Are you a student or a fresh graduate searching for IIM SKILLS Data Analytics Course Review? If yes, you have found the appropriate article that can help you gain the necessary information about the data analytics course offered at IIM SKILLS. This article will shed light on the course curriculum and benefits of becoming a student of a reputed training institute. This content also includes the basics of data analytics to refresh your memory. With no further waiting, start reading to make a better career decision.
Overview of Data Analytics
Data Analytics is the usage of tools and technologies to identify trends and patterns in the chosen data to help a company make better decisions to promote its growth. The employment of data analytics allows organizations to introduce new projects to thrive in the industry while surpassing their competitors. Individuals who perform data analysis are called data analysts or scientists. Many other professionals also carry out data analytics in companies as a part of business improvement strategies. Different kinds of data analytics are commonly employed in organizations and they are.
Data Analytics Process
Data analysis is a process that involves a few steps.
- The first step is to determine data requirements to group data for future steps. The criterion can be anything as per requirements of the company like demographics, age, gender, or income. The commonly taken data can be numerical or classified by category.
- The second step is related to collecting data. You can utilize various sources like online sources, environmental sources, cameras, or computers for the same.
- The third step in data analysis is organization of data after collection. The purpose of organizing data is to analyze it to find trends and patterns. Most data analysts use software like spreadsheets that can process statistical data.
- The final step is data cleaning before analysis. The organized data is checked and scrubbed to make sure it is free from errors and duplications and that it is complete. This step is usually carried out to identify and rectify errors before it is handed over to a data analyst for data analysis.
Professional Courses from IIM SKILLS
- Data Analytics Course
- Investment Banking Course
- Financial Modeling Course
- Digital Marketing Course
- SEO Course
- Technical Writing Course
- GST Course
- Content Writing Course
- Business Accounting And Taxation Course
- CAT Coaching
Types of Data Analytics
As discussed above, data analytics is the involvement of various tools and technologies to help a business improve its performance. There are different kinds of data analytics depending on the purpose of the process and its uses.
- Descriptive analytics: The word “descriptive” gives hints about the type of data analytics. It is a form of analytics in which situations that have happened over some time are described. It will help the analysts understand the change in particular departments. For example, an increase in sales can be identified by comparing the results with records.
- Diagnostic analytics: Just like medical diagnosis, the analysis that focuses on finding reasons to understand why certain events happened is called diagnostic analysis. Professionals who perform this kind of analytics, consider diverse data inputs and hypothesizing. For example, they try to find out the impact of weather on sales. They also try to get answers to questions like “Did changes in marketing campaigns affect sales?”
- Predictive analytics: This is a kind of analytics used to predict future outcomes such as ‘Where will the company stand after two years?
- Prescriptive analytics: It is a type of analytics that is used to generate a course of action for future progress. It involves making changes to the chosen strategy to improve the performance of the business.
Tools Used in Data Analytics
You need to know the list of commonly used tools in data analytics before reading the IIM SKILLS Data Analytics Course Review. This is suggested for you because it will help you understand the value of the course based on the training given on using the important tools for data analytics.
R programming: R is a programming language and a tool used to perform analytics. It is employed by analysts like you for data modeling and statistics. It will help you to present data in various ways by its manipulation feature. Many individuals consider it a superior tool to SAS as it has advanced characteristics in many aspects such as performance, outcome, and data capacity. It is used to run on different platforms such as Windows, macOS, and UNIX. It has around 12,000 packages and allows users to find their desired packages by category. The best part about R is its facility to provide tools that can install packages as per the requirements of the user.
Excel: Almost every employee is aware of Excel. It is because of its popularity, common use, and its usability. You need to know Excel and the statement doesn’t change even if you are a pro using Tableau, R, or Sas. Excel is important to carry out data analytics as per the requirements of the client. Its advanced business analytics option makes it the most appealing software for data analysts. Users prefer Excel to other kinds of tools because of its prebuilt options such as time grouping, DAX measures creation, and automatic relationship detection.
Tableau: Data visualization is a part of data analytics. If the data analyst is unable to present their findings in an understanding manner, it can take a toll on his job and business profits. This is why most employers suggest their data analysts use Tableau. It promotes the presentation of facts, opinions, and recommendations in an easy way for the audience. Any individual from a non-technical background can see the visual elements presented to them without having to worry about misinterpreting when they are created using Tableau. The creation of pie charts, bar graphs, and other visually appealing structures is possible with the use of Tableau in an organization.
Power BI: This is a kind of scalable and unified platform for enterprise business intelligence and self-service. It allows the users to connect any kind of data for visualization purposes. Power BI promotes end-to-end data protection through which datasets and dashboards are protected. This feature of the tool helps in securing the data if it is shared outside the entity or is in different formats such as PowerPoint, Excel, and PDF. Integration of Microsoft 365, Azure, and Power BI assists in extracting maximum value from data and technology. Users utilize Power BI to tell stories through data visualizations and charts. It is also used to examine “what if ” scenarios within the chosen data. Data analysts can create reports using Power BI that can be used to answer certain questions related to organizations.
Alteryx: Alteryx is a platform that helps data analysts use data more easily. This tool makes testing, cleansing, accessing, analyzing, outputting, and combining data much easier than Power Query, SQL, Excel, or similar tools. The usage of Alteryx allows teams to develop data processes more efficiently, repeatedly, less risky, and less error-prone manner. The data process can be from a department where the selected data needs consolidation, manipulation, analysis, or testing. Some of the examples across departments include accounting, audit, finance, tax, HR, SalesOps, Marketing, IT, and Procurement/sales chain.
SQL: The full form of SQL is structured query language. It is a language used for processing and storing information in a database. The chosen database is usually a relational database that is used by data analysts to store data in tabular format with columns and rows to represent relationships between data values and different data attributes. SQL statements are used to update, store, search, retrieve, and remove data from the database. This language is also employed by organizations for the maintenance and optimization of database performance. The main reason for data developers and analysts prefer SQL is its feature to be integrated with other programming languages.
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The Reasons to Implement Data Analytics in an Organization
It is important to know why companies prefer employees to perform data analytics for their growth. Make sure you learn about the benefits of data analytics before you join the relevant courses to make a better career decision.
Personalized Customer Experience:
Businesses do not collect data from a single source; they access all possible sources to obtain required information including e-commerce, social media, and physical retail. Data analytics assists businesses in gaining insights into customer behavior to offer a better-personalised experience through the creation of comprehensive customer profiles from the collected data. Behavioral analytics models are the commonly created models based on customer data for the optimization of customer experience.
Most enterprises use data analytics as a guiding light that can help them make better decisions and reduce the risk of financial losses. This is why predictive analytics is chosen to forecast the future depending on the changes in the operations and portfolio of the business. On the other hand, prescriptive analytics allows enterprise owners to respond to changes in the business.
For example, a business can experiment with new product offerings and pricing to note their impact on customer choices. Testing the response can help validate the hypotheses generated by such models. The data analysts can compare the sales numbers before and after the changes to identify the success rate and predict the outcomes to assist the decision-makers in improving the business growth strategies.
Believe it or not, data analytics are most preferred by organizations because of their ability to improve the efficiency of operations. Collection and analysis of data related to the supply chain can show the data analysts the origination points of bottlenecks and production delays. In simple words, it helps the analyst predict points of concern for the future. For example, if the data professional uses a demand forecast and identifies that a vendor won’t be available for the next period, they can arrange for a replacement or temporarily fill the place.
Not only that, many businesses have reported facing difficulty in optimizing inventory levels. The usage of data analytics can fix their problem as it can show the optimal supply of products as per the considered factors including holidays, secular trends, and seasonality.
Risk Mitigation and Handling Setbacks:
Running a business is no easy job. There are a lot of risks involved in managing different departments in a business. Employee theft, customer theft, employee safety, legal liability, and uncollected receivables are some of the business risks. A business owner keen to mitigate risks by taking preventive measures must consider data analytics. Data analytics points at the potential risks allowing the analysts to make appropriate recommendations to the management.
For example, a propensity model employed by a retail chain can predict events in the future for the determination of stores that have the highest risk of theft. The analyst who is aware of this information can determine the level of security required for the stores.
That is not all, a business that has experienced losses can use data analytics to prevent financial losses in the future. A business that has overestimated the demand for a specific product can make use of data analytics to set an optimal price for clearance sales to get rid of extra inventory. Another less-discussed benefit of using data analytics is that an analyst can create statistical models that can produce automatic recommendations to resolve existing problems.
It is a fact that almost all the businesses in the market receive data security threats. Organizations can implement data analytics to find out the roots of data breaches in the past by visualizing and processing relevant data. For instance, an IT department can employ data analytics applications to process, parse, and visualize audit logs for the determination of the origins and courses of an attack. The information obtained can be helpful to the IT department in locating and patching vulnerabilities.
Statistical models are also used by analysts dealing with the relevant elements of an IT department to identify potential attacks and prevent them. The usual attacks are load-based assaults like distribution denial-of-service (DDoS) attacks that exhibit abnormal access behaviour. Organizations that set up these kinds of models and integrate them with alerting and monitoring systems can detect and highlight anomalies to let security professionals take necessary actions immediately.
About IIM SKILLS
Directly jumping into reading the IIM SKILLS Data Analytics Course Review is not the ideal way to understand the reputation and quality of services offered by the institute. This is why let us look briefly at IIM SKILLS.
It is an ed-tech company started by Vaibhav Kakkar in the year 2015. The institute’s headquarters are in New Delhi. It has a presence in over 23 cities in the world including Singapore and Dubai. It currently offers courses in marketing, analytics, writing, and finance domains. IIM SKILLS was founded after an educational blog managed by Vaibhav Kakkar hit over 1 million views for its informative content on career guidance. The Content Writing Master Course was the first training program on the digital platform. New courses were introduced after the initial program became a success.
The mission of the educational entity is to let every learner access high-quality training at an affordable price. It aims to provide training programs to students through its digital presence. It has made a range of self-paced learning courses available for aspiring individuals. The company is always excited to launch upskilling programs as per the market requirements and allow all learners to reach their goals. Most of the courses offered at IIM SKILLS are crash courses that save time for people who cannot attend a full-time program due to their personal and professional commitments.
It has a good track record of educating students on various concepts and training them on different sets of skills. The mentors at IIM SKILLS have a history of transferring their knowledge to learners for more than a decade. Over 35000 students have been trained by the instructors at IIM SKILLS. The ed-tech company has conducted over 9500 training sessions so far. The courses that were introduced after the content writing master course are the digital marketing master course, technical writing master course, GST practitioner certification course, advanced SEO course, business accounting & taxation course, financial modelling master course, tally master course, certified investment banking course, and data analytics master course.
Being a student of IIM SKILLS will allow you to enjoy benefits such as certifications, a customer delight approach, virtual interactive classrooms, and lifetime access to study material. These are the main reasons for many famous media channels to feature IIM SKILLS on their news. Entrepreneurs, Financial Express, The Daily Guardian, Business today, Forbes, and The Times of India have shared posts on success stories of IIM SKILLS and about its most fruitful programs.
IIM SKILLS Data Analytics Course Review
The data analytics course available at IIM SKILLS is named the data analytics master course. Many students who have availed of this 6 months program shared that they gained a range of skills and knowledge related to data analytics from the 160-hour lectures. It is a comprehensive course that includes a range of relevant topics and many important tasks for the learners allowing them to grasp as much information and skill training within a short period.
The inclusion of practical assignments paves the way for the students to receive feedback from qualified mentors on their performance and improve themselves. As the program is tools-based, it is easier for aspiring data analysts to find a job. We have discussed a list of tools at the beginning of the article and you will be trained on using all of them. The interest-free EMI option reduces the financial stress of the learner that comes from one-time payment rules. IIM SKILLS includes more than 7 live projects in the course that allow the individuals to get exposed to real-life scenarios in data-related fields.
Not only that, case studies and assured internships make the course one of the top data analytics courses in India. Separate sessions conducted to prepare students to face interviews and create impressive resumes have proven to help individuals secure a job in reputed companies. Not to forget the shareable master certification that draws career opportunities to flow toward the learners.
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Conclusion on IIM SKILLS Data Analytics Review
Data Analytics is a method that helps many businesses grow and offer great customer experience. The same reason has created employment opportunities for individuals with knowledge and skills in data analytics. This is why many people are looking for courses that can change their career fate and fulfil their dreams. Most students consider it one of the best training institutes in India. I.e., IIM SKILLS for data analytics program instead of other certification courses. Reading the IIM SKILLS Data Analytics Course Review gives clarity on the chosen career path, which is shared above.
Q. Is the IIM SKILLS data analytics course tools-based?
Yes. It is. You will acquire the skill to work with a range of essential data analytics tools if you join the course at IIM SKILLS. Python, R, SQL, Alteryx, Tableau, Power BI, Excel, and VBA are the tools covered in the 6-month program.
Q. Should I have to attend data analytics classes on weekdays if I join IIM SKILLS?
No. All the live classes are conducted on Saturday and Sunday to allow busy learners like you to upskill themselves.
Q. How many months should I spend to complete the IIM SKILLS’s data analytics master course?
The duration of the course is 6 months. Classes will be arranged on weekends allowing you to focus on grasping concepts on Saturday and Sunday and testing improving your skill set and knowledge on weekdays through practical assignments.