This has also opened up a whole new career area. Data analytics and decision making based on data analytics has become an integral part of marketing.
Companies now collect and analyse the data about who, where, when & how their (or their competitors) products and services are used and change their products, services, marketing strategy and ads to increase their sales or reduce expenditure.
- The internet has started many career avenues that were previously not available. For example, the twitterati. Now you could tweet witty stuff and get followers and then sell advertise through you tweets. There are many such jobs that were not previously available. But what if you don’t have the artistic design on your personality and not a whiff or wittiness.
- What if you’re the logical type; or maybe you only want to go down the beaten down path? An MBA maybe. Well programming is an option. But that was an option before; we are talking about a new career.Data analytics career would be one.A Data analyst is someone who takes lots of data about a place /person /population /phenomenon and deduces certain properties or future actions about that place /person /population /phenomenon. When the intelligence agencies have “analyst” that’s what they mean. Data analysts were also there for business, but earlier the profession didn’t have many members.
- The reason was that there could not be much collection of data. A lot of data is needed to deduce a problem with customers. Like the data about the problems you software faces – you must’ve seen Windows asking for you permission to transmit the data. That’s data collection by Microsoft. But how would a soap & detergent company collect data?
- The internet has helped with it. With the facebook, twitter and Instagram of this world, various different types of data can be collected. The data can be collected from different geographies, at different time and at different time zones. By analysing the data, through software or by processing through a program, you can deduce various results from it.
EIUBS offers Online Business Management Courses which build Critical Managerial Abilities using practice based learning methods. Thus participants not only gain knowledge but can also use concepts, methods, tools and technology for improving business performance.