The Master of Business Administration (MBA or M.B.A.) in Business Analytics is a master's degree in business administration (management). The MBA degree originated in the United States in the 21th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive, and distance learning students, many with specialized concentrations.
Business Analytics has emerged as a key strategic tool being deployed by 21st century organizations. Used properly, Analytics can help organizations to improve market share and profitability, analyze new prospects, or understand the behavior of their employees and customers.
However, there is an acute shortage of skilled people who understand the business domain and are also able harness modern Analytics.
As analytical models help us make tactical and strategic decisions, it is vital that the people who make those decisions are suitably trained in the underlying business and technical models. As per a survey by Mckinsey Global Institute, by the year 2018 the US alone will lack about 1,40,000 to 1,90,000 data scientists, and a further estimated shortage of 1.5 million managers who can use analytics for better decision-making. In India too, according to NASSCOM there will be a shortage of about 2,00,000 data scientists over the next few years.
The MBA Business Analytics from a reputed University will address this need. It will train students in the main business, functional and technical areas which are needed for the power users of the digital world. The program is designed as a rigorous, full time, two-year program encompassing all the major functional and technical disciplines.
A core feature of the MBA in Business Analytics program will be a strong hands-on approach. Popular data analytics packages such as Microsoft Excel, R, SPSS and other professional analytics software will be used to help students learn Business Analytics thoroughly and become industry ready. Simultaneously, there will be in depth coverage of functional areas such as Finance, Marketing, HR and Operations so that students are well-equipped to apply the analytics knowledge in these areas.
The program will ensure that students receive the latest inputs, case studies and methodologies from time to time. In addition to the business and technical inputs, the program will also support the development of communication and soft skills which are essential for today’s managers. At the end of the two-year program, the student will emerge as a thoroughly groomed MBA with a strong analytics background who is to play aleading role in today’s industry. With a solid grounding in business principles on the one hand and analytics on the other, she / he will be able to analyze large and complex data sets, build intelligent models, and thereby take more informed decisions for the organization and its clients.
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