Adoption of Business Analytics processes in contemporary business environment

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Data is at the heart of business analytics and widely accepted as decision support tool. In earlier time, data was collected but in contemporary environment, data is available everywhere and at the disposal of every company. These big data trends are shaping the analytical patterns as well as increasing the usability of data all around the world. Moreover, knowledge of Business Analytics enhances the capability of the professionals to understand the data, selecting and building relevant models, using appropriate statistical tools followed by retrieving the results and use the results for informed decision making. Business analytics is a domain that focuses more on what to do next rather on why did it happen.

Ultimately data can be easily converted into dollars for the companies who have adopted such models earlier than others. Other than this, Business analytics has more to benefit small organizations and start-ups whose marketing budget is low but they have high business aspirations. For instance, small businesses want to have high customer acquisitions, informed decisions in real time and check the performance against pre-determined targets regularly. This is possible only if they invest in Business Analytics processes.

Seeing these evolving job opportunities and emergence of business analyst jobs in market, it has become imperative for Higher Education Institutions to delve in Business analytics domain. Here at Jaipuria institute of Management, we are equipping the students with combined specialization of functional domain knowledge like finance, Marketing, HR, Operations with Business Analytics. Besides classroom teaching and lab activities, our institution has organized plethora of three to five days workshops on Predictive Analytics using Python, Visualization using Power BI and Machine Learning and AI with Python.

DR. SHEETAL
ASSISTANT PROFESSOR
Jaipuria Institute of Management