This course is designed to impart important skills and knowledge to students to help them succeed in business. MBA programs are being offered in different specialisations allowing the students to choose from the listed ones. Data scientists are well-equipped with the skills and knowledge to understand the modern business environment and deploy the cutting-edge analytical methods they learn for efficiency and better performance. 

The specialization called data science management helps candidates to convert data into 

business decisions. This MBA program helps candidates convert data into better business decisions. Data analytics adds value and effective communication for data scientists who crunch the numbers. This MBA course with a specialization in data science prepares the candidates to take up careers in strategic planning, brand management, risk management, management consulting and public finance.

Data Science is usually most confused with data analytics. Data science is the broad term under which data analytics falls. Data science is a combination of various disciplines that comprise Statistics, Mathematics, Information Science, Computer Science, Artificial Intelligence and Machine Learning. Data science management involves working with Big Data with a different approach. Includes ideas such as data mining, predictive modeling, ML algorithm development and data inference. Actionable business strategies are formulated after drawing patterns from complicated datasets.

The emphasis of Data Science management is on extracting useful correlations from large sets of data. Data Science is aimed at unearthing unusual and new questions that will be pivotal in facilitating business innovation.

Various entrance-level exams, such as the CAT, XAT, CMAT, SNAP, and NMAT, are conducted every year to gain admission to an MBA in Data Science management. The fees for such programs in India range between ₹ 10 lakhs and ₹ 25 lakhs. 

The salary range for graduates after completing the degree in data science ranges from ₹5.66 Lakhs per annum to ₹ 17.02 Lakhs per annum. 

The growth and the increasing demand for Big Data have generated a demand for Data science management and data analytics. The explosive growth of data can be explained by the massive quantities that are being contributed by the entire world. It had been forecasted that within a decade by 2025 the world would have produced 463 exabytes of data

All our activities on the internet are covered under Big Data. This encompasses emails, messages, tweets, user searches via search engines social media conversations data generated through the Internet Of Things and all such connected devices.  The massiveness and delicate nature of the data generated render it impossible to process and analyze via conventional data handling and analysis mechanisms. Data Science and Data Analysis facilitate easy processing of such data.

Data Scientists analyze data and conclude it. They process, clean and interpret data with Machine learning, statistical and mathematical methods. Complex data modeling procedures are developed using prototypes, bespoke analysis, ML algorithms and forecasting models. MBA in Data Science facilitates technical data interpretation and strategic planning and management.

MBA in Data Science: Highlights 

MBA in Data Science is considered to be one of the most popular specializations in MBA. Students are eligible to take admission after graduation although an individual having profound work experience is always on the lookout for job opportunities in the deemed companies. These are some of the highlighted features of the course which are mentioned below in the table:

What is Data Science Management

Data science management is directed to the management of how data science projects get planned, performed and presented. It incorporates the coordination of teams of engineers, data scientists and analysts to handle delicately complex challenges using data. The primary motive is to ensure data gets captured, analyzed and transformed into actionable insights to benefit businesses or organizations. A data science manager makes sure that the team possesses the necessary skills, tools and resources that are efficient. They also determine what problems should be tackled, how data should be collected and how the results can be utilized to enhance decision-making. Effective data science management involves establishing clear objectives, ensuring deadlines are met and ensuring communication between team members and stakeholders. It also includes managing risks, such as data privacy issues, and ensuring the team adheres to ethical principles. Data science managers need to be informed about new technologies and trends in the field to support their teams. Ultimately effective data science management translates to more informed decision-making, improved strategies, and more value to the organization. Through effective data science management, companies can unleash the full power of their data and make better, data-informed decisions.

Why is Data Science Management important?

A degree in data science management is important nowadays and has a high scope in the future because of the following points:

To unhide and reveal the hidden patterns- Data Scientists and data science managers can make out the trends and patterns that are not easily visible to the human eye or can be grasped by human intelligence. After identifying the correct pattern of the data organisations can make informed decisions that are evidence-based to mark the growth of the company. Data scientists can identify the processes, reduce the costs and improve the overall productivity of the company. 

Data science management can also help to personalise the experience as companies can use data science to tailor products and services to individual customers. Data science can drive innovation by uncovering new opportunities and insights. 

Entrance Exam

In India, various national and state-level entrance examinations are conducted to get admission to top management colleges for an MBA degree in marketing management. 

These are as follows:

• CAT:  CAT stands for Common Admission Test and is one of the most popular entrance exams conducted every year in India for admission to management colleges. Students aspiring for the top management colleges must get a high score in CAT. 

• MAT: MAT stands for Management Aptitude Test and is a standardized test that has been conducted every year since 1988 to facilitate business schools to screen candidates for admission to MBA and allied programs. 

• GMAT: GMAT stands for Graduate Management Admission Test is an online exam conducted every year by GMAC for students to qualify for admission to MBA programs in universities in India as well as abroad. 

• CMAT: CMAT stands for Common Management Aptitude Test is a national-level examination conducted every year by the NTA ( National Test Agency).

• Some entrance exams are conducted on a university basis as some of the deemed private universities in India conduct their entrance exams to qualify students for admission.

Eligibility

The eligibility criteria for admission to the MBA in Marketing program are discussed as follows:

• Students must have a bachelor’s degree in any discipline from a recognized university with at least a passing percentage of 50% or equivalent CGPA. 

• For students under the reserved category ( OBC/SC/ST), 5% relaxation is offered from the mandatory passing percentage. 

• Students can apply in their final year after submitting a no-objection certificate from the principal. 

• A merit score of more than 60% is required for admission to top universities like IIMs and IITs. 

• Students must score well in the entrance exam if they aspire to be admitted to the top colleges.

The admission process steps for an MBA in Marketing are as follows:

• Students need to fulfill the admission criteria which include a bachelor’s degree with a minimum passing percentage of at least 50%. 

• Students need to pass entrance exams like CAT, XAT, CMAT, SNAP, GMAT, and other private university-based examinations depending on the requirements of different universities. 

• After clearing the entrance exams needed by the respective universities, students need to appear for the group discussion round and the personal interview round. These rounds are conducted to assess the student’s communication skills and problem-solving abilities.  

• The final selection in the universities is based on the overall score that will be calculated depending on the entrance exam score, GD/PI performance and work experience. 

By acquiring a degree in MBA in Data Science one can empower the master in data management skills which are highly required by companies nowadays. A comprehensive course curriculum that includes data analysis, machine learning, business intelligence and human resource management provides one with a competitive edge in data data-driven world. After completing the degree successfully one will receive the opportunity to open the door to the most lucrative career opportunities across diverse industries where data expertise is in high demand. 

Colleges with specialisations in Data Science / Specialised PGDM/MBA in Data Science- Fees

The table below mentions a list of leading colleges that offer the program MBA in Data Science. It mentions the fees, program, and duration of the program. One of the best colleges offering this program is Great Lakes Institute of Management with a fee of ₹6.00 lakhs for two years. These colleges offer campus placement that help the students secure a good job.

Colleges with specialisations in Data Science / Specialised PGDM/MBA in Data Science- Fees

The table below mentions the average package that the students receive after pursuing this program from the colleges mentioned below. Out of these colleges, Goa Institute of Management provides the highest package which is ₹17.02 lakhs per annum.

The field of analytics and data science offers a promising and rapidly growing career landscape. With the ever-increasing reliance on data-driven decision-making across industries, the demand for professionals skilled in these areas is soaring. An MBA in analytics and data science equips individuals with a unique blend of business acumen and advanced analytical skills which makes them highly sought-after in the job market. This degree opens doors to interesting and innovative career opportunities in roles such as data scientist, business analyst and data-driven strategist. The fusion of business insights and data expertise positions professionals to drive innovation and profitability to ensure a rewarding and impactful career in today’s data-centric world. 

The scope for an MBA in data science is vast in today's era as well as in the future age. Data science management consists of managing and caring for how data is collected, processed, analyzed and utilized to make decisions. Data science managers are responsible for making sure that engineers, data scientists are using the right skills and tools and methodologies to perform their tasks. 

An MBA in data science is a degree program that helps students plan and direct a team of engineers to handle different issues, collect and analyze data and how implement different solutions in order to benefit the company. The MBA program in data science is highly on scope as there is a broad range of activities and tasks related to managing data science projects and teams. 

It involves guiding how data is gathered, processed, analyzed, and converted into decision-making data. A data science manager ensures that data scientists, analysts, and engineers are given the proper tools and expertise to perform their tasks. They also make plans and direct the team on which issues to address, how data should be collected and analyzed and how the insights can benefit the business. The range of data science management also entails ensuring the team is meeting deadlines, operating within budget and adhering to ethical guidelines in the management of data.

It comprises risk management, including safeguarding data privacy and ensuring the work is accurate and reliable. Data science managers are required to remain updated with emerging tools, approaches, and trends in the industry, enabling their teams to transition to changes. The scope is not just limited to people management but also strategic decision-making regarding data-related projects. In short data science management encompasses everything from coordinating teams and handling data to ensuring that data-driven insights generate value for an organization. The scope continues to grow as data science becomes increasingly critical in decision-making. 

The different sectors where a data science management degree can be useful are 

1. E-Commerce- Retail brands study customer profiles, profits, losses, and consumer behavior through data analysis. This aids them in selling the correct products and modifying customer behavior.

2. Manufacturing- Increases productivity, reduces risks and enhances profits. Processes and productivity can be optimized and trends can be forecast.

3. Banking and Finance- Data analysis aids customer engagement, customer retention and acquiring new ones. Transactional data present in banks aid in fraud management and risk management as well.

4. Healthcare- Enables improved patient care upon reviewing and drawing inferences from past patient data.

5. Transport- This sector also generates huge amounts of data daily. Transport networks can be planned and controlled in a better way. Reliability of service can be enhanced and risks can be minimized.

Conclusion 

There are tremendous opportunities in this field. There is a huge demand for data scientists overseas. Some of these countries are the USA, Canada, Ireland and Australia.

In India the boom in the economy an increase in the number of start-ups an upsurge in e-commerce a customer-oriented market and a huge more than a billion population are responsible for a high demand for data science professionals.