Data is no longer a peripheral output of business that are to be used for post-facto analysis of business performance or regulatory reporting. In a digital world data is now driving business. Today, more than 2 trillion gigabytes of data are being created daily. Business needs professionals who can understand massive volume of data, analyse it and create data driven business strategies. The sexiest job in 21st Century is predicted to be that of a data scientist. The 5 main reasons for a working professionals to get trained in business analytics are:
- Fast tracking you career growth: Demand for managers with strong analytical capabilities are growing exponentially. The explosion of data in the digital universe is creating a skill gap and is opening up many new career opportunities in management. How managers and organizations navigate and mine this new data will separate the winners from the losers.
- Need to keep pace with evolving analytics landscape: 1n 1980s business intelligence (BI) became a buzzword in analytics landscape. The emphasis was on descriptive analytics. It was more of looking back – what has happened and what were their drivers. Data was stored mostly in relational database. Visualization tools with capability to drill down to details from aggregates were the standard components of a BI program. Analytics landscape has been changing rapidly with the advent of big data. Big data analytics needs algorithms and tools that are capable of handling structured as well as unstructured data. Analytical requirements have progressed from being merely descriptive to more of predictive and prescriptive nature. Business needs to know what the decision choices are and what the possible outcomes under them. What is the optimum choice under different assumptions about unfolding future?
- Exposure to international best practices: Innovative applications of analytics in business are happening across the world under different challenging circumstances. Working professionals need to be exposed to such innovations and their potential use in their business environment. An international faculty helps to bring such worldwide best practices to their knowing.
- Honing Practical Skills: A certificate program focuses on the specific areas of an emerging and fast growing subject like business analytics that are useful to a practitioner of this subject. Exposure to real life big data and lab exercise with analytical tools create confidence among the participants of such a program about their ability to use theories they have learned in classroom.
- Networking with industry experts: A classroom program on business analytics provides opportunities to interact with industry experts who are generally invited to share their experiences with the participants of the program. Panel discussions on use of analytics in different industry verticals help the participants to understand the needs of business in analytical areas and take up capstone projects, a component of the curriculum, accordingly.