Until 2018 the world needs 1.5 million mba holders with business analysis skills – mckinsey. The message is clear. Your mba is incomplete unless you put some business analysis into it. In less than a month. Mckinsey has announced global positions for mba graduates (marketing and finance). Who understand the science of decision making. In other words, the company was looking for professionals . Who understand analytical tools and are familiar with the concepts of data science. In other words, business analysis professionals. A business analyst typically uses it to observe trends, manage a summary of reports, and ensure that data is presented in a personal, meaningful way so that it can be used by the organization’s business and IT departments.
MBA holders must be technical enough to speak the language of data science, and must know how to use data to solve business problems and achieve results. Role a a business analyst involves researching and extracting valuable information from data sources to explain the results of a business (present and future). A business analyst also determines the right approach to business improvement. Business analysts have experience in the field but have limited statistical skills. This gap is filled by data scientists who are advanced statisticians. The data scientist develops and implements algorithms using statistical . Programming that supports the business analyst’s plans. Data scientist automates data analyst plans and models to help businesses improve performance and productivity.
Especially in finance and marketing, need access to basic analysis and statistics. This can range from advanced excel knowledge to skills related to tools such as r and spss. Visualization overview tools such as tableau will be a great help. The traditional job description of a business analyst has focused more on the use of a system or set of systems to obtain data and present business. Today, they have the opportunity to move to the tech side by learning the skills needed to develop advancedalgorithms and understand and model.