In today’s modern business setting, Data analytics has become essential as industries are increasingly influenced by artificial intelligence (AI) and digital technologies. From finance to healthcare, all industries depend on data-driven insights to guide strategic decisions and gain a competitive edge. As the digital revolution continues to reshape the way we work and interact, the demand for professionals skilled in big data analytics is increasing. India’s data analytics industry has witnessed remarkable growth in recent years, supported by the country’s growing internet user base. According to projections, by 2025, India will have over 900 million internet users, double the number from 2015. This growth of digital data presents a wealth of opportunities for businesses to leverage big data analytics across various sectors, including education. Big Data analytics in education refers to the collection, processing, and interpretation of large datasets within educational ecosystems, which range from student demographics to academic performance records and more.
Mr. Anil Somani, the Chairman of FOSTIIMA Business School in Delhi, offers valuable insights into this endeavor by expressing the following, “In this hyper-connected world, big data analytics holds the key to unlocking numerous insights that can transform the way we approach education. Business schools play an important role in preparing the next generation of leaders who can utilize the revolutionary possibilities of the industry while improving operational efficiency. By incorporating data analytics into the curriculum, institutions are equipping students with the necessary skills to analyze vast datasets and derive actionable insights. From predictive modeling to data visualization, students are gaining hands-on experience with cutting-edge analytical tools and techniques that will help them in diverse career opportunities in the data-driven landscape.”
Insights from Mr. Somani on how data analytics empowers business schools to connect education with industry for future success:
Giving the Exposure to Real World
One of the most significant advantages of integrating big data analytics into management programs is its ability to bridge the gap between academic theory and real-world industry applications. By collaborating with businesses and industry experts, business schools can ensure that their curriculum remains relevant and up-to-date with the latest trends and technologies. This real-world exposure allows students to gain practical experience and insights that are invaluable in today’s competitive job market. Additionally, it promotes innovation and creativity within organizations. By encouraging a data-driven mindset, businesses can uncover new opportunities and solutions that may have otherwise gone unnoticed.
Preparing Students for Success in a Data-Driven World
The benefits of incorporating Big Data Analytics into business school curricula extend far beyond the classroom. It fosters critical thinking, problem-solving, and collaboration skills, which are essential in today’s dynamic business environment. Students learn how to ask the right questions, challenge assumptions, and derive meaningful conclusions from data, that empower them to become data-driven decision-makers. Graduates equipped with these skills are in high demand across industries, as organizations are increasingly depending on data-driven insights to gain a competitive advantage. Whether it is in marketing, finance, operations, or human resources, professionals with expertise in big data analytics are well-positioned to drive innovation and business growth.
The Future of Data Analytics in the Workplace
Data analytics in education is rapidly expanding, with a compound annual growth rate (CAGR) of 15.3%. This exponential growth ladder sets the sector to achieve a spectacular valuation of USD 57.14 billion by 2030. Beyond traditional job roles, the expansion of data-driven technology is resulting in new professional opportunities, such as data visualization specialists, machine learning engineers, and predictive modelers. As businesses increasingly adopt data-driven decision-making, the demand for people who can translate complex data into valuable information will continue to rise.
Integrating big data analytics into MBA and PGDM programs has the potential to transform learning experiences and prepare students for success in the digital age. Educational institutions must capitalize on this opportunity by using data-driven insights to define the future of learning and empower the next generation of leaders and innovators. By investing in education and training programs that educate students with the required skills in big data analytics, business schools can ensure that talent is always available to meet the industry’s changing expectations.
The incorporation of big data analytics into MBA and PGDM programs improves academic learning while also providing students with practical skills and insights needed to grow in today’s data-driven corporate world. By embracing this transformative change, educational institutions can help to shape the future of business education and prepare students to be effective leaders and innovators in a quickly changing digital world.
