What is Business Analytics? - Dr. Kamal Kishore Sharma (Ph.D. IIM-A) | Taxila Business School
ฝัง
- เผยแพร่เมื่อ 4 ต.ค. 2024
- What is Business Analytics and How it drives careers and businesses ahead in future?
Trainer - Dr. Kamal Kishore Sharma, IIM-A, Ex-CEO ArcelorMittal Subsidiary.
Chapters in this video
0:33 Business analytics applications and why important?
02:20 How Business Analytics useful for past and future?
05:14 All About Data
06:44 Power of Data
07:38 What is Business Analytics
10:24 The future of Business & Data Analytics
The world around us is changing fast. Technology is driving our personal lives and businesses in multiple and myriad ways. Look around and you will witness a sea change in our communication pattern through internet, social media, mobile devices and our activities as a consumer in the way we book cabs/hotels, tickets, we shop, we surf etc. The power behind everything above is digital communication technology and data analytics powered by the communication (mobile) and computing devices (computer/laptops etc.) and communication (internet, wireless etc.).
You can now not only understand the past better but can also predict better. Businesses stand to gain much more because they can organise efforts around collection of data and its analysis as a part of their daily businesses and utilise the results at scale to justify the cost. The CXOs increasingly do not have the luxury to take decisions on gut and then depend on luck & competition to prove it right. A lot is being done already to find applications of data analytics in banks, modern retail, insurance, media, education, manufacturing, FMCG goods etc. to understand the past performance, take informed decisions and predict the consequences of those decisions better. It is becoming an indispensable tool to better understand their business partners, competitors and customers.
Business analytics is thus the practice of using data analysis to understand and drive business strategy and performance. The exponential growth in data is a key driver of the power of business analytics related changes that are sweeping the businesses today. We are doubling the data generated every year. Data can take many forms like voice, video, image, text, numbers etc. There are sensors that catch data almost everywhere.
There is thus no doubt that Business Analytics is an incredibly powerful decision-making tool driving people and performance across organisations. The future is even more exciting as predicted by Harvard University. There is a huge demand for this skill if it comes with functional domain knowledge. This is the reason why an MBA with a combined specialisation in functional domain as well as business analytics is a prized qualification. The starting salaries of business analysts are more than 7 Lakhs INR (Glassdoor, 2021). The pre-requisite skills required for a Business Analytics specialization are comfort with mathematics and statistics. Beyond that, it is more about love for numbers and an analytical, learning and hard-working mindset. There are a good number of institutions that provide short term courses but a very few institutions that integrate Business Analytics in their MBA specialisation streams. A few of them coming to mind are IIMA, IIMB, Great Lakes, NMIMS, KIIT, Taxila and a few more
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Well explained! Sir can you please tell jobs and career opportunities in business analytics. 🙏
Desperately waiting for such video...
Same..
True man ♥️
Nice said
Well said sir
Right
One of the most informative session on Business Analytics. The examples you pointed here gives a much deeper insight of Business Analytics. Looking forward for such sessions.
One of the fantastic videos on businesses analytics . Taxila people are wonderful
So much to understand about Business Analytics.... thank you sir
Thanks Aditya...it eventually comes down to how eager are you for knowledge.
Love the way you teach Sir. Very clear Thank you ♥️
Well clarified with adequate examples 👌👌
Well explained. Nice video Sir.
Very well explained Sir !!
Badhiya sir
Excellent 👌
Harvard will be the best to do business analystics
Yes! There is no doubts about it.
However Harsh....not everybody gets into a Harvard. A thought process points that there is an excellent student in every student, they just need to harness their potential. SImilarly, there is a Harvard potential in every PGDM/MBA college, they just need consistency and systematic work in everything they do.
There are great Business Analytics specialisation opportunities in India too like Great Lakes or Taxila. Not everybody gets to a Harvard or an IIMA or a CEO position but everybody can reach to the best of their potential.
Sir i am also thinking of doing MBA in Business Alanytics. Do you prefer me doing the same? What do you think is the scope of MBA in Business Analytics in near future
Any Graduate can do MBA in Business Analytics. You only need to have a willingness to learn and desire to do hard work. For scope, please read one of the replies above.