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Why An MBA Is Not Enough - Data Science and Business Analysis skills becoming Mandatory

Already an MBA or an MBA in 2020? Limited immediate upward mobility for young MBA grads. Data Science and Analytics, however, can enhance your MBA !

MBA is not enough, Data Science is essential
Sekhar Subramoney
Sekhar Subramoney  

March 02, 2020

An MBA is a great qualification to reach middle management and the upper most levels of the corporate ladder; but its real usefulness usually kicks in late in life, in most cases after the age of 50, coz that’s the age at which most of us are deemed to have the level of maturity to make critical decisions to take multi-core companies forward. But studying after the age of 40 is difficult, the student mode in one declines considerably by then, therefore most upwardly mobile young people do their MBA quite soon after UG or PG.
Recent MBA’s, this message is for you :
  • There is a way now to make your MBA much more useful quite early in life !

BIG DATA

But allow me to first introduce you to the concept of Big Data. It’s a simple concept – data has been lying in servers from the first time that a computer was used by an organisation. Most organisations, large, medium or small, have some kind of digital ERP  system that has given the company the necessary efficiency to become successful – and each year the amount of data has grown exponentially – over the years most companies have invested in bigger capacity storage in their servers. It’s only in the last 10 years or so that some sharp minded top executives discerned the usefulness of the mountains of stored data – they realised that this data can be used in new ways! They found that it can be used to predict outcomes or reused differently to facilitate better outcomes.

So, here’s a million $ question : how many organisations do you know that DO NOT use computers? Can’t recall even one? Imagine the amount of data awaiting new use in almost every organisation in the world – of course the progressive companies are already employing Data Analytics! The use of this large amounts of data in new ways, for new outcomes, using new sets of algorithms, sometimes combining this with new technologies such as AI, IoT, BOTs, etc, is referred to as Big Data or Data Analytics. But wait a minute, it’s NOT ONLY the reuse of data from 10, 20 or 30 years back, even new businesses based on digitization as a core function have no option but to use Big Data Analytics almost from day 1 as their core business strategy.

Data Science Workplace
Guys, Industry 4.0 is well upon us. If you are a recent MBA your knowledge of the fourth industrial revolution is greater than ours. But know that Industry 4.0 and Big Data Analytics are the flip sides of the same coin! Nay, Industry 4.0 cannot progress without the complementary service of Data Analytics. India is poised to be the hub for Data Science and Analytics hereafter. With more than 8 lakh vacancies (as per NASSCOM forecast), India is the second-biggest market for Data Analytics jobs after the US, & I have no doubt that the numbers will more than double in the near future. Tech heavyweights are constantly looking to hire MBAs skilled in Data Analytics. MBA Graduates, are you listening?

India is set on becoming a 5 trillion-dollar economy, the demand for MBA Graduates with Data Analytical Skills is the need of the hour. MBA recruiters in the country want Analytics skills in new MBA hires. The message?? Data Analytics as a co-skill is a must for MBA students and graduates to build a secure career with quick upward mobility in this highly competitive digital era. While it is laudable to do the MBA, is not enough if you don’t complement the MBA with a liberal dose of Data Analytics – and that comes with a good course in Data Science from a reputable institute.

How will Data Science Enhance my MBA Degree ?

As stated, the value of an MBA kicks in later in life. However, if you join the Big Data team of any organisation, with an MBA, you would be among a select few to hold qualifications in both MBA and Data Science, remember that the latter is still a relatively new skill. MBA grads are usually considered first for Management positions; very quickly you will become Business Analysts Business Intelligence analyst, Senior Data Scientist. And in time it is not inconceivable that you would become an Executive Board member as the Data Analyst has among the widest range of knowledge in any company; over the years it is the Data Analyst who’s unlocked the many new potentials, did the algorithms for the best decision making, predicted outcomes that shielded the company from the uncertainties of economic fluctuations, and helped shape the strategies for the company to be where it is – it is but natural for such an allrounder to be considered for jobs in the upper management of the corporate ladder! Data Science is not just a temporary phenomenon like a fashionable garment, it’s the present & the future of company & organisational success for decades to come. It will become the core function of all sectors, whether private enterprise or government, for years to come. A career in this field is quite exciting and challenging as well. You get a chance to help decision making of a business and to plot its path to achieve its goals; with key roles in top management with critical decision-making powers. Such roles are much in high demand but short in supply with competent talent. The salary hikes are great, as are most IT jobs, and opportunities to grow fast are even greater. An MBA fortifies business acumen in one, if it’s complemented with Data Analytics, you are going to be insanely valuable to an organization.

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