With MBA colleges out there in every street of various Tier-1 and Tier-2 cities of our country, thesupply has far exceeded the demand for these professionals. Organizations have been forced to pick and choose colleges to hire graduates to maintain quality of the hiring. In a recent article titled
“How MBA has wreaked havoc in India”, Prof. Harish Choudhary, has explained the current situation very aptly.
These students finally end up re-orienting their expectations and dreams. “Analytics” can be one great career option which these students can take up to fulfill their dreams. Why I say this is based on a lot of reasons that I will list down now. Analytics can be a natural course of path for MBA graduates as the skill sets required for a data scientist is an extension of what graduates learn in an MBA program.A program with a specialization in business analytics is valuable because it allows students to understand how to collect, sort, and understand the implications of data, and then to understand how to leverage data to meet strategic goals. While careers in business analytics can range from analyst-level positions to business intelligence managers, the concepts can be applied broadly, especially in marketing, supply chain, and operations functions.An MBA graduate usually acquires various skills throughout the program which varies from handling pressure to managing teams.
Some of the skills are listed below:
1. Business Skills – Presentation skills, Soft skills, Ability to see the big picture
2. Functional knowledge of either Marketing, Finance, Operations, IT etc.
3. Analytical ability –Data Interpretation, Logical Reasoning, Quant and Basic Statistics
Let us now look at what are the skills required for an Analytics profile
1. Domain Knowledge – To understand the data well and be able to figure out important parameters
2. Statistical Ability – Affinity to numbers – To work on building models through statistical tools and technique
3. Basic Programming skills – To be able to handle huge data sets, learn basic programming language like R for implementing statistics.
If we look at the skills required by Data scientists, it is an extension of skills learned during an MBA course. Organizations have realized this fact and now do not look to fill these positions only through students specialized in Statistics but are going around the MBA schools.The demand for professionals with Analytics skills is increasing at a rapid rate and students in Tier-2 and Tier-3 MBA colleges should look to up-skilling themselves to become industry ready and get back on track to fulfill their dreams.