Companies today are looking for young managers who can make sense of mountains of data. The war for managerial talent, that can handle huge volumes of data, is becoming highly competitive. The pandemic has added to this intensity by forcing organisations to go digital, generating more data to sift through, manage, and mine.
Managers capable of handling large data sets have become valuable for corporates. So, there is a gradual shift in favour of MBAs with business analytics skills from the traditional MBAs with specialisations in the domains of marketing, HR, operations or finance.
As a response to this trend, a few B-schools have recently introduced business analytics as an elective course. The Monster annual job trends 2022 report states that roles related to big data analytics would be the most in-demand with data science skill requirements at the top.
Much needed revamp
The path ahead points to a variety of roles available in large numbers for students with a flair for handling data. The recruiters are also ready with unique data analysis-oriented designations such as business analyst, customer analyst, and sales analyst, to name a few.
They are trying to attract students possessing data handling skills with salary packages well above the levels offered to an MBA with specialisation in the traditional functional areas.
B-schools, therefore, need to gear up for this new requirement from corporates. They need to offer multiple courses related to data analytics or even offer business analytics or data analytics as a separate full-scale specialisation with a bouquet of basic level courses such as digital transformation, data preparation, and programming for data sciences and then moving on to advanced courses such as predictive analytics, mobile analytics, and social media analytics just to name a few.
Industry ready
The students on their part should understand the increasing complexities of running a business. Consumer digital footprints to drive organisations of the future. This means an improved demand for talent with data management skills that can make informed decisions.
They should try and develop an interest in the data and data-related courses in addition to the traditional functional areas of business.
B-schools offering specialisations in data analytics, students developing an aptitude for acquiring data-related skills, and corporates’ willingness to hire talent with the ability to handle large amounts of data would result in a win-win situation for all the stakeholders.
(The writer is Deputy Director, Symbiosis Institute of Business Management, Pune.)