Hi singhalyash,
First off, a 710/Q50 is an outstanding Score, so you can comfortably apply to any Business Schools that interest you. As such, a retest might not be necessary. Depending on the Programs that you are interested in, you would likely find it beneficial to speak with an Admissions Expert about your overall profile and plans. Those Experts should be able to answer your Admissions questions and help define the specific areas of your profile that could use some improvement (and the more time that you have to act on that advice, the better). There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/There's certainly no harm in retesting, but before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
1) On what dates did you take your 2 Official GMATs?
2) How long did you study before each attempt? For this 2nd attempt, how many hours did you typically study each week?
3) What study materials have you used over the course of ALL of your studies? What “brands” of CATs/mocks have you used?
4) On what dates (or approximate dates) did you take EACH of your CATs/mocks and how did you score on EACH (including the Quant and Verbal Scaled Scores for EACH)?
5) When are you planning to apply to Business School and what Schools are you planning to apply to?
If you took either of your Official GMATs at a Test Center, then you might also choose to purchase the Enhanced Score Report. While the ESR doesn’t provide a lot of information, there are usually a few data points that we can use to define what went wrong on Test Day (and what you should work on to score higher). If you purchase the ESR, then I'll be happy to analyze it for you.
GMAT assassins aren't born, they're made,
Rich
Contact Rich at: Rich.C@empowergmat.com