February 04, 2022
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A data-driven MBA for the Future:
Data science continues to advance rapidly. Spending on big data will touch north of $215 billion globally, according to IDC. Terms like machine learning and deep learning have become ubiquitous as we generate more and more data — about 2.5 quintillion bytes of it — each day. Organisations that have amassed massive amounts of raw data need robust analytics tools to mine it for insights that can boost their performance. Data has made it possible to base crucial decisions on research, evidence, and accurate predictions.
If you are an upcomingprofessional or a current mid to senior-level management professional, the chances are that your employers will place a very high premium on your experience with data and analytics. As such, many working professionals are flocking towards executive MBAs with core specialisation in analytics.
1. The Growing Demand For Data-driven Management Roles
Fig- Skillset for Data-driven Management Roles
Despite data-driven processes growing by leaps and bounds, organisations continue to struggle to develop trained professionals and processes in tandem with technological progress. As a -result, data analytics jobs are growing exponentially, with Forbes bluntly advising aspirants to "become a data analyst/scientist."
Technology companies are proactively seeking to urgently bridge the gap between the demand for analytics skills and its acute shortage. Deloitte Insights have pointed out how a trove of data is useless without the talent to make sense of it. Its research noted how job postings for traditional skills like engineering, customer support, marketing and PR, and administration were noticeably scarce compared to the number of jobs posted by tech businesses for analysis skills such as machine learning (ML), data science, data engineering, and visualisation.
Moreover, even as the pandemic adversely affected business conditions throughout 2020, the job openings for data-driven roles remained consistently high. The bottom line is that the gap between the demand and supply for data-driven roles and skills is ripe for exploitation.
2. Potential Career Trajectories For EMBAA Graduates
For professionals to thrive in today's management roles, it is crucial to acquire specialised advanced analytical skills such as cluster analysis, data mining, and simulation algorithms. As a professional, your foundations may be rock solid, but innovation would demand that you continue to upskill. Executive MBAs in analytics or EMBAAs are tailor-made for this.
So, what kind of a career can you expect with an EMBAA? An EMBAA is a launchpad to help you gain a competitive edge over a traditional MBA program. This specialised course arms you with the tools necessary to leverage data for business opportunities. An Executive MBA with a specialisation in analytics can open doors to roles as diverse as marketing manager, personal financial advisor, financial analyst, business intelligence analyst, and business analytics specialist.
In the technology sector, the top employers looking for EMBAA graduates include Google, Bloomberg Philanthropies, Xiaomi, Dropbox, and Netflix. Whether you gravitate toward an analytical role, prefer a broader management one, or want to explore a new field, an EMBAA will help you achieve these goals.
3. Salary Range For EMBAA Graduates
Annually, about 3,60,000 MBA students graduate from 4000 B-schools in India. The average pay of an MBA graduate in India is Rs 7,99,122 (approx), which moves up to Rs 1,369,919 (approx) for a Business Insights and Analytics Manager. Furthermore, the average increase in salary of an MBA graduate stands at an impressive 18% (approx).
However, the overall benefits of an MBA are not fully encompassed by tangible numbers. These are supplemented by the intangible value a learner creates while pursuing their MBA degree. These include the opportunities to interact with corporate stalwarts and the academic brand association that remains with the aspirant for their lifetime. Another significant intangible benefit that a B School provides is a strong alumni network whose effects last through one's entire career.
With the ever-present need for analytics in business, the average salary of a professional with an MBA analytics degree is around Rs. 5L to 7L lakhs p.a (approx) in India. And if you are experienced and or a senior professional, you get a chance to earn between Rs. 30-55 lakhs p.a. (approx)12.
Recruiters are particularly keen on hiring Executive MBA candidates, with Accenture, Indian Ports Association, and Flipkart being among the top on-campus recruiters.
4. How IIM Kashipur Has Cracked the EMBAA Code
IIM Kashipur's dynamic EMBA (Analytics) programme was developed with deep research of globally benchmarked curricula. The programme focuses on key emerging areas, including Business Analytics, Artificial Intelligence, Machine Learning, Deep Learning, Management, and Strategy. Responding to the profound need for real-world problem-solving skills, IIM Kashipur's EMBAA is driven by a hands-on approach with case studies.
By learning about multi-dimensional management frameworks and deepening their understanding of data analytics, learners are equipped to take on data-driven management responsibilities and advance in their companies. Spanning a total of 900 hours, the EMBAA draws upon IIM Kashipur's strengths in traditional as well as cutting-edge management and analytics concepts. It comprises the ideal mix of core skills and elective courses that are offered across nine domains. This two-fold combination of building foundational strengths with flexibility is geared to the program's key outcomes, which aim at letting participants:
Given the exigencies of the current pandemic, the EMBAA seamlessly combines online and on-campus learning led by the IIM Kashipur faculty and industry experts, as well as an engaging and supportive alumni network. More importantly, one-to-one virtual meetings with faculty are facilitated to foster a rich exchange between participants and industry leaders. The EMBAA is thus a platform to enable participants to draw upon their existing experiences while building their skills for a lucrative career.
Anyone who has a keen interest in working with big data, someone who has a desire to engage in evidence-based research, can do an MBA in business analytics.
Business analytics is a growing field with a high demand for data analytics professionals. A skilled MBA analyst with good industry exposure is an investment that guarantees fruitful returns.
Like any other endeavour, an MBA in Analytics is challenging but with a wide scope to learn and grow.
An EMBA is ideal for working professionals with over 3 years of industry experience.
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