Why Should Students Consider Pursuing PGDM in Business Analytics?

In today's data-driven business environment, analytics has become essential for organizations to gain valuable insights and make informed decisions. With the increasing demand for analytics professionals, pursuing a post-graduate diploma in management with a specialization in business analytics can open up a world of career opportunities. In this article, we will discuss why one should consider pursuing PGDM in Business Analytics, along with some statistics and reports on the growth of the business analytics job market.

Business analytics involves the use of statistical and computational methods to extract insights from data and make data-driven decisions. The use of business analytics has become widespread across industries, ranging from finance, healthcare, retail, and manufacturing to sports and entertainment. According to a report by Grand View Research, the global business analytics market size is expected to reach $129.89 billion by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The increasing demand for data-driven decision-making and the need for real-time analytics drive this growth.

One of the significant advantages of pursuing a PGDM in Business Analytics is the high demand for analytics professionals. According to the International Data Corporation (IDC) report, the worldwide big data and business analytics market will grow from $130.1 billion in 2016 to more than $203 billion in 2020 at a compound annual growth rate (CAGR) of 11.7%. This growth has led to a shortage of skilled analytics professionals, creating lucrative job opportunities for those with the right skills.

Additionally, a report by NASSCOM predicts that the Indian analytics industry will grow to $30 billion by 2025, creating a demand for 2.5-3 lakh analytics professionals. The report also highlights that the demand for data scientists and machine learning professionals in India is expected to increase by 50% by 2021, demonstrating the potential growth opportunities for professionals with expertise in business analytics.

Pursuing a PGDM in Business Analytics can also provide individuals with the skills required to excel in the field. The curriculum typically includes courses in statistics, data mining, machine learning, and data visualization, among others, providing students with a comprehensive understanding of data analytics. Additionally, the course often includes industry-oriented projects, case studies, and internships, providing students with practical exposure to real-world analytics problems.

The demand for skilled analytics professionals is rapidly increasing, creating a world of opportunities for those with the right skills. Pursuing a PGDM in Business Analytics can equip individuals with the necessary skills and expertise required to excel in this field. With the business analytics market set to grow in the coming years, pursuing a career in this field can be a rewarding and fulfilling choice for those interested in data-driven decision-making.

About the author

 

 

Dr Samala Nagaraj, Associate Dean, School of Innovation and Management-SOIM

Note: The views expressed in this article are solely the author’s own and do not reflect/represent those of Shiksha