Business Analytics (Advanced) Module

Business Analytics is the process of converting data into insights. This has emerged as a powerful tool for development in the 21st Century. Also, it has created numerous career opportunities for people and that is the reason why people are inclined towards learning Business Analytics these days. Financial institutions find it’s use in models that predict credit quality, fraudulent credit card transactions and cross-sell / up-sell possibility that are largely common in banks, insurance companies, research houses, and credit-rating organizations etc. The Business Analytics(Advanced)Module exam offered by NSE provides insights about business analysis.

Prerequisites

The candidates who have successfully completed the Business Analytics Program with IMS Proschool can appear for the certification exam. Since, mathematics and statistics form the basis of business analysis therefore the candidates should also have graduated with a flair for Mathematics or Statistics.

Learning Outcomes of Business Analytics(Advanced) Module

This exam provides knowledge of the following-

Data Exploration using Statistics
Predictive Analytics: Regression – Multiple, Linear and Logistic, Forecasting
Data Mining Techniques: Classification, Clustering and Market Basket Analysis
Excel, SAS and R software

Target Audience

This exam is beneficial for the following groups-

Students from Management and Commerce background
Graduates and Post-graduates
MBA students
People who wish to have career in business analysis

Job roles

Business Analyst
Business Intelligence Manager
Analytics Manager
Analytics Consultant
Data Scientist

Skills Required

The skills required to become a Business Analytics Professional include:

In-depth knowledge of R
Python coding
MS Excel
Mathematics Expertise
Business/strategy acumen

Registration Process

You can register for the module by following the given steps:

Go to the link ‘Online Registration’ that is available under Education>Certifications>Online Register.
After getting registered, you will get a unique NCFM registration number along with a user id and password along with a confirmation mail.
Then, access your NCFM account to make payment , enrollment, checking study material status and viewing certificates etc.
Moreover, use the same NCFM registration number while enrolling for the module.

For more details and any other queries, visit the Business Analytics(Advanced)Module FAQs

Business Analytics (Advanced) Module Course Outline

Moreover, the syllabus of exam has been classified broadly into six domains and their subdomains that are mentioned below:

DOMAIN 1: STATISTICAL TECHNIQUES

Different types of data, Data summarization, Frequency table, Frequency Distributions, Histogram, Measures of central tendency and dispersion, Skewness and kurtosis, Basic Probability, Conditional Probability, Normal Distribution, Sampling methods, Point and Interval estimation, Central Limit Theorem, Null and alternative hypothesis, Level of significance, P value, Types of errors and Hypothesis Testing

DOMAIN 2: REGRESSION TECHNIQUES

Linear and Multiple Linear Regression

Logistic Regression

DOMAIN 3: PREDICTIVE ANALYTICS

Principles of Forecasting, Time Series, Causal models, Types of Forecasting Methods and their characteristics, Moving Average, Exponential Smoothing, Trend, Seasonality, Cyclicity and ARIMA

DOMAIN 4: APPLIED MACHINE LEARNING

Classification

Clustering

DOMAIN 5: TOOLS

Excel

Python & R

Tableau – (Data Visualization tool)

SQL – Introduction to Databases

Concepts of Join – Inner, Outer

DOMAIN 6: PROJECTS

Business Analytics (Advanced) Module Study Guide

First of all, you should familiarize yourself with all the topics and subtopics that are there in the Business Analytics(Advanced)Module exam syllabus. This will help you gather a fair idea about required learning and will help you distribute your learning preparation. Also, the practical application of what you learn is really important so keep that in mind while studying. So, start your preparation by going through the syllabus thoroughly.

Business Analytics(Advanced)Module preparation guide

Review the details of exam

The next step towards preparing for the exam is to thoroughly go through the details of exam including details about the type and number of questions and also the time allotted. This helps you give a direction to your learning and also analyze the time allotted so as to manage time well, during the exam. Thus, make sure that you are aware of all the minute details.

Study Resources

After doing the payment, you can download the study material for the exam after logging into your account from the option of E Library.
Also, if you wish to buy workbooks for NCFM modules then you can send a request letter along with demand draft of Rs. 500/- per module per workbook.
In addition to the above basic NCFM program, NSE Academy offers courses that are divided as: Online Courses
- Class Room Courses
- Recorded Courses
IMS Proschool provides
- 10 Weeks program (weekends) in which you get trained by industry-professionals
- Live virtual classes along with access to recorded lectures as well
- Distant learning program in which online reading material is also provided

Join study groups

Also, joining study groups and communities can also prove to be of great help. This acts as a platform that connect professionals and beginners which in a way helps you get your queries solved and alongside, gives you the opportunity to have healthy discussions with peers from the same background. Hence, joining these groups help to keep you updated.

Practice tests

Lastly, comes the most crucial step of preparation that is practicing questions. This helps in refining the knowledge that you have gathered from different study resources. This not only helps in evaluation of your current preparation but also helps in boosting your confidence such that the actual exam feels like just another practice test. There are various practice tests that are available online but the reliability of the practice tests that we offer is really high. They are designed by professionals and are enough for you to practice and ace the exam.