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Your Complete Guide to an MBA in Business Analytics in 2024

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Aayushi

06 December, 2023

Your Complete Guide to an MBA in Business Analytics in 2024

“Data is the most valuable asset of the 21st-century business world”

In a press release, Gartner shows that businesses are increasingly preferring data-driven decision making which is why the analytics market is growing at an annual rate of nearly 30%. So, if you are an enthusiast of problem-solving and numerical puzzles, an MBA in Business Analytics is an ideal career choice for you.

There’s no doubt that businesses are going digital. And what is the driving force behind this? Of course, it’s data. Some companies develop their entire business model around data while others collect, store, and analyse massive chunks of data. The volume of the raw data is so vast that new models of computing are adopted.

The global big data analytics market is expected to reach USD 105.08 billion by the year 2027. Looking at these numbers, you can imagine the scope of business analytics in the coming ten years. Therefore, pursuing an MBA in Business Analytics at this point will prepare you for the lucrative opportunities that lie ahead.

In this article, we have discussed every aspect of an MBA in Business Analytics, its fee structure, study mode, eligibility, and job prospects in this field.

What is an MBA in Business Analytics?

This two-year post-graduate programme is a blend of technical expertise, corporate insights, management strategies, and strong communication skills. Apart from the core curriculum of an MBA in Business Analytics that involves computer science skills, business fundamentals, and practices to make optimal and robust decisions.

In this field, statistical analysis is extensively used in all functional areas of business analytics. Owing to the availability of large quantities and diversity of data, significant opportunities have emerged for businesses to utilise data to develop future action plans and improve the existing ones.

Course Name MBA in Business Analytics
Course Type Master’s Programme
Mode Full-Time, Part-Time, Distance, Online
Eligibility Candidates should have a bachelor’s degree with a minimum of 50% marks from a recognised university or board.
Duration 2 Years
Average Salary Offered INR 7.74 LPA
Employment Roles – Data Analyst / Business Analyst
– Data Architect
– Market Research Analyst
– Statistician
– Business Intelligence Analyst
– Information Security Analyst

Why Opt for an MBA in Business Analytics?

The growing advancement of technology has opened a multitude of opportunities and there has been a significant increase in the number of start-ups in the past few years. It might catch you with a surprise but most of these new businesses are conceived with the help of analytics. Therefore, industries are in dire need of proficient Business Analysts.

Doing an MBA in Business Analytics at this hour will prepare you for lucrative career opportunities. The hiring trends of the past year surveyed by GMAC indicate a considerable increase in demand for Business Analytics Professionals.

  • Chance to Make a Global Career

The scope of business analytics is not limited to any particular geographical area, it branches out worldwide. Candidates with MBA qualifications in business analytics are hired by top national and multinational companies. Therefore, it is a chance to build your global career.

  • The Pool of Untapped Opportunities

As business analytics is a relatively new field, it is still experiencing technological advancements. Many aspects are yet to be discovered in this field. Owing to these factors, this field has a multitude of untapped career opportunities.

  • High Scope of Career Advancement

As said earlier, there are many opportunities yet to be explored in this field which leaves ample scope for career advancement.

  • Good Networking Opportunities

The field of business analytics caters to a wide range of industries be it healthcare, IT, finance, or marketing. This gives you a chance to work and collaborate with professional and industry experts across the globe, thereby expanding your professional network.

Who can Pursue MBA in Business Analytics Programme?

Anyone who is good at numerical calculations and has an interest in statistics or drawing results from data is suitable for the business analytics profession. A candidate who has completed his/her graduation in any discipline can apply for MBA in Business Analytics programme. In addition to this, good communication skills and business acumen are required to ace this course. Candidates who have studied Maths or Statistics are preferred.

MBA in Business Analytics Curriculum

Semester 1 Semester 2
Quantitative Methods Operations Management
Managerial Economics Financial Management
Management Information Systems Human Resource Management
Financial Accounting Financial Analytics
Marketing Management Optimisation Analytics
Statistical Analysis Business Intelligence
Data Modelling Research Methods
Computational Methods Managerial Communication

 

Semester 3 Semester 2
Predictive Analysis Strategic Management
Risk Management Operations and Supply Chain Analytics
Marketing Analysis HR Analytics
Data Mining Big Data Analytics
Simulation Modelling Ethical and Legal Aspects of Analytics
Analytics Systems Analysis & Design Project Management
Industry Internship Programme Analytics Capstone Project
Elective Paper

Note: This is a general curriculum, it varies as per university and mode of learning.

MBA in Business Analytics Eligibility

The general eligibility criteria followed by universities are as follows:

  • An applicant must have completed a bachelor’s degree with 50% marks from a recognised university. For the SC/ST category, the minimum mark requirement is 45%.
  • Students who are appearing for their final exams or waiting for their results can also apply.
  • A valid score in MBA entrance exams such as CAT / MAT / CMAT / XAT / GMAT or other university management aptitude tests.

Please note that this is a general eligibility criteria that most of the universities follow. However, some universities also require you to appear for a personal interview round or group discussion. Moreover, in online mode, most of the universities do not require an entrance score.

MBA in Business Analytics Fee

According to current industry trends, business analytics is one of the most popular streams. The fee structure for this course varies as per university, location, course delivery mode, etc. Generally, the fee structure for an MBA in Business Analytics ranges between 6,00,000 to 20,00,000.

MBA in Business Analytics: Modes of Learning

MBA programmes come in various formats. Just like any other course, you can choose from different formats such as full-time, part-time, online, or distance MBA programmes. The choice varies as per individual needs, interests, and your current profile. Let’s discuss the different modes of MBA in Business Analytics:

  • Full-Time MBA:

    Popularly known as the regular mode of learning, in this format lectures are delivered on campuses. In a full-time MBA, you get to experience campus activities and events which helps in personality development.

  • Part-Time MBA:

    Part-time courses are slightly flexible and convenient compared to full-time MBA. However, the duration of a part-time MBA in Business Analytics is more than 2 years. Most of the candidates in this mode are working professionals so the class and exam schedules are outside business hours.

  • Online MBA:

    It is the most flexible learning mode that allows you to attend classes from home and even appear for exams via online mode. Currently, it is the most popular mode of online MBA courses. From fresh graduates to experienced professionals, a huge pool of MBA aspirants choose to study an online MBA in Business Analytics.

  • Distance MBA:

    Distance MBA in Business Analytics may not necessarily require you to have a PC or internet connection. All the study material is at home and students need to submit their assignments at the regional centre of the university. Unlike online or full-time, there is no specific schedule in distance learning, you can learn at your own pace.

Tips on Choosing the Right MBA College

With hundreds of management schools at every corner, it is normal to get confused about how to choose the right MBA college. It is one of the major decisions of an aspirant’s life. Even for a casual dress, we compare all the available options so why not for an MBA college?

Here are a few tips on how to choose the right MBA college:

  1. Check the government approval, other affiliations, and ranking of the college.
  2. Check if that college has the specialisation you intend to study and your eligibility.
  3. Go through the course fee and see if there is any EMI or financial aid facility.
  4. Thoroughly review placement services offered by the college, their industry tie-ups, previous placement records and the average package alumni have received.
  5. Check for the teacher-student ratio and also the profile of the faculty members.

MBA in Business Analytics Colleges

Top Full-Time (Regular) MBA Colleges
Name of the College Fee
Indian Institute of Foreign Trade INR 17,16,506
Lovely Professional University INR 2,50,000 per semester
Amity University INR 3,23,500 annual
Chandigarh University INR 1,55,000 per semester
UPES INR 17,51,400 full course

 

Top Online/Distance MBA Colleges
Name of the College Fee
UPES INR I,50,000 full course
BITS Pilani INR 2,34,000 full course
Chandigarh University INR 2,00,000 full course
Amity University INR 1,61,000 full course
Uttaranchal University INR 68,000 full course
Dr. D.Y. Patil Vidyapeeth INR 1,40,000 full course
SRM Institute INR 47,250 per semester
Lovely Professional University INR 54,000 full course

 

Also Read: Top Online & Distance MBA Colleges in India

Entrance Exams for MBA in Business Analytics

There are common exams for all MBA specialisations conducted on a national level. Although some universities conduct separate entrance exams. Below we have listed the most popular MBA entrance exams for your reference:

Exam Name  Exam Date 
CAT 2023 26th November 2023
CMAT 2024 To be declared
XAT 2024 7th January 2024
MAT 2023 MAT PBT: 3 September 2023
MAT CBT: 17 September 2023
NMAT by GMAC 2023 To be declared
SNAP 2023 10 December 2023 – 22 December 2023

MBA in Business Analytics Future Scope

Job Role Description
Business Analyst A business analyst has to improve business operations and processes while being involved in designing and modifying IT Systems. They also help in testing the system and solve business problems.
Data Architect The responsibility of a data architect is to build and manage an organisation’s database. Their role also involves securing database solutions, evaluating management framework, and preparing data reports.
Statistician Their primary role is to collect and organise data by creating questionnaires, surveys, and opinion polls. Through these information resources a statistician churns out the desired information on analytical level and formulates a conclusion.
Business Intelligence Analyst As a business analyst, you will have to analyse complex datasets to develop market intelligence and finance reports. This role plays a major role in optimising business’s overall performance.
Market Research Analyst Market research analysts have to study trends and market shifts along with analysing data on competitors and consumers. They help companies recognise which products or services are in high demand and what price are people willing to pay for that product.
Information Security Analyst An information security analyst has to administer an organisation’s network for security concerns and investigate when any breach occurs.
Supply Chain Analyst They work with different teams to determine whether the current supply chain is efficient and how to improve it further. On a daily basis, their role involves data collection, analysation of data, operation management, inventory analysis and analysing trends.

 

Job Role Average Salary
Business Analyst INR 9.2 LPA
Data Architect INR 24.2 LPA
Statistician INR 5.4 LPA
Business Intelligence Analyst INR 7.8 LPA
Market Research Analyst INR 5.9 LPA
Information Security Analyst INR 6.3 LPA
Supply Chain Analyst INR 6.2 LPA

* Source: Ambition Box

FAQs

Q1. What career opportunities are available after completing an MBA in Business Analytics?

As the business analytics field is on the rise, there are countless career opportunities you can explore including Business Analyst, Data Architect, Statistician, Business Intelligence Analyst, Information Security Analyst, and many others.

Q2. Can I pursue an MBA in Business Analytics online?

Yes, many top-ranking universities are offering online MBA programmes in Business Analytics.

Q3. What skills will I gain from this program?

By pursuing an online MBA in Business Analytics you develop a diverse skill set such as predictive analysis, marketing intelligence, econometrics, data mining, and data visualisation among others.

Q4. Is work experience required for admission?

In most universities, work experience is not required for admission to online MBA programmes. However, some institutions might ask for work experience, so you should check that particular university’s website.

Conclusion

Embarking on an MBA in Business Analytics journey opens doors to a world of possibilities in the data-driven era. The program equips you with the skills to navigate complex data landscapes, make informed decisions, and propel your career to new heights. Whether you choose the traditional full-time mode or opt for the flexibility of online or distance learning, an MBA in Business Analytics positions you at the forefront of the data revolution, ready to meet the demands of the dynamic business environment.


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