Dear Samir,

1. Is what I am looking to specialize in too niche? would this weaken my application?
I do not think your goal of being in a job requiring lots of data analysis is too niche, but I do think it is important for you to have an idea of where these jobs are. While some consultants might do this type of analysis, it is not something to necessarily expect on every engagement or that consulting firms have consultants who only do this type of work. I think your focus is a positive as long as you can identify specific industries and/or companies where those opportunities are.

2. Do I need to have some other core skills for example in finance/marketing and do I need expertise in any industry to be able to do what I want to do?
Data analysis is prevalent in companies with a large marketing function. Consumer goods companies and marketing research firms, in particular, have jobs that entail much of what you are looking to do. There could also be strong analytical jobs in many financial services firms. I don't think it is important to have experience in these industries to obtain employment in them post-MBA. A solid business foundation will be expected though as well as strong electives in marketing research and data analysis.

3. Are there any Universities that you suggest I apply to?
I would like for programs that have ties to the industries and/or companies you identify in your research.

4. In the current economic scenario, how risky is it to apply for fall 2010 to colleges in the US(in terms of return on investment)?
Only you can determine if you feel the ROI is there for you. In good markets and bad, MBAs have always found work--sometimes it might take longer than expected or the type of work sought changed to meet market demand. Remember, those entering in fall 2010 will see a different job market in spring 2012 when they graduate, so it is difficult to predict what opportunities will look like.

5. What are my chances of getting aid of some kind in a top 20 college and other colleges?
It is not something you should expect, but it is a possibility. Schools with smaller applicant pools will generally be your best chance at obtaining a scholarship award.

Good luck,
Lisa