Want a job in Business Analytics? Read top 6 job profiles & salaries

Behind every success story—be it at the box office or a new product launch—is some data. Data that backs old theories and proves new ones. And if understanding this data intrigues you, then you’re at the right place! The digital (and physical) world around us is surrounded by different types of data, each serving different purposes. Understanding this data, thus, becomes an important task. And that’s the job of a Business Analyst. Business analysts not only gather and organise data, but analyse it to highlight underlying benefits for the business. The crucial insights shared by business analysts help businesses make informed, data-backed decisions.

Business analytics is prevalent in many industries, from healthcare to marketing. Each field has an equally high demand for professionals well-equipped with analytical skills. This growing need for business analysts has built a promising career path for data professionals, with exciting job profiles and salaries booming across all industries.

Let’s take a look at some top job profiles, popular companies and the salaries they offer, and what can make you the perfect fit for these profiles:

Top 6 Job Profiles in Business Analytics: Salaries, Roles & Responsibilities

• Business Analyst

Due to the growing volume and complexity of data, the need for business analysts has been rapidly growing too. As a business analyst, you evaluate and understand large amounts of organisational data that help businesses make informed decisions. Performance improvement, boosting productivity and bringing sustainable changes in the organisation are crucial tasks that business analysts are equipped to take up.

Salary Of A Business Analyst

For business analysts, the salary packages start from ₹3,00,000 to ₹5,00,000 per annum. With more experience in the field, the packages are also bound to differ.

Top Companies Hiring Business Analysts

Giants like Amazon, McKinsey & Company, Reliance Jio, Infosys and many more are on the constant lookout for business analysts that can help businesses scale with the help of data. And the list only continues!

Educational Background Of Business Analysts

An undergraduate or postgraduate degree in Business Administration, or a certified course in Business Analytics from renowned organisations like Proschool, is a stepping stone on the path of becoming a business analyst. We will discuss these roadmaps in detail in the next section.

Also Read – Where Can Business Analytics Take You? Understand the Scope in 2024!

• Data Analyst

In the digital era, data analysts wear the capes of unsung heroes. From all the information generated today, data analysts make sense of the data gathered using technical tools and techniques. They help identify business trends and patterns to watch out for, and transform these raw sets of data into actionable insights. High problem-solving and analytical abilities, thus, are the most optimal skills in this field.

Salary Of A Data Analyst

Based on recent data, the salary for data analysts start from ₹4,50,000 to ₹6,00,000 per annum and continue to increase as per seniority levels.

Top Companies Hiring Data Analysts

Leading companies in the IT sector, such as Infosys, Wipro, Accenture, among others in the banking sector too are actively hiring for data analysts.

Educational Background Of Data Analysts

A Bachelor’s or Master’s degree in Business Administration, Computer Science or Information Technology, as well as certifications like Certified Analytics Professional (CAP) with a focus on data analytics are a bonus in this career path.

Also Read – Top 10 Business Analytics Courses | Online & Offline

• Data Scientist

An expertise in statistics, computer science, and analytics makes for the perfect data scientist. These professionals hold extraordinary domain knowledge to extract good insights from large data sets. These crucial insights further help businesses indulge in data-driven decision-making. Therefore, data scientists bridge the gap between data and business solutions, and leverage them both with their analytical expertise for the organisation’s betterment.

Salary Of A Data Scientist

The salary for data scientists range from ₹7,00,000 to ₹10,00,000 per annum, for beginners in the field, and continue to evolve with more experience.

Top Companies Hiring Data Scientists

From top companies like Deloitte, TCS, and Infosys to growing start-ups like Zomato and Uber, many companies are actively hiring for data scientists to drive data-first decision-making in their businesses.

Educational Background Of Data Scientists

An undergraduate or postgraduate degree in Computer Science, Information Technology and the like, with proven background of data administration, or a degree in Business Administration, is required in this profession.

Also Read – Top 8 Tools Every Business Analyst Should Use In 2024 To Solve Problems

• Financial Analyst

Majorly dealing with finances, financial analysts analyse financial data to help individuals and businesses make more informed financial decisions. Their expertise lies in understanding the existing scenarios, evaluating investment opportunities from available data sets, and finding best suited times for businesses to take action. They predict future financial performance based on previous and current trends, and offer secure suggestions to individuals and businesses, for financial growth.

Salary Of A Financial Analyst

The salary for financial analysts in India starts from ₹4,00,000 to ₹8,00,000 per annum for entry-level positions in the field.

Top Companies Hiring Financial Analysts

Investment banks like J. P. Morgan, Citigroup, Morgan Stanley, and other financial institutions like Reliance Jio, HDFC Bank, and PayTM have many opportunities for skilled financial analysts in this sector.

Educational Background Of Financial Analysts

A Bachelor’s or Master’s degree in Finance, Accounting, or Business Administration usually equips individuals with the right skills required in this domain. Additional certifications like CFA (Certified Financial Analyst) and diplomas are always a bonus.

Also Read – Top 12 Skills Every Business Analyst Should Possess

• Marketing Analyst

The true nature of market trends is to consistently evolve. Understanding the whys and hows behind each market trend is what a market analyst does best. From studying market trends and consumer behaviour to understanding industry dynamics, market analysts gauge the competitive landscape and help identify new growth opportunities for businesses. Psychological and analytical skills are almost always a prerequisite in this field.

Salary Of A Marketing Analyst

The starting salary for market analysts in India, ranges from ₹4,50,000 to ₹8,00,000 per annum, for most beginners in the industry.

Top Companies Hiring Marketing Analysts

Consulting firms like McKinsey & Company and Ernst & Young as well as market research companies like Nielsen, Kantar and IMRB International are actively seeking skilled market analysts for many roles.

Educational Background Of Marketing Analysts

An undergraduate or postgraduate qualification with a degree in Marketing, Analytics, or Business Administration carves out a smooth beginning for individuals inclined towards market analysis.

Also Read – Understanding the Key Differences Between Data Analytics and Business Analytics

• Business Intelligence Analyst

From gathering data to analysing and interpreting it, business intelligence analysts take care of the entire package. They use statistical tools and techniques to identify and understand trends and patterns, based on which they can understand large data sets. This analysis helps them extract insights, which are further directed towards making supporting data-driven decisions in businesses. Strong analytical thinking, thus, is of utmost importance in this field.

Salary Of A Business Intelligence Analyst

The salary for business intelligence analysts starts from ₹5,00,000 to ₹10,00,000 per annum, which vary depending on roles and responsibilities.

Top Companies Hiring Business Intelligence Analysts

Many companies across various industries are hiring for business intelligence analysts, like Wipro, TCS, Flipkart, and Infosys, to name a few.

Educational Background Of Business Intelligence Analysts

A Bachelor’s or Master’s degree in Business Administration with a specialisation in Finance or Economics, Business Analytics, or Data Science is usually preferred in this field.

Also Read – The rise in the demand for business analytics courses in India

Roadmap to Pursue Business Analytics: The How

The field of business analytics is on the rise, with many new roles and job profiles coming up in some top-listed companies. You must be wondering, what does a path to pursue business analytics look like? What are some milestones for you to bag, in this journey? Worry not, because we’ve simplified the complete roadmap of pursuing business analytics in 7 simple steps for you:

• Bachelor’s

A Bachelor’s degree in Business Administration (BBA) is usually most preferred in business analytics. In BBA, a specialisation in finance or marketing can help push you forward in this field. A degree in Business Administration familiarises you with the world of businesses, and equips you with the right skills to encourage organisational growth. An undergraduate degree in Computer Science, Data Analytics or related areas can also prove beneficial. An education in the technology field shows your relationship with data and numbers, and how well you can dissect them to get actionable insights.

• Master’s

Some jobs often seek individuals holding a Master’s degree in Business Administration (MBA). Whether your specialisation is in finance, marketing, or analytics, an advanced educational qualification in the Business Administration realm definitely stands out in your resume. Similarly, a master’s degree in data science or related fields can prove your knowledge and expertise in dealing with data sets, which is always a bonus.

Also Read – How Much Do Data Scientists Earn in India, North America, and Europe?

• Proschool

If you wish to pursue business analytics, the best way would be to undertake a course in business analytics. Proschool is the 4th ranked analytics training institution in India, making it one of the most credible and renowned sources of knowledge in business analytics. Proschool’s course of Business Analytics offers a comprehensive dive into the world of business analytics, touch-basing with all the necessary topics. The course taps into finessing soft skills like problem-solving and also technical skills like Python, SQL, Advanced Excel, etc., to prepare you for a fulfilling career in business analytics. Moreover, Proschool also offers placements post course completion, making it a one-stop solution for your entire journey in business analytics!

• Certifications

Additional certifications in programming languages and data analytics can definitely boost your path in business analytics. You can complete certifications in business analytics tools like SQL, Python, R, and Tableau, to equip yourself with the knowledge of programming languages. These certifications are a plus because they enhance your proficiency in using data tools and techniques.

• Experience

Nothing beats hands-on experience in the business analytics field! Practical experience in data analysis or related fields guarantees a proven record of working with large data sets. Be it in part-time jobs, internships, or full-time roles, a hint of practical experience in the field you want to explore can equip you with many soft and technical skills needed to excel in that journey, and is always worth a shot!

• Networking

They say, “There’s no work like networking!” and that is as true as it gets. Networking opens new avenues of opportunities, and helps you meet accomplished, like-minded people in the industry you work in. Learning from people’s experiences, and getting first-hand knowledge from other people in the same industry pushes you to expand your horizons, brings you clarity and even new friends!

• Upskilling

In a tech-driven field like business analytics, the learning never stops. The industry is constantly evolving, with new tools and techniques seeing the light of the day. Even market trends and patterns continue to change each day, bringing something new to learn from every time. Learning new skills makes you adaptable to this changing landscape, and helps you stay highly competent at all times.

By checking these 7 things off the list, nothing can stand between you and a bright future in business analytics!

Also Read – What is Analytics Consulting and HOW to Get There?

4 Additional Factors That Can Influence Salaries: The Why

Here are some common factors that can influence your salary as a business analyst in India:

• Factor 1 – Location

Location is a top-tier factor that influences salary packages. The highest paying jobs in business analytics are mostly found in metropolitan cities like Mumbai, Bangalore, Delhi, and Pune, followed by semi-urban and rural areas. This is primarily because most top-rated companies are situated in urban areas, where the cost of living is equally high, leading to higher compensation packages.

However, after the COVID pandemic, many companies also offer remote opportunities to promising candidates, which can eliminate the location factor altogether.

• Factor 2 – Education

Education is a deciding factor for many companies because it reflects your knowledge about the field. A candidate in business analytics is usually preferred to hold an undergraduate or postgraduate degree in Business Administration, Computer Science, or related fields. A degree in business analytics from a renowned institution like Proschool can also increase your chances of securing a well-paying job in the field.

• Factor 3 -Experience

Any level of practical experience in the field can make you a strong candidate for higher-paying jobs in business analytics. Proven experience in the industry shows your expertise and proficiency in evaluating large data sets, problem-solving, and analytical skills needed to convert data into actionable insights. This experience provides a significant advantage in getting the job you’re seeking.

• Factor 4 -Field

Your salary as a business analyst also depends on the industry sector you’re working in. Business analytics is widespread and present in almost every other industry, like healthcare, e-commerce, and more. Depending on the current demand, complexity of the data, and your specific roles and responsibilities, the salary will vary.

Also Read – A detailed guide on doing a business analytics course

Scope of Business Analytics: The Future

Business analysts are in demand across many fields, and while their core roles remain the same, the types of projects, data sets, industry factors, and business objectives differ. Here’s a list of industries where the demand for business analysts has grown substantially in recent years:

• E-commerce

With rapid growth, businesses in e-commerce are constantly looking to optimise operations and improve customer experiences. Business analysts help interpret data to achieve these goals. From inventory management and price optimisation to campaign analysis and personalised user experiences, analysts play a key role. Their insights enable businesses to make data-driven decisions for organisational efficiency.

• BSFI (Banking, Financial Services, and Insurance)

In the BSFI sector, business analysts help streamline financial transactions, manage risk, and make processes more efficient. For example, they might assess investment opportunities for financial growth or help maintain competitive advantages in the market.

• Healthcare

Healthcare is a data-rich field where business analysts can play a significant role. They analyse patient data to identify recurring factors in treatment outcomes or population health data to spot potential health risks. Insights from this data enable better decision-making in patient care and operations.

• Telecommunications

In telecommunications, data analysis is essential to drive innovation and enhance user experiences. Analysts focus on network data analysis, customer acquisition strategies, and performance improvements to keep companies competitive.

• Manufacturing

The manufacturing industry constantly deals with complex processes and high competition. Business analysts help by optimising supply chains, identifying quality issues, analysing equipment failures, and more. Their insights reduce operational costs and downtime, making processes more efficient and cost-effective.

Also Read – Some of the Best Industries to Work in for Business Analysts

Conclusion

Data-driven decision-making has become an essential component of success in today’s business world. Across industries, the demand for business analysts is rising, making it a lucrative and fulfilling career choice with endless opportunities for growth.

With the right education, skills, and experience, you can embark on an exciting journey in business analytics filled with professional growth and learning at every step. Best of luck on your path to success!

FAQs

What jobs can I get with a business analytics degree?

A degree in business analytics opens many career paths, including roles such as business analyst, data analyst, data scientist, market analyst, operations analyst, and business intelligence analyst. The specifics of each role depend on your skill set, experience, and the industry you choose.

Is a business analyst an IT job?

Not necessarily. While a background in IT can enhance a business analyst’s career due to the technical knowledge it provides, business analysts work across various industries like healthcare, finance, e-commerce, manufacturing, and consulting—not just IT.

What is the work of business analysts?

Business analysts gather, organise, and analyse data to uncover trends and insights that help improve processes and efficiency within organisations. Their work supports businesses in achieving strategic goals through data-informed decisions.

Is business analytics high paying?

Yes, business analytics is one of the higher-paying fields, with growing demand across industries. Salaries vary based on experience, education, and the company, but it is considered financially rewarding.

Is business analytics worth it?

Absolutely! Business analytics is professionally and financially rewarding, with plenty of opportunities for growth and skill development. As the field continues to evolve, so does the demand for skilled analysts across different industries.