Prof. (Dr.) Surajit Ghosh Dastidar
Most companies are looking at real-time analytics and real-time decision-making. Machine Learning and Artificial Intelligence are the key innovative areas in this space today. Earlier, few companies were using ML and Data Science, but now with the availability of cheap computing power it has become mainstream.”
ARUN SINGHAL, PRODUCT MANAGER, INTUIT’S DATA & ANALYTICS DIVISION
Analytics in simple words is the science of understanding meaningful patterns from data which helps in taking informed decisions. These days, analytics has become a hygiene factor in every organization. Now, we are witnessing more and more innovative and sophisticated applications of analytics in health care, banking and financial services, marketing, operations, manufacturing, human resource and even in the social sector.
This has resulted in varied career prospects for the students who are going to join the workforce. In my experience, I have observed that there are two categories of students who would like to take Analytics subjects as Electives in their MBA program. The first category of students is the ones who are hardcore quants, generally having an Engineering background and would like to make a career in Analytics.
These students aspire to be Data Scientist, Data Analysts, Data Engineers and Business Analysts. The second category of students is the one who would be majoring in Marketing, Finance, Operations or HR. But they would like to take analytics electives as supplementary subjects that may help their career prospects. IMT Hyderabad has been offering a wide array of electives in analytics since 2011. There are basic foundation level electives like Machine Learning, Data Visualisation and Forecasting Analytics that is offered in the first term of Second Year.
These courses are designed to build the foundation for any students who might be interested in Analytics. These courses are not too complex and are easily comprehensible. For those of you, who might be interested in advanced level courses electives like Decision Analytics, Analytics Using SAS, AI & Deep Learning and Big Data are offered in subsequent terms. In addition, functional analytics like Marketing Analytics, Risk Analytics, HR Analytics and Supply Chain Analytics is also being offered for students.
The students are also exposed to a wide variety of software tools like SAS, R, Python, Analytic Solver, XLMiner, Tableau. Industry practitioners from companies like IBM, American Express, Franklin Templeton, Salesforce, Dr. Reddy’s frequently visit our campus to deliver guest lectures. Our students have been successfully placed in companies like IBM, Delloitte, Hexaware Technologies, Wipro, TCS, EClerx, BNY Mellon, Bridgei2i Analytics, InRhythm Analytics, Mordor Intelligence, Spotflock among others.
Industry analysts estimate that India is expected to see 1.5 lakh new job opening in data science this year, which is an increase of about 62% from the last year. A majority of these jobs would be for professionals with less than 5 years of experience. It is also predicted that 40 zetabytes of data will be in existence by 2020, careers hinging on analytics will only shoot through the roof. Shortage of skilled professionals in a world which is increasingly turning to data for decision making has also led to the huge demand for Business Analysts and Data Scientists in start-ups as well as well-established companies.
Analytics is not the future but the reality now. Those who acknowledge this fact and embrace it will be the leaders of tomorrow.
Prof. (Dr.) Surajit Ghosh Dastidar
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