Technological disruptions such as advances in machine learning and robotics have automated existing jobs in sectors such as manufacturing, retail and food production. With changing business models the employees now require different core skill sets. A 2017 All India Council for Technical Education report found that over 60 percent of eight lakh engineers graduating from engineering institutions across the country remain “unemployable” each year.
The survey cited that only 1 percent of engineering students take part in summer internships. The alarming news is that only 15 percent of engineering programs offered by over 3,200 institutions are accredited by the National Board of Accreditation (NBA). The general view is that the current talent pipeline cranked out of engineering institutes comes with outdated knowledge. Today, a four-year technical degree is not enough to guarantee a suitable job placement. Employers increasingly favour an ability to work with data, analytics and visualisation skills.
This study delves deeper into the type of educational institutions offering data and analytics programs; how the educational landscape is changing in response to the heightened demand for analytics skills and what needs to be done to fill the skill gap.
Different Models Of Analytics Education Providers In India
The nature of analytics education has changed and a mix of models have emerged in the online space to accommodate the changing requirements of learners. Our survey revealed respondents seek a career-focused analytics education augmented by classroom setting that prepares them for job functions in the data analytics space. In cases where learning is delivered purely online, participants look for real-time learning in a format that allows learners to pursue it at their own pace. The course content is created by top instructors, with industry and university collaboration to provide a well-rounded analytics education. In the case of executive analytics courses, technical skills such as data management are augmented by soft skills such as business understanding and communication. Executive courses are intended for senior professionals who want to renew their skillset and understand how data can be helpful in managerial decision making.
Analytics education providers in India mostly offer Business Analytics (BA) and Business Intelligence (BI) programs that combine analytical number crunching, reporting and visualisation techniques.
Lay Of The Land: Analytics Education Players In India
There are at least 250 educational players in India providing analytics education in some format. one-third of these players are organised B-schools, engineering colleges and Universities and the rest are private training institutes. Top B-schools are collaborating with the plug-n-play venture for high-level campus learning experience that bridges the gap by bringing industry perspective. B-schools have also partnered with leading industry providers that expand the expertise by delivering technical training on in-demand industry tools. From on-campus engagements to live online classes, these collaborations meet the unique industry demand.
Another key observation is the academic collaboration between Indian universities and IT majors to bridge the existing skill gap in the industry. The offshoot is creating a steady stream of talent and adding L1 employees to the talent pool. These courses cover the whole gamut of requirements [data analytics and management strategy] and also add to the students’ employability factor.
The earliest disruptor in the market — private training institutes or edtech startups provide career-oriented, short-term courses to working professionals who want to get ahead in their career. Private players have built a solid reputation based on successful placement track, eminent faculty drawn from top schools and economic accessibility. Geared at early, mid and senior working professionals, the flexibility of online courses have made them a popular academic choice among this segment.
Mode of learning for Private institutes
For private training institutes, almost all courses are part-time courses available either as an online model or weekend classroom model.
An astounding 87 percent of analytics courses from private training institutes are self-paced learning models. The format is mostly popularised by the likes of Coursera, edX and Udemy. There might be a bit of an element of projects and instructor contact, yet mostly it is learning out of pre-recorded videos. Customised lectures, industry-focused curriculum and a partnership with some of the world’s leading universities make it the best choice for working professionals to advance up the job ladder. This model is popular with learners with demanding schedules who need the flexibility of pursuing the course at their own convenience. In fact, self-paced learning models were specifically created with working professionals in mind.
On average, analytics courses by private institutes have 105 hours of instructor contact hours. This does not include self-paced only learning courses.
The hybrid model of self-paced + online instructor-led courses has the highest number of contact hours at 157. The blended learning opportunity enables students to get continuous feedback and provides real-time assessment.
Weekend-only model has the least contact hours at 75. For those looking for face-to-face learning environment, weekend model is the best fit.
Mode of learning for B-school and Universities
56 percent of all long-term analytics/ data science programs by B-schools/ institutes in India are part-time courses. The rest 44 percent are full-time programs. Most of these full-time courses have incepted in last 2 years itself. Schools earlier experimented with part-time courses, and moved towards full-time.
On average, full-time courses are for 19 Months whereas part-time courses are for 8 Months. Full-time courses offer learning in a structured format, enable peer-to-peer interaction and offer a comprehensive academic curriculum. besides, full-time courses feature a broader, more comprehensive approach to data and analytics education. Students get hands-on experience with a variety of analytics tools and learn how to apply them in areas such as finance, marketing operations at the state-of-the-art big data labs. The faculty comprises seasoned professors and industry professionals who broaden the academic experience with industry inputs. In addition to industry exposure, each semester is complemented with case studies, Capstone project and guest speakers that makes for a well-rounded analytics education.
On-campus programs play a major role in placements and internships and enable students to explore career opportunities through recruitment programs with partner companies.
In terms of degree awarded, 45 percent of long-term programs provide a Certificate in analytics, 31 percent provide PG diploma and 24 percent bestow a Masters degree. ost of the master’s degree programs are full-time programs.
For short term programs, the average course fee is Rs 27,300. For long-term programs, the average course fee is Rs 4.8 Lakhs. The economic accessibility of short term courses and flexibility of payment make them a popular choice among learners. Known for their blended experience and online convenience, short term courses also help learners in professional development and get ahead in the data science career. As compared to on-campus programs that take a longer time to finish, short-term courses put students on an accelerated career path. Graduates from short-term and long-term programs go on to find high paying jobs across the sector.