April 22nd 2018

Careers in Analytics – Introduction

It is the technology to collect and analyze the data and convert it into useful information. Analyzing the data would help us to predict the future for betterment and enable to take decisions.

Storing processing and analyzing the data would help us to design the stronger foundation of future work based on previous data record. Using the data analytics, traffic Police can design the road size expansion requirement by collecting and analyzing the traffic data.

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Education Required to Build Careers in Analytics

Before becoming the Data Analyst following skills should be mastered by the candidate to get success in the field of Careers in Analytics.

Excel: This is the most basic tool for data analysis. it makes easy to explore, clean & analyze the data using built-in like pivot tables. Excel is the most used tool. Excel is preferred by all because of its calculations and its number of formulas.

Tableau: Tableau provides you choices to choose correct chart for correct data re-presentation cause it’s not possible to read all the data with Pie chart or Bar Chart. Being a data analyst, one should have a proper understanding how to represent the data, reason why knowledge of Tableau will help you to stand firmly in Data Analytics work.

SQL Knowledge: Being a master in Excel only won’t help you a lot to build a successful Careers in Analytics but knowledge of SQL will be an add-on in your data analytics carrier. SQL doesn’t have any limitation but Excel is having many limitations.

Since today’s data is present in data warehouses, DBs & Big Data, to access and sorting out this messy data we should be aware of any query language and SQL is best among all for data analytics kind of job. SQL is just to get into Data Analytic.

Certifications: Following are the certifications that will help you to acquire the data analytics knowledge.

Certificate in Engineering Excellence Big Data Analytics and Optimization (CPEE).
Cloudera Certified Associate (CCA) Data Analyst.
Certification of Professional Achievement in Data Sciences.

Career Path in Analytics

Future of Data analytics is bright and playing important role in everyday life & businesses and constantly evolving. Careers in Analytics is changing the professional world.

Following are the two major career paths for a Data Analytic:

Internet of Things (IoT): IOT simply interconnect all the devices using the network connection and make them communicate or data transfer within the devices such as computing device, mechanical machines digital machines can communicate with each other using IOT and this communication is analysis by Data Analytic.
All the Home devices can interconnect with each other work in sequence to get the work done. Data Analytics collect the data and put together to analyze it. Using the data analytics will help to improve the functioning of the devices.

Artificial Intelligence (AI): The main use of AI is to create machines that can respond itself. Data analytics play an important role here. Based on the data analyzed by a data Analytics AI machines are designed.

Apple’s Siri is the best example of AI. Siri works on the input data and responded as per questions or requests. Siri itself analyze the data and decides what to respond and when to respond.

Job Positions

Job Position of Data Analyst starts from Data Analyst and can reach to the Top management as VP of Analytics.

Following are the Common designations and Roles of a Data Analyst in the organizations:

Data Analyst: This is the starting position in the organization, Data Analyst can be designated as Business Analyst. They are more concerned with the business model on which project company Should invest more, in project A or project B?

Sr. Data Analyst: Sr. Data Analyst filter out the data provided by the data analyst and sends the reports to the Head of Data Analyst. The Sr. Data Analyst create solutions for business through the constant change in the intelligence modal of the existing business. The Sr. Data Analyst codes, designs, debugs, documents, and provide supports on server-based applications with business requirements.

Head of Data Analyst: Head of Data Analyst manages a team of data analysts that use statistical methods to provide suggest area and methods of improving business performance.

Head of Data Analyst applies analytical approaches to assists in the business growth results & also provides market data for business comparison purposes.

Create Reports & Presentation to the management for use in strategic planning & decision making.

To become the Head of Analytics, it requires 7 years of experience in the same field and a bachelor’s degree.

Since Head will report to unit/department head so it requires a lot of creativity and presentation skills.

VP of Data Analytics: VP works for an organization in the area of analyzing the market segments which are related to their organization. They provide an opportunity for strategic planning & alliances. Their main work is to develop a new area of work for their field. Their strategic planning and analytical approach always focus to achieve their organizational goals.

Salary (data & figures)

The average salary is $65,470 for a Data Analyst in The United States.

As per details submitted on Glassdoor, A data analyst can have $46 K Minimum salary while the average salary in The United States for a Data Analyst is $65 K.

Many organizations are spending a huge amount on Data Analyst employees ranging between $80 K to $95 K.

Above salary, estimation is based on 13,063 Salaries submitted to Glassdoor by Data Analysts of various organizations.

Career Outlook

Deloitte’s Analytic Trends 2016 report stated that there is a rising number of analytic university and data science programs (around 100 just in the US.), Still, they can’t crank out enough sufficiently trained people to meet up the demand.

As per Europe Software , The Western Europe BDA Software market reached to $12.2 billion in 2016 and expected to grow with a 5 years CAGR 0f 7.9%.

Revenue trend from data analytics worldwide from 2015 to 2020 (in billion U.S. dollars)

Philip Carnelley a research director at Enterprise Software, IDC Europe said that Western European business analytics software market grew 9.7% in 2015 and reached $11.3 billion. It’s expected to grow at a CAGR of 5.8% by the end of 2020.

Careers in Analytics