The PGDM Business Analytics is a Two Year Full Time Program offered in collaboration with INSOFEimparts essential analytical skills which helpresearch, interpret and transform businesses based on data, no matter which management field one ispursuing – HR, Operations, Marketing, Finance or anyother. Its modules in Descriptive Analytics, PredictiveAnalysis and Social Computing develop skills thatare applicable across a spectrum of fields besidesthe in-depth focus on core management topics in thecurriculum with the latest soft ware content, realworldindustry experiences, hands on lab course,best practices and case studies all into a singleunique education program:
The PGDM Business Analytics is offered in collaboration with INSOFE – aims to help shape the emerging profession of business analytics by delivering a cutting edge inter disciplinary educational experience to graduate applicants with an aspiration of building a career in this field.
The amount of data being produced and captured is increasing at an exponential rate. International Data Corp. (IDC) forecasts that data production will increase to 40 Zettabytes (or 40 billion terabytes) by 2020, 50 times more than in 2010. This enormous amount of data can be used by business enterprises to generate new insights, enable better decision making and improve processes of organizations. Business analytics refers to the analysis of data using statistical, machine learning and quantitative techniques with the purpose of understanding past performance of the business and generating new insights for the future. According to a forecast made by IDC, the global spending on business analytics services is expected to rise from US$ 51.6 billion in 2014 to US$ 89.6 billion in 2018. Despite the growing significance of business analytics, the supply of trained analytics professionals is lagging far behind the demand for such professionals. According to the McKinsey Global Institute, by 2018, the United States alone will lack about 140,000 to 190,000 workers with deep analytical skills and another 1.5 million managers and analysts who can utilize large data sets to make better decisions.
In India, the analytics market is expected to double between 2013 and 2018, reaching a figure of US$ 2.3 billion by 2018, according to a report published by Nasscom and Blueocean Market Intelligence. There will be a shortage of about 200,000 data scientists in India over the next few years, according to sources in the Analytics Special Interest Group set up by NASSCOM. Hence, creation of trained industry-ready business analytics professionals is the need of the day.
The PGDM is a two year full time programme aimed at creating business analytics professionals employable by leading Indian and foreign firms. This programme is designed for those who have an analytical mindset, are interested in tackling challenging business problems, and possess an inclination towards mathematics. Some of the salient features of the programme include courses taught by reputed faculty members of INSOFE of from globally renowned institutes, hands-on business analytics training at a related company, continuous interaction with industry leaders.
Business Analytics: The next frontier for innovation, competition, and productivity. The PGDM (Business Analytics) program will open up exciting career opportunities in Business Analytics and related areas: Throughout the world, the demand for people with the skills and mindset for quality data analysis is still far ahead of its supply. In fact, a report by the McKinsey Global Institute claims that by 2018 the US alone is expected to have a shortfall of 140,000-190,000 people with critical analytical skills. Yet employees who have control over and the ability to analyze ever-growing sets of data are increasingly moving ahead, receiving higher pay in organizations around the globe. ANALYTICS IS THE USE OF MODERN DATA MINING, PATTERN MATCHING, data visualisation and predictive modelling tools to produce analyses and algorithms that help businesses make better decisions. According to a recent Wall Street Journal, companies, barraged with data from the Web and other sources, want employees who can both sift through the information and help solve business problems. As the use of analytics grows quickly, companies will need employees who understand the data. A May 2011 study from McKinsey & Co. found that by 2018, the U.S. will face a shortage of 1.5 million managers who can use data to shape business decisions. The amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey’s Business Technology Office. Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.
The program has been developed with a strong industry orientation and has several benefits:
- PGDM (Business Analytics) is approved by AICTE
- Only Institute in Hyderabad to offer PGDM in Business Analytics in association with INSOFE
- Certification from INSOFE on program completion
- Curriculum designed and delivered by a blend of highly qualified and experienced faculty from INSOFE, Vishwa Vishwani and other industry experts
- Experts from INSOFE will provide real world challenges for project experience and also mentor the students.
- Peer group interaction with students from other sectors/companies for cross-fertilization of ideas
Rounding off the personality traits of the students is accomplished by focused training in soft skills, corporate visits and industrybased projects.