So you’re considering venturing into the world of big data but you aren’t sure of the benefits this career path has for you? Well, we can confirm from the outset that any job in big data comes with guaranteed job security, a sizeable salary, and excellent career prospects. Every company and industry today has tons of data to comb through, make sense of, and take advantage of, and they cannot do any of that without the help of a data analyst.
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What is the Work of a Data Analyst?
Corporate and governmental organizations collect and store tons of data every second. The data could be from any source, e.g. customer purchase/payment history from an eCommerce platform, online trends, or personal details from an online user portal. The main reason why organizations collect this data is to analyze it and draw out meaningful insights for the purposes of improving their bottom line and gaining a competitive edge. The job of a data analyst in any organization, therefore, is to comb through piles of raw data, draw useful insights, and then make actionable recommendations that corporate leaders use to make smarter business decisions.
In most organizations, job analysts are also tasked with the responsibility of:
- Creating and maintaining databases.
- Collecting & organizing raw data within the databases.
- Cleaning the raw data for a more specific and incisive analysis.
- Using data analysis tools and techniques to analyze large datasets statistically.
- Interpret scientific data into findings, recommendations, and strategies.
- Present the findings in a language that laymen can understand, e.g. using charts, graphs, and other visualizations.
Do You Have What It Takes To Become a Data Analyst?
Apart from salaries and other employee benefits, there are natural talents and intrinsic motivators that help professionals to succeed. For a data analyst to reach her/his peak potential and job satisfaction, the following qualities and motivators are necessary:
- The curiosity and inquisitiveness of a detective: The job requires you to dive deep into piles of raw data, swim around it, piece together scattered pockets of information, and do a lot of “detective work” within databases.
- The ability to understand business strategies: Businesses exist in the real world. They serve real people (clients, investors, employees, etc.) who have different interests and preferences. These interests define the business strategy of your employer. So, as you crunch numbers and analyze data, you must operate within the confines of your employer’s business strategy.
- The intuitive, and analytical thinking: The job requires you to not only crunch numbers but also identify patterns, draw conclusions, detect problems, and offer solutions all based on evidence and facts.
- The passion about numbers and statistics: Do you get Goosebumps at the sight of a spreadsheet? Are you excited by complex analysis? If yes, a career in data analytics is your right fit.
- The knack for interpreting, presenting, and explaining complex concepts and insights: Many people run for the hills when presented with bulky data and numbers. As their data expert, your employers bank on you to break down complex insights and share them in an accessible, comprehensible, concise, and user-friendly manner.
Why Big Data Analytics Is a Good Career?
1. Data analysts are among the most sought-after professionals
The job market for data analysts is gradually burgeoning and thriving, yet there aren’t enough qualified data analysts to satisfy the labor market. In the US alone, there are hundreds of thousands of data-related job openings at any given time. And because everyone now craves data-driven decision-making, it’s predictable that organizations will keep generating and gathering huge volumes of data into the foreseeable future. The high demand for data analysts will not drop any time soon.
High demand for professionals comes with a competitive salary and remuneration structure. This is the case for data analysts. Of course, salaries vary from one organization to another and from one job rank to another. However, the average base salary for data analysts in the US is significantly higher than the seasonally adjusted median annual earnings for American workers. Some data analysts have an average yearly salary of as high as $88,000 USD in 2022.
2. The job is extremely fulfilling
When professionals are scarce, employers fight hard to keep them happy and satisfied. Now that data collection, analysis, and implementation have become non-negotiable for businesses in today’s IT-powered business world, employers will keep holding big data analysts in high esteem.
Your employer will be depending on your expert analysis to:
- Develop and cultivate brand identity.
- Identify their ideal target audience.
- Tweak production for better user appeal.
- Design marketing and growth initiatives.
- Improve brand reach and profitability.
- Define KPIs for employees.
Bottom line: Your word will carry a lot of weight around the workplace, which will definitely give you immeasurable satisfaction. Besides, it is fulfilling to work in a highly stimulating environment where you decipher new data every day, explore multiple methodologies, develop business strategies, and make high-level recommendations.
3. The field is diverse and interesting
Upon qualifying as a data analyst, you can choose to venture into any specialty you want within the field of data analytics. There are plenty of job titles to pick from. Some of these titles include Junior Data Analyst, Marketing Analyst, Entry-Level Data Analyst, Operations Analyst, Associate Data Analyst, Operations Research Analyst, Logistics Analyst, Business Intelligence Analyst, etc. Each job title comes with its set of challenges and rewards, which injects some excitement into the industry. The diversity also gives you mobility within the industry and challenges you to always steer away from your comfort zone.
4. Freelancing is an option
Even if you weren’t keen on freelancing before, the prolonged pandemic must have opened your eyes to the limitations of the nine-to-five life. A career in data analytics allows you to choose the work arrangement you desire. If you want to work in an office and commit to one employer, this career path is right for you. If you wish to work remotely as a freelancer and sell your expertise to the highest bidder, this career path is good for you too. What’s even more exciting is that you’re not restricted to working in one sector because every sector needs data analytics. You could be working in the aviation sector this month, healthcare next month, and later in entertainment.
5. You can start your own data consultancy firm
Of all careers in the world, data analytics has to be the only one that gives professionals all the materials they need to start a thriving consultancy business. As a data analyst, your job is centered on conducting market research, developing business models, and setting up businesses for success. That means your ability to understand markets in different industries is impeccable. As such, a few years in the business are enough to give you a solid idea of what you need to do to start your own consultancy firm and bring in a steady line of clients.
6. You gain invaluable transferrable skills on the job
Some of these skills include:
- The ability to identify and effectively solve problems.
- The ability to process bulky information and draw the best imaginable conclusions.
- Math skills, including graph theory, numerical analysis, applied statistics, and linear algebra.
- Business management skills. You will be advising business leaders on how to frame their marketing campaigns and sales pitch. Businesses will seek your expert opinion when doing mergers and acquisitions. You get to sit at tables where serious business decisions are made, and that makes you a business leader in your own right.
- The ability to communicate effectively. You will pick up this skill as you explain your findings and projections to business stakeholders.
- Data visualization and analytical skills. These will make it easy for you to venture into digital marketing.
- The ability to make bold and important decisions, sometimes under immense pressure.
- Programming skills, e.g. Python, which you can use in web design and video game programming.
- Microsoft Excel skills.
7. It’s easy to start out on the Data Analytics career path
For a career path as rewarding as big data analytics, the bar for entry is pretty low. It isn’t even mandatory that you have a bachelor’s degree. If you are comfortable with programming languages e.g. Python, mathematics, and statistics, you are more than capable of excelling in this profession. Basic skills in economics and business management count as added advantages.
There are self-paced open online courses, part-time courses, and full-time courses for data analysts that you can pursue at your own time, learning style, and pace. It’s important to join a data analytics Bootcamp if you need immersive, intensive training by renowned instructors and mentors from around the world.
When it comes to job hunting, there are tons of data jobs on online job search platforms for you to explore. All you need is the motivation and determination to succeed and you will, without a doubt, build a strong career for yourself in the field of data analytics.
Final word
Pursuing a career in analytics is the best decision you can make at the moment, regardless of your academic and professional background. Don’t procrastinate any longer; take advantage of the online materials available to you and kick-start your data analyst career ASAP!