The main role of a data analyst is to collect, clean, and analyze data that can be used by the company for solving business problems. In this article, we will be discussing various aspects of becoming a successful data analyst.
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Check out the Data Analyst Roadmap video to learn more about Data Analyst Career Path
What does a Data Analyst do?
As discussed above the data analysts collect data and interpret useful information for shaping business ideas and decisions, this is only a very brief summary of many of the very important tasks performed by them. A data analyst is required to have a solid foundation in business knowledge and professional abilities which includes communication, problem-solving, time management, and the ability to pay attention to detail.
Following is the list of various day-to-day tasks performed by them:
- Gathering Data: Analysts frequently gather their own data. This could involve carrying out surveys, observing website visitor demographics, or purchasing datasets from data collection experts.
- Cleaning Data: After collecting raw data the analyst is required to clean it. As the word Cleaning states, the data will now be made more usable as well as the quality of data will improve which will eventually lead to better presentation in a spreadsheet or a programming language. Cleaning is a very important task as raw data may have errors or duplicates.
- Modeling Data: Data modeling or say data structuring is the process of developing a visual representation of an entire information system or certain components of it. The objective is to provide examples of the different types of data that are used and stored inside the system, their relationships, possible groupings, and organizational structures, formats, and properties.
- Interpreting Data: Using various analytical methods for reviewing data and drawing conclusions from it is known as Data interpretation. It helps the researchers to categorize, alter and summarize data to provide solutions for various important questions.
- Presenting Data: A big aspect of your job will involve presenting the outcomes of your research. You achieve this by assembling visual elements like graphs and charts, producing written reports, and delivering information to the organization.
Career options as Data Professional
There are various career options available when you pursue a path in the field of data. Let’s talk few of the most popular job titles for which you can apply to begin your journey in this interesting field of data.
Data Analyst
A data analyst is responsible for collecting, filtering, and interpreting various data sets in order to find solutions to problems faced by any organization that might be related to their marketing, product related, or maybe something related to overall sales.
Data Scientist
The task of gathering, examining, and interpreting enormous volumes of data falls under the responsibilities of the data scientist. The position of a data scientist is embedded with a number of conventional technical roles, including those of scientist, statistician, computer professional, and mathematician.
Data scientists generally collaborate in teams to mine big data for insights that may be used to forecast customer behavior and find new income techniques. In many businesses, data scientists are also in charge of establishing standards for data collection, data analysis, and data interpretation.
Business Analyst
ABA or Business analyst is a person that works with organizations to study their systems, services, and products in order to enhance present operations and come to beneficial solutions. A business analyst evaluates the business plan and how it integrates with technology to assist organizations in documenting business processes.
These experts serve as connections between multiple departments in organizations at different stages of growth. They may end up serving as a bridge between the objectives of the businesses’ stakeholders and the most cutting-edge and sophisticated technologies.
Risk Analyst
Risk analysts are experts who are responsible for an organization’s overall risk management strategy. They gather and assess risk data, then share their conclusions with managers who then use that report to derive a valid solution to the problem. They also create strategies to reduce and manage unwanted financial consequences.
The key responsibilities of a Risk analyst include interpretation and manipulation of risk-related data, finding loopholes in an organization that may lead to financial risk, and thoroughly monitoring the requirements for compliance.
Research Analyst
A research analyst’s duty is to gather, analyze, interpret, and present data associated with the market, operations, finances, customers, and other topics related to the industry in which they work.
Sometimes they are also referred to as Data Crunchers.
Few responsibilities that fall under this job are:
- Understanding the requirements and working on the same to benefit the company/client.
- Identifying and analyzing past data, then making suggestions for improvement based on their research.
- Predicting the stock and commodity performance of a corporation
- Organizing and storing the data for using it in future
Consultant
After working with a company for a long time, you can choose between becoming a freelance contractor or a data analytic consultant for the firm. As a freelancer, you will be providing analysis for various clients.
When you work as a consultant, you typically have more flexibility and variety in the types of analyses you conduct.
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How to Become a Data Analyst?
Qualifications required for beginning your Data Analyst career
- A B.Tech degree, or bachelors in IT
- Gaining expertise in key data analytics skills
- Going for a master’s degree or certification
Skills you should have to be a good data analyst
- Analytical skills: The job as a data analyst requires you to work with huge amounts of data that will include loads of figures and number analysis. One must possess this skill in order to analyze and solve problems related to data.
- Data Visualization: While working on data analysis it will be important for you to keep in mind that many of the people to whom you’ll be showcasing your reports might find it hard to understand it, a good data analyst is expected to use the most effective data visualization techniques such as the use of graphs, charts, and well interactive dashboards so that it becomes for everyone to understand your analysis.
- Good Mathematical Skills: To process numerical data, data analysts need highly refined math skills, especially in statistics.
- Technical Skills: A data analyst need to be proficient in a few data analyzing tools such as R, Python, SAS, Hadoop, XML, SQL, Tableau, etc.
- Attention to detail: While performing analysis and while drawing conclusions, data analysts must need to be attentive so that data remains precise throughout.
Salary
Data analysts are paid well, even during their beginning years. As they gain more experience they enjoy some handsome salary figures. Here is a quick overview of the average base salary for various data analyst roles:
- Junior analyst: $61,380
- Senior data analyst: $97,814
- Data Scientist: $123,257
- Business analyst: $82,729
- Financial analyst: $83,005
- Data analyst consultant: $91,000
Conclusion
Data analyst is a fantastic job option if you’re seeking something secure in the future. Businesses will require someone to gather, analyze, and interpret data due to the rising demand for it. You’ll be in charge of assisting businesses in making sense of their data so they can make effective choices. You can have a successful and lengthy career in this industry if you have the necessary training and experience.