MBA in Business Analytics a career aid for Market Analysts

Business analytics is a procedure in which the huge volume of data available is collected, evaluated and useful findings are drawn. Companies now use computational methods to assess if data can be leveraged to address challenges and maximize productivity and sales, regardless of their scale. The significance of Business Analytics methodology helps the organization to know how the company varies from using the latest marketing strategies of other rivals in related markets. It can also evaluate the past marketing strategies
Every organization has a huge volume of data that needs to be managed and interpreted to find out conclusions that can boost the profits of the organization. MBA in Business Analytics is concentrated on teaching the aspirants business fundamentals with a data-driven perspective. Right now this is the most popular MBA course preferred by students who want a flourishing career in the business world.

Pedagogy of MBA in Business Analytics

MBA in Business Analytics is a post-graduate management program for two years. The curriculum while on one hand comprises of traditional management subjects like

• Management
• Leadership
• Economics
• Finance
• Marketing
• Operations management

The course also has the following data-focused subjects in addition:

• Database management
• Computer simulation,
• Social media analytics
• Data mining for business analytics
• Artificial intelligence
• Data science in markets
• Marketing analytics and marketing, supply chain
• Regression analysis

How learning Business Analytics can help Market Analysts
The primary responsibility of a market analyst is to understand the needs of the customers of a business. Market analysts by studying the data collected track behavior patterns of customers and forecast consumer trends. Let us now understand how studying business analytics can help marketing professionals understand the market better.

• Distinctive Segregation
  With business analytics acumen gained from post-graduation study, a market analyst can create segmented reports and make better strategies for allocating resources, understand market trends and consumer demands which will help in creating a better business plan for a higher ROI.
• Optimizing Marketing Mix
  Marketing stands on four aspects:
  • Product
  • Place
  • Price
  • Promotion
    A proportionate mix of these four concepts in the marketing plan helps market analysts drive optimum sales. The professional curriculum of an MBA in business analytics helps analysts to make the appropriate marketing mix that will create profitable marketing strategies.
• Competitor Analysis
  Analysing a competitor’s strategy helps in determining the areas of improvement of a marketing plan. Formal training in business analytics helps marketing analysts to figure out the flaws of the current plan and devise better strategies to gain a competitive advantage over competitors.
• Sales Performance and Sales Pipeline Analysis
  The efforts of a marketing analyst are all targeted towards growing the revenue of the company and converting prospects of the sales pipeline to loyal customers. With the knowledge of business analytics together with industry-specific tools, analysts can easily determine the area of amendments, or how they can boost sales performance, device a faster and efficient process of converting leads to direct sales, and thereby improve ROI.

In addition to the above-mentioned acumens, MBA in business analytics also gives a fair understanding of Predictive analysis, Artificial intelligence, Machine Learning, Big Data, and other analytical tools that are indispensable qualities of a professional and skilled market analyst.