At a time when most business organizations are embracing the digital it is vital for job seekers to earn skills in digital technology. The advantages of analytics in this regard deserves special mention.
A field ripe with opportunities!
The work of a data analyst or a business analyst is to analyse data so that meaningful insights can be excavated on the basis of which business leaders take smart and informed decisions. Given the prominence of data driven growth strategies of many business organizations, the demand for skilled analysts is very high.
Moreover, data analytics is applicable to a multitude of industrial sectors and also on important fields like healthcare, research, defence and banking. As a consequence, business analytics as career choice is full of opportunities and many are interested in acquiring necessary skills from a good business analytics course.
Why analytics is increasingly embraced by companies?
In a survey by Bloomberg Business week Research, it was reported that as many as 97% participants of the survey acknowledged using Business analytics. This is because if utilized properly business analytics can prove very profitable for businesses as it serves to save time and money and helps to drive growth.
For instance, according to a study by McKinsey and Company, business analytics is utilized for making better marketing decisions which in turn can increase productivity by 15% to 20%. According to a report by Deloitte a single data-driven initiative can save a firm anything between 5 to 12 million USD!
Netflix uses predictive analytics to retain customers quite successfully and in India Swiggy utilizes business analytics to add thousands of new customers every day!
Hence business analytics is imperative for organizations nowadays which has increased the demand for skilled analysts phenomenally. This why earning analytics skills from a business analytics course can be very beneficial.
Which analytics skills should you focus on?
Business analytics requires expertise on multiple tools and proficiency on certain core statistical ideas. Some in-demand business analytics tools are-
R or Python
Both R and Python are highly popular programming languages used in statistical analysis and both has a variety of useful libraries loved by analysts worldwide. While Python is easier to learn and apply, R is a very useful statistical language offering multiple advantages in data science.
Software packages like SAS and Tableau
SAS is a commercial software suite used by most of the fortune 500 companies and thus it can be highly useful in securing a job in corporate giants. Tableau is another software suite preferred worldwide because of its amazing data visualization capabilities.
Database languages like SQL
SQL is the standard for interacting with relational databases and is a must if you are aiming at big-data analytics.