Most businesses depend on business analytics professionals for analyzing data and making informed decisions. For this precise reason, there are umpteen career opportunities in the field of business analytics.
As a matter of fact, business analytics is one of the most important fields of a successful organization because businesses hold a large amount of data that must be made sense of. Effective decision-making is possible when a business hires business analytics professionals.
According to Allied Market Research, the global big data and business analytics market size was valued at $198.08 Billion in 2020 and it is also projected to reach as much as $684.12 Billion by 2030 while growing at a CAGR of 13.5% from 2021 to 2030.
Also Read: Why Chitkara University Can BE A Better Option For MBA In Business Analytics?
The numbers suggest clearly that business analytics is a field that will be demanded increasingly in the coming time. There are a number of career options that can be explored within the field of business analytics.
Let’s check the top 7 career options in business analytics in 2023 one by one.
- Business Analyst: One of the top career options in the field of business analytics is that of a Business Analyst. This job involves improving a company’s processes, products, systems, and services while continuously looking for areas that have a scope for improvement. Business analysts are required to identify what is feasible for an organization both technologically and financially. There is a rising demand for business analysts among businesses and enterprises. Many companies are also willing to pay high salaries to analysts, particularly certified expert-level professionals. In India, business analysts earn as much as INR 17 Lakhs per annum which is a figure that continues to increase with added experience.
- Data Analyst: Data analysis is an important aspect of any organization because it serves as a gatekeeper of data for an organization. A Data Analyst is a professional who works for collecting data through primary and secondary sources while making decision-making easy, quick, and precise.Data is everything in the modern world. Businesses are after collecting the data of customers they can make smart decisions. Even though Data analysts earn decently in India, they could start earning a lot more with more experience, skills, locations, and other factors.
Also Read: Top 7 Career Options In Business Analytics In 2023
- HR Analyst: A Human Resource analyst is a professional who uses computer applications and evolved methods for analyzing human resources data. These professionals gather, research, and analyze the data for finding and sharing vulnerable information with the management.The information collected by an HR analyst helps an organization look for better candidates, motivate employees, and manage staffing problems. There are many reasons why becoming an HR analyst is a good career choice. In the future, there will be an increasing demand for this profession just as a data analyst and business analyst.
- Marketing Analyst: Have you ever considered why companies actively post social media marketing strategies on the basis of a specific audience? This is a job done by the marketing analysts as they are equipped with figuring out the target audience.The marketing analysts are tasked with analyzing how they will run the campaign for reaching out and connecting with the target audience. Their job is important in the field of digital marketing. The average salary of a Marketing Analyst is INR 8-9 Lakhs per annum.
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- Supply Chain Analyst: A supply chain analyst is a professional who has to analyze the work of an organization and also improve it simultaneously. These professionals work with other organizations for finding if the supply chain is optimal and if it can improve.It can be the responsibility of a supply chain analyst to find problems in the present ongoing warehousing system of an organization while suggesting a better one so that operations become efficient. They are required to work regular hours and also do site visits at times.
- Data Scientist: The job role of a data scientist includes finding valuable insights from large data quantities so that a company can make informed decisions. This includes processes and algorithms for gathering insights from both structured and unstructured data.Data Science is known as one of the highest-paying fields. On average, a Data Scientist earns INR 10.5 Lakhs per annum and this ranges from INR 4.5 Lakhs per annum to INR 25.2 Lakhs per annum.The salary in this field depends on the skills and expertise of a professional. With more experience, a professional can earn more and more. In the future, the field of Data Science shows great promise.
Also Read: What Is Data Science & Analytics, Job And Future Scope
- Financial Analysts: Financial analysts are professionals who are experts at understanding the financial climate and judging whether financial assets are undervalued or not. These professionals are required to study the market trends, microeconomics and macroeconomics factors for making suitable investments.It is the duty of Financial analysts to know how the company invests its resources and secure investments. They offer valuable advice on protecting the wealth of a company in difficult times and growing the same. The average salary of a Financial analyst in India is INR 16-17 Lakhs per annum.
Conclusion:
Business analytics is a lucrative field and there are many career opportunities that lie ahead in it. It is responsible for the persistent growth of a business and also helps in achieving the company goals.
Students must look for pursuing courses in the field of Business Analytics so that they can make a promising career in this field. It is an ever-changing and growth-oriented domain with plenty of opportunities.
If you are someone who is interested in the field of Business Analytics then Chitkara University offers programs in collaboration with Ernst & Young at undergraduate level – BBA in Business Analytics and postgraduate level – MBA in Business Analytics that can allow you to achieve your goals. Enrol today.
