Why an MBA in Data Science is a golden ticket towards your bright career in management?
Big data and big data analytics are nowadays used by almost all businesses to create a competitive edge over their rivals. But, the most striking thing here is that to optimise the use of limited resources and deliver effective social services, many social and government organisations are also using analytical techniques.
Peter Sondergaard, Gartner, predicts that by 2020, the USA alone will have openings of 2 million jobs and 4 million jobs worldwide in Analytics. Currently, there are 75000 job openings available in India in data analytics.
For efficient decision making and building a competitive advantage over rivals, many industries are moving towards the emerging data analytics field. A data analyst’s prominent role is to uncover the hidden patterns from data and develop various statistical models to predict the future. To be a successful data analyst, an individual must possess the following skills:
Key Skills to be a Data Analyst
|Statistical Programming Languages – SAS, R, Python||Multivariate Statistics|
|Multivariate Calculus and Linear Algebra||Data Mining|
|Knowledge of Statistics||Machine Learning|
As a data scientist, you will be required to acquire, clean, and visualise the data. Additionally, you will probably require to build and train a machine learning model that can make future predictions based on past data. You will need to assess different marketing strategies with data in favour of the company’s future.
To be successful data scientists, you must possess the following skills:
Key Skills to be a Data Analyst
|Understanding of machine learning methods (both supervised and unsupervised)|
|Understanding of statistics|
|Ability to evaluate statistical models|
|Programming skills in Python or R, and familiarity with tools like Apache Spark|
Job roles under Data Analytics:
Job roles under Data Science:
Data Science Managers:
Data science managerial role is one of the better options for an MBA graduate in data science, if they have skills in modelling solutions, automating data, mining text, and storytelling. To be a data science manager, an individual must possess managerial abilities and a keen understanding of data science. Basic understanding of tools like R, SAS, SQL, etc. will be required for effective communication with the rest of the team.
As a product analyst, your responsibility will be to identify the target market, research, plan market strategies, and keep an eye on the product cycle. These individuals must be good at analysing the market and the data to develop product-related efficient marketing strategies. The role will include creating dashboards, measuring the performance, defining metrics for the business, etc.
Data Science Consultant:
Data science consultant must have excellent analytical skills and industry knowledge. These individuals will be required to create data science solutions and help them to be connected with the data. Using analytics skills, competencies, and understanding the mechanics of the business with valuable insights, data science consultants need to help the client.
The essential functions of product management require innovation, understanding, and driving business requirements. As a product manager, a data scientist will be required to find new applications based on the data’s insights fetched.
An MBA graduate in a data architect role will need to integrate, centralise, protect, and maintain the sources from where data is fetched. These individuals must possess Hive, Pig, and Spark’s knowledge and must be familiar with keeping track of every innovation in the respective industries.
A data engineer must have a software engineering background and should know how to handle the company’s databases. These individuals must possess skills in statistical programming and various programming languages for efficient web development.
A statistician will be responsible for extracting insights from the given data set. These individuals will be required to gather data and turn it into useful insights using their background in statistical theories and methodologies, and a logical and statistics oriented mindset.
Across the globe, many universities and institutes provide MBA in Data Science. The main focus of these programmes is on data modelling and programming. SRM University AP in collaboration with LEARNXT is offering MBA (Data Science) with two specialisations- Machine Learning & Artificial Intelligence and Business Analytics.
These intensive specialisations involve innovative learning techniques like case-based learning, experiential learning, supplementary learning, industry learning, and one-on-one mentorship-based learning. The programme content is created by industry experts & as per the current industry needs and is delivered by the best of industry practitioners and faculties from IIT & across the globe with relevant background in the domain.
The internship in the programme will help you gain valuable work experience, explore a career path, give you an edge in the job market, develop a network with professionals in the field, and allow you to test specific techniques learned in the classroom before entering the working world.
Stay tuned to LEARNXT to know more about MBA in data science.