While we’re all about innovation here, that does not mean we always insist on breaking the mould. Sometimes, the book is already written on a topic and it’s simply a matter of hitting the books. Other times, persistent guidance from a course lecturer and planned coursework is required to acquire the basics on the topic first, then move onto intermediate topics and finally to the advanced aspects worthy of review. And, so it is with the subject of Business Analytics, where reading one book is never enough.
Here is how to become proficient in Business Analytics and what you should do to get there.
Who Is Suitable for Learning Business Analytics?
While being comfortable working with computer data is important, it’s equally vital to be at ease with all aspects of computing. Although a Business Analyst is not usually directly running or maintaining a database, they need to be completely familiar with how they work, and how they can be structured to make their data storage as efficient as possible.
Being someone who has a knack for attention to detail is very useful, but a logical mind is required to work in the field too. There is no room for people who aren’t focused on the task and intent on getting results for their employer. It’s very much a results-driven career.
The Prerequisites
Given that Business Analytics is a complex and difficult subject to master, it stands to reason that it’s especially useful and often required to have a solid grounding in certain other subjects before proceeding. For that reason, it’s beneficial to check whether you already know these other areas and if you don’t, to acquire some before proceeding with a course in analytics.
In short order, the basic prerequisites are:
- Statistical models, optimisation of data, neural networks, NLP, and machine learning
- Understanding of SAS, R, Python, Tableau, Excel, and SQL
- An appreciation of business verticals and how they differ. The most relevant industries are technology, telecom, healthcare, retail, and technology. It’s also beneficial to universally understand the functions of teams working in sales, marketing, operations, and product development.
To break this down, point one relates to an understanding of statistics, networks and how computers work with data in various ways. Point two causally links to programming languages like SQL for querying databases and R, a language that is specific for working with statistics and analysis. Point three covers that a data analyst will find themselves working across different industries and departments, rather than in a set role within a single industry. Versatility is key here.
Study a Degree or Study Privately?
Whilst aspects of Business Analytics can be studied at home alone, it’s a sufficiently difficult subject that it isn’t practical to expect to cover all aspects while running solo. There will be too many times when you don’t have the right answer or access to the necessary software tools to work the problem and find the right answer. Access to university faculty and fellow students is essential to handle the complexity with the subject of Business Analytics.
Indeed, many of the faculty on a course will have considerable business experience and this will have a bearing on the usefulness of a course where they are one of the lecturers. Being able to make sense of and connect the cold process of analytics with real-world situations is an important part of connecting up the dots so that students can fully understand the topic and become proficient when working within it.
Should the Prerequisite Subjects Be Studied Before Proceeding to Business Analytics Books?
Most master’s degree courses require a bachelor’s degree in a related subject. It’s hoped that previous training in some aspects that will overlap and be built upon in a master’s level analytics course will have a bearing on the student’s ability to grasp the key concepts and not feel lost as they proceed through the curriculum.
Furthermore, it’s worth saying that a potential student should not disregard that an understanding of the basics is necessary. It’s not to be scoffed at. Indeed, a student simply won’t be able to get far without it.
Therefore, when a bachelors is already in the pocket but it hasn’t practically covered the subjects mentioned in the prerequisites section above, then potential students would be strongly urged to study books covering those topics and practice what they’ve learned to become practically functional first.
What Business Analytics Books Should You Read Too?
Once you have covered any shortfalls in the basic knowledge required, then it’s time to move onto books that cover Business Analytics.
Data Strategy
The first book that should be tackled is Data Strategy by Bernard Marr. This is a big picture book that covers subjects like the Internet of Things, how it relates to big data, and where data strategy and ultimately data analytics comes into play. It’s an excellent primer on how it all ties together for early students.
Big Data Demystified
The Big Data Demystified book from David Stephenson is aimed at making a clear connection between the information that is flowing into companies and how best to use it. The author draws real-world comparisons to make the use of AI and machine learning understandable to new students who are not technology experts. Companies also have some of their executives read this book because it takes a very business-centric viewpoint to help management understand why data has become so important in this century.
Data Science for Business
The Data Science for Business from Tom Fawcett and Foster Provost goes deeper into big data and its connection to data science. The business aspect is fully embraced here, so this is an excellent book for students wanting to understand the potential of big data and why enterprises are so excited about it.
Other books follow these ones, which are worth reading by BA grads. A list of the better ones is shown here for your review.
Business Analytics is an exciting area to get into. It does require a student to be sufficiently well-versed before proceeding with a master’s degree on the topic, but the time investment is well worth it.
