Why are the top companies investing in business analytics mid - Covid?

The top most companies across various industries have always been data-driven in order to reach the place where they currently stand. It is more closely seen in industries that are data rich, like customer service, research and development, sales, and marketing, among others, make use of business analytics and other analytic tools the most in comparison to other sectors of the corporate world. This is mostly done to reduce the risks, improve the revenue of the company and to optimize the overall efficiency and performance of the company. 

Before making any conclusive decisions, companies always look at past data which gives the decision makers of the company an advantage from a strategic point of view. In today’s age, with the shift towards digitalisation, and the constant change in the consumer’s preferences, Business Analytics plays a very crucial role in the success of companies. 

Since the field of business analytics has been growing in the last few years, and continues to do so, companies are more and more inclined to investing in business analytics and the tools involved in this field of study. Business analytics utilises technology and statistics in order to understand and analyse consumer behaviour and insights. Based on this data that is accrued by companies about the customer, companies decide what they must do to increase their sales, advance their reach, target the customers and ultimately gain an edge over their competitors in the market. 

With the rapid change in the market, and the growing expectations of consumers, it gets harder and harder for companies to keep up with the evolving trends. This is another reason as to why companies are more and more inclined to invest in business analytics, in spite of the ongoing pandemic. In order to stay ahead, companies need to keep up with the new business trends and using business analytics allows them to do so. It helps them in paving the way from the journey of data towards insights. 

It is also pivotal to remember that with the growing number of cellphone and internet users, there is a large amount of data that is created and accrued. It is necessary for companies to utilise tools for business analytics as it would otherwise become impossible for companies to track, sort and analyse all the data that is generated by their consumers on a daily basis.

Since there is a growing demand for Business Analytics in companies, there are plenty of opportunities and job prospects for students in this field. Students with an MBA in Business Analytics are the ideal candidates for jobs in this field. However, since this field of study has gained popularity only in recent years, there are not too many business schools that offer an MBA in Business Analytics. Among the few leading MBA colleges, Bengal Institute of Business Studies offers an MBA degree in Business Analytics and Data Science. 

The program is designed in collaboration with IBM and has Subject Matter Experts from IBM teaching the students. BIBS also has Amazon Web Services Academy that provides certifications to their students which increases their chances of employability. The college also has an excellent placement cell and has had over 400+ companies visit the college for recruitments.