Consider yourself a marketing manager on the brink of launching a product with an inventive strategy, a compelling idea, and a significant budget. Will the launch succeed? What are your customers' characteristics? Where do you invest your money, and what are your KPIs for a successful product launch? In the past, guesswork based on intuition played a major role in marketing launches. Today, the decision-making process for companies has changed due to data and business analytics.Knowing the customers and predicting the future is essential for marketing and other functions of business, but the ability to understand data is also necessary. Now data analysis is one of the pillars of success for business managers and will be a part of any well-run business of the future.
Business Analytics has been recognised as the most essential competency for the leaders and managers of tomorrow. It has become essential for people in all functions, to understand data and its implications.Business analytics is simply the collection and examination of data for business and its improvement. It covers opportunity identification and the execution of the necessary informed decisions.In essence, it helps businesses shift from guessing what might work to what is actually supported by evidence.For example, e-commerce companies can analyze the purchases made by their customers to learn which products have the highest demand and at what times and the reasons for shopping cart abandonment. From these analyses, they can design better marketing and merchandising strategies and ensure that their customers have the best shopping experience.
For MBA and PGDM students, the real value lies in understanding how these insights can solve practical business problems.
Every business decision involves some element of uncertainty. Managers need reliable information in order to decide the right way for a business to proceed in a particular situation, whether a business is going into a new market, creating a product, or even when developing its budget.Business analytics helps provide that needed certainty by looking at past and present business information and the behaviours and circumstances of the customers.Consider a retail store about to open. Before deciding to put the store in a certain location, the managers of that business will look at the competition and the location’s customers’ habits of buying things, and even what is customer's spending capacity.When MBA and PGDM students gain business analytics skills, they develop the ability to question why a business decision is made, understand what the information provided to them means, and how to make a proposal and justify it.
According to the World Economic Forum’s Future of Jobs Report 2025, about 70% of respondents identified the need to acquire and apply analytical thinking. Additionally, the same report emphasized that AI and big data are fast-growing skills that will be needed for employment by 2030.Companies know this, so they have begun to shift away from only valuing graduates that understand business concepts and theories, and have begun to look for individuals that understand business concepts, theories, and have the ability to think analytically and apply them in real-world business scenarios to help make well-informed decisions.MBA students that acquire and develop business analytics skills strengthen their business profile and become ready to pursue and fulfill careers that deal with business performance, problem solving, and strategic planning.
One of the biggest misconceptions about business analytics is that it is useful only for students pursuing careers in technology or data science.
In reality, analytics plays an important role across almost every management function.
Marketing: Marketing professionals use analytics to understand consumer preferences, evaluate advertising campaigns, measure customer engagement and improve return on marketing investment.
Finance: Financial managers use data to assess investment opportunities, analyse financial performance, identify risks and prepare forecasts.
Human Resources: HR professionals can use workforce analytics to understand employee retention, evaluate recruitment effectiveness and identify training requirements.
Operations and Supply Chain: Operations managers rely on analytics to forecast demand, optimise inventory, improve delivery schedules and reduce operational inefficiencies.
For instance, a marketing student who understands campaign performance metrics can explain not only why an advertisement attracted attention but also whether it contributed to sales.
This ability to connect numbers with business outcomes makes analytics valuable across MBA specialisations.
Management education is not just about memorising theories. It is about learning how to apply knowledge when faced with challenging business situations.
Imagine a restaurant chain experiencing declining sales despite receiving positive customer reviews. A manager with analytical skills might investigate ordering patterns, menu performance, pricing, delivery times and repeat customer behaviour.
The findings could reveal that certain products perform well during weekends but poorly on weekdays, or that delivery delays are affecting repeat orders.
Instead of making assumptions, the manager can use these insights to develop a more focused strategy.
For PGDM students, working with case studies, business simulations and data-based projects can help build this practical problem-solving mindset.
Artificial Intelligence (AI) is changing how businesses collect, process and interpret information.
AI-powered tools can analyse large datasets, identify patterns and generate forecasts much faster than traditional manual methods. Businesses are increasingly exploring these capabilities to improve productivity and decision-making.
However, technology alone cannot replace business judgement.
A tool may identify declining customer engagement, but a manager must understand the business context, question the reliability of the findings and decide what action to take.
This is why MBA and PGDM students need to develop both technological awareness and critical thinking.
Understanding business analytics helps future managers work more effectively with AI-powered systems while recognising their limitations, including inaccurate predictions, biased data and privacy concerns.
MBA students do not necessarily need to become programming experts to benefit from business analytics. A strong foundation in a few practical skills can make a meaningful difference.
1. Data Interpretation: Understanding reports, identifying patterns and drawing useful conclusions from business information.
2. Microsoft Excel: Working with spreadsheets, formulas, pivot tables and charts to analyse business performance.
3. Data Visualisation: Presenting complex information through dashboards and charts using tools such as Power BI or Tableau.
4. Basic Statistics: Understanding averages, percentages, trends, correlations and other concepts that support informed decisions.
5. SQL and Data Fundamentals: Learning how business information is organised, stored and retrieved from databases.
6. Critical Thinking and Communication: Questioning assumptions, recognising data limitations and explaining findings clearly to different stakeholders.
Students can begin with Excel and basic statistics before gradually exploring more advanced analytical tools.
Most importantly, the objective should not be learning software for its own sake. It should be understanding how to use information to address business challenges.
As organisations increasingly integrate analytics into their operations, MBA and PGDM graduates with strong analytical abilities can explore opportunities across different industries.
Some potential career paths include:
The specific qualifications and technical skills required will vary depending on the role and organisation.
For MBA graduates, combining analytical knowledge with communication, leadership and management skills can create a strong foundation for professional growth.
The good news is that students do not need an advanced technical background to begin.
Start by becoming comfortable with Excel and learning how to organise, analyse and visualise data. Explore publicly available datasets and try answering simple business questions.
For example, analyse a company's quarterly sales performance, compare marketing campaign results or study consumer spending trends.
Students can also participate in business case competitions, undertake data-focused academic projects and look for internships that involve research, reporting or performance analysis.
Online learning platforms and introductory certifications can provide additional exposure to tools such as Power BI, Tableau and SQL.
Even a small project that demonstrates how data can support a business decision can become a useful addition to a student's portfolio.
The future of management will require professionals who can balance human judgement with technological capabilities.
While leadership, creativity, communication and strategic thinking will remain essential, the ability to understand and interpret data will increasingly complement these traditional management skills.
For MBA and PGDM aspirants, this highlights the importance of choosing a management education that encourages analytical thinking, practical learning and exposure to evolving business practices.
At IES's Management College and Research Centre (IES MCRC), Mumbai, the broader goal of management education is to prepare students for the challenges of a changing business environment. Developing an analytical mindset alongside core management knowledge is an important part of preparing for modern business careers.
Business analytics is no longer a skill relevant only to technical professionals. It is becoming an important part of how organisations plan strategies, understand customers, manage resources and measure success.
For MBA and PGDM students, learning business analytics is about much more than working with numbers. It is about developing the confidence to question assumptions, understand business challenges and make decisions supported by evidence.
As industries continue to evolve with AI, automation and digital transformation, graduates who can combine management knowledge with analytical thinking will be better equipped to navigate the changing workplace.
The managers of tomorrow will not simply have access to more information. They will need to know what to do with it.
Business analytics helps MBA students develop analytical thinking, solve business problems and make informed decisions. These skills are useful across marketing, finance, HR, operations and strategy.
No, students can begin with basic statistics, Excel and data interpretation before learning advanced tools. A programming background is not necessary to understand fundamental business analytics concepts.
Microsoft Excel, Power BI, Tableau and SQL are useful tools for developing business analytics skills. Students can begin with Excel and gradually explore data visualisation and database fundamentals.
