A two-year-long post-graduate program, MBA in data science is currently at the hype and much in demand among global enthusiasts. The course curriculum allows a deeper understanding of the critical technical infrastructure data.
It also equips students with the skills required to interpret the data set, its meaning, research several data sources, process data, and create data models. Keeping in mind the potential of this stream, an array of domains and industries have set numerous job vacancies.
Thus, pursuing this course will definitely help you grab better-paying opportunities in the future.
MBA in Data Science: An Overview
In simple words, Data science provides meaningful data and information based on a more significant amount of complex data or big data. It also combines various work fields in statistics and computation for interpreting data for decision-making purposes.
By pursuing an MBA in data science, you would be able to upgrade to the combination of programming skills, expertise in domains, and more profound knowledge in statistics and mathematics to extract meaningful data insights.
Those practising this profession are termed data scientists; thus, you can be sure of becoming one as well. By combining a broader range of skills, you will get to learn the tricks to analyze the collected data from smartphones, the web, sensors, customers, and other resources.
Some of the important subjects included in the curriculum include financial accounting, business economics, group, individual behaviour, marketing management, quantitative analysis, etc.
This way, once you have completed your MBA in data science, you can easily become one of the vital assets for plenty of businesses and industries. However, some of the primary tools that you would need to complete this course are:
- Data robot
- Alteryx Inc
Students interested in pursuing an MBA in data science must have a bachelor’s degree or equivalent discipline with a minimum aggregate of 50% from any of the recognized universities from across the globe. Students who belong to SC, ST, and OBC categories can get an extra relief of 5% in the eligibility criteria.
The Admission Process
If you have a bachelor’s degree in any stream, including Arts, Commerce, and Science, with an aggregate of 50% marks or above, then you can apply for this course from any prominent college/ institute.
You can avail admission either via merit list or the cut of scores in any competitive examination. Here is a sequential description of the admission process:
- Apply for the course: You can apply for this course either online or offline. You will have to submit all the relevant documents necessary to take the admission process further.
- Selection Criteria: As you get selected based on the entrance exam or merit, you will then have to appear for a group discussion, followed by a personal interview. Once selected, you can then get your admission card.
Popular Entrance Exams for MBA in Data Science –
Nationwide, several colleges and institutes conduct the entrance examination. Many of these exams are also driven by the state or central government. Here is a list of some standard entrance exams in India for an MBA in Data Science:
In terms of the eligibility criteria for the MBA entrance exam, it majorly depends upon the conducting body. However, here are a few things that you must keep a note of:
- The exam patterns involve a variety of major sections, such as mathematics, language comprehension, critical reasoning, data analysis, Indian and global environment.
- Exam mode can be either online or offline, and the duration ranges between 3 hours to 3 hours 30 minutes.
- According to the institute or university, there might be some changes in the syllabus, examination mode, or the question pattern.
Top Indian Colleges for MBA in Data Science –
If you are looking for some of the prominent and preferred colleges for MBA in data science, here are the best options according to NIRF rankings:
- IIM Bangalore – Ranking 1, Fee – 21.15 lakhs INR
- IIM Calcutta – Ranking 3, Fee – 24 Lakhs INR
- MDI Gurgaon – Ranking 11
- LBSIM New Delhi – Ranking 24, Fee – 11.67 Lakhs INR
- Institute of Management and Entrepreneurship Development, Pune – Ranking 46, Fee – 4.50 lakhs INR
Curriculum and Subjects
As mentioned above, this course is a two-year-long one where you would have to be familiar with Computer Programming and Mathematics along with other common subjects that are required, such as:
- Financial Accounting
- Business Administration
- Data Visualization
- Data Mining
- Business Management
- Data Science
Why choose this course?
In India, this course mainly focuses on computer science, engineering technical, and mathematics. In some universities or institutes, it might also involve certain technicalities of big data.
The course also involves data tools that allow a business to reach specific results with the help of data processing.
- Crucial details that you must know:
A typical program integrates technical data interpretation with strategic management and planning. A data science MBA degree is required for the students to know extensive data analysis, analysis of decision making, problem-solving for several sectors like retail, telecom, E-Commerce, etc.
The program also helps students concentrate and transform their capacity for better business decisions. This specialization prepares individuals for public finance, risk management, consulting management, strategic planning, and much more.
- What are the roles of a data Scientist?
Here is a list of all the roles that a graduate of MBA in data science does:
- Data Analytics
- Machine learning
- Collection and interpretation of data
Why is an MBA in Data Science essential for a better career?
Here are some reasons why an MBA in data science is preferred for a better career:
- It offers a broader range of career options and job opportunities for graduates
- Candidates get an array of disciplines to work in for a higher salary in prominent organizations and companies.
- It helps individuals get skilled in decision-making.
Preparation Tips for MBA in Data Science–
Here are some tips to get started with the preparation for all the candidates:
- The candidate must always keep the examination syllabus handy. One must start the preparation by making a list of all the strengths and weaknesses and must rigorously work on them for better results. A candidate must also have a better understanding of the examination pattern and test structure.
- A student can also start by making a month-wise preparation plan. Aspirants can check the syllabus of the examination and then make a routine or a timetable to complete the entire syllabus.
- The candidates are also required to polish critical thinking and creative knowledge for more profound innovative ideas.
Scope and Salary
MBA in Data Science is a fantastic choice for students wanting to have a fruitful and better career. The competing students can also get a job opportunity as a data analyst, a data scientist for any company.
It further involves technicalities and tools for data processing and interpretation. Aspirants can also continue their higher education in the field by going for Ph. D. in the desired area.
Moreover, graduates in MBA data science can have an average starting salary of approximately 7 lakhs per annum to 8 lakhs per annum. As they gain more knowledge and experience, their pay package also increases.
Career Options After Completing MBA in Data Science
Once completed, this course has the capability of making a candidate digitally stronger and skilled in data updating, processing, and analysis. After the completion of the course, candidates get job opportunities as follows:
- Data Analyst – The job of a data analyst is to collect, process and perform statistical analysis on a larger dataset.
- Risk Analyst – Candidates getting this job will have to examine a company’s investment portfolios or the organization as a whole, including overseas investments. He/she must also analyze all the risks involved in associated decisions. The candidates must use the analytical skills to save from the losses and make recommendations to limit risks through currency exchanges, diversification, and other investment strategies.
- Business Analyst – A business analyst’s job is to analyze the business, possess the domain, and process all the business models for a smoother functioning with the business model and integration.
- Data Trainer – There is an initial dataset known as the training data that is helpful and usable for a program to understand the application of technologies, like neural networks for learning and producing satisfactory results. Training data is also termed as a training set, learning set, or training dataset.
Apart from the ones mentioned above, there are additional options that can be pursued according to the interest. They are as follow:
- Information Management Services
- Software Industry
- Research Industry
- Consultancy Companies
When it comes to assessing the top-notch companies that are always on the hunt for experienced, skilled data scientists, here is a list of the globally popular and top recruiting companies:
- HCL Technologies
This brings us to the end of the blog on MBA in Data Science. If you wish to upskill in this domain, you can take up the Jain University MBA degree in Data Science or Digital Marketing and earn an MBA Degree from one of India’s Top Universities to build a rewarding career. Learn from the top management faculty with live interactive sessions and become industry-ready. Register today!
You can also enroll with Great Learning’s Executive PG Program in Management and gain the required managerial skills to build a rewarding career.1