Business Analytics: Why it Matters?
The Industrial Revolution has been defined as the transition from creating goods by hand to using machines. It has transformed our societies and the world around us. We have witnessed this transition in terms of the epoch of the steam engine, the era of science & mass production, and the upsurge of digital technology.
Today every business is using digitised services. The global tech companies, the local grocery shops in your neighbourhood, as well the fruit and vegetable vendors near you are also using digital platforms. Huge data is getting generated with a velocity that we haven’t experienced earlier. The variety of data generated out of these transactions has veracity and finding a value out of that is not only important but challenging too!! Technology and data are considered the new oil for businesses across sectors. And here comes the term Business Analytics.
Frankly speaking, Business Analytics is the process by which businesses use statistical methods and technologies for analysing historical data. This helps them to get new insights and also improves strategic decision-making. Today Business Analytics is emerging as one of the most lucrative career options in terms of salary and growth. Maybe, one may refer to the Glassdoor, Gartner or McKinsey reports.
Q: What is unique about IES Management College and Research Centre?
- IES's Management College and Research Centre (IESMCRC), Mumbai, uses excellent atmoshphere and teaching style.
- The process for the IES MCRC courses is up-to-date, and it prepares students for the workplace by adapting to its demands. The IES MCRC provides a summer internship in addition to a number of management projects.
Q: What is IES Management College and Research Centre famous for?
IES Management College and Research Centre is famous for the following:
Postgraduate Programs in Management: IES Management College and Research Centre offers a range of postgraduate programs in management, including an MBA, MMS, and PhD.
Premier Management Institute: IES Management College and Research Centre is recognized as a premier management institute and one of the top 50 management colleges in India and the top 10 colleges in Mumbai for management studies.
Industry Alliances: IES Management College and Research Centre has industry alliances with CII, IMC, ISTD, NIPM, AMDISA, IDMA, and many more.
Full-Time Management Programs: The institute offers full-time management programs, including PGDM and PGDM (Pharmaceutical Management) approved by AICTE. The flagship program of the Institute is a 2-year full-time residential PGDM course accredited with an MBA equivalence by the AIU.
State-of-the-Art Academic Infrastructure: IES Management College and Research Centre has state-of-the-art academic infrastructure with proficient faculty members with an average of 12 years of experience.
Entrance Test Scores: Admissions at IES Management College and Research Centre are based on entrance test scores and marks in previous academics.
Top-Ranked Programs: IES Management College and Research Centre is a top-ranked management college and research center offering top-ranked programs in business and management.
Q: Is IES Management College and Research Centre good for MBA?
-
Business Analytics vs. Data Analytics
Business analytics and Data analytics are the two different functions. While business analytics focuses on the larger business implications of data and the actions resulting from the insights; data analytics combs through huge datasets revealing patterns, and trends, helping to draw conclusions supporting the business decisions. Business analytics data sources are defined in advance based on project goals whereas data analytics deals with more ad hoc analysis with underlying data sources being added as the correlations are uncovered. Business analytics is more reflective and descriptive while data analytics attempts to answer precise questions and ascertain new discernments. Data analytics assists the line of business managers and data analysts whereas business analytics serves CXOs, analytics managers, Data Warehouse engineers and business analysts. Although they are different, in practice experts feel that the line between the two is getting faded and the individual who is interested in making a career should look at it more holistically.
-
Is it the right time to get into analytics domain?
According to ‘Analytics India Industry Study 2022, the analytics industry recorded a substantial increase of 34.5% on a year-on-year basis in 2022, with the market value reaching USD 61.1 billion. Various studies suggest that 3.5 quintillion bytes of data are created every day. In addition, the post-pandemic changing business models are also contributing to the data and insights that are required to draw value out of the huge data. The demand for tech solutions is transforming industries. While data is growing, demand for business analytics professionals and analysts is also growing, but there is a deficit in supply side. So, this is the right time to get into this domain.
-
What are the skills required to become a business analyst?
The role of a business analyst is constantly evolving and changing. Identifying and then prioritizing technical and functional requirements tops the business analyst's list of responsibilities. Today companies rely more on data for business operations, and every company has different sets of issues that they expect an analyst can address. So it varies from dealing with outdated legacy systems, to changing technologies, broken processes to poor client and customer satisfaction. Strong understanding of regulatory and reporting requirements as well as skills in analysing, forecasting, budgeting along with the understanding of key performance indicators is the added advantage. So a business analyst needs to have good communication and consulting skills, analytical thinking, problem solving and detail-oriented attitude and technical understanding.
Q: How is the college life at IES Management College and Research Centre?
As we all know that college time is one of the best years of our lives and to make it memorable,
IES MCRC makes sure that students receive the best facilities and opportunities in order to create a better future for themselves and serve society. and acheive their goals.
Q: Which technical events happen at IES Management College and Research Centre?
These events are organized in various genre of Robotics, Technical, Literary, Gaming and many more. Also, management colleges to organize various technical events to enhance students' technical skills and provide a platform for showcasing their talents. These events may include workshops, seminars, conferences, guest lectures, and competitions related to technical subjects such as information technology, data analytics, digital marketing, and more.
Q: Which cultural events happen at IES Management College and Research Centre?
Cultural Activities & Events happen are:
National Days, Republic Day and Independence Day are being celebrated in a grand manner every year. The Director & Senior Professor hoist the flag and all the faculty with students.
Freshers party and college anniversary, fest, cultural programme mostly organise there.
Q: What extracurricular activities and clubs are available for students at IES Management College and Research Centre?
Extracurricular activities and clubs available for students at IES Management College and Research Centre are:
Girl Scouts and Girl Guides.
Girl Scouts and boy scouts and boy guides for the quiz compitetions
Yoga session is one of most great activities
Group meetings for improve the communication between students
About the author
Dr Mrunal Joshi, Faculty of Business Analytics, IES's Management College and Research Centre
Note: The views expressed in this article are solely the author’s own and do not reflect/represent those of Shiksha
This account contains a repository of informative articles by external authors with domain expertise in various aspects of guiding students on how to go about pursuing their undergraduate and postgraduate studies in... Read Full Bio
News & Updates
Photos & Videos
+7
Contact Details
Address
IES MCRC "Vishwakarma" M.D. Lotlikar Vidya Sankul, 791, S. K. Marg, Bandra Reclamation
Bandra West, Mumbai ( Maharashtra)
Get details of Similar Colleges
Prin. L. N. Welingkar Institute of Management Development and Research, Mumbai
Student Forum
Anything you would want to ask experts?Answered a month ago
As a counseling expert, I recommend Christ University, Bangalore as the best option for an MBA among the choices. Christ is known for its strong academic reputation, experienced faculty, and robust placement record across diverse industries, including IT, consulting, and finance. Bangalore’s status
Contributor-Level 8
Answered a month ago
The cost of an MBA programme at Mumbai's IES Management College and Research Centre varies based on the program's duration and specialisation. The total cost of tuition for a two-year MBA programme is typically between INR 6 and 8 lakhs. To be eligible for these courses, you typically need to meet c
N
Contributor-Level 10
Answered 3 months ago
Hi,
The IES exam offers various engineering branches, and you'll need to opt the one that is most closely related to Production Engineering background. The closest options would be Mechanical Engineering or Civil Engineering probably, based on the specific courses you've taken in your degree.
Other t
P
Contributor-Level 10
Answered 4 months ago
The decision between Woxsen University and IES Normandie for an MBA programme is based on personal preferences and career aspirations. Prestigious French business school IES Normandie places a high emphasis on global business education, has strong ties to the European economy, and an international v
M
Contributor-Level 10
Answered 3 months ago
Based on the reviews and comments from students and alumni, here's a summary of the key points:
Infrastructure and Facilities:
* The infrastructure is average, with cramped and poorly maintained classrooms
* Limited parking space and no Wi-Fi during exams
* Library a
A
Beginner-Level 1
Answered 4 months ago
Placement Cell for MBA/PGDM at IES MCRC
* Efficient Placement Cell: The placement cell in IES MCRC is very efficient and listens to student queries.
* 100% Placement Record: The college has a 100% placement record, with most students securing jobs through campus in
A
Beginner-Level 1
Answered 5 months ago
More than 170 companies participated in the 2024 placements and selected 119 students. Further, the highest package (on-campus) stood at INR 18.33 LPA. Check the complete insights of IES's Management College and Research Centre placements 2024 from the table below:
Particulars | Placement Statistics (2024) |
|---|---|
the highest package | - INR 18.33 LPA (on-campus) - INR 10 LPA (off-campus) |
Average package | INR 7.20 LPA |
Top 10% Average package | INR 9.60 LPA |
Top 20% Average package | INR 9.30 LPA |
Top 50% Average package | INR 8.10 LPA |
No. of companies | 170+ |
Placement rate | 88% |
Students registered | 135 |
Students placed | 119 |
Top sector | Pharmaceuticals/ Healthcare |
A
Contributor-Level 10
Answered 5 months ago
The college has released the combined PGDM and PGDM (PM) placement report. As per the report, the average package for the 2022-24 batch stood at INR 7.20 LPA. Earlier, the average package offered to the 2023 batch was INR 7.50 LPA. From 2022 to 2024, a fluctuating trend was observed in the overall a
A
Contributor-Level 10
Which college is best for MBA among LPU Punjab, MET Mumbai, IES Mumbai, Chetana Mumbai, and Christ Bangalore?