A brand-new professional degree that is becoming a career option is the MBA in Data Science. However, a degree is in demand because of the increased generation of Data. You can pursue an MBA in Data Science if you want to have a flourishing career in the field.
In the beginning, there were more employment opportunities in the technical area of data science, including for data scientists, engineers, architects, and analysts. However, because the industry is expanding, there is a need for professionals with better management skills; management skills are necessary to boost an organization’s department’s efficiency.
MBA in Data Science ( Everything You Need to Know)
Analytical and managerial skills are ingrained in individuals pursuing an MBA in data science.
The majority of people depend heavily on data, which is the main reason why the majority of modern online businesses are data-driven. However, simply having a technical understanding of data science is insufficient for expanding a business. You must understand how to turn your data science expertise into income. Because of this, a data science professional needs to have an MBA in order to maximize their skill.
Since data science requires a lot of technical knowledge, MBA graduates must also possess this knowledge to be as productive as possible. Experts have proposed combining these two skills to ensure that a data scientist is familiar with managerial and business analytical skills.
Best Online Colleges Offering an MBA with a Data Science Specialization
|Manipal Online University||MBA in Analytics and Data Science|
|Mizoram University||MBA in Big Data Analytics|
|Amity University Online||MBA in Data Science|
|Shiv Nadar University (SNU)||MBA in Data Science & Analytics|
|Jain Online University||MBA in Business Intelligence & Analytics|
MBA in Data Science (Best Online Universities)
The following are two highly regarded business schools in India that offer this course offline:
|Symbiosis Centre for Information Technology (SCIT)||MBA in Data Science and Data Analytics|
|KJ Somaiya Institute of Management||MBA in Data Science and Analytics MBA-DSA|
Costs, Qualification, and Duration
An elite programme like an MBA is quite pricey all over the world. The dynamics have changed since online education was introduced in our nation, making it a little easier for those unable to pursue an MBA because of the prohibitive costs associated with taking this course.
This is due to the fact that universities are now providing affordable online MBA degrees in a variety of specialisations.
MBA with a Data Science Specialization is a two-year professional degree programme.
In India, the approximate total cost of an online MBA in data science is 2 lacs.
However, this is only an estimate; the actual cost of an MBA in Data Science will vary depending on the facilities available, the course offerings, and the school’s standing.
The total cost of the programme at various universities is listed below.
|MBA Data Science Online Colleges||MBA with Data Science Specialization||Fees (Approx)|
|Jain Online University||MBA in Business Intelligence & Analytics||₹2,14,000/- (National)$4,200/- (International)|
|Amity University Online||MBA in Data Science||₹3,00,000/- (semester-wise payment)₹2,80,000/- (one-time Payment)|
|Mizoram University||MBA in Big Data Analytics||₹60,000/-|
|Shiv Nadar University (SNU)||MBA in Data Science & Analytics||₹3,89,000/-|
|Manipal Online University||MBA in Analytics and Data Science||₹1,60,000/-|
The programme is designed in such a way that anyone can enrol in it; no prior technical training is required. This makes eligibility for the programme simple. To ensure that no learner misses any of the components, the course covers both the fundamentals and advanced study of both skills.
In order to qualify for the programme, you must:
The applicant must hold an undergraduate degree (of at least three years) in any field from a university accredited by the UGC.
The applicant must have passed the 10+2+3 qualifying exams with a minimum grade point average of 50% or higher.
Candidates who are enrolled in their last semester of undergrad are eligible.
At the time of selection, candidates with an academic background in computer science or information technology or who are employed as IT professionals are given preference over other candidates. This is due to the fact that an online MBA in Data Science differs from a general MBA in that it is a technical degree that is challenging to complete.
The following is a list of the MBA Data Analytics course’s semester-by-semester course breakdown:
|Semester I||Semester II|
|Accounting for Managers||Applied Operations Research|
|Applied Statistics for Decision Making||Data Cleaning, Normalization and Data Mining|
|Financial Analysis and Reporting||Econometrics|
|Macroeconomics in the Global Economy||Foundation course in Business Analytics|
|Organizational Behaviour||Project Management|
|Research Methodology||Spreadsheet Modelling|
|Semester III||Semester IV|
|Applied Business Analytics||Ethical and Legal Aspects of Analytics|
|Foundation Course in Descriptive Analysis||Healthcare Analytics|
|Foundation Course on Predictive Analysis||HR Analytics|
|SAP FICO||Project Work|
|SAP HCM||R Programming|
|Stochastic Modelling||Social and Web Analytics|
Growing demand for MBAs in data science in recent years
The use of data has been quite common in our world for a very long time, so none of the professions related to it have just recently emerged. However, the need for managerial skills among data professionals has led to the development of the MBA in Data Science, raising the question of why these professionals need managerial skills.
By examining the functions of management and data science, we can provide an answer to this query. Getting things done by people effectively and efficiently—that is, in the least amount of time and for the least amount of money—is management’s job. Thus, if we combine both of these roles, it would be simple for the data scientist to interpret the data which can result in financial gains. Additionally, the role of data professionals is to provide an organization with the pertinent data helpful to gain some profits.
Job Role (MBA in Data Science)
Let’s now examine the financial rewards and job opportunities available to professionals with a data scientist.
|Job Role after MBA In Data Science||Base Salary (Approx)|
|Chief Technology Officer||₹25,97,196/-|
|Market Research Analyst||₹3,80,058/-|
The compensation listed above represents the typical wage given to professionals performing the aforementioned roles. The company that hires professionals also offers them other advantages.
Another factor that affects pay is experience; an individual with more experience in their field will receive greater benefits than a newcomer.
Job opportunities and wages in India
Because data is a never-ending resource, there is a lot of opportunity for MBAs in data science. Some of the profiles that are available to them include product manager, CTO, and market research analyst, and the average salary for these positions is respectable. Since India is a developing nation, there is a constant flow of data throughout the nation, necessitating the employment of data professionals.
FAQs Regarding the Data Science MBA Program
Q: Exists a data science MBA program?
A: Yes, these degree programs are offered by a number of colleges.
Q: Does it pay to get an MBA in data science?
A: -The MBA in Data Science is worthwhile because the return on investment for the tuition costs is quite impressive and because there will still be a demand for this profession in the near future.
Q: Which institution offers the best MBA in data science?
A: It is quite challenging to respond because it entirely depends on the student’s preferences. Some of the top colleges and universities are listed above; you can check them out.
Q: Can employees enroll in an online data science MBA program?
A: Yes, students can pursue an online MBA in data science.
Q: Does knowing how to code make me eligible for a data science MBA?
A: Although knowing how to code is not required to pursue an MBA in data science, you will stand out from the competition if you do.
Q: For admission to an MBA in data science, is there an entrance exam?
A: You must take an entrance exam to be admitted to a regular MBA in the data science program.
Q: What qualifies someone to pursue an MBA in data analytics?
A: The applicant must hold an undergraduate degree (of at least three years) in any field from a UGC-recognized institution with a minimum cumulative grade point average of 50%.