Top 5 Institutes For MBA in Data Analytics

by Aarti Patel | Nov 2, 2024 | Courses, Data Analytics

Whether you are a millennial or Gen Z, we all rely upon technology in this digital era. Businesses, among others, are primary users who utilize technology for several purposes like marketing, improving services, etc. Consequently, the amount of data generated is enormous. It’s needless to say, proper management of data has now become vital. A field that is a perfect amalgamation of data processing and its management is Data Analytics. This article will decode everything regarding the subject, including the top 5 institutes to pursue MBA in data analytics, job prospects, future scope, and so on.

We do have a basic understanding of what an MBA is, but when it comes to an MBA in Data Analytics, it is quite a new concept for many people. So first, let us start by understanding what Data Analytics is. Data Analytics is the subject that revolves around data. It involves processing raw data, cleaning, normalizing, and converting it to draw appropriate conclusions.

The most common tools and applications employed in data analysis are Python, Tableau, SAS, Excel, etc. Now, let’s understand the Importance of Data Analysis. By understanding and interpreting trends from data analysis, important decisions are made, especially for businesses’ future.

It aids in solving an existing problem, whether it’s operation-based (e.g., the cause of lower yield at the end of a manufacturing process) or market-centric (e.g., the reason for customer complaints). Ultimately, it helps to obtain accurate information to design future strategies to strengthen the decision-making process and foster growth, which ensures the business goals get accomplished.

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According to the U.S. Bureau of Labor Statistics, the Data Analytics field is expected to only grow in the coming days. It’s estimated that, by 2030, it will observe 22% growth and provide lucrative opportunities to anyone specialized in the field. Next, let’s understand how the intersection of an MBA with Data Analytics comes into the picture.

The concepts of data science and analysis were not unknown to us. Earlier, Computer Science graduates used to deal with these activities. Now, increased reliance on data in various industries like healthcare, finance, and so on has led to a rise in the need for personnel with expertise in the field.

The data domain is expanding rapidly, and there is a dire need for people who can not only deal with the data but also manage and draw appropriate business conclusions from it. MBA in Data Analytics is a course that covers both high-demand skills, i.e., data analysis and business in its curriculum.

You should know the most important Data Analyst Interview Questions

What is an MBA in Data Analytics?

Just like any other post-graduation degree, this is a two-year course. An individual with a graduation in business administration, computer science, analytics, or a related field can further choose to pursue their education in this program. The course comprises Business Analytics, Project Management, Financial Analysis, Data Management, Mining, etc., as the core subjects.

Employers nowadays prefer to hire candidates with specialization in the field because an MBA degree facilitates a deeper understanding of specific verticals that prepares a student to be industry-ready.

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Why an MBA in Data Analytics?

One of the many reasons to opt for the course is that both the domains, Data Analytics, and MBA have outstanding career prospects. When it comes to post-graduation, MBA is the most prominent choice not only in India but in many other countries.

Now, someone with a bachelor’s degree may be eligible for an entry-level position, however, to obtain a senior-level job role in the top MNCs, maybe in tech, commercial banking, corporate finance, or marketing firms; the primary criterion is an MBA degree.

According to a recent blog by MBAUniverse, some of the top business schools in India (IIM, XLRI, etc.) have registered excellent placements with a 10-20% growth in annual salary offered to the candidates. IT/ Analytics, Finance, Consulting, etc., are among the top sectors that hired MBAians this year.

In the 21st century, it is out of the question that you haven’t heard of the terms Data Science or Data Analytics. These are the trending professions in the tech industry at present.

Now that we have a better understanding of MBA, it is pretty easy to envision how fruitful it would be to have a concentrated degree or certification in the subject that combines both the remunerative fields.

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MBA in Data Analytics Eligibility

The eligibility criteria may vary depending on the type of institute. The basic requirements that an aspirant must entail for admission to the course are jotted below:

• An individual must have an undergraduate degree in any field, provided, the university is recognized by UGC, AICTE, or an authorized body.
• A minimum of 50% in aggregate or an equivalent CGPA is required in the graduation course to be eligible for the master’s program.
• A degree in Business or Data Analytics, Information Technology, Business Administration, or Computer Science or a decent exposure to subjects like Science, Mathematics, Statistics, Business Management, etc., would be an added advantage. Nevertheless, candidates from diverse fields can join the course.
• The last and most important one is to qualify for the entrance test. The requirement for this criterion again differs from university to university. Many institutes offer admission without any entrance examination, probably based on the merit obtained in the undergrad course. This is mostly the case with online MBAs.

MBA in Data Analytics Entrance Exams

Unlike in any certification or online course, a regular MBA involves a series of tests – aptitude, group discussions, and personal interviews. To screen candidates for admission, various national and even state-level exams are conducted. Tabulated below are some of the entrance tests that are in demand for admission into an MBA in Data Analytics course in India:

* Cut-offs mentioned here differ from institute to institute

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Top 5 Institutes for MBA in Data Analytics

1. IIM Bangalore

It is ranked as the second-best B-school in India by the National Institute Ranking Framework. The course provides a synergistic understanding of management studies along with data science. IIM Bangalore is the best option for anyone wanting to launch their career in the business analytics domain. It equips students with an in-depth knowledge of AI and analytics and makes them capable of working in leadership positions.

Entrance examination: CAT (for Indian students), GMAT (for Non-Resident Indians)

Eligibility for admission: students must qualify in CAT/ GMAT + written assessment test + personal interview

Total duration: Two years, full-time (offline)

Programme fees: 24,50,000 INR

Course Syllabus:

Students are exposed to several forms of learning methods during the course including lectures, interactive industrial sessions, group discussions, case studies, projects, dissertations, and so on.

A wide range of optional subjects is available for students to choose from based on their interests. To name a few, Digital Marketing, Brand Management, Supply Chain Management, Green Business Management, etc.

The Curriculum is Divided Into Trimesters as Given Below:

Term 1:

• Accounting for decisions in Finance
• Business Communication
• Marketing Management
• Economics
• Understanding Organizational Behavior
• Decision Sciences

Term 2:

• Finance in the Corporate World
• Digital Age Communication
• Operation Management
• Understanding Competition & Strategy Making
• Probability & Statistical Modelling
• Decision Sciences

Term 3:

• Responsible Business and Ethics
• Computation
• Forecasting Techniques
• Machine Learning
• Entrepreneurship

Term 4:

• Natural Language Processing
• AI and Deep Learning
• MVA Data Analysis
• Optimization
• Field Elective

Term 5 & 6:

• Electives

Course Highlights:

• Core subjects – mandatory in both years
• Elective subjects – initiated from the second year
• Summer internships are to be undertaken post-completion of the first year. Not mandatory for professionals who have 34 months or more experience in the industry
• Once, the 4th term is completed, students may opt for an international exchange program.
• A cohort study model with overseas students is conducted for students who continue their studies in the college during terms 5 and 6
• Students with annual family income below 6,00,000 INR. are eligible for financial aid from IIMB
• In the year 2021-23, almost 100% of placements reported
• Microsoft, Goldman Sachs, McKinsey, BCG, PwC, TCS, etc., were some top recruiters

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2. Symbiosis Institute for Management and Human Resource Development (SCMHRD)

SCMHRD, Pune, was established in 1993. Their MBA program is considered one of the highly prestigious courses in India. It is among the 5% of B-schools globally to have AACSB accreditation.

Entrance examination: SNAP Test

Eligibility for Admission:

An individual must qualify as per the following criteria to obtain admission to an MBA in Data Analytics:

• Candidate must be a graduate with a minimum 50% score or equivalent grade
• An aspirant must have two years of work experience after graduation
• A valid SNAP score + written test + technical test + group exercise + personal interview

Total Duration: Two years, full-time (offline)

Program Fees: 7,65,000 INR for Indian students and 11,50,000 INR for International students

Course Syllabus:

The two-year curriculum is divided into four semesters with a range of core and elective subjects as given below:

The elective subjects included are Advanced Machine Learning, Big Data Analytics, NLP, Financial Risk Management, Marketing Communication, Retail Marketing, Six Sigma, Cloud Services, Healthcare Analytics, etc.

Semester 1:

• Quantitative Analytical Methods
• Foundation of Analytics
• Database Technologies
• Marketing Management
• Operational Management
• HRM
• Business Communication
• Economics
• Financial Management
• Spreadsheet Modelling
• Overview of Research Methodologies
• Disaster Management

Semester 2:

• Big Data and Data Mining
• Machine Learning
• Macroeconomics
• Supply Chain Management
• Digital Marketing
• Social Media Analytics
• Sales and Marketing Analytics
• Project Management

Semester 3:

• Internet of Things
• Risk Analytics
• Financial Analytics
• Consumer Behavior Analysis
• HR Analytics
• Forecasting in Business
• Research Publication

Semester 4:

• Digital Transformation
• Strategic Management
• Ethics in Business

Course Highlights:

• Summer internship, a credit course, and the project incorporated in semesters 3 and 4
• Guest lectures are organized to equip students with insights from the corporate world
• Outbound exercises, group activities, and chill sessions are carried out to ensure students get well-acquainted
• Each student takes up at least one foreign language, thereby enabling them to take one step ahead to become world-class leaders

3. Symbiosis Center for Information Technology (SCIT)

SCIT is a UGC-approved deemed university based in Pune. It provides a full-time MBA in Data Analytics program with an internship in the second year. It claims to prepare the students to be job-ready by providing hands-on exposure to various tools.

Entrance examination: SNAP Test

Eligibility for admission:

An individual must comply with all the following criteria to obtain admission:

• Candidate must be a graduate with a minimum 50% score or equivalent grade
• An aspirant must have studied Mathematics subject in the class 12th
• A valid SNAP score + writing ability test + group exercise + personal interview

Total duration: Two years, full-time (offline)

Programme fees: 13,86,000 INR

Course Syllabus: Core subjects are mandatory + 3 elective subjects are to be chosen by the student as per their interest, in each semester.

Semester 1:

• Financial Management Basics
• Data Mining
• Business Statistics
• Data Management
• Mathematics
• Operation Research and Optimization
• Management Practices
• Research Methodologies
• Disaster Management

Electives

• Cloud Computing
• Data Mining
• Machine Learning
• Text Analytics

Semester 2:

• Data Organization
• Statistics for Decision-Making
• Data Modelling & Visualization
• Marketing Management
• Financial Analysis
• Managerial Economics
• Predictive Analysis
• Strategic Management

Electives

• Artificial Intelligence
• Deep Learning
• Big Data Analytics
• Natural Language Processing
• Marketing Analytics
• Software Analytics

Semester 3:

• Data Privacy and Protection
• Design Thinking
• Entrepreneurship
• HRM
• Research Publication

Electives

• Computer-Human Interaction
• Insurance Analytics
• Fraud Analysis
• Social Media Analytics
• Supply Chain Analytics

Semester 4:

• Corporate Ethics
• Standards of Sustainability

Electives

• Cyber Security
• Healthcare Analytics
• HR Analytics
• Internet of Things
• Customer Analytics
• Energy Analytics

Course Highlights:

• Summer internship and a credit course incorporated in the third semester
• Capstone project and defense a critical part of the last and final semester
• Each student learns at least one foreign language, thereby enabling them to take one step ahead to become world-class leaders
• Exemplary placement records with placements in the top recruiting firms like Gartner, American Express, VMware, Infosys, Exponentia, etc.

4. K J Somaiya Institute of Management

AACSB, AICTE, and NBA accredited global institute which is the first private university in Vidayvihar, Mumbai.

Entrance examination: CAT/ XAT/ CMAT/ NMAT/ GMAT

Eligibility for admission:

The individual gets admission based on a valid score in the entrance test + Case-based analysis + Personal interview. Past academic records, achievements, and work experience are also taken into consideration, during the process.

Total duration: Two years, full-time (offline)

Programme fees: 19,94,900 INR

Course Syllabus: The curriculum includes a blend of case studies, practicals, workshops, and hackathons to provide students with real-world business case exposure. Following are some important modules:

• Python and “R”
• AI and Machine Learning
• Big Data Analytics
• Financial Analytics
• Deep Learning
• Tech 4.0 (AI in Business)
• Cloud Computing
• Data Visualization: Tableau
• Block Chain Technology
• Data Mining and Business Intelligence
• Marketing Analytics
• Social Media Analytics
• Digital Transformation

Course Highlights:

• Summer internship and project introduced in the second year of the course
• A student falling in one of the following categories may be eligible to avail of financial aid:

Family income <8,00,000 per annum

Child of defense personnel deceased/ disabled during the duty

Having physical disability

Represented state or nation in sports activities

• Around 98% of students were placed in reputed industries with the maximum package being 22.50 LPA in the past year
• More than 75 companies hired students for summer internships in the current year, i.e., 2022-24, with the highest annual stipend of 1,08,000 INR

5. IIM Calcutta

IIM Calcutta is recognized by the Indian government as, the Institute of National Importance. It is one of the prestigious institutes holding rank 3 in the NIRF ranking system and 76th position globally.

The course provided is more practical in comparison to a classical MBA course. The postgraduate course is jointly offered by, IIT Kharagpur and Indian Statistical Institute, Kolkata.

Entrance examination: CAT

Eligibility for admission: Students must qualify in CAT + Computer-based assessment test + personal interview

Total duration: Two years, full-time (offline)

Programme fees: 25,00,000 INR

Course Syllabus:

A pre-semester module is conducted initially at IIM Calcutta on behavioral, managerial, and communication subjects.

Optional modules included are Algorithm Design, Cloud Computing, Product Analytics, Supply Chain Analytics, Healthcare Analytics, Business Model Analysis, Financial Risk Management, and so on.

The course is divided into four semesters, incorporating the following core subjects:

Semester 1: at ISI

• Statistical Analysis and Inference
• Database Fundamentals
• Computing in Data Science

Semester 2: at IIT Kharagpur

• Algorithm Design
• Machine Learning
• Regression
• Operational Analytics
• Data Science
• Electives

Semester 3: at IIM Calcutta

• Data Mining
• Business Economics
• Strategic Management
• Project Management
• HRM
• Electives

Semester 4: Internship

Course Highlights:

• The student spends an entire semester at each of the three premium institutes
• Well-experienced faculty members from three renowned institutes
• Electives introduced from semester two
• Industrial internship in the final semester
• Placements are taken care of jointly by all three institutes
• In 2022, students were placed on the very first day of the placement session with an average annual package of 28 LPA

MBA in Data Analytics – Modes of Study

There are several options for anyone wishing to upskill and grow their knowledge in the field without compromising on other priorities. Based on the amount of time you can devote; the following are the modes of courses available for an MBA:

Full-time MBA: This program is suitable for students who can devote full-time to the course. It is considered ideal if you want to learn the concepts in-depth. This also involves an internship and project work probably during the last semester of the two-year course. A one-year accelerated course also exists, which is more suitable for someone with professional experience in analytics, business, or related fields.

Part-time MBA: It is similar to the regular MBA in terms of the curriculum but is more flexible because it allows you to continue your work and pursue the course part-time. Again, this involves a self-paced learning system and a cohort/ in-group system.

Online MBA: Just like a part-time course, it does not necessitate a person to take time off while working. This is the most flexible option which facilitates you to join the lectures from the comfort of your home. Also, this may be the more cost-effective mode of learning as compared to an on-campus mode.

Executive MBA in Data Analytics (EMBA): An EMBA is specifically designed for experienced professionals to enhance their knowledge and help them advance in their careers. Classes are scheduled as per institutional practices, commonly during the evening or on weekends.

Different institutes may use the terms part-time, online, distance learning, and executive courses synonymously. Below are some Institutes providing Executive MBA/ PGD in Data Analytics:

• ISB, Hyderabad – Advanced Management Programme: 18 months duration for professionals with 5+ years of experience.
• Loyola Institute of Business Administration, Chennai: 12 months duration for fresh graduates as well as working professionals (preferable).
• Integrated Programme in Business Analytics by IIM, Indore: 10 months duration, for working professionals with a valid JET score.

Now that we have all the details about the course. Let us look at the future scope, job, and salary prospects after completing the course.

MBA in Data Analytics Salary and Job Prospects

By now, we have understood that the course has huge demand in the market and opens up a plethora of opportunities for someone with specialization. Based on the level of experience and expertise, a candidate may choose to work in the field of their interest. Some of the important sectors where candidates with a post-graduation in the field would be preferred are

•  Consulting Firms
• Data Management Services
• Business Intelligence Units
• Information Management Services
• Banks and Healthcare Units
• Software Firms
• Analytical Units
• Insurance Companies, etc.

Graduates are well-trained with real-world exposure during the program that enables them to adapt to job roles in various sectors including Data Architect, Big Data Engineer, Data Modeler, Market Research Analyst, Healthcare Data Analyst, Financial Analyst, and Advisor, Operation Research Analyst, Risk Analyst, Machine Learning Engineer, Business Analytics Specialist, Management Consultant, Statistician, and top-level roles in business, among other roles.

Although, the salary is variable depending on the firm, given below are average figures for some of the job roles in India, according to Glassdoor:

• Market Research Analyst – 4.54 LPA
• Financial Analyst – 5.45 LPA
• Risk Analyst – 6.00 LPA
• Big Data Engineer – 7.43 LPA
• Business Analyst – 8.00 LPA
• Machine Learning Engineer – 9.00 LPA
• Data Scientist – 10 to 12 LPA
• Management Consultant – 22.6 LPA

You would have heard of many of the fancy job titles mentioned above. But to decide whether to invest in the course or not, it is very important to understand what exactly are the roles of these functions. So, let’s look into the job descriptions or responsibilities of some of the most popular ones:

• Market Research Analyst:

As the name suggests, the professionals in the said field collect the data from several sources and perform detailed research and analysis on the data to make a forecast about the future based on market trends. They assist in making effective business decisions like where the business resources are worth utilizing.

• Financial Analyst:

The professionals in this field have a very crucial role to play as they are involved in performing financial assessments, audits, budgeting, cost control, etc. They analyze capital expenditures, investment opportunities, and profit strategies and also guide the planning of future investments based on the firm’s data evaluation.

• Risk Analyst:

The risk analyst is a kind of expert role who is responsible for the evaluation of potential clients, finance documents, etc. to help understand the risk level and potential consequence of the risk that is associated with carrying out a certain business activity.

• Big Data Engineers:

These professionals are skilled in dealing with a huge number of datasets. They ensure that data is percolated very efficiently and rapidly to the downstream users so that multiple users may work with it, all while ensuring the scalability and security of data are maintained.

• Machine Learning Engineer:

Engineers with a greater understanding of Artificial Intelligence are best suited for this role. It involves building self-running AI-based software systems to automate processes and resolve problems by applying complex algorithms to generate accurate predictions. Some well-known examples of such kinds of systems are chatbots, virtual assistants, driverless cars, etc.

• Business Analyst:

The prominent roles include analysis of data to derive logical conclusions, contributing to budget and forecasting to ensure resources are used within stipulated limits, and deriving solutions with innovative ideas for making strategic decisions and implementing them.

• Data Scientist:

This function deals with raw data collection and building predictive models to make interpretations and draw valuable insights from them. In simple terms, data scientists are someone who provides value to the data. With their expertise, they find patterns in data so as to provide solutions needed by an organization.

• Management Consultant:

This role demands experience and skills in the field as consultants play the role of an usher in various areas – providing client solutions, strategy development, introducing new technologies, and improving performance, all so that business growth is accelerated. A person aspiring to be a consultant must possess skillsets which is an admixture of both, technical and soft skills.

Future Scope of MBA in Data Analytics

Plenty of courses and options are available after completing an MBA to develop greater expertise in the field. Below are some of the options to choose from if you are passionate about a specific subject. You can even choose to join a Research and Development firm which will not only help sharpen your analytical skills but also provide exposure to intriguing challenges and projects to work on.

• Ph.D. in Management – highest level degree in management science
• Project Management Professional – popular industry-recognized certification course
• Research in Data Analytics
• Chartered Financial Analyst
• SAP Certification, etc.

Frequently Asked Questions

1.    What is the duration of the course?

The total duration of a full-time post-graduate course is two years.

2.    What are the companies that recruit candidates after completing the course?

Pursuing a course from a reputed institute will help you land a job in some of the top MNCs. Deloitte, Wipro Technologies, HCL, Cognizant, Pay Pal, Mahindra Satyam, Infosys, Dell, IBM, Genpact, Amazon, KPMG, TCS, etc. are among the top recruiting firms.

3.    What skills are essential to pursue the MBA in Data Analytics?

The program does enhance the capabilities of the students and helps them gain expertise in the field. At the same time, an individual with skills in certain areas would be a great fit to grow into the business and data analyst career. Here is the list of skill sets one should work on:

• Problem-solving skill
• Outstanding communication and collaboration skills
• Leadership qualities
• Client/ Customer relationship management
• Strategic thinking
• Time management
• Computer skills
• Decision-making, etc.

4.    Is the Data Analytics course worth it?

Yes. This is a 21st-century course, which means it is one of the most high-demand postgraduate degrees in today’s age. Not only it promise excellent career prospects but also unwinds numerous branches where you can work. The course itself is designed in a way that makes a student ready to tackle real-world problems.

Conclusion

By now, you would agree that, unlike traditional courses, MBA in Data Analytics complies with the requirements of the ever-changing needs of industries. Because of this, a person with specialization and skills will have a promising career. The course also enables an individual to accelerate their professional growth while continuing to work.

It is currently one of the most lucrative fields providing limitless opportunities to work in various job functions. There hasn’t been a time in the past when learning and career advancement were so simple. Today every piece of information is just a click away. You can now decide how you would like to take advantage of technology for your own good, for your own future.