Data has become a crucial metric that defines an organization’s performance. It helps businesses understand their customers, better advertising strategies, and provide an overall improved customer experience. The field of data analytics has a broad scope that includes many different goals and techniques. Data analytics refers to analyzing raw data to find trends and make conclusions about those trends in the simplest terms. Such conclusions are useful for optimizing processes to enhance the efficiency of the business or organization. Consequently, almost every organization out there is recruiting data analysts to keep up with the humongous amount of data being generated every second and to wring actionable insights out of them. No doubt, the data analyst career path is something worth talking about.
So, if you have been asking yourself, “Is data analytics a good career?” then here is a comprehensive guide on the data analytics career path, what data analysts do, and the data analyst career progression.
Table of Contents
- 12 Reasons Why Big Data Analytics is a Good Career
- Opportunities for a Data Analyst
- Skills Required to Become a Data Analyst
- FAQs – Frequently Asked Questions
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12 Reasons Why Big Data Analytics is a Good Career
“Is Data Analytics a good career?” If this is something that you have been asking about, then you will get your answers here. The data analytics career is unarguably one of the hottest options in the contemporary job market. But, what makes it dominate all other software jobs? Here are 12 reasons that dig deeper and offer a bigger picture of what makes the data analytics career one of the most sought after around the world.
1. There is a worldwide boom in data generation
The most obvious reason for considering a career in analytics is the colossal amount of data being generated every minute. This huge supply of data is crucial for companies for discovering new market opportunities and boosting efficiencies. As per Statista, the 2020 projection for worldwide data creation was 59 zettabytes with a promise to increase further in future. Among the major contributors to data traffic is the internet of things (IoT), and the figures are proof enough of that. In 2019, global IoT connections created a data volume that reached 13.6 zettabytes, and the number is forecasted to go up to 79 zettabytes by 2025 (Source).
2. The world is moving towards innovation and digital transformation
Another thing to consider while talking about the potential of a data analytics career path is the fact that we are moving towards a future driven by digital transformation and innovation. In fact, those are two key factors that influence investment in artificial intelligence and big data technologies. According to a survey, there has been a 52.5% adoption rate of big data technologies by global organizations as of 2019 with a further 38% holding the promise of using such technologies in the future (Source). Among all the organizational data use cases, data warehouse optimization and forecasting have been found to be the most crucial along with customer analysis and predictive maintenance.
3. Getting started with the Data Analyst career path is easy
If you have a natural acumen for asking questions and finding solutions, a career in analytics is just for you. Regardless of your academic and professional background, you can easily kick-start your data analyst career if you have the relevant skills. There are several online materials and courses available; and signing up for these will broaden your big data skills by imparting knowledge of basic programming as well as tools like R, Apache Spark and Hadoop.
4. Large scale adoption of big data by enterprises
It is becoming impossible for companies to ignore the massive business impact of big data analytics. With millions of users generating new sets of data every second, there is an ever-growing need to make sense of the truckloads of information. Hence, companies are desperate to hire experts with data analysis skills. With a subsequent rise in cloud storage and machine-generated data, Statista estimates that the Hadoop and big data market will grow to $99.3 billion in 2022 from a $17.1 billion market of 2017 (Source).
5. Analytics professionals are in high demand
According to a survey carried out by Analytics Insight, the world will see around 3,037,809 data science job openings by 2021(Source). Further, while the COVID-19 pandemic and the parallel economic downturn adversely affected most other tech job profiles, the data science industry made it out of the mess with way fewer salary cuts and lay-offs. The capturing and interpretation of data has radical effects on any organization. Thus, there is a huge demand for data analysts who can help transform business trajectories. The scope of professional opportunities is guaranteed to rise further in the future; at a time when almost every organization out there is looking to tap the power of big data analytics, a data analyst career path indeed looks promising!
6. Big data analytics is used across various sectors
Big data analytics finds application across a wide range of industries and sectors. If you are looking to kick-start your data analyst career path, there can be no better time than now. From customer service chatbots and Netflix movie recommendations to automated fashion tips on e-commerce apps, big data analytics is everywhere! If you are passionate about exploring your big data skills and building your data analyst career, there are several industries that hire big data experts. These include the banking, financial services and insurance sector, media and entertainment, healthcare, retail, telecommunications and the automotive industry.
7. Ample opportunities to work with elite brands
One of the best aspects of the data analyst career path is that you get opportunities to work with some of the big shots of the industry. When it comes to major providers of big data analytics software, some of the top names are global brands such as Microsoft, Oracle, IBM and SAP. Here is a sector-wise breakdown showing some of the premier companies and organizations that are hiring professionals with the relevant data science skills:
- Banking, Financial Services, and Insurance: HDFC, HSBC, JPMorgan Chase, ICICI Bank, BNP Paribas, Citi Group
- Healthcare: Sanofi, GE Healthcare, GSK
- Media and Entertainment: Netflix, Fox, Time Warner, Buzzfeed, Viacom, Dish Network, NDTV
- Retail: Amazon, Walmart, Flipkart, Reliance Retail Ltd., Future Enterprises Ltd., Landmark Group, ITC
- Telecommunications: Reliance Jio, Bharti Airtel Limited, Vodafone-IDEA, BSNL
- Automotive Industry: Volkswagen, Honda, Hyundai, Maruti Suzuki, General Motors
8. A range of job profiles to choose from
Both in terms of job titles and domains, the data analytics career path offers plenty of options. In line with the big data needs in different organizations, you can choose either of the following types of data analytics:
- Predictive Analytics
- Prescriptive Analytics
- Descriptive Analytics
When it comes to different job titles in data analytics and its related domains, you have a wide range of options to choose from. Some of them are:
- Big Data Analyst
- Big Data Analytics Architect
- Big data Analytics Business Consultant
- Big Data Engineer
- Big Data Solution Architect
- Analytics Associate
- Metrics and Analytics Specialist
- Business Intelligence and Analytics Consultant
9. Low supply of the right talent and skillset
Most of the big data jobs demand candidates with advanced degrees as well as the relevant experience. Around 81% of all the data science and analytics jobs require candidates to have at least three years of work experience with some of the highest-paying jobs requiring a relevant master’s or higher educational degree (Source). However, such candidates are not easy to find in the fast-growing field of data analytics. Therefore, even though there is an exponential growth in demand for analytics professionals, there exists a huge shortage of skills as far as the talent supply side is concerned. Despite big data analytics being a “hot” career option globally, a lot of job positions remain vacant due to a deficit of required skills. So, if you have the relevant skills and qualifications, this is the best time to think about your data analyst career progression.
10. Alluring salary packages
A lucrative aspect of a data analytics career is the salary growth associated with it. Salary packages for big data jobs are increasing at par with the demand for data analyst professionals. As per a study by the IT jobs site Robert Half Technology, most of the big data jobs offer salaries and additional compensations well into the six-figure range that are way above the market pay. Further, since data analytics professionals with the requisite skills are hard to find, you can expect a pretty good paycheck if you have the right knowledge and expertise. With the supply of talent running low like we previously said, salary packages are bound to remain alluring for deserving candidates. Shifting to a data analytics career has monetary benefits that are way greater than that of other IT jobs.
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11. Data analysts are one of the key decision-makers
Data analytics is one of the chief competitive resources in any organization. It adds value to the organization, helping it to make informed business decisions and providing an edge over market competitors. Hence, a career in analytics is bound to guarantee you the role of one of the key decision-makers in the organization. As more and more companies are relying on big data analysts, a data analyst career path will give you ample opportunities to work with the key persons of the organization. You will become a part of the streamlined decision-making process as well as collaborate with local levels for acting on insights.
12. A chance to up-skill and grow
Data analysts get opportunities to use their skills across multiple work areas, including sales, finance, data assurance, business intelligence and marketing. In the process, they can enhance their data analytics knowledge through the acquisition of skills in data infrastructure, data mining, decisions analysis and data visualization. Further, a career in analytics entails working with different languages and frameworks. Besides programming abilities, the data analyst career path also requires quantitative and advanced statistical skills. Moreover, digitization trends offer abundant growth opportunities for data analysts, both beginners and professionals. In fact, a career in analytics will not limit you to a specific field; if you have the appropriate set of technical skills, the data analytics career path will let you shift easily and grow with the industries that are best aligned with your interests.
Opportunities for a Data Analyst
If you want to know what data analysts do, it becomes imperative to talk about the different data analyst career paths that are available. We have already mentioned a few job titles related to this field in the previous section. But, let’s look at some more job titles that you will come across in your data analytics career path:
- Data Architect
- Data Scientist
- Data Warehouse Manager
- Database Manager
- Database Developers
- Data Modeller
Further, present times have seen the emergence of several specialized fields in data analytics that promise as much potential as the conventional job titles. Some of the new data analyst careers that are worth a specialization include:
- Data Analytics Consultant: This job title involves specializing in key research areas and working with different organizations for specific periods. The consultants provide actionable insights for use in the company’s operations.
- Quantitative Analyst: These analysts develop models for predicting exchange rates and stock prices, playing a significant role in identifying prospective financial investment opportunities and related risk management.
- Healthcare Data Analyst: By using data analytics to improve medical care in hospitals, healthcare data analysis is all about applying data analysis in the field of healthcare.
The above lists are not exhaustive; with the right skills, there are many more opportunities for data analysts worldwide.
Skills Required to Become a Data Analyst
Another important aspect of the data analyst career path is, knowing the skills required to become one. The field is constantly evolving, and there seems to be no consensus among recruiters regarding a definite skill set. However, we have listed here the top in-demand skills that you cannot overlook at any cost. These include:
- Math skills: If you want to make a successful career in analytics, you cannot afford to forget some fundamental mathematical skills. Working in the big data analytics field requires a concrete foundation of the following mathematical concepts – probability, statistics, linear algebra, and multivariate calculus.
- Business sense: Without business acumen and sound communication skills, there is no way that a data analyst will understand business problems and come up with solutions to minimize costs, maximize efficiency and tap new revenue opportunities.
- Programming skills: The golden standard for this field is Python along with R, SQL and SAS.
- Knowledge of analytical tools: Data processing and analysis cannot progress without analytical tools like Spark, SQL and Hadoop.
- Machine learning: Not all job roles, but most data analyst jobs will require you to learn machine learning skills sooner or later, especially if you’re working with big data.
- Data visualization: Data analysis makes no sense if people can’t see the results. Hence, knowledge of data visualization tools such as Power BI, Ggplot, Matplotlib, Tableau and D3.js is essential.
- Data wrangling skills: This skill will help you clean messy data and address issues of data imperfections.
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Big data analytics is a rapidly growing field with compelling opportunities for professionals across a wide range of industries. With the present skyrocketing demand for skilled big data professionals, there can be no better time to enter the big data job market. If you’re confident that the data analytics career is perfect for you, you need to get started and prepare yourself to land one of the many data analyst job titles that are much sought-after. Most importantly, it would help if you focused on the skills and experience you’d need to add an extra edge to your resume.
FAQs – Frequently Asked Questions
1. Is Data Analytics in demand?
At present, the demand for skilled data analysts exceeds the supply. In a 2018 report, the World Economic Forum predicted that 85% of the companies would be using big data analytics by 2022 (Source). Considering trends, it is surely going to be in demand for some time now.
2. Is Data Analytics the future?
Data analytics has already begun to have a profound impact on our daily life. Data analytics enables better decision making which in turn produces better results. It is not wrong to say that we are looking at a future that is “data-driven” and that will make a huge impact on the way we live and do business.
3. Is being a Data Analyst hard?
Being a data analyst is not hard. If you have the relevant skills and the acumen to solve problems, then a career in analytics can be gratifying.
4. What kind of jobs can you get with a Data Analytics degree?
A data analytics degree qualifies you for several job roles. Some of them are – business analysts, data scientists, quantitative analysts, data architects, and data warehouse managers.
Want to learn more about how we can help you in your career in analytics? Then, do drop in your queries and opinions in the comments below!
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