According to Interactive Data Corporation (IDC), data creation is expected to reach an estimated 163 zettabytes by 2025. Big institutions, giant conglomerates, Governments, Entrepreneurs and almost every other establishments are using data, unearthing patterns, analyzing the same, decoding them and generating insights that will help improve the competence and efficiency of the organization. Companies, big or small, are now looking for analysts who can offer ground breaking solutions to existing business problems. Learning Business analytics is the only answer to people interested in getting this done.
Due to a constant demand and an ever-increasing focus on developing new insights and understanding of how data is used to power business decisions, IIM Indore, in association with Jigsaw Academy, is all set to launch a 10-month Integrated Program in Business Analytics (IPBA).
Let’s begin the discussion about understanding Business Analytics by considering the difference between Data Science and Business Analytics – a very common doubt that pops up in a person’s mind, you would agree. Though these topics may start to resemble each other a lot, there is a stark difference and distinction as well. Just because advanced statistical algorithms are used on data sets, it does not essentially mean that data science is involved in the process. Without getting the specialized skill sets in data science involved, a business analyst can use a wide range of sound business analytics tools (that exists) to fulfill functions automatically.
Agreed, that data science does involve more custom coding and a lot of open-ended questions. But a data scientist does not generally venture out to crack a specific problem, as most business analysts may do. Rather, they try and interpret data using advanced statistical methods to their advantage and allow the features in the data they have decoded to guide their estimation.
The foundation of any successful business—be it for a startup or for an established big player—is being able to give their customers what they want, even without them asking for it. And guesswork is just isn’t enough to figure that out.
Even if you are not part of the business world, you still contribute to and get confronted by the idea of data almost every day. Data is everywhere. Without even trying, you create data – when you log on to Facebook, when you browse through Google, when you send tweets, even when you download a new app from your Play store/ App store.
The best part of this Integrated Program in Business Analytics is that it does not require you to come from a business background either. IIM Indore’s IPBA is for anyone who wants to manipulate data and, also actively utilize this data to solve their organization’s hitches and glitches.
Always remember that data is a potential gold mine of information that will give your company an edge over the others. And this becomes a reality if you can master the art of mining, gathering and analyzing it and getting to put it to good use for your establishment. Go mainstream with the Integrated Program in Business Analytics, directed by IIM Indore and powered by Jigsaw Academy; a program from a learning partnership that will take the guesswork out of analytics.