With over 5 quintillion bytes of data produced over the internet every day, the opportunities for a data analyst are immense.
Businesses and organizations are rapidly changing and therefore, their requirements are changing at a similar pace. And one of the integral aspects of this change is the need to process the immeasurable amounts of data collected across streams and integrate the generated insights into their decision-making.
And this is the exact same thing that a data analyst does, a data analyst churns out valuable information from a chunk of data and communicates it with the stakeholders of an organization, so that they can make their decisions better.
Consequently, it is safe to assume that a plethora of opportunities are present in the industry for data analysts, you just need the hook of skills to reel in the role that suits you the best and make a career out of it.
So let’s look at the facts that make data analytics such a promising career.
5 Reasons to Choose Data Analytics as a Career
In 2017, IBM predicted that the jobs in this sector will increase by more than 15% in the US by the end of 2020. But it seems that was an underestimate.
Job creation and new responsibilities in the sector have been unprecedented and the main reason is the abundance of data. The demand for data analysts will grow as the amount of data being collected will increase. Because data analysts use data to enhance processes and improve profits in an organization.
- The Industry is expanding by 7% every year that directly translates to more opportunities and job security in the future.
- Data analysts enjoy exposure to a lot of different technologies ranging from Python, R-programming to cloud computing. This allows them to be flexible at work.
- Data analytics provides a very diversified portfolio of jobs. So data analysts can work across sectors depending on their area of expertise.
- The skillset of Data Analysts aligns with a lot of different career paths, you can choose from a variety of profiles including data engineer, data scientist, database developer, or data architect.
- As you progress in your career, you will be exposed to a lot of different opportunities. And this makes data analyst very stable as a career.
Evidently, there are a lot of reasons to choose Data analytics as a career option and almost zero reasons to not consider it. Weight your options, but we can tell that the scale is tipping towards one end.
The Current Scenario
The current scenario of the data analytics game is very strong. The adoption across enterprises went from 17% in 2015 to 59% in 2018 according to a study by Dresner advisory services.
And the adoption is not confined to any particular sector, organisations across sectors like telecommunication, insurance, advertising, financial services, advertising, healthcare, R&D, and technology are actively making efforts to collect more data and transition into data-drivenness.
In the past, data analytics was used to support critical decisions in an organization and at present data analytics is used to improve the quality of decisions made in an organization.
The progress is evident and the role of data analytics is only going to increase as we move further ahead in time.
The above facts underscore the value of data analytics. Data analytics is a critical component of business performance and is the undeniable truth of the digital era. Organizations that fail to harness the power of data by making data-driven decisions will perish in an environment where data leads the lane to success.
Skills Required to be a Data Analyst
But before we get into the details. There is yet another question that needs to be answered.
Can anyone be a data analyst?
And the answer is a YES!
Anyone who has an inclination towards data analytics can become a data analyst. Although this line of work favors those with an analytical and mathematical mindset. It is not something you cannot do without. You can develop these skills through practice and perseverance.
With consistent practice and hard work, these skills can easily be learned. Therefore, bringing data analytics under your ambit to pursue it as a career.
And now that we have proved that anyone can pursue data analytics as a career beyond a reasonable doubt. Let us discuss what are the skills you need to add to your resume to become a data analyst.
- To manage small datasets in the workspace MS excel is a must-have skill as a data analyst, as other complex tools may overcomplicate the processing of data.
- Creating and managing databases is an integral part of a data analyst’s job. So SQL is an indispensable tool for a data analyst.
- Visualization of data is paramount for gaining insights from data. So, a data analyst must have command over data visualization tools like Power BI or Tableau.
- As a data analyst, the first part of your job is to draw insights from data. The second part of your job is to communicate these insights with the concerned executives. Therefore, good communication and presentation skills are must-have skills. There’s no point in drawing value from data if you cannot communicate the results with the stakeholders.
- As a data analyst, you shall pick duties in your domain of expertise be it finance, sales, technology, economics, or any other specialization. So you should have a thorough knowledge of your domain as a data analyst. And if by any chance your area of expertise is finance, we recommend you read our article on Data analytics for finance professionals.
- Mathematics and statistics are widely used across domains in data analytics and therefore, maths and statistics are must-have skills.
- Programming is not a prerequisite for data analytics. But it provides a competitive advantage over other applicants.
- Problem-solving is not a skill for a data analyst, it’s the core nature of the job. Data analysts have to come up with creative solutions for complex problems. So anyone that aspires to make a career must have good problem-solving skills.
Future of Data Analytics
Machines or computers cannot make decisions consciously. For example, a server is connected to the wrong network will ruin everything. Analyzing the system with proper checksums can help us reduce these inconsistencies. And only data analysts can help achieve this goal.
Machines and AI will analyze the data and process it to provide variable information and insights. But someone needs to consume these insights to help make critical decisions. Therefore, data analysts can never be replaced.
The entire scenario is based on the narrative that computers are not powerful enough to make decisions on their own but the computing power at our disposal doubles every 2 years, and in 15 years we will have computers that are 32000 times more powerful and if the power enables them to make decisions on their own then this narrative may be disposed and a new era of data analytics will be born.
But only time has the answer to the mystery of whether computers will take over the jobs of data analysts and we believe that computers may never be able to function independently without the supervision of a data expert.
Data analytics is the intersection of Information Technology, statistics, and business and it can help organizations to scale. data analytics is immortal as performance can be enhanced by finding patterns in data efficiently.
We hope that this article helped you in some way or the other by disposing of some of your doubts. And by offering you the clarity you needed to make a pivotal career choice.
If you have any other concerns regarding data analytics as a career path, feel free to ask in the comments section below. We are more than happy to demystify your brain of these doubts!