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Analytical

Overview, Education, Careers Types, Skills, Career Path, Resources

Analytical careers involve critical thinking and data interpretation to solve complex problems and improve decision-making processes.

Average Salary

₹6,00,000

Growth

high

Satisfaction

medium

Educational Requirements

Education Requirements for a Career in Analytics

A career in analytics typically requires a strong foundation in quantitative and analytical skills. Here's a breakdown of the educational requirements:

  • Bachelor's Degree: A bachelor's degree is generally the minimum requirement. Common fields of study include:

    • Mathematics
    • Statistics
    • Computer Science
    • Economics
    • Engineering
  • Essential Skills:

    • Statistical Analysis: Understanding statistical methods and techniques.
    • Data Mining: Ability to extract useful information from large datasets.
    • Programming: Proficiency in languages like Python, R, or SQL.
    • Data Visualization: Creating meaningful visualizations using tools like Tableau or Power BI.
    • Communication: Ability to explain complex findings to non-technical stakeholders.
  • Advanced Degrees (Optional but Recommended): A master's degree can significantly enhance career prospects.

    • Master's in Analytics: A specialized degree focusing on analytical techniques and tools.
    • MBA with a concentration in Analytics: Combines business acumen with analytical skills.
    • Master's in Data Science: A more technical degree focusing on data manipulation and machine learning.
  • Certifications:

    • Certified Analytics Professional (CAP): Demonstrates expertise in analytics.
    • Google Data Analytics Professional Certificate: Provides practical skills in data analysis.
  • Key Considerations:

    • Strong Analytical Skills: A knack for problem-solving and critical thinking.
    • Continuous Learning: The field of analytics is constantly evolving, so continuous learning is essential.
    • Internships: Gaining practical experience through internships is highly beneficial.
Study Path
Top Colleges

Top Colleges in India for Analytics Courses

Choosing the right college is crucial for a successful career in analytics. Here are some of the top colleges in India offering excellent analytics programs:

  • Indian Institutes of Management (IIMs):

    • IIM Bangalore: Offers a specialized MBA in Business Analytics, known for its rigorous curriculum and strong industry connections.
    • IIM Calcutta: Provides a Post Graduate Diploma in Business Analytics (PGDBA) jointly with IIT Kharagpur and ISI Kolkata.
    • IIM Lucknow: Offers a Post Graduate Programme in Business Analytics (PGP-BA).
  • Indian Institutes of Technology (IITs):

    • IIT Kharagpur: Jointly offers the PGDBA program with IIM Calcutta and ISI Kolkata.
    • IIT Madras: Offers a Master of Science (M.S.) in Data Science.
    • IIT Delhi: Provides various courses and research opportunities in data analytics.
  • Other Top Universities:

    • Indian Statistical Institute (ISI), Kolkata: Renowned for its statistics and data science programs, offering courses like M.Stat and M.Tech in Computer Science.
    • Delhi University (DU): Offers undergraduate and postgraduate programs in statistics and related fields.
    • University of Mumbai: Provides courses in statistics, data science, and analytics.
    • Narsee Monjee Institute of Management Studies (NMIMS), Mumbai: Offers an MBA in Business Analytics.
    • Symbiosis Institute of Computer Studies and Research (SICSR), Pune: Provides specialized programs in data science and analytics.
  • Factors to Consider When Choosing a College:

    • Course Curriculum: Ensure the curriculum covers relevant topics and tools.
    • Faculty Expertise: Look for experienced faculty with industry connections.
    • Infrastructure: Check for well-equipped labs and resources.
    • Placement Record: Review the college's placement statistics and alumni network.
    • Industry Collaborations: Colleges with strong industry partnerships offer better exposure and opportunities.
  • Admission Criteria:

    • Most top colleges require strong academic records and performance in entrance exams like CAT, GMAT, or GRE.
    • Some colleges may also conduct interviews and group discussions as part of the selection process.
Fees

Fee Structure for Analytics Courses in India

The cost of pursuing a career in analytics can vary widely depending on the type of institution, course level, and specialization. Here's a general overview of the fee structures:

  • Undergraduate Courses:

    • Government Colleges: INR 10,000 to INR 50,000 per year. These are typically more affordable due to government subsidies.
    • Private Colleges: INR 50,000 to INR 2,00,000 per year. Fees can be higher depending on the college's reputation and infrastructure.
  • Master's Courses:

    • Government Universities: INR 20,000 to INR 80,000 per year. Similar to undergraduate courses, government institutions offer lower fees.
    • Private Universities: INR 1,00,000 to INR 5,00,000 per year. Top-tier private universities and business schools can have higher fees.
    • IIMs (Indian Institutes of Management): INR 10,00,000 to INR 25,00,000 for the entire program. IIMs offer specialized analytics programs with high placement rates.
  • Online Courses and Certifications:

    • Coursera, Udemy, edX: INR 5,000 to INR 50,000 per course or certification. These platforms offer a wide range of analytics courses at varying price points.
    • Professional Certifications (e.g., CAP, Google Data Analytics): INR 10,000 to INR 30,000 for exam fees and study materials.
  • Factors Influencing Fees:

    • Accreditation: Courses from accredited institutions tend to be more expensive.
    • Faculty: Experienced and renowned faculty can drive up fees.
    • Infrastructure: Colleges with state-of-the-art facilities may charge higher fees.
    • Placement Record: Institutions with strong placement records often have higher fees.
  • Additional Costs:

    • Accommodation: Hostel fees can range from INR 50,000 to INR 1,50,000 per year.
    • Study Materials: Textbooks and online resources can cost between INR 5,000 and INR 20,000 per year.
    • Exam Fees: Certification exams can cost between INR 5,000 and INR 30,000 per attempt.

Exams for a Career in Analytics

To excel in a career in analytics, focusing on relevant exams and certifications can significantly boost your prospects. Here's a breakdown:

  • Entrance Exams for Master's Programs:

    • GRE (Graduate Record Examinations): Many top universities in India and abroad require GRE scores for admission to master's programs in analytics, data science, and related fields. Focus on the quantitative reasoning section.
    • GMAT (Graduate Management Admission Test): If you're considering an MBA with a concentration in analytics, the GMAT is a common requirement. It assesses analytical, verbal, and quantitative skills.
  • Professional Certifications:

    • Certified Analytics Professional (CAP): Offered by INFORMS, this certification validates your expertise in the analytics field. It requires a combination of education and experience.
    • Google Data Analytics Professional Certificate: Available on Coursera, this certificate provides practical skills in data analysis and is recognized by many employers.
    • Microsoft Certified: Data Analyst Associate: This certification validates your skills in using Power BI to analyze data and create visualizations.
    • SAS Certifications: SAS offers various certifications, such as SAS Certified Statistical Business Analyst, which can enhance your credibility in the industry.
  • University-Specific Entrance Exams:

    • Some Indian universities may conduct their own entrance exams for master's programs in analytics or data science. Check the specific requirements of the universities you're interested in.
  • Exam Preparation Tips:

    • Understand the Syllabus: Familiarize yourself with the exam syllabus and topics.
    • Practice Regularly: Solve sample questions and mock tests to improve your speed and accuracy.
    • Seek Guidance: Consider joining coaching classes or online courses for structured preparation.
    • Stay Updated: Keep abreast of current trends and developments in the field of analytics.
Exam NameExam Date
Pros And Cons

Pros

  1. High demand for skilled analysts in various industries.
  2. Competitive salaries and benefits packages.
  3. Opportunity to solve complex problems and make data-driven decisions.
  4. Continuous learning and professional development opportunities.
  5. Potential for career advancement into leadership roles.
  6. Work across diverse sectors like finance, healthcare, and technology.
  7. Make a tangible impact on business strategy and outcomes.
  8. Intellectual stimulation through challenging analytical tasks.
  9. Use of cutting-edge technologies and tools.
  10. Collaboration with cross-functional teams.

Cons

  1. Can be stressful due to tight deadlines and high expectations.
  2. Requires continuous learning to keep up with new technologies.
  3. Data quality issues can hinder analysis and decision-making.
  4. Ethical considerations regarding data privacy and security.
  5. Potential for data overload and analysis paralysis.
  6. May require long hours to meet project requirements.
  7. Communication of complex findings can be challenging.
  8. Dependence on data availability and accuracy.
  9. Risk of misinterpreting data and drawing incorrect conclusions.
  10. Competition for top analytical positions can be fierce.