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MBA Business Forecasting helps students in predicting future business outcomes for a wide range of businesses. It is a 2-year postgraduate program where students learn how these past events are to be analysed in predicting likely future developments. Check MBA Full Form
Candidates applying for this course should have a bachelor's degree with at least 50%. Selection of the candidates is done based on qualifying an entrance exam followed by a PI and in some cases a GD.
MBA Business Forecasting Top Colleges with Ranking
| NIRF Overall Ranking 2020 | Name of the College/ University |
|---|---|
| 2 | Indian Institute of Management (IIMB) |
| 3 | Indian Institute of Management (IIMC) |
| 5 | Vinod Gupta School of Management, Indian Institute of Technology |
| 24 | Narsee Monjee Institute of Management Studies |
| 35 | National Institute of Technology |
Checkout: Top Colleges MBA Courses in India
The tuition fees for the course MBA Business Forecasting ranges from INR 1,22,250 – 15,72,800. The course is available as a regular course as well as an online distance learning program. However, most of the courses are through regular mode only. The MBA course leads to an average package ranging from INR 4,32,000 – 23,75,000.
The sectors, where one may get a job after undertaking the course are the Banking Sector, Insurance, Equity Sector, Consumer Goods, FMCG, IT, Financial Services, Retail, Ecommerce, Manufacturing, Corporate Finance, etc. Some of the job positions in this sector are Data Analyst, Business Analyst, Senior Business Analyst, Market Researcher, Forecast Analyst, etc.
On completion of the course, students have the options for higher studies in the field by pursuing programs like M.Phil and PhD. Further, they have the opportunity to take up research in the field or pursue an academic career. Some may even start up their own business consultancy.
MBA Business Forecasting Admission Process
The admissions for the MBA Business Forecasting courses vary from college to college. However, most colleges select candidates based on an entrance test followed by a personal interview. A few colleges may even conduct a group discussion for finalizing on the selections.
Find here, the general admission procedures followed by most Indian colleges and universities for admission to their MBA Business Forecasting course respectively.
Also check, MBA Top Colleges NIRF Ranking 2023
MBA Business Forecasting Entrance-Based Admission
The entrance exam-based procedure for the admission is as follows:
- To begin with, the candidates will have to visit the website of the respective institute conducting the MBA program and learn about the course details, eligibility criteria and the admission process. The application will have to be done online.
- Candidates provide their mobile number and email ID, in order to receive the login credentials. Log in to the online application site and fill-up the form with all necessary details.
- Upload all the necessary documents, certificates, mark sheets, photograph and signature (if needed). You may also have to upload documents such as recommendation letters and a CV with details of the projects you might have worked on or associated with.
- For institutes asking for CAT/GMAT/MAT/XAT score, submit your score sheet as well.
- After having filled the form and uploaded all necessary documents, submit the application. You will be directed to the online payment portal, where you can pay the requisite application fee through any of the online means.
- Based on the details submitted by the candidates, the respective institute will shortlist the candidates, who will have to then appear for the entrance test. The entrance test is often waived off for candidates who have a valid CAT/GMAT/MAT/XAT score.
- Candidates qualifying the entrance test will be further shortlisted for a personal interview.
- Successful candidates will be then intimated as and when the results are out.
Also check, MBA admission without entrance exams
MBA Business Forecasting Eligibility Criteria 2023
The eligibility criteria to pursue an MBA Business Forecasting course from Indian colleges and universities are given as follows:
- The candidates should hold a bachelor degree preferably in Mathematics, Statistics, Commerce, Economics or Engineering from a recognized college or university.
- They should have at least 50% marks in aggregate in their graduate degree.
Read More: MBA Courses Admission Process and Registration
MBA Business Forecasting Entrance Exams Details
| Exam Name | Exam Details |
|---|---|
| CAT | Check Here |
| MAT | Check Here |
| SNAP | Check Here |
| IIFT | Check Here |
| IBSAT | Check Here |
| CMAT | Check Here |
| MAH CET | Check Here |
| NMAT | Check Here |
| ATMA | Check Here |
| XAT | Check Here |
| TISSNET | Check Here |
| TANCET | Check Here |
Entrance to most MBA programs in the top institutes in the country is through entrance exams. There are a number of such entrance exams that are conducted at the national level by different examining bodies and by individual colleges themselves. Some of these popular entrance exams for admission to the MBA Business Forecasting course are listed below:
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CAT: Common Admission Test (CAT) is the most popular entrance exam for admission to a number of Indian colleges and management institutes for their postgraduate courses in management and business administration. Administered by the Indian Institutes of Management, admission to all the IIMs in India are through CAT only.
- MAT: MAT or the Management Aptitude Test is conducted by the All India Management Association (AIMA), an apex body of local management associations and management professionals from industries, government sector and academia, working towards the cause of the management profession as well as education in India. The MAT is conducted four times in a year as a paper based test (PBT) as well as remotely proctored internet based (IBT).
- CMAT: Conducted by the National Testing Agency (NTA), CMAT or the Common Management Admission Test is a national level test for admission to management programs at all AICTE approved colleges, institutes and departments undertaking management education.
- XAT: Xavier Aptitude Test or XAT is a national level entrance test that is conducted by XLRI Jamshedpur for admission to a number of MBA and PGDBA programs at XLRI and 10 other business schools associated with it. Additionally, the XAT scores are used by more than 700 other business schools in India.
MBA Business Forecasting Entrance Exams Preparation Tips
Following tips mentioned below will help in preparing for the entrance exams for admission to the MBA Business Forecasting course:
- The entrance exams that are held for admission to most MBA programs in colleges and universities in India are mostly a single sitting exam of 2 hours that is held online.
- The tests consist of three sections namely Logical Reasoning and Quantitative Ability, Data Interpretation and Verbal Ability and Reading Comprehension.
- The questions that are asked in these tests are of multiple-choice types, where the correct option among the given four options is to be marked.
- The number of questions asked is 100, each of 3 marks. Considering that only 40 minutes is available for each section to be attended, it needs a great deal of speed and accuracy to ace these exams.
- It is essential that the candidates should attempt a number of mock tests and practise papers before appearing for such exams.
- The candidates should also familiarize themselves with the pattern of the test and syllabus.
Also, check MBA Skills Required
MBA Business Forecasting Top Colleges Admission Tips
To get admission to a good college or institute for pursuing the MBA Business Forecasting, candidates will have to take care of the following points and prepare accordingly.
- The first and foremost point for getting admission to an MBA program at a good college is to be on the lookout for such admission notifications released by the colleges from time to time. Also, see that you have the necessary aptitude and inclination for undertaking the program.
- The next big challenge will be qualifying one of these entrance exams such as CAT/XAT/MAT/CMAT/etc. these exams being quite competitive, it will require great effort on the part of the candidate to qualify them.
- Just acing the entrance exam won’t be enough as the candidates will then have to face the personal interview round, where the candidate’s communication and interpersonal skills will get tested.
- Final selection of the candidates is based on a lot many other factors too. The candidates past academic record as well as job experience, if any, is also taken into consideration while finalizing the selections.
- Besides academic performance, it is also seen whether the candidate had been active in co-curricular and extracurricular activities as well. Achievements in sports, cultural and social activities also play a part in deciding upon the selections.
- It helps, if the candidate after qualifying the entrance exam, prepares for the interview round by appearing for a few mock interviews. One may also go through the interview experience of past successful candidates that are readily available online.
MBA Business Forecasting Course Details
Learn here all about the MBA Business Forecasting course:
- A multidisciplinary program, MBA Business Forecasting is a useful course for those who want to use their analytical skills in predicting business outcomes and in developing strategies to handle future problems that businesses are likely to be affected with. Often, many social problems also get rectified by following
- The course helps you acquire an analytical mindset that goes a long way in finding solutions and decision making when one finally lands up a job in the corporate world.
- Some of the industries that the courses make a reference of and are of relevance are banking, insurance, retail, manufacturing, pharmaceutical, software development, finance, aerospace and so on.
- The course is of four semesters, where the final semester is mostly about projects and internships with the industry sector.
Read more: After MBA
MBA Business Forecasting Course Highlights
| Course Level | Post Graduate |
| Full-Form | Master of Business Administration in Business Forecasting |
| Duration | 2 years |
| Examination Type | Semester |
| Eligibility | Bachelor’s degree preferably in disciplines such as economics, statistics, mathematics, commerce, engineering, etc. from a recognized college or university |
| Admission Process | Entrance Exams followed by Personal Interview |
| Course Fee | INR 2,44,500 – 31,00,000 |
| Average Annual Salary | INR 4,32,000 – 23,75,000 |
| Top Recruiting Companies | Karvy, Amazon, Flipkart, Adama India Pvt Ltd, Saras Analytics LLC, Merilytics, Nastech Consulting, BeyondSkool, Dream 11, Slintel, Pinnacle Solutions, Axis Bank, Paytm, BankBazaar.com, PhonePe, Crisil, Licious, Barclays, Udaan, FinTech Startup |
| Job Positions | Data Analyst, Business Analyst, Senior Business Analyst, Market Researcher, Forecast Analyst, IT Business Analyst, Business Research Analyst, Data Scientist, Predictive Modeller, Quantitative Analyst, Big Data Analyst, Lead Analyst, Market Research Analyst, Senior Product Analyst, Project Manager, Senior Manager, Statistician |
Also read, MBA Admission through MAT
MBA Business Forecasting: Course Advantages
The many benefits of pursuing an MBA Business Forecasting program are as follows:
- Business Forecasting is a field in demand as most businesses would like to be ready for future challenges that business in particular and the industry, in general, may face.
- Someone with expertise in the field will be a lot helpful in coming up with strategies for businesses to not just survive in future but also help them expand their reach.
- After pursuing this course, one can find jobs in a variety of sectors like finance, marketing, banking, insurance, manufacturing, retail and so on.
- Some of the skills that the students will gain from this course are analytical and decision-making skills, skills in handling data and coming up with innovative solutions, etc.
- The course has future prospects, as one may take up higher learning programs like MPhil and PhD in the relevant subjects.
- By undertaking a career in this field, one can help businesses and organisations in finding solutions and be better prepared for the future.
- During the course of the study, through internships and industrial visits, the students will get a first-hand experience of the real-life problems that businesses and industries face in their day to day operations.
Also check,
MBA Business Forecasting vs PGDM Business Analytics: Which is Better?
MBA Business Forecasting and PGDM Business Analytics courses are quite similar in nature.
| Parameters | MBA Business Forecasting | PGDM Business Analytics |
|---|---|---|
| Focus Area | The focus area is forecasting future business outcomes through data modelling and predictions. | The focus area is theoretical knowledge in subjects like Management Functions and more, one needs to conduct several practical works like market surveys, researches, etc. |
| Duration | 2 Years | 2 Years |
| Eligibility Criteria | Graduation with at least 50% marks | Graduation with at least 50% marks |
| Admission Process | Entrance exam followed by an interview | Entrance exam followed by an interview |
| Average Course Fee | INR 2,44,500 – 31,00,000 | INR 12,00,000 – 24,00,000 |
| Job Options | Data Analyst, Business Analyst, Senior Business Analyst, Market Researcher, Forecast Analyst, IT Business Analyst, Business Research Analyst, Data Scientist | Data Analyst, Business Analyst, Senior Business Analyst, Market Researcher, Forecast Analyst, IT Business Analyst, Business Research Analyst, Data Scientist |
| Areas of Employment | Banking, Financial Services, Insurance, Retail, eCommerce, Consumer Goods, FMCG, Manufacturing, Information Technology, Equity Research, Corporate Finance | Banking, Financial Services, Insurance, Retail, eCommerce, Consumer Goods, FMCG, Manufacturing, Information Technology, Equity Research, Corporate Finance |
| Average Placement package | INR 4,32,000 – 23,00,000 | INR 6,00,000 – 23,75,000 |
Also, check Top Colleges offering PGDM Business Analytics course in India
MBA Business Forecasting Top Colleges with Fees and Salary
| Name of the College/ University | Average Annual Fees | Average Placement Package |
|---|---|---|
| Indian Institute of Management (IIMB) | INR 11,50,000 | INR 23,00,000 |
| Indian Institute of Management (IIMC) | INR 12,00,000 | INR 23,75,000 |
| Vinod Gupta School of Management, Indian Institute of Technology | INR 6,30,000 | INR 18,10,000 |
| Narsee Monjee Institute of Management Studies | INR 8,75,000 | INR 18,33,000 |
| National Institute of Technology | INR 1,22,250 | INR 6,20,000 |
| Indian Statistical Institute | INR 10,00,000 | INR 12,00,000 |
| Institute of Management, Nirma University | INR 5,02,000 | INR 8,21,000 |
| Lovely Professional University | INR 3,80,000 | INR 4,32,000 |
| Pune Institute of Business Management | INR 10,15,000 | INR 8,00,000 |
| Universal Business School, Karjat | INR 15,72,800 | INR 8,50,000 |
MBA Business Forecasting College Comparison
| Parameter | Indian Institute of Management Bangalore | Indian Institute of Management Calcutta | Vinod Gupta School of Management, IIT Kharagpur |
|---|---|---|---|
| Overview | IIM Bangalore is one of the best management colleges in India offering a host of management programs in a number of disciplines. Apart from MBA programs, the institute has a number of PhDs on offer too. | IIM Calcutta is another of the renowned IIMs in the country that is highly reputed even in the whole of Asia. It offers a combination of MBA, PGDBA and executive programs. | Vinod Gupta School of Management is the management department at the famed IIT Kharagpur, India’s first IIT. As an MBA college, it is first among the IITs. |
| Location | Bangalore | Kolkata | Kharagpur |
| NIRF Ranking 2020 | 2 | 3 | 5 |
| Average Annual Fees | INR 11,50,000 | INR 12,00,000 | INR 6,30,000 |
| Average Annual Placement Package | INR 23,00,000 | INR 23,75,000 | INR 18,10,000 |
| Top Companies | Karvy, Amazon, Flipkart, Adama India Pvt Ltd, Saras Analytics LLC, Merilytics | Nastech Consulting, BeyondSkool, Dream 11, Slintel, Pinnacle Solutions, Axis Bank | Paytm, BankBazaar.com, PhonePe, Crisil, Licious, Barclays, Udaan, FinTech Startup |
| Research Opportunities | PhD, Executive MBA | PhD, Executive MBA | PhD, Executive MBA |
MBA Business Forecasting Syllabus
| Semester I | Semester II |
|---|---|
| Introduction to Business Forecasting | Management Process & Organizational Behavior |
| Principles of Business Forecasting | Macro-Economic Management |
| Business Statistics | Accounting for Managerial Decisions |
| Time Series | -- |
| Semester III | Semester IV |
| Industrial Economics | International Economics |
| Computer Applications in Business | Business Environment Analysis |
| Business Communication Skills | Forecasting Principles |
| Business Strategy | Financial Management |
Also check, MBA Questions and Answers
MBA Business Forecasting Best Books
| Name of the Book | Author |
|---|---|
| Superforecasting: The Art and Science of Prediction | Philip E. Tetlock & Dan Gardner |
| Demand Forecasting for Managers | Enno Siemsen |
| Business Forecasting: Practical Problems and Solutions | Michael Gilliland, Len Tashman & Udo Sglavo |
| Scientific Forecasting: Methods and Applications | Karl Karsten |
| Basic Econometrics | DN Gujarati |
MBA Business Forecasting Job Prospects and Career Options
| Job Profile | Job Description | Average Annual Salary |
|---|---|---|
| Data Scientist | The main role of a Data Scientist is to collect and analyze data that will help in coming to an informed decision about future business strategies. | INR 15,00,000 |
| Business Analyst | The role of a Business Analyst is to analyze businesses and come up with strategies for future development and expansion of the business. | INR 11.00,000 |
| Market Researcher | A Market Researcher analyzes a lot many factors like customer preferences, opinions, marketing trends and so on to help formulate a business strategy. | INR 8,00,000 |
| Forecast Analyst | A Forecast Analyst makes use of financial modelling to analyze data like inventory levels, production output, demand and thus systematically set up an optimal production level based on potential sales. | INR 9,00,000 |
| Predictive Modeller | A Predictive Modeller makes use of processes in creating a model to predict future outcomes. | INR 7,00,000 |
The field of business forecasting offers for numerous job prospects and career options as discussed below:
- There are immense career opportunities after undertaking an MBA program. It leads you to a managerial position.
- One gets to work with top businesses in the field of banking, insurance, finance, marketing, retail, manufacturing, consumer goods and so on.
- The field of equity research also provides numerous opportunities to make it big in this field.
- There are a number of financial institutions, mutual funds and the stock exchanges that one can work with.
MBA Business Forecasting Future Scopes
After completing the MBA Business Forecasting course one has the choice of pursuing a job in the corporate sector or go for higher studies. Though the jobs are well paid one, those eager to expand their learning horizon can go for higher studies. A few such options available for higher studies are discussed below.
- M.Phil/PhD: Most of the colleges will be offering a doctoral program after the completion of the MBA program. The doctoral programs are helpful in broadening your knowledge horizon in the field.
- Executive Education: The Executive Education program is for managers and executives who are already in the role of an organization in posts such as managers and executives. The programs are immensely helpful for such practising managers as they get to hone their skills, stay updated with the latest in business trends and latch upon emerging opportunities. The Management Development Program (MDP) is one such program.
Also, check “What After MBA?”
MBA Business Forecasting FAQs
Ques. What is the duration of the MBA Business Forecasting course?
Ans. The duration of the MBA Business Forecasting course is 2 years.
Ques. What is the minimum educational qualification required for admission to the MBA Business Forecasting course?
Ans. The minimum criterion required for the MBA Business Forecasting course is a bachelor's degree from a recognized university, preferably in the disciplines economics, statistics, mathematics or engineering.
Ques. Are there any entrance tests for the MBA Business Forecasting course?
Ans. Yes, there are many entrance exams that are conducted for joining the MBA Business Forecasting course. Some of these popular entrance exams are CAT/XAT/MAT/CMAT.
Ques. What is the procedure for admission to the MBA Business Forecasting course?
Ans. For admission to the MBA Business Forecasting course, most of the colleges admit students based on the student’s performance in an entrance test followed by an interview.
Ques. Are there any distance-learning programs for the MBA Business Forecasting course?
Ans. The Indian Institute of Management Ahmedabad offers an e-learning program that is available in the distance-learning mode.
Ques. What is the average fee for pursuing the MBA Business Forecasting course in Indian universities and colleges?
Ans. The average fee for this course ranges from INR 1,22,250 – 15,72,800 depending upon the college or university.
Ques. Which are the sectors, where I can seek jobs after doing the MBA Business Forecasting course?
Ans. Some of the sectors in this field are banking, financial services, equity research, insurance, retail, marketing and so on.
Ques. Which are some of the companies, where I may get a job?
Ans. A few of the companies in this field are Karvy, Amazon, Flipkart, Adama India Pvt Ltd, Saras Analytics LLC, Merilytics, Licious, etc.
Ques. What are the opportunities for higher education after completing the MBA Business Forecasting course?
Ans. After completing the MBA Business Forecasting course you can pursue M.Phil/PhD or Executive Programs in a relevant discipline pertaining to your field of study.
Ques. What are the average salary packages offered after completion of the MBA Business Forecasting course?
Ans. The average salaries offered after completion of this course range from INR 4,32,000 to INR 23,75,000.