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Earning an MBA in business analytics is one of the best career decisions you can make if you want to work in a leadership position and expand your business knowledge.
A report by NASSCOM projects that by 2025, the Indian analytics market will have doubled to a valuation of $16 billion (Source). This suggests a huge increase in the demand for qualified business analytics specialists, and those who have the necessary skills to use data fully will have numerous opportunities in the future.
Given the extensive curriculum and potential scope, feeling lost during the MBA enrollment process is normal. No need to worry; we are here to help you review everything you need to know before starting an MBA business analytics course (2024).
What is an MBA in Business Analytics?
MBA in business analytics is a standard MBA that focuses on business analytics. This is usually a two-year program after college that helps students learn more about using data to make business decisions.
An MBA in business analytics combines various disciplines, offering foundational knowledge in business, leadership, and management. It also improves communication skills, includes technology, and teaches specialized techniques unique to business analytics.
Who is eligible for an MBA Business Analytics course (2024)?
To earn an MBA in business analytics, one must fulfill academic requirements. The eligibility criteria for MBA business analytics are as outlined below:
- Candidates must have a bachelor's degree from a recognized college or institution with at least 50% marks overall. Some MBA schools and colleges require a higher minimum cut-off grade for admissions.
- Candidates must graduate from any stream before seeking an MBA in business analytics. Candidates who have passed the final-year graduation examination and are awaiting results can apply.
- Valid results on national MBA entrance tests, such as the CAT, MAT, CMAT, and others, are considered for admission to MBA programs in business analytics.
- Professionals in the workplace who fit the stated requirements are welcome to apply. But, they must include information about their previous employment when filling out the MBA application forms.
Essential skills required for MBA Business Analytics
The field of MBA business analytics is expanding, and the course will help the students advance in their careers. Students need specific skill sets for this, which will benefit them academically and professionally.
The essential skills that a student must have to pursue an MBA in Business Analytics course include the following:
- Good communication skills
- Interest in management
- Good analytical capabilities
- Data visualization skills
- Time management skills
- Leadership skills
Fees Structure
MBA business analytics fees are another key consideration for students enrolling in the program. The fee structure includes tuition fees, scholarships, and other costs, which vary from one institute to another.
- An MBA in business analytics program spans two years (four semesters). The combined cost of the program may vary depending on the institute. As a result, applicants must research the fee structure based on their budget before deciding.
- The cost of an MBA in business analytics ranges from INR 3 to INR 15 LPA.
- Many institutions offer scholarships and other financial assistance to worthy applicants, reducing the burden of MBA business analytics fees. These scholarships could be awarded based on need or merit. Full or partial scholarships are sometimes available. Students must apply as soon as possible to be eligible for these opportunities.
MBA Business Analytics core subjects
An MBA in business analytics has a broad curriculum that covers a wide range of topics. It offers both core courses and electives. They help students get an in-depth understanding of business analytics and management. Some of the MBA business analytics subjects are:
Semester 1
During the first semester, students learn about the core subjects of management, including:
- Financial and management accounting
- Managerial economics
- Quantitative methods
- Managing people & organizations
Semester 2
In the second semester, students will be introduced to research methods, business intelligence, and optimization topics. This covers subjects such as:
- Marketing
- Advanced statistical methods
- Foundations of data science
- Strategic management and business policy
Semester 3
The third semester covers subjects such as:
- Financial management
- Predictive analytics
- Analytics for competitive advantage
- Operations management
Semester 4
In the last semester of the course, students learn about business rules, strategy, and analytics, including:
- Big data analytics
- Operations and supply chain analytics
- Strategic management
- Legal and ethical aspects of analytics
- Project management
- Product management
MBA Business Analytics Admission Process
An MBA in Business Analytics is highly desired by candidates. As a result, there is a lot of competition for admissions. Although institutes may have different requirements, the standard procedure for MBA business analytics admission includes the following steps:
- You can apply if you have at least 50% in any university recognized by the Association of Indian Universities (AIU).
- The next stage is to pass any MBA entrance exam, including the CAT, XAT, NMAT, SNAP, or CMAT.
- Fill out the application form, ensuring all the information you give is correct.
- If you are selected for further consideration after the application process, you will receive a call letter and be qualified to attend the Computer-Assisted Personal Interview (CAPI).
- If you make it through the interview phase, you will be guaranteed a spot in the MBA business analytics program. You will then have registered successfully in your desired degree program!
Conclusion
Pursuing an MBA in Business Analytics in 2024 is a smart, professional move. This program equips students with the essential knowledge and skills to excel in business. With ITM, you can earn an MBA in business analytics and learn from the best. The program includes an industry-recognized curriculum, an internship, and in-depth knowledge and understanding of business tactics.
Frequently asked questions
1) What is the salary of an MBA in business analytics?
The salary of an MBA in business analytics ranges between INR 1.8 LPA and INR 2.25 LPA, with an average annual salary of INR 10.2 LPA (Source).
2) Is getting an MBA in business analytics worthwhile?
If you are considering earning a degree in business analytics, you are on the right track. A degree in business analytics can open various doors, including the possibility of working in several sectors. It will also provide the knowledge and skills you need to understand and manage data.
3) What is the scope of an MBA in business analytics?
The scope of MBA business analytics is extensive. After finishing this course, you can pursue a career as a business analyst, data analyst, data engineer, risk management analyst, or similar roles.
4) What is the basic qualification required to pursue an MBA in business analytics?
A bachelor's degree in any subject is the minimum educational qualification required.
Dignified with Rankings
Amongst India's most promising Hotel Management Institute by Higher Education Review 2021
Ranked Top Hotel Management Institute awarded by Times Education Icon 2022
Quality Education, Outstanding Administration & Leading Infrastructure by Educational Excellence Awards & Conference 2021
