Data Science & Business Analytics
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Dr. Ravi Bapna is the Associate Dean for Executive Education and the Curtis L. Carlson Chair in Business Analytics and Information Systems at the University of Minnesota. Bapna specializes in helping companies use data science, AI, ML, and business analytics for competitive advantage.
Prof. Usha Lenka is a professor at the Department of Management Studies, IIT Roorkee. She has completed her Ph.D. from IIT Kharagpur. Prof Usha has an academic experience of 14 years and has done prolific research in the areas of investments in knowledge and innovation.
Data Science: Data Science refers to the extraction of insights from the data gathered using different methodologies. The process involves identifying the problem, performing an exploratory study on the data, modeling the data using various algorithms, and finally visualizing the results through graphs, dashboards, and more.
Business Analytics: Business Analytics is a field that involves building simulations and analysis models to understand realities, create scenarios, and predict future states of business. In simpler words, it’s a practice of combining key data about organizational performance to improve the planning and performance of a business
Here are some of the best foundation courses in DS & BA for beginners:
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IBM had predicted that the demand for Data Scientists will grow by 28% in 2020. Going by the recent trends, there are more than 54,000 global data science jobs posted on LinkedIn alone. In fact, “Data Scientist” was one of the top 50 job profiles in the United States and is considered the most promising career in 2021. And so is the case with Business Analytics. As per a report by McKinsey Global institute, there is a requirement of 140,000 - 190,000 individuals possessing Business Analytics skills in the USA alone.
Here are some of the top job titles in this field:
For a DS & BA aspirant it is mandatory that he/she invests a great amount of time and effort in mastering today’s most important data science and business analytics concepts. Aspirants need to have an in-depth knowledge of databases, data engineering, and programming languages such as Python and R. Additionally, an understanding of machine learning, and data visualization tools like Tableau gives aspirants a competitive edge in the field of data science.
Data Scientists and Business Analytics managers are offered lucrative salary packages globally. The average annual salary of a data scientist is around $96,494 in the United States. An experienced data science professionals can command even higher salaries ranging up to $137,000 annually. On the other hand, a Business analytics manager earns around $95,920 annually, with experienced professionals earning up to $127,000 per annum.
Data-driven decisions have helped companies achieve higher ROI and various sectors across industries are hiring data scientists and business analytics professionals now. Information technology, retail, eCommerce, BFSI, manufacturing, biotechnology, and telecommunication are some of the top industries seeking data science and business analytics professionals
Here are some of the top companies hiring professionals in this field: