Frequently Asked Questions: Career in Analytics for MBA

1. What is Analytics?

Analytics involves collecting, discovering and interpreting relationships from data in a way that helps to predicts unknown outcomes and automates decisions.

2. Who is a Business Analyst 

The job of a business analyst is centered around identifying the business implications of data and actions that result from them. They help in guiding businesses to improve processes, products, services, and software through data analysis. They help the firm to answer questions such as: Which project should we invest in or prioritize? They focus on improving efficiency within the practices of various departments.

3. Who is a business intelligence Analyst? 

Business intelligence analysts collect data from different sources ranging from using software to mine company's data, competitors' data and industry trends to help develop valuable business insights that drive business value. They utilize data analytics, data visualization, and data modeling techniques and technologies to facilitate decisions towards modernizing and improving processes in the organization. They focus on the overall output from the company and compare that progress to other similar companies within the industry. 

4.  Who is a Data Analyst? 

Data analysts are responsible for the thorough inspection of data in order to reveal patterns and other useful information, that informs conclusions and supports business decisions. They use several techniques and approaches which include data science, data mining, data modeling, and big data analytics. 

5. Who is a Data Scientist?  

The job of the data scientist involves using statistics, mathematics and machine learning methods to design data modeling processes, create algorithms and predictive models in order to extract meaning from and interpret data. Data science is a more technical form of data analytics and involves more complex tools and procedures.

6. As an MBA student interested in a career in analytics, do I need to have a major or specialize in Business Analytics?

Not necessary. While it may be a plus to learn analytics in class, it is not a requirement for getting a job in analytics. One needs to know the tools they need for a particular job and how to use them in data analyses to help maximize value for firms. Fortunately, there are several resources out of the traditional classrooms that teach software skills and their application in data analysis. 

7. How do I develop my skills if I am considering a career in analytics?

Know what kind of analyst you aspire to become. In doing so, factor in your interests, experiences and assess yourself accordingly.  Subsequently, find out what software skills you require for the field and assess your skills gap. Focus on the slack and gradually build upon that. There are several resources to help you build your analytics skills. Platforms such as Kaggle also gives you the opportunity to practice data analysis. Lastly, stay up to date and learn continuously as both the methods of analyses and the problems analysts face tend to be dynamic. 

8. What are the most popular tools used by analysts?

According to a survey of analysts on LinkedIn, amongst the most popular tools used by analysts are; Excel, SQL, Tableau, R, SAP ERP, SPSS, Python, SAS, Oracle, Peoplesoft, and Visual Basic Application. But in the end, the tool one ends up using daily depends on the firm they work for and their role in the firm.

More Resources to help MBA students interested in a career in analytics.

Books 

• 7 Data Analytics Books You Should Read 

Websites 

• Career in Analytics for MBA 
• Data Science Blogs And Websites For Data Scientists
• Websites and Blogs for Data Analyst