Business Analytics the need of Future

Information is the oil of the 21st century, and analytics is the combustion engine. -- Peter Sondergaard

When we talk about the term Business Analytics, it is a combination of Data Analytics, Business Intelligence and Computer Programming. It is the science of analysing data to find out patterns that will be helpful in developing strategies. Analytics is a process which is done in almost every company in each and every industry in the world.

The following can be explained as, when you go to Dominos, they take your contact number and add it in their database. The company uses this contact number to track your orders placed at any branch of the franchise. Also, if they find out that you haven’t placed any orders for a long time they send you discount coupons to attract the customers. This way they are able to maintain a good sales using Data Analytics.

This shows the huge amount of data collected on a daily basis and there is a dire need for analyzing the data and converting it into useful information. In today’s time Analytics is used everywhere, be it Companies to analyse their work or Government to get an insight of their policies for people even the teachers who analyses the performance of their students to set a teaching pattern. With the Growth of Artificial Intelligence and Internet of Things the data is growing at an exponential rate and this would certainly increase. Further, a study done by Interactive Data Corporation (IDC) it is estimated that by 2025, Data creation will reach 163 zettabytes. This will lead to a Huge demand of Data Analysts who would use Data Science to generate insights by unearthing patterns and by decoding this data to help the companies in standing head to head in the tough competition and through data analysation help to get a way over to their competitors.

After analysing the Current Market Scenario and keeping in mind the need of the hour, our college Symbiosis Centre for Management Studies, NOIDA introduced BBA in Business Analytics in the Academic year 2018-19 to give students more options and enhance their Learning opportunities. The Subject offers a huge scope as the requirement for Data Analysts will increase multi-fold in the future. The Course Structure at SCMS NOIDA is also designed keeping in mind that a student coming from any background whether it be Science, commerce or Arts can adapt to the course, and the teaching is done from the scratch. After doing some analysis of the course structure and Foreseeing the scope, I decided to take business analytics as my specialisation subject.