Imagine a few decades ago, someone walked into an office and said they could make calculated predictions about the company’s future.
They would have been laughed straight out of the building.
Times have changed. Today, that same person is given the profile of a business analyst. Along with key responsibilities and lucrative salary packages. Instead of crystal balls, they use digitally stored information and artificial intelligence to help companies make informed choices that increase profits and productivity.
Big businesses need big data if they want to succeed. Huge multinational corporations, small firms, private banks and even new start-ups have set up shop online.
Digital transactions, customer service feedback, brand reviews, employee information, product inventory… they are all saved on the cloud. An analytics course teaches you how to consolidate all this stored knowledge and use it intelligently. By analysing the statistical data, they can figure out what is essential and what is expendable.
Why are business analysts in demand?
They are trained professionals who sieve through a sea of digital information with a sharp, critical eye. They understand the needs of a company and make data-driven decisions that optimise business operations. They can break down statistics and figures to reveal a story. They explain what is happening in the industry today. What patterns are forming and which trends are emerging. Analysts significantly impact sales and services. They generate insights into consumer behaviour, predict potential outcomes and recommend ways to reduce overhead costs.
As a business analyst, it is your job to ensure the company is heading in the right direction. You have to:
- Evaluate existing business operations
- Modify ineffective systems within the company
- Solve problems and fix glitches
- Streamline processes
- Ensure better functioning across various departments
You will need these qualifications to be a business analyst
- Take a 4-month business analyst certification course.
- To do the analytics course, you should be a graduate or a post-graduate degree in any stream
- You can also do the course when you are studying for your degree
- Strategic and critical thinking
- Problem-solving skills
- Ability to communicate effectively
- Attention to detail
The scope of a business intelligence course
The need for analysts is steadily growing in India. Organisations are beginning to recognise the need for data-oriented professionals. They offer ideas and insights to help boost company sales, enhance employee performance and eliminate any potential bottlenecks.
Here are the benefits of doing a business intelligence course.
#1 Huge opportunities in India
From IT companies to banks to FMCGs, many MNCs and prominent organisations are opening their doors to hire business analysts. If you don’t have an analytics team on payroll, you’ll end up falling behind your competitors (especially if they have one).
A business analyst certification is a great option for fresh graduates who are uncertain about their careers. It’s a quick four-month course that prepares you to work with real data and apply for entry-level jobs across various sectors such as banking, marketing, retail and e-commerce.
If you’re struggling with your existing job and could do with a change, the course can lead to an alternative career path. Professionals with expertise in data analytics often have an advantage in their careers, as they are likely to rise to leadership roles. This is because as an analyst, you have a key role in the decision-making processes within the company.
There is huge potential for career growth. You can move on to high-ranking management positions from project manager to the CEO. The certification can also be a launchpad to starting your own company once you have obtained the necessary experience.
The future of business is linked heavily to data science. Analysts can pave the way forward as more companies are abandoning traditional business methods in favour of more technological and advanced systems.
#2 All major business sectors need your expertise
The whole world is migrating online. Even traditional corporate sectors have a presence in cyberspace. Either keep up with the times or get left behind. These industries use the intelligence gathered by processing big data to overcome obstacles and provide solutions. Here are a few of them:
- Human Resources
This sector will require business data analytics in departments, such as recruitment, compensation, training and retention.
- Financial services
They need professionals to help them with fraud detection and prediction, risk profiling, recovery management and credit scoring.
The merchandising industry needs skilled analysts to help with store operations, inventory and customer retention.
International and local banks use data to identify risks, manage their different branch locations and enhance trading services.
#3 High paying salary packages
Yep. You read the above line right. This is a very lucrative profession to pursue. At the entry-level, freshers can earn approximately 5 lakhs a year. While mid-level professionals can hope to take home up to 14 lakhs annually. If you’re in leadership roles or upper management positions, you could be earning over 25 lakhs per annum. It depends on the company, your role and your contribution. As you build your career and climb up the corporate ladder, you stand to earn a high remuneration for your hard work. There is a substantial demand for certified professionals, so you’ll find the salaries in most companies as per the industry standards. Once you have a few years under your belt, the prospects will only get brighter.
#4 There is potential for global opportunities too
The analytics arena is gaining speed all around the globe. Countries like the US, UK, Singapore, Switzerland and Germany recognise the value of big data. You can use your skills and experience to find job opportunities in other parts of the world. Global corporations use their analytics team to develop and enhance their various offices all over the planet. As a part of this team, you are instrumental in shaping the course of these companies, working closely with other departments and picking up specialised knowledge outside of your job profile. There is so much to learn and experience when you are an analyst. Your work will elevate your resume and fast track your career into the big league.
#5 The future possibilities are limitless
Let’s face it. The internet is not going anywhere. In fact, it will only get bigger as time goes by. Global corporations such as Microsoft and Google are widely propagating the potential of business analytics and data-led intelligence. Tech advances and data methodologies prove that conventional business methods don’t work anymore.
They will need an analytics team to define parameters for growth and manage operations. As the demand for analysts increase, salary expectations will also rise.
Also, unlike other industries, you can’t automate this field. While artificial intelligence may be used to collect information, companies require sharp-minded professionals to configure the data and create insights. You’ll always be a highly valued employee no matter how many massive strides data-driven technology undertakes.
Big data can lead to bigger opportunities. The field of data science offers tremendous scope and is a very rewarding profession for those qualified. A business analyst certification is your ticket to a future-ready career with professional growth, monetary gains and exciting ventures.