Businesses are always on the lookout for new things and technologies that can enhance their productivity or help them get greater results. One such domain is analytics.
Analytics helps businesses in creating, implementing, and testing new strategies for various sections including customer acquisition, customer experience, business growth, financial management, and much more.
However, because analytics is such a broad field, its subdivisions can get quite confusing especially when it comes to business analytics vs data analytics. Even though they are different from each other, people use these terms interchangeably.
That’s why we’ll discuss the difference between business analytics and data analytics today. We’ll explore the distinctions between these two fields and understand why they are different from each other:
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Business Analytics vs Data Analytics: Definition
The first difference between business analytics and data analytics is in their definitions. Both of them use data to help a business make better-informed decisions but they cover different sections of an enterprise.
What is Business Analytics?
Business analytics refers to the iterative exploration of an enterprise’s data while using statistical analysis techniques to get insights so they can make smart decisions with them. It is a subcategory of business intelligence that focuses on using financial analysis and reporting tools, data mining tools, and data visualization tools to figure out how to use data properly. The aim is to simplify data application for businesses to identify weaknesses, enhance value, and optimize costs for the current operations.
Business analytics helps a business in solving its unique problems and so, is usually at the front of the pipeline. This is a huge distinction because data analytics focuses more on the backend of the business’s data use.
In simple terms, business analytics uses data to help the business make smart decisions about its various aspects. It can help in nearly every section of a business including sales, finance, human resources, product development, customer service, etc.
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What is Data Analytics?
Data analytics focuses on collecting and using large amounts of raw data to draw conclusions about it and gain valuable insights.
Data analytics consists of analysis and categorising of data including sorting, cleansing, storing the data while identifying patterns in the same. One of the most popular aspects of data analytics is machine learning.
Machine learning allows you to process huge amounts of data and find patterns that allow you to make accurate predictions about that field. It also helps you generate insights that solve complex business problems for your enterprise.
Data analytics is vital for businesses as it helps them become more efficient and devise new strategies through making predictions.
Business Analytics vs Data Analytics: Salary
When we look at the average pay for both of these roles, we find that there’s a little difference between business analytics and data analytics.
The average pay of a data analyst in India is INR 4.3 lakh per annum. Experience matters a lot in this field as an entry-level data analyst with less than a year’s experience gets INR 3.44 lakh per year including the average bonus, overtime pay, and additional benefits.
A data analyst with one to four years of experience gets around INR 4.15 lakh per annum while a professional in this field with five to nine years of experience gets INR 6.73 lakh per annum on average. On the other hand, an experienced data analyst with more than 10 years of experience can get more than INR 10 lakh per annum on average.
The average pay of a business analyst in India is INR 6 lakh per annum. A fresher in this sector makes around INR 3.5 lakh per annum while a business analyst with one to four years of experience gets INR 5.28 lakh per annum on average. Like most sectors, experience matters a lot in this field as professionals with five to nine years of experience get INR 8.3 lakh per annum.
However, a business analyst with more than 10 years of experience gets INR 10 lakh per annum while a business analyst with more than 20 years of experience gets INR 20 lakh per annum.
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As you can see, the pay range for these fields is quite similar but business analytics has a higher upper limit in comparison to data analytics.
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Business Analytics vs Data Analytics: How to Enter
Business analytics and data analytics require you to develop different industry skills and so, you’ll need different certifications to enter these industries.
Data analysis professions such as data analyst, product analyst, and data scientist require you to be familiar with various data science subjects including predictive analysis, statistics, data visualization, and big data analytics.
On the other hand, business analytics requires you to be familiar with business acumen (the keenness of solving business problems), data fundamentals, statistical and modelling tools, ability to track latest industry trends and make decisions accordingly.
Courses for Data Analytics
At upGrad, we offer multiple data analytics courses. You can enroll in our Master of Science in Data Science program. We have launched this program in partnership with Liverpool John Moores University. It lasts for 20 months and is completely online.
Apart from that program, you can enroll in our PG Certification in Data Science program. We offer this program with IIIT-B and lasts for seven months. If you want a more detailed learning experience from IIIT-B, you can enrol in the PG Diploma in Data Science program. It’s India’s first NASSCOM certified PG diploma program in data science.
Business Analytics Courses
If you prefer to pursue a career in business analytics, you can enrol in our Business Analytics Certification Program. It lasts for three months only and is completely online. There’s also our Executive Post-Graduate Programme in Business Analytics. This program lasts for eleven months and offers more than 100 hours of live sessions and 8+ case studies and assignments.
Another excellent short-term course is Global Master Certificate in Business Analytics which lasts for six months and gives you a certification from Michigan State University, the #32 ranking public university in the US.
You can also check out IIT Delhi Business Analytics Course. IIT Delhi is one of the top institutes in India and also one of the oldest IIT’s and is always excelled in giving highly industry-relevant courses, Now IIT Delhi has partnered with upGrad to get these top IIT Delhi courses online. They have a variety of other programs like Machine Learning, Executive Management Programme in Strategic Innovation, Digital Marketing and Business Analytics etc.
Our learners also read: Learn Business Analytics Free
Figuring out the difference between business analytics and data analytics can be challenging. However, we’re certain that the above points illustrated the notable distinctions between these two sectors.
Business analytics will be helpful to you if you want to pursue a career in management as it focuses on gathering insights for decision-making. Having this skill will make your job as a business leader much easier.
On the other hand, data analytics will be useful for you if you want to pursue a career in the tech sector. It focuses on analyzing and interpreting data to get insights. Usually, data analytics professionals deal with a huge quantity of data so they use advanced tools such as machine learning.
What is the difference between data analysis and data mining?
Data analysis is a process that involves analysing and organising raw data to gain valuable insights whereas data mining is a process of extracting important patterns from large datasets. In data analytics, the dataset can be small, medium or large whereas in data mining, it is usually large and structured. Though these terms differ, they are both subsets of business intelligence, and have an impact on the success of an organisation.
What are the key responsibilities of a product analyst?
As the name implies, a product analyst’s main responsibility involves keeping an eye on a product’s lifecycle. From identifying target markets to researching and making marketing strategies, the role of a product analyst is vital in an organisation. Since they work with different departments within a company, they’re required to keep an eye on market trends and gather data about products. Certain product analysts even interview customers to receive feedback and then use this data to make improvements in the product. Ensuring a product is suitable and profitable is in their hands.
Is the upGrad Master of Science in Data Science certification worth it?
Yes, it is. If the world of analytics excites you, you should definitely do this certification programme. To be eligible, all you need is a bachelor’s degree with 50% marks with no coding experience. You’ll get a thorough understanding of python programming, machine learning, natural language processing, business analytics and data engineering. It is a 100% distance-learning programme that offers timely doubt resolution. After the course, you can explore job roles such as data analyst, data scientist, machine learning engineer, product analyst and business analyst.