International Data Corporation (IDC) has long ago revealed how business analytics and intelligence is going to shape our business practices. In 2013, it predicted that big data technology will see a 31.7% of growth rate (compounded annually) from 2016. Incidentally, it is around seven times of the growth the overall ICT market expects to demonstrate.
As business processes are getting more IT-centric and involve analytical interpretation of digital data, most aspiring organizations are looking for excellent analytical skills to elevate their standard of business practices. McKinsley Global Institute found in 2011 that the shortage of capable workforce in the sector of business analytics will have triggered more than 150,000 job opportunities in the US alone by 2018.
So whether you have an analytic inclination towards the business or have the desire to solve quantitatively oriented business problems, a course in business analytics can help you fulfill all your dreams. A career based on business analytics can ensure you move towards a bankable position in life. Besides, being a data scientist or model builder and deriving insights from the largely available and accessible “big data” is fun in itself.
Being a new entrant to this widely beneficial field can be easier when you have a thorough understanding of the key concepts and fundamental knowledge. That is to say, having a certificate of training in business analytics will facilitate your success. And what better than to get the training online? Most professionals opt for an online course because
- They can have the flexibility to attend the sessions at any time of the day they prefer
- Since the training is online, one can re-attend the previous sessions and revise their understanding about the subject
- It’s a cost-effective solution and needs no strict change of daily routine
The scope of having a training in business analytics is immensely expanding. Apart from being a data scientist or model analyst in a corporation, there are many, many jobs that will sooner or later raise the bar by asking business analysts to take the position. From banking, Insurance, e-commerce to manufacturing and government services, the need for intelligent business analysts will keep growing exponentially.
Keeping pace with such dynamics, universities and academic institutes have begun formulating and offering courses that fosters crystal-clear approach towards the practical knowledge among the students. In the last few years, you can notice a significant uprise of such courses that test and polish students’ analytical powers and make them competent to handle real-world business problems. These courses are aimed to inculcate the following among students and professionals
- Realizing and improving the decision-making processes
- Optimizing the alignment of resources and careful placing of strategies
- Formulating and testing hypotheses
- Using diagnostic statistics and mining for potentially viable outliers in multiple regression
- Applying and correlating the data patterns to derive actionable insights
- Detecting association among categorical consumer behaviors to plan strategies and implement working plans
- Analyzing and formulating models to predict the consumer behavior from the latter’s online activities
- Real-time response to end user queries and needs
With the academic institutions incorporating such essentials in educational curriculum, we are sure to produce efficient business analysts who can fill the market demands by meeting the already raised expectations. Interdisciplinary programs are also run to accommodate various beneficial concepts and thus apply it to the largest sphere of the business process today: big data and the consumer’s online behavior.