At the time of writing, the global economy is shooting downwards as the impact of COVID-19 spreads across the world. Around 1.2 million cases and over 60,000 deaths in 192 countries has put global businesses in a tough spot. Countries are going into lockdowns and people are resorting to social-isolation in the hope that the human-contact chain breaks somehow, and the spread of novel coronavirus slows down.
The Economic Impact
The COVID-19 that emerged in Hubei, China has already slowed down China’s GDP growth to approximate 5.4% in 2020. This will affect all other global markets, especially those that have high dependencies on China. The consequences of the novel coronavirus is not just emotional and social, but also economical. For instance, research shows that the tech shipment industry will see larger impacts by the end of Q1, 2020. [numbers in millions]
There is no denial that recession is here and it is not going away in a jiffy. Every time a global crisis arises, businesses are forced to change their mode of conducts as applicable during that time. This time is no different. Companies have shut down their physical offices and have encouraged employees to work from home. The traditional conduct of business is undergoing a massive change, and soon virtual working will become the norm.
Change in job scenario is inevitable
WHO declared the COVID-19 [SARS-CoV-2] as a pandemic, urging people to stay at home at all possibilities. The world is still struggling to combat this deadly disease and companies across the globe are dealing with severe recessions. It is pretty obvious that job scenarios will alter drastically. As millions of people are standing at the edge of losing their jobs owing to the changes in the business environment, the silver lining is that new roles are also cropping up.
Understanding Business Analytics in the ‘Quarantine’ time
The sharp recession in business will force companies to cut down their resources. Owing to low demands from consumers (because consumers are not willing to spend at this moment), businesses will need sharper minds to get their ships sailing in the near future.
You can be the ‘mind’ they’ll need.
Understanding business analytics and being a pro in data science is the need of the hour. While you post updates on your social media profiles with hashtags #stayathome, why not utilize the quarantine period to get ready for the upcoming battle. Your sharp eye to understanding business numbers, analysing consumer demands, and bringing the demand-supply chain on track is what businesses will need very very soon.
Instead of joining the panic, enrol in a business analytics course or learn Python for Data Science. Adding competency can never go in vain, should you know where to start and why.
I know things are not rosy outside but the quarantine period is in a way boon for you to get ready for what’s coming next. A shift in the job market is not scary if you have the right skill sets under your belt.
Now, I am not throwing arrows in the dark. Why look for scattered options when you can have all the learning resources in one place. AnalytixLabs has courses for beginners as well as advanced learners. Whether you are looking for business analytics courses, applied AI courses or data analytics courses, we’ve got you covered from start to finish. 🙂
Courses to explore and start learning:
- Business Analytics 360
- Data Science and Machine Learning with Python
- Applied AI and Machine Learning Specialization
- Analytics Edge with R, Excel and Tableau
- AI and Deep Learning with Python
Learning is one part of the journey. The second and most important part comes to choosing the right kind of job profile. Here are some job profiles that you can apply after finishing your courses.
- Business Analytics:
If you’re wondering about ‘knowing to code’, let me tell you – you need not be a coding genius to apply for a business analyst role but a minimal knowledge of tools like R, SQL, SAS will help you shape your career as an analyst. Know everything about business analytics in The ABC of business analytics. Job roles you can explore:
Business Analyst, Data Scientist, Data Architect, Quantitative Analyst, Financial Analyst, Business Operations Analyst, Market Research Analyst, Management Analysts, Program and Marketing Managers.
- Data Analytics:
To clear all your doubts, read our take on why data analytics is one of the most promising sectors today.
Job roles you can explore:
Data Analyst Consultant, Data Engineer, Healthcare Data Analyst, Operations Analyst, Digital Marketing Manager, IT system Analyst, Data Developer.
- Python for Data Science:
Python is regarded as one of the most preferred languages for data science. Python focuses on readability which Java and C doesn’t. It supports object oriented programming as well as structured programming. Hence, learning Python will take you a long way in your Data Science career. Job roles you can explore:
Machine learner engineer, Data Architect, Statistician, Business Analyst, Database Administrator, Data Engineers.
To know more, read our article on Why you should choose python data Science Course.
If you complete all of it,I’d say you have just outperformed yourself. You can look to apply for Data Engineers or Analytics Lead in various companies.
Resources to get started:
- Data Science can be for everyone.
- Why does learning Python help?
- Why are analytics skills highly sought after?
In conclusion, I’d say this is the best time to start learning and make the most of the quarantine period. Meanwhile, do stay home and stay safe. Let’s fight the COVID-19 crisis while learning and growing professionally as well.