top IITs, NITs, IIITs, the average salary is 15 LPA and ranges as high as 2 Crores.

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Business analytics has become vital for the growth and development of the companies today. Large investments are being made in big data analytics to make better business decisions. Business analytics plays a very important role here as it uses statistics and tools to decode consumer insights. In the recent times, there has been a sudden rise in the demand of business analytics. It is a challenging task which requires a high degree of conscious efforts and smart work in order to put things in perspective. This data finally aids the process of decision making that encourages growth of companies and organizations. Companies like IBM, Wipro, JP Morgan, Amazon.Com, Accenture and Deloitte are using business analytics tools and so they are recruiting many people. One needs to acquire a particular skill-set to succeed in a business analytics career. Pay scale: One can expect a starting salary of 6-7 lakhs per annum and it increases with work experience and seniority in position.

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Hello! Being Business Analyst means, you are the reader on whose proposed path the entire Management and company's administration follows. The Business Analyst do all the analysis of all the aspects of business for taking the strategic decisions. According to statement of Forbes magazine (2015): There was a 123.60% jump in demand for Information Technology Project Managers with big data expertise, and an 89.8% increase for Computer Systems Analysts. Does this ring a bell? It’s going higher by every single passing day, now is the time to grab every opportunity you have to become an analyst. To be the Business in India, you need to do at least post graduate in this field. You need to be excel in Statistics and mathematics. An ideal candidate is expected to be a statistics degree holder and/or a mathematics degree holder. Post-graduation or a Master’s degree is sure to add value to it. I would suggest you to go for IIM Ahmedabad or ISB Hyderabad as the target institution to obtain the certificate. Certified Program in Business Analytics (CBA) from Indian School of Business and Executive Program in Advance Business Analytics from IIM Ahmedabad. Hope this helps. Good Luck.

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