An Overview of Big Data Analytics

An Overview of Big Data Analytics

One of the most trending courses in the technical field is Data Science. Data Science is considered to be a multi-disciplinary course that involves the use of scientific processes, methods, systems, and algorithms to extract insights from structured and unstructured data. One of the advanced courses that Data Science comprises of is Big Data Analytics.

What is Big Data Analytics?

The concept of Data Science involves combining of data analysis, statistics, and Machine Learning, which in turn helps in understanding the actual analytical process with the help of such data. In other words, the course of Big Data is based on data mining that can be used as a technique for solving analytical problems. Pursuing your M.Sc. degree in Data Analytics will be highly beneficial as the demand for analytics professionals is constantly increasing. To take admission in the M.Sc programme, though an undergraduate background in the same field isn’t required, you need to have proficiency in mathematics, economics, and statistics.

Importance of Big Data Analytics

Big Data Analytics is leading the IT frontier as it helps in improving business and contributes to making better decisions. In addition to this, Big Data will also help in –

  • Bringing new income opportunities
  • Better marketing
  • Improved customer service
  • Enhanced operational efficiency

Pursuing a master degree course in Big Data will also enable to get insight knowledge of the following aspects –

  • Business Statistics and Statistical Modelling
  • Data Warehousing
  • Econometrics using SAS
  • Financial Risk Analytics
  • Analyse Social Networks Data
  • Retail Analytics
  • Web Analytics
  • HR Analytics

Adding to these, you will also have case studies on –

  • Telecom Analytics (churn, spend)
  • Marketing baskets, churns, and customer value of Retail Analytics
  • Customer segmentation, fraud, and profiling of Insurance Analytics
  • Drug effectiveness of Clinical Trial
  • Appraisal and attritions of HR Analytics

Reasons for Pursuing an M.Sc. Degree in Data Analytics

1. Gain proficiency in Data Management

One of the biggest reasons for pursuing a master degree in Big Data is gaining more knowledge about Big Data technologies. This, in turn, will help you increase your proficiency in terms of data management.

2. Increasing Demand for Professionals

As mentioned before, the demand for Big Data professionals is increasing at a rapid speed. As per reports, it is estimated that in the next few years, the market size of analytics will grow to at least one-third of the global IT market from the current rate of one-tenth. This gives an edge to the professionals looking for jobs in Data Science, and having a master’s degree in this field will only benefit you.

3. Big Data is a Preferred Choice

As per a recent survey conducted, it has been concluded that top multinational organizations opt for Big Data Analytics. This is because data analytics helps in improving the performance and productivity of the organization. Almost 45% organizations believe that Big Data Analytics helps in giving precise insights to the business.

4. Better Salary

Another reason that makes Big Data courses beneficial is the salary that you draw. Since the demand for analytics professionals is more, organisations are quite lenient about the salary compensation of the candidate. For professionals with an M.Sc. degree in Data Analytics, the compensation will be higher than the ones with an undergraduate degree.

5. More Credibility

Pursuing an advanced course like Big Data will earn you more credibility as the technique is being used everywhere. You will find an effective use of this technique in sales, manufacturing, banking, and healthcare industries as well. This will help you choose an industry of your wish and have a successful career.

As mentioned before, Big Data is one of the most preferred choices for students, professionals, and organisations. With educational institutes offering an extensive course on Data Science, Big Data aspirants can rest assured of making a successful career in this field.

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