Due to the country's expanding internet user base, India's data analytics industry has expanded over the past ten years. Over 900 million more people will be accessing the internet by 2025; this number has already doubled since 2015. The data gathering that might be utilized to possibly tap into different markets has significantly increased as a result of this expansion, supporting the data analytics sector. In 2021, the market for MBA in data analytics had already grown significantly, year over year.

Because of the context of changing technology and new business concerns, companies are compelled to look for solutions that offer both better commercial returns and reduced operating expenses. In connecting their operative configuration to the market’s demand and need, corporations may possess colossal amounts of data in each sphere of investigation, improvement, advertising, trading and customer service.

Importance of Data Analytics

Data analytics is a course which uses technologies to clean, analyze, and model data. Professionals in data analysis programs are playing an important role in organizations because they are more tech-driven and fast-paced. Data analysts who gather, examine, and decipher data to inform effective decision making are being hired by startups as well as IT megacorporations in India.

Getting the valuable insights that companies generate from their huge array of data requires a grasp of data analytics. A firm can use data analysis in many ways such as targeting a specific marketing message towards a potential client and pinpointing as well as minimizing business hazards.

Inform Decisions Made by Businesses

Companies may use data analytics to make better decisions and cut down on losses. Prescriptive analytics can recommend how and why the business should respond to these developments, whereas predictive analytics may foretell possible consequences.

Streamline the Process

Organizations may benefit from using data analytics to improve operational effectiveness. Data from the supply chain can be gathered, examined, and anticipated to help spot production bottlenecks or interruptions as well as potential future issues. The company may choose to replace or supplement them if forecasting indicates that this provider won't be able to handle the amounts needed for the holiday season. Delays in production would be avoided as a result.

On the other hand, it's common for businesses, mainly those in retail, to struggle fine-tuning their stock levels. Analytic helps identify the right sources for a company’s entire product line based on elements like seasonality, holidays or cyclic trends.

Personalize the Client Experience

Companies obtain consumer data from various channels including online social networks, where people communicate through internet-, brick-and-mortar shops as well as virtual stores. The hire of data analysts from the best MBA university in India who can guide them to decode customer data and gain insight into their purchasing patterns

Take the example of a retail clothing company that has an online and physical presence. The company may integrate sales data from its social media platforms with data from its websites to evaluate both sets of information. Based on the results of this assessment, it may create focused social media campaigns to boost online sales of product categories that customers are already interested in. To enrich the customer journey, firms may apply behavioral analytic systems using the same data

Scope of Data Analytics in India

Big data analytics experts believe that India leads the industry. Because of the shift the country is going through, data is gathering all around us very quickly. In order to obtain meaningful data, most businesses now find that working with a big data professional is essential. For example, the right business objectives, resources, technology, corporate culture, and leadership commitment are all necessary before delving into business analytics. India sees massive growth potential in data analytics and this trend shows no sign of slowing

Abundant and lucrative job openings can be found in data analytics. There seems to be several opportunities in the business sectors. IT banking, law enforcement, fraud protection, healthcare, telecom, e-commerce, energy, and portfolio management sectors in India are among the areas that use data analytics. In all corporate areas, data analytics is being implemented widely.

Conclusion

The potential and application of data analytics in India are currently at their highest point. because of the enormous volumes of data that businesses generate, the tools available to extract that data, and the drive to get fresh insights from it. It also mentions that roles like data analysts are increasingly sought-after in India. One should look for the best university in India for MBA in data analytics to enjoy a lucrative career. 

An increasing number of professionals and fresh graduates find data analytics appealing due to its potential. These individuals relish manipulating figures to create helpful insights, therefore, logically speaking, they can expect a thriving future in this arena. In-depth training on the usage of data analytics technologies would be necessary before one could take full advantage of the field's potential in India. Because the course requires work to study for and achieve certification, there is always a scarcity of qualified professionals.