Analytics is a “hot” thing today and you’ll see a lot of enthusiasm in professionals contemplating a switch to Analytics. Is this excitement around analytics a fad? Should you be even thinking of a career in business analytics? It’s an important question to answer. Only then, you would be committed and follow the right path.
Here are 3 reasons for why career in business analytics is hot-
High growth area with huge demand
Massive amount of data is generated across industries. In recent years, it is being collected from business transaction, social interaction, mobile usage and government. As data is increasing exponentially, industry needs professional to analyze it to make important business decisions. McKinsey Global Institute’s Big data: The next frontier for innovation, competition, and productivity estimates that by 2018, “the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis to make effective decisions.”This is good news for professionals eyeing jobs in business analytics.
As a professional, you would like to be in an area with more demand than supply. That always translates into better growth opportunities.
Relevant across sectors
Analytics is not for specific sectors but across verticals and functions such as Retail, Banking, Pharma, Manufacturing, FMCG, Government verticals as well as marketing, finance, consulting, operations functions. Business analytics works on top of your domain knowledge. This presents an opportunity for experienced professionals to make the transition since they can leverage their existing domain skills. Various companies are also training their employee on analytics related areas so they can fulfil the demand internally.
For lesser experience professionals, it also provides an opportunity to switch industries, if they have to build some experience in analytics.
Interesting as it is close to business decisions
Finally, business analytics is interesting! What makes your job interesting is your ability to see the final impact of your work quickly. Most important output for analytics professionals is to help their companies make business decision. This gets them very close to business. A lot of professionals in knowledge world can be far from business. Think about engineers working in IT, Telecom, Electronics, Manufacturing where the interactions with final business decision makers are not frequent.
Needless to say, when you are close to business decision makers, your own career growth options are better.
If you find these reasons exciting, you can start working on the plan of “how to move”. It will require some commitment and efforts but hopefully, it’s worth it.