ANALYTICS – A RISING DOMAIN WITH A PROMISING FUTURE
Times have changed. Gone are the days when journalism, marketing, advertising and other jobs in the humanities were considered the “glamorous” jobs. It’s time for the nerds to take their revenge with the rise of Analytics as the most sought-after job! Analytics has paved the way for the math and statistics lovers who want to pursue a career beyond conventional options such as engineering.
Not convinced? Here is the proof!
The Harvard Business Review calls the position of business analysts or data scientist the “sexiest job of the 21st century.” Business Analyst jobs are predicted to increase by 22% by 2020, according to U.S. Bureau of Labor Statistics.*
There is 32% increase in demand with people having Analytics qualifications over and above degrees in IT or business administration or even doctorates (2016) and data scientists earn more than CA’s & engineers.
According to NASSCOM:
- Revenue from analytics is said to grow 8X by 2025- It is currently at $2 billion and will reach $16 billion.
- Job roles are undergoing change- increased play of big data/analytics component which is leading to the emergence of specialized roles.
- Indian analytics market is to grow at nearly 26% in the next decade.
There will be a shortfall of nearly 200,000 analysts who have the in-depth skills necessary to interpret Big Data by 2018.**
So if you have just graduated from college, consider taking on the fast-track Analytics avenue as your next steps.
What skills would be required of you as an Analyst?
If you want to mold yourself into a competent Analyst, here are a list of noteworthy skills which would help you in shaping yourself into one:
- An eye for detail: From interpreting data to translating inferences for making business decisions, an eye for detail and precision is the fundamental requirement of an Analyst. It is crucial for this precision to be maintained along every step of the process.
- Technical know-how: Familiarity with the information technology associated with handling volumes of data and comfort in using the appropriate tools for handling the same is an imperative skill that is required. Some of these tools include SAS, R, Python, SPSS and MS Excel.
- Effective communication: The job of an Analyst requires dealing with multiple stakeholders and therefore the ability to listen intently, absorb information and ask relevant questions. Further, Analysts would also be required to be fluent, both verbally and in written, in communicating and delivering project details.
- Critical thinking: This is especially important given the uncertainties embedded in projects while trying formulate a feasible solution. An Analyst needs to able to recognize the possible uncertainties by critically evaluating a given task and weighing the pros and cons of the situation to ultimately decide on a course of action.
As a fresher, you may or may not have all of the above mentioned skills which are required of Analysts. Fortunately, that doesn’t mean that it’s the end of the road for you here. This is where the role of good Analytics programs will help in giving you a head-start in your Analytics career.
What makes a good Analytics program?
The ability to help you in developing all of the above mentioned required skills to become an effective Analyst is what constitutes a good Analytics program. This means that the program curriculum should comprise teaching of both hard and soft skills.
According to icrunchdatanews.com, the hard skills that the Analytics industry demands and thus would need to be taught to you are:
- Big Data technologies including Hadoop, MapReduce, Hive, Pig, Cassandra.
- R, Python, PHP, Ruby, Matlab, JAVA, C++, SQl, SAS, SPSS.
- Multivariate statistics – regression, principal components analysis and clustering.
- Data-driven predictive model development.
- Large Dataset experience using Teradata, Oracle or SQL.
- Business Intelligence tools including Business Objects, MicroStrategy and Tableau.
Another important constituent of what makes a good Analytics course is practical application of theoretical concepts. What tends to happen is that students are often made familiar only with the theoretical concepts but are oblivious when it comes actually putting the theory to its use. Therefore a good Analytics program would ensure that students learn practical application of Analytical concepts. This can be done through live case studies, real-life simulations of situations and industry exposure.
Soft skills also have a major role to play in today’s business context. Their importance is imperative in establishing and maintaining relationships with numerous stakeholders involved in making business decisions. Therefore, a good Analytics program will see to it that these soft skills are also being taught to its students. This includes fluent verbal and written skills in communicating project details and the ability to present the meaning and interpretation of data. It is crucial that this be done smoothly, as if narrating a story to the organization’s stakeholders. Further, another part of being an effective communicator is being an intent listener, absorbing information and asking relevant questions. These skills should not only be taught, but also practiced.
Take the BRIDGE to your future in Analytics:
A joint venture of HT Media Ltd. and Apollo Global (U.S.A.), BRIDGE School of Management introduces its Predictive Business Analytics program for Freshers (PBA Freshers). This 11 month program is in an exclusive collaboration with Northwestern University School of Professional Studies (SPS), whose analytics program is ranked among the top five in the world by Predictiveanalyticstoday.com and Datanami.com.
Dr. Arindam Banerjee (Professor of Marketing & Quantitative Methods, IIM Ahmedabad Ph. D., State University of New York at SUNY Buffalo) at BRIDGE School of Management
It has been ranked 6th nationally and 2nd in North India and includes training in popularly used business analytics tools such as Excel, R®, Hadoop® and SAS® so that you are up-to-date with the requirements of the industry. Furthermore, the program includes a 6-month internship at an organization so that you can gain hands-on experience in dealing with data in a live business environment!
Moreover, with its contemporary teaching methodology, the mode of delivery of the program takes place through a Flipped Classroom concept. This refers to:
- Face-to-face classes with Industry-practitioners and leading academicians as Faculty, taking place 4 days a week.
- Online self-learning through the week, using a mobile-friendly, state-of-the-art Virtual Learning Environment (VLE) which is accessible 24×7.
This is easily one of the most comprehensive programs in the Analytics domain in the country! So go ahead, your days of hesitation regarding “what next?” are now over. Enroll for the Analytics program at BRIDGE and get ready to embark on a journey that will transform your future.
Click here to know more about the Industry Faculty and Analytics Career options.