Data is necessary for organizations to make decisions and enhance their development & growth. It plays a pivotal role in making quick changes and significant judgments. Data helps to predict shifting dynamics throughout the world and enables organizations to survive in any circumstance.
“Business analytics” refers to statistical methodologies and software tools that assist business executives in analyzing historical business patterns and making predictions for the future. The focus is squarely on making future decisions and learning from previous patterns. Analyzing such extensive data collection requires a firm grasp of computational methodologies. In today’s world, particularly in the post-pandemic era, the scope of business analytics is expanding. Several critical soft skills are required for someone working in business analytics.
Top soft skills requirements every analyst should possess:
Communicate effectively: When interacting with stakeholders, it is critical to avoid jargon and technical vocabulary. This assists in four ways:
- Defining a project’s aim.
- Asking clear questions that lead to the proper answers.
- Communicating your results to business leadership.
- Preparing reports and requirements documentation.
Lead meetings: While email offers an important written record, certain stakeholders may feel better at ease sharing specifics in person. You need to know how to keep everyone on track and on topic and provide follow-up as required. If the meeting is a workshop or presentation, provide your agenda ahead of time and adhere to it, since this will guarantee that people come prepared and are not caught off guard by unexpected topics.
Listen attentively: Try to comprehend what someone is saying and the context in which it has been said. For example, what may motivate a certain department to make a request—is the team understaffed, underfunded, or lacking in resources? Did a prior storey paint the team in a negative light? This information will help you gather facts.
Create visual models: Business analytics operations often generate a large amount of data. It might be difficult to grasp and interpret when presented as text, particularly for busy executives who need to make quick choices. Visual data representations will give a high-level overview while also providing extra degrees of depth for those who want more information.
Manage stakeholders: A business analyst interacts with stakeholders at all company levels, from top management to front-line employees. Each will have different project needs and expectations, as well as different degrees of support for your job. Meeting everyone’s goals will require a careful balancing act.
Some of the job roles that one can adopt after a degree in Business Analyst are:
- IT Business Analyst
- Data Analysis Scientist
- Business Analyst Manager
- Quantitative Analyst
- Data Business Analyst
If you are interested to pursue MBA in Business Analytics, then you should be very careful in choosing the institute which has the necessary infrastructure and skilled faculty members to make you an expert. Out of the very few institutes that has this capability, BITS Pilani is one.
BITS Pilani is one of the few Institutes of Eminence in the country. Awarded 17th position nationally under the Best University category in NIRF 2021 rankings, BITS Pilani has always facilitated top-notch education. The Department of Management at BITS Pilani has demonstrated excellence in every sphere, and its wonderful placement records are the testimony of the same.
Considering the rising demand of business analysts in the industry, BITS Pilani has developed a unique curriculum designed around the same. It is a UGC-approved program spanning across 4 semesters. This program allows one to learn advanced topics like Tableau, Python, R, and Excel Based Modelling. The integration with industry experts helps one to get practitioner-oriented insights. The final semester project helps students to assimilate all their learning throughout their program. The experiential learning methods expose students to real-time case studies and assignments, that help make learning more fun and interactive. The program’s main aim is to help students gain deeper insights into the field of business analytics and make them adept with both technical and soft skills.
Considering the rising demand for business analytics and changing market trajectories, this indeed remains one of the stellar career paths to be explored.
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