Areas You Can Work In With Your Mba In Data Analytics

By Author: scit
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Over the years, the role of data analytics has increased in every major industry. It helps businesses to gather invaluable insights about their product or the market, which the management can utilize for smart decision-making. It leads to profitable business moves, efficient operations, and happy customers. This necessity for data analytics embodies its need and importance.

If you wish to pursue a career in this field with such a promising scope, you must opt for an MBA in Data Analytics. It is a two-year postgraduate course that covers the functionality of big data in the corporate world. By obtaining this degree, you can work in the following areas.

1. Delivery Logistics

Data has had a significant impact on the betterment of delivery logistics. It has helped companies improve in aspects such as finding suitable shipping routes, the best delivery time, cost-efficiency, fastest delivery route, and many others. Big companies such as UPS, DHL, and FedEx, to name a few, have made use of data analytics to improve their efficiency in operations. The data generated through GPS gives these companies and many others to take advantage of data analytics and data science.

2. Customer profiling

Thanks to data analytics, companies can now profile the type of customers who buy their product. From what they shop to their payment methods, companies have access to vital information that gives them a better understanding of a customer’s buying habits and lifestyle preferences. After that, companies can use predictive analytics to forecast how customers behave while interacting with their brand. As a result, any brand can make decisions on acquiring and retaining customers while identifying high-value customers and proactively communicating with them.

3. Risk Management

Risk management forecasts and evaluates financial risks by identifying procedures that can avoid or minimize the negative impact on the company. Data Analytics helps significantly in that assessment. Let’s take the example of the insurance industry.

Data analytics gives insurance companies information on claims data, actuarial data, and risk data, obtained the customer to be insured. After statistically analyzing this data, companies get enough information to decide the appropriate insurance for the insurer.

Data analytics in risk management also detects fraudulent claims, which helps in improving the efficiency of the industry.

4. Digital Marketing

Over the years, marketing has transformed into a result-oriented process. As a result, there is more reliance on digital marketing than on traditional marketing to achieve these targets. It is because data analytics makes it easy to quantify these results and prepare reports for the same.

From Google analytics to social-media-based analytics, businesses can now measure the traffic on their website or social media pages. Through metrics such as customer interaction, customer engagement, and many others, brands can understand their positioning in comparison to their customers and re-market themselves accordingly.

These are some areas that are thriving in the current economy, and data analytics has played an essential role in their success. By pursuing an MBA in Pune in the field of data analytics, you can part of the booming phase and make an excellent career for yourself.