Data

Top 5 Reasons Why You Should Choose Data Analytics as a Career

In 2015, International Data Corporation (IDC) predicted that by 2020 we will have generated 40 Zettabytes of data and we somehow managed to generate 64.2 Zettabytes at the end of 2020. The prediction for data volumes by 2025 is 180 Zettabytes. But we are pretty sure to surpass the prediction yet again.

So in a world where we are producing data at a rate that is much faster than our own expectations and organizations around the world are on the lookout for people with the right skills to manage and process this data, Data analytics is the epicenter of the conversation.

It is without a doubt, one of the hottest skills to master at this point.

Companies around the world are either heavily invested or are planning to invest millions of dollars into data processing architecture and a major part of that budget is allocated to acquiring skilled Data analysts. Data analysts can solve all matters related to data and can even process this data to mine valuable insights that help the organization in making crucial decisions.

Data analyst

A career in Data analytics packs several interesting opportunities for you along with a very bright future outlook because data is not going anywhere. So here are 5 reasons why you should choose Data analytics as a career.

5 Reasons to Choose Data Analytics as a Career Path

1. Demand is off the charts

In the past, we used to generate simple data and the processing of data was simple as well. Just a few excel sheets and all your data was structured. You could easily process the data using the in-built functions and tools available in Excel. But after the advent of the internet, everything changed. The complexity and the volume of data being produced increased exponentially and this data could no longer be managed using excel sheets

So we as human beings did what we do best, we adapted to this change. We created powerful data processing tools and techniques to help us subdue this unstructured ocean of data. The entire process of structuring the data and processing it to draw insights was termed Data analytics. 

Data analyst job postings

And this process exploded in popularity after companies found out that the vast ocean of data could help them make 60% better and more accurate decisions than their competitors and suddenly the demand for data analysts was off the charts.

And the uptrend is still intact. In fact, the demand is rising exponentially and it is not showing any signs of slowing down. The demand for Data analysts in India was over 1,90,000 in 2017, which was significantly higher than engineers, doctors or, CAs.This is one of the major reasons why you should choose data analytics as a career. Even in The United States, there’s a shortage of skilled Data analysts. There are at least 100,000 more data analysts needed to fulfill the demand and tackle the huge amounts of data being produced and stored.

The Big data analytics sector is expected to grow to 33% of the IT sector from the current 10%. That means data analytics is going to be at least 3 times bigger than it already is.

2. Higher Payscale

Data analysts are hugely in-demand and the supply is low which is a testament to the fact that Data analysts are handsomely paid. The average salary of a Data analyst here in India is around Rs. 5 lakhs per annum which is almost 30% higher than an entry-level software engineer. The average salary of Data analysts in the USA is $64,783 per annum with a cash bonus of $2,500.

Also, according to The Indian Analytics Salary Trend Report published by the Great Lakes Institute of Management, the average salary of analysts increased by more than 20% in 2015 YOY. 

5 reasons why you should choose data analytics as a career

Randstad one of the best placement companies in India revealed that that the annual pay hikes for Analytics professionals in India is 50% more than IT professionals. There’s also a pay disparity between data-based occupations and IT jobs after an individual has gained significant experience.

The average salary for a Data Scientist in the US is $ 1,30,000. Clearly, it is well above the average salary of a software engineer that falls somewhere around $1,11,000. 

3. Amazing Growth Opportunities

As a Data analyst, you will always be in demand across all domains and sectors. So as you gain experience and polish your existing skills, the higher roles are easier to grab. Because there is a shortage of data analysts at a base level. So gaining some experience makes you even more valuable. 

Growth opportunities as a data analyst

You can climb the hierarchical structure of data analytics fast because of the scarcity of experienced data analysts. The higher roles to target as a data analyst are Senior-analyst, Analytics manager, Director of analytics, or chief data officer.

You can even become a Data scientist after gaining 7-8 years of experience as a data analyst and adding some more skills to your portfolio. Data Scientists are currently one of the highest-paid professions. 

4. Opportunities Across all Domains and Sectors

Multiple domains employ data analytics all thanks to its powerful features and varied utility. You can choose to work in any industry that you have prior inclinations with. Data analytics lets you utilize your prior interests to build a career in your preferred domain.

Data analytics is widely used in sectors like Finance, Healthcare, Consumer Goods, Energy generation and distribution, manufacturing, technology, agriculture, and banking. Banks use data analytics to monitor the account activity of customers to figure out potential risks. And also analyze the geographical activity of customers to determine new branch locations.

Data analytics across various sectors

If you are interested in the finance sector you can also read our article on Data Analytics for Finance professionals.

Ever wondered how doctors read your blood sugar level and confidently claim that it’s high, low, or normal. This is all possible due to the huge amounts of data collected and analyzed to identify normal blood sugar levels. The Tech sector uses data in every imaginable way, data is one of the central pillars in their operation.

Healthcare and technology are among the highest employers of Data analysts. These facts underscore one point pretty clearly. As a data analyst, you will do what you like to do, not what you are obligated to do.

5. Makes you a Part of Something Big

As a data analyst, you are always in and around Big data. And historically speaking big data has revolutionized the way we do things. A few years ago, companies had to visit doorsteps to find potential customers and now companies already have the contact details of potential customers even before the product reaches the manufacturing stage

Talk about buying a car with your friends and all you will see are car ads once you are on social media. These are all aftermaths of the data revolution. The world has recognized that Data is the new king. Therefore, the ones who can successfully harness this data will share the throne with it.

So being in the Big data revolution as a Data analyst makes you a part of something that is bigger than just a 9 to 5 job. It allows you to play a pivotal role in this process that will reshape the way we make decisions, advertise products and services, and conduct business overall. You are one of those who are helping develop a tool that will be able to answer all our questions.

We hope that we were able to convince you of the potential of Data analytics as a career choice after going through this article on 5 Reasons Why You Should Choose Data Analytics as a Career Choice. 

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button