Business analytics is an amalgamation of data analytics, computer programming, and business intelligence that helps analyze data for drawing meaningful conclusions and finding patterns to help make better decisions. These days business analytics has found its place in almost every industry because of the impact it is capable of having on any business. Data-based companies treat the collected data as an asset for the business and work to devise methods for transforming data for their competitive advantage. With the growing usage of business analytics, the demand for business analytics certification has increased largely as professionals involved in different industries look for opportunities to upscale themselves with the latest information and trends. So, let’s dive deeper into this article to learn more about business analytics, the processes involved in it, business analytics certification, people who can benefit from the certification, career options, and salary range.
Processes Involved in Business Analytics
There are a basic set of processes that take place in business analytics. Let’s learn briefly about each one of them:
- Defining Business Problem: This is the first and most important business analytics process. Before starting the analysis, it is essential to understand the primary goal of the business and define the business problem. This aids in understanding what the business is trying to achieve and laying a foundation for the rest of the processes.
- Defining Analytics Problem: This step involves redefining the business problems in alignment with analytics. In this step, a set of factors and its relationship to the final outcome is proposed. Furthermore, a metric of success of the business model is defined.
- Appropriate Methodology Selection and Model Development: Upon working upon the data, the next process involves deciding the data analysis method that will be used. Multiple models are made and compared based on the metrics decided.
- Deployment: Finally the proposed model is validated to confirm if the model is offering accurate predictions. Upon the validation of the model, the model is deployed on the company’s system and every new incoming data is analyzed. Also, it needs to be ensured that the deployed model is constantly supervised for accuracy.
What is Business Analytics Certification?
A Business Analytics certification enables business leaders and managers to understand how analytics can aid decision-making. With the help of this certification, individuals learn to analyze data and draw meaningful insights, enhance the ability to make long-term predictions and determine future actions that can further help in making improved decisions and make the business grow.
Why opt for a Business Analytics Certification?
In the present era, data is the key. Organizations these days are using considerable resources to gather the latest data relevant to their business and make the best use of it. Companies rely hugely on data to draw meaningful conclusions, add meaningful value to the available data and use it for predictions and future trends. Given the growing demand for data, the importance of business analytics has been growing hugely.
For a business to grow exponentially, it’s important that the professionals involved are skilled and equipped with the latest knowledge of the market and growing trends. Because of this reason, professionals must take up the business analytics certification. By taking this certification, professionals can keep themselves updated with the latest business trends, learn the latest approaches to analyzing data, and offer high-end services to customers. Furthermore, the certification adds value to your resume and helps organizations recognize your skills.
Reasons why it is a good idea to pursue a business analytics certification are:
- You will be able to have an in-depth understanding of business values and implement them in business. You will learn how to translate business values into quantifiable numbers and use data for the benefit of the company.
- Next, you will gain the ability to make better decisions based on the numbers, with the help of analytics and save time and effort of the company to make smarter moves based on the predictions made.
- Furthermore, you will be able to identify trends by analyzing the visual data and get excellent hold of charts and graphs.
- You get to learn how to work in the benefit of the company and work towards its growth.
Who Should Opt for a Business Analytics Certification?
The business analytics certification is ideal for anyone willing to make the best use of the available data and derive useful insights that can have a positive impact on the business. Broadly, the certification is best suited for:
- C-suite Executives seeking to keep a pace with the latest trends, utilize business analytics as a strategic benefit and make more data-driven decisions.
- Mid to senior-level managers seeking knowledge on analytics and enhance performance within their domain while positively impacting the business and accelerate their career.
- Analysts willing to understand the business applications of analytics, equip themselves with skills to analyze business-relevant data, draw insights and flourish in their careers.
- Consultants willing to offer improved insights to clients based on the latest business analytics ideas and learn well-defined problem-solving approaches through analytics.
Career options and Salary Range with Business Analytics Certification
On average, a professional with a business analytics certification earns a yearly salary of $71,100 as per Payscale.com. The salary of a business analyst depends broadly on the years of work experience and expertise in the field.
As per the experience in the industry, the average salary of business analysts is detailed below:
|Years of Experience (Years)||Average Salary|
|< 1 year||$61,000|
With a business analytics certification, you can earn an average salary as explained below:
|Sector||Average Salary (USD)|
|Business or Data Analytics||$82,433|
|Marketing or Sales||$89,50|
Job Role-wise Average Salary
Given below are some of the popular job roles that you can take up upon completion of the business analytics certification and earn an average salary as described below.
|Job Role||Average Salary (USD)|
|Business Analyst Manager||$93,284|
|IT Project Coordinator||$87,579|
|IT Business Analyst||$94,881|
|Chief Information Manager||$99,296|
|Business Intelligence Analyst||$80,867|
At the end of this article, we hope that you must be well aware of the basics of business analytics, the processes involved in it, why a business analytics certification is important and how having this certification makes a difference to your knowledge, your overall pay and the growth of the company.