Management career options in Machine Learning, Big Data analytics

Modern technology have altered the way firms function and increased efficiency by allowing them to properly exploit data. In this context, technologies such as big data analytics and machine learning (ML) are critical. However, in order to properly implement these technologies and gain a competitive advantage, businesses require trained people that can efficiently meet their needs.

As a result, big data analytics and machine learning (ML) professionals are in high demand across a range of companies and sectors. To seize these chances, one must have excellent managerial skills in addition to the necessary training and education in the relevant field. Let's now explore some of the profitable and promising employment options in these fields.

Promising chances for a career

Healthcare data analyst

Technology and the healthcare sector are the two with the fastest job growth in India. The intersection of these two industries can be found in a career as a healthcare data analyst. A healthcare data analyst is someone who applies data analytics to improve healthcare outcomes. By gathering, aggregating, and analysing data from diverse sources, healthcare data analysts enhance patient care, expedite healthcare operations, and assess the efficacy of healthcare institutions. They concentrate mostly on the administrative side of medicine, which requires in-depth expertise.

Human resources analytics specialists

Because they study data and make suggestions for improving internal processes, HR analytics specialists are essential to every firm. They are the professionals who analyse statistics and data relevant to a company's workforce. They provide information to employers regarding their employees' performance, compensation, and benefits. A firm's expansion depends on the work of HR analysts because they may make a company more successful and efficiently operated. The contact between the company and its employees is also handled by an HR analytics expert, who also ensures that everyone is on the same page and that business operations are effective.

Marketing analytics manager

A marketing analytics manager must evaluate the success of marketing campaigns using performance indicators and market trend information in order to build strategic processes to improve the company's brand image. To boost sales and profitability, they also look for business prospects by examining existing customer wants. They also devise cost-cutting plans by bargaining with reputable suppliers and vendors who have access to top-notch resources and materials for production. When tracking sales data and putting ideas into action to raise staff productivity and efficiency, a marketing analytics manager needs to be very adept at organising and communicating.

Analyst, business intelligence

The need to utilise data to promote organisational goals has elevated the importance of business intelligence (BI). Furthermore, there is an increasing demand for skilled business intelligence analysts. A business intelligence analyst's major duty within an organization's overall business intelligence system is to function as a vertical link across departments in order to deliver highly valued information in support of decision-making needs. A business intelligence analyst is also in charge of tracking and deriving relevant insights from the management's KPIs (Key Performance Indicators). These findings then influence critical business decisions.

Considering everything

As technology develops, big data and machine learning (ML) are without a doubt becoming trendy terms and in greater demand by businesses. According to Fortune Business Insights, the big data analytics industry will increase from USD 271.83 billion in 2022 to USD 745.15 billion in 2030. Similar to this, it is projected that by 2030, the global Machine Learning (ML) market, which was valued at $19.20 billion in 2022, will have increased by $225.91 billion, with a CAGR of 36.2%.

This information successfully demonstrates that new career opportunities will soon appear in the markets of a wide range of businesses. However, individuals must combine technical knowledge and business acumen in order to secure profitable professional possibilities. They also demand educational credentials that increase the likelihood of career advancement. In order to enhance their knowledge and skill sets, students might pursue a PGDM (Post Graduate Diploma in Management) in Big Data Analytics. They will be able to take advantage of lucrative professional prospects while also being well-equipped to handle the obstacles posed by the more technologically advanced business environment.

(The author is Professor in Information Technology FORE School of Management)