250 words, please Bonds There are numerous career options available to business

Question

250 words, please

Bonds

There are numerous career options available to business and finance graduates. Students can begin careers in government, the non-profit sector, corporate finance, banking, investments and wealth management, education and other fields. However, it is useful to know the expected salaries and the projected job demand for a particular skill set prior to spending years acquiring the expertise to work in that field. One of the ways you can learn more about a particular career is to research that career using various resources. Use the website below to start your research on your chosen field. Then discuss with the class your chosen career, explaining the skill set needed to perform the job, the demand for the job, and the salary projections for the chosen career field. Explain how your current qualifications match up to the skills needed.

Explanation / Answer

I have chosen a career in the field of business analytics. Business analytics involves the use of various concepts of statistics to analyse the bulk data. For example a consumer analytics job would involve analysing the large of customer data available from a retailer like Walmart. This could vary from identifying the customer buying behaviour, calculating the average sale per customer, the seasonality of sale with respect to particular products, analysing the customer feedback from millions of customers, etc. A bank will need to analyse the spending habits of customers, use analytics in processing of credit card applications, etc. On a small scale analysing these trends may be simple, however on a large scale wherein you would have ten million records of customer data will make it very complex. The use of various complex analytical tools like linear regression, trend analysis, clustering will be used. The career in this field would therefore be challenging and greatly advantageous both in terms of accumulating knowledge and higher salaries.

In the present day era where most people prefer to do things online, a career in the field of data analytics is having one of the highest demands. In the 90’s the cost of storing data was exceptionally high and today, storing data involves almost no cost. Big retailers and Banks are the biggest employers in the area of business or data analytics. The entry point in the field would require a bachelor’s degree in statistics, mathematics or engineering and master’s in business would be an added advantage. The starting salary would be in the range of $65,000 to $80,000 per year. After a few years of experience, one could expect between $150,000 and $200,000 per year based on performance.

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