Hi Prashanth,

I too studied Mechanical Engineering only to come out of school and switch into IT consulting.  My role included some coding as well as a good deal of business analysis.  

The field of business analysis is a good one.  Can anyone do it? Yes and no.  You don't need a specific background to be a good business analyst, but those who have engineering, computer science, and mathematics degrees on average are probably more likely to do well.   These aren't the only degrees that serve someone well in the field, so I don't me to leave anyone out.  But people with these degrees tend to be very logical and structured thinkers with excellent problem solving skills.  At the same time, not everyone makes a really top not business analyst.  But if you have an inquisitive nature, and being and engineer you probably do, then you will likely do very well.

You mentioned this role would be in the field of analytics.  That's broad, but if you do go into business analysis that's probably where it would make the most sense for you to focus.  Business analysis is a growing industry, especially in the field of Predictive Analytics and Data Mining.  It will take advantage of all of the math skills you have developed from your engineering studies and keep your skills sharp.  Analytics can also be a more specialized and rewarding skill set since many don't have the math background required to do the job well.  Look up other job descriptions on job boards for Data Analytics, Data Mining, Predictive Analytics, etc.  This will give you an idea of what's out there.