What is the scope of MBA in business analyst?
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Ok, to understand the scope of MBA you need to understand the true meaning of business analyst and what does he or she actually do! So lets begin with the same, you see when you hear the word business analyst, what you catch from the same is analysis. Well you are absolutely right in this! A work of a business analyst is related to the analysis. Now the question comes, what sort of analysis? Why do we require that analysis? Is it even useful? To answer all these questions let me make pointers for you:
- What sort of analysis?
- Past trends: It is mandatory for a company to undergo the past trends so that measures can be taken from the mistakes made in the past and fruitful results can be brought out.
- SWOT analysis or ETOP analysis: For those who do not know about SWOT or ETOP, SWOT analysis is basically Strength, Weakness, Opportunity and Threat analysis and on the other hand ETOP is Environmental Threats and Opportunity Profile.
- Demand Forecasting: Demand forecasting is activity of predicting the future demand of a particular product by studying the present and past data so that preparation can be made as per the same.
- Sales Forecasting: Sales Forecasting is the activity of predicting the future sales of a particular product by studying the present and past trends of the company so that preparations can be made for the near future.
- Changes: An analysis to be made to check for whether the company is working efficiently or not. These changes can be technological, cultural, environmental, etc.
- Development: To analyse the various areas where development is required and what measures are to be needed to perform the same.
- Functioning of Business: To make a complete analysis of the corporation for whether the functioning of the business is going on smoothly or not.
- Support system: To check whether the support system is able to cope with all the issues or not.
- Each department: To study each and every department, be it any sector, to confirm that no issues or threats are being faced or nobody is misusing the company (lifting up the corporate veil, if needed)
- Why do we require such analysis?
- Past trends: we deeply need to study the past trend so that we could come to know of all those problems that the company has faced and to learn from it as an experience. Also we need to make sure that a black history may never get repeated and if there has been a boom stage in the past then we should learn from the same and look after strategies that can help us reach boom stage again.
- SWOT or ETOP: We need SWOT and ETOP as it helps us to draw the picture of our own organisation in comparison to the competitive industries. This becomes a major helping hand to know the present level and the scenario of the market.
- Demand and Sales Forecasting: Through the help of demand and sales forecasting, we can go through the past and present trends and aware the organisation of the opportunities or the threats coming our way in the near future. Not just that, forecasting can help us draw an estimate picture so that we can prepare our production unit for the same!
- Changes and Development: It is important to research about the various changes being made in the internals of an organisation and also for whether they are functioning efficiently or not. Talking about development, as we know that the present gen is becoming technology-oriented, so we need to buckle up and cope up with the increasing speed as well.
- Overall company: An analyst paints the real picture of how it looks to the outsides and how weak it is at some level. It is the job of an analyst to point out the maximum of weak points of an organisation so that clear the image, more will be the improvement.
- Is it even useful?