The premier institutions of IIT Kharagpur, IIM Kolkata and Indian Statistical Institute (ISI) Kolkata, have announced the PG diploma course in business analytics starting this year.
The Post Graduate Diploma in Business Analytics (PGDBA) will be taught one semester each by these three instututes enabling students the rare opportunity to be students of all the three institutions at the same time.
Professor Sudeshna Sarkar of Computer Science and Engineering department at IIT-Kharagpur said the two-year full-time residential diploma programme is designed to create business analytics professionals with the inter-disciplinary approach.
The first semester at ISI will have mathematical foundation, statistical and machine learning theories for analytics, followed by IIT Kharagpur’s focus on the engineering aspects of data analytics and the third semester at IIM-Kolkata will teach on applications of analytics in business environment. The fourth semester will be for an on-the-job training for the students who will be sent on internship for six months with an analytics project in a company.
The field of business analytics is evolving rapidly and this course is expected to groom professionals with a strong foundation in statistics and machine learning, technology and business processes and applications, who will be ready for a career in the fast growing analytics industry, Sarkar said.
In India, the analytics market is expected to double between 2011 and 2018 reaching a figure of $2.3 billion by 2018, according to a report by Nasscom and Blueocean Market Intelligence.
International Data Corp. (IDC) forecasts that data production will increase to 40 Zettabytes (or 40 billion terabytes) by 2020, 50 times more than in 2010.
According to a forecast made by IDC, the global spending on business analytics services is expected to rise from US$ 51.6 billion in 2014 to US$ 89.6 billion in 2018.
According to the McKinsey Global Institute, by 2018, the United States alone will lack about 140,000 to 190,000 workers with deep analytical skills and another 1.5 million managers and analysts who can utilize large data sets to make better decisions.
In India, the analytics market is expected to double between 2013 and 2018, reaching a figure of US$ 2.3 billion by 2018, according to a report published by Nasscom and Blueocean Market Intelligence. There will be a shortage of about 200,000 data scientists in India over the next few years, according to sources in the Analytics Special Interest Group set up by NASSCOM.
Hence, the Post Graduate Diploma in Business Analytics (PGDBA) – jointly offered by IIM Calcutta, IIT Kharagpur, and ISI Kolkata – aims to help shape the emerging profession of business analytics by delivering a cutting edge inter disciplinary educational experience to graduate applicants with an aspiration of building a career in this field, said the institute.