Forbes mentions that according to IBM, there will be over 2,720,000 job openings for data professionals like Data Analysts in the year 2020 which is about 364,000 more than last year.
In this blog, we will cover the following:
What is a Data Analyst?
You must be wondering about Data Analyst meaning. Data Analysts are professionals who go through datasets provided to interpret trends and patterns. These professionals create reports, graphs, and other such visualizations to present the data to organizations in an understandable format.
What does a Data Analyst do?
After getting a general idea about Data Analysts, let’s try to briefly understand what they do. These IT professionals extract information from massive volumes of unstructured data. Further, they process this data based on numerous factors such as products, customers, or the organization’s performance. Data Analysts, then, offer market strategies that can be adopted by organizations to make necessary improvements in the enterprise.
In simple terms, the main role of Data Analysts is to convert logistics, market researches, sales figures, and other data into readable formats to enable organizations to make improved decisions in numerous aspects. This, in turn, allows the companies to gain more profit and succeed in their respective domains.
Check out this YouTube video on Data Analytics:
Why Data Analyst?
Let’s suppose that you are working in one of the leading organizations like Amazon or Flipkart. Suddenly, this month, your sales shot up extremely high and you do not know the reason why or how. However, instead of finding out what caused this, you decide to let it go since everything seems to work in your favor. Now, consider the reverse. Rather than your sales shooting up, it drastically declines. Wouldn’t you like to figure out the reason why this happened and where you went wrong? To understand how the sales dipped or shot up out of nowhere when you did not really do anything much different from before, you need a Data Analyst.
You, as a Data Analyst in your company, will collect and analyze the company’s data and gain insights into the reasons why there is such a major change in sales. With this data, you can help the organization make better business decisions and improve the growth in terms of sales and other factors.
After learning about Data Analysts, now, you will read about how you can become one. Besides, you will also learn about the qualifications and skills required to build a successful Data Analytics career. Further, you will come across Data Analyst responsibilities that will give you a better knowledge of this job profile.
How to Become a Data Analyst?
To become a Data Analyst, you must follow the Data Analytics learning path. This path consists of completing the required qualifications, attaining the necessary skills, and learning about the various roles and responsibilities of a Data Analyst. Let’s check out these, one by one, in detail.
Data Analyst Qualifications
You need to have the following qualifications to start your journey of becoming a Data Analyst:
- A bachelor’s degree for entry-level jobs
- A master’s degree for higher job profiles
- A degree in the domain of statistics, computer science, and mathematics
You must have any of the above qualifications before aiming for a job role in the field of Data Analytics.
Let’s check out the skills necessary for this profession.
Data Analyst Skills Checklist
Following are the prerequisites for the Data Analyst profession:
- Good knowledge of mathematics and statistical concepts
- Experience in R, Python, and other programming languages
- Good understanding of SQL databases
- Excellent knowledge of Machine Learning concepts
- Abilities to work with reporting packages and data models
- Basics of Web Development
- Understanding of processes such as data manipulation, data mapping, data wrangling, and data management
- Experience in working with Microsoft Excel
- Knowledge of Pig or Hive applications
These are just a few of the skills for Data Analysts that you need to master to become a successful Data Analytics professional in a reputed organization. If you wish to acquire these skills and become a well-known Data Analyst, then register for one of the best online Data Analytics courses provided by Intellipaat. Once you gain the necessary skills, we will help you land a high-paying job in one of the leading companies. We will assist you in creating a well-designed Data Analyst resume that will give a boost to your career.
Data Analyst Roles and Responsibilities
Following are the set of Data Analyst responsibilities that these professionals are required to fulfill:
- Design and maintain databases by handling data-related issues like fixing code errors
- Perform data mining on various data sources before organizing the data in a readable format
- Make use of statistical tools to predict future trends by identifying patterns and trends in the given datasets. These trends may be valuable for predictive analytics and the diagnosis of data
- Build and implement data analysis strategies to optimize the statistical quality and efficiency of the organization
- Prepare charts and reports to effectively communicate the insights and predictions gained from the data
- Create documentation allowing stakeholders to comprehend the complete process of data analysis for future use
- In-depth understanding of Data Analytics
In this blog on ‘What is Data Analyst? How to become a Data Analyst?’ you have read in detail about Data Analytics, Data Analysts, how a Data Analyst works, and how to become a Data Analyst. You will further get an overview of the various job roles and opportunities available in this field. First, let us understand what Data Analytics.
What is Data Analytics?
Data Analytics deals with examining data to gain insights and draw conclusions on the contained information. This process is done with the help of software and tools that can assist in the data analysis process. Numerous Data Analytics tools and technologies are now being used in organizations to help them make better and well-informed decisions for their business.
The process of Data Analytics allows you to analyze raw data in search of hidden patterns and trends to gain valuable information related to the business and the current market trend. It mainly involves descriptive, advanced, and Machine Learning (ML) techniques to analyze the given data for a better understanding of the financial condition of an organization. This process includes numerous algorithms that can help in attaining business insights.
Step-by-step Process of Data Analytics
Step 1: Identify the requirements before grouping data
Step 2: Collect the data from both online and offline sources
Step 3: Organize the given data for analysis purpose
Step 4: Eliminate incomplete, redundant, and inconsistent data
Step 5: Perform data cleaning to correct any errors present in the data
Step 6: Perform data analysis
Now that you have a basic idea of what Data Analytics is and what it means, you will read about Data Analyst jobs and the various opportunities available in this domain.
Data Analyst Jobs
Today, there are numerous job opportunities available for Data Analytics professionals across the world. This is because most companies deal with a large amount of data on a regular basis that needs to be analyzed. It is humanly not possible for companies to analyze this massive volume of data. Due to this reason, enterprises hire Data Analytics professionals who have the abilities and skills to analyze such data and gain valuable information from the same.
Here is a list of some of the most popular jobs in the Data Analyst profile:
- Data Analyst
- Senior Data Analyst
- Financial Data Analyst
- IT Data Analyst
- Data Management Analyst
- System Analyst
These are just a few of the highly in-demand Data Analytics job roles available currently. For a successful Data Analyst career path, you can begin with a Data Analyst internship wherein you will gain good knowledge and experience of the corporate world. Later, you can apply for these job profiles as a Data Analyst fresher.
Since we have learned about the several job opportunities available in this field, let’s get an idea of the job description of these professionals.
Data Analyst Job Description
Here is a brief job description of these professionals:
- Make use of advanced technological models to extract the required information
- Eliminate corrupted data
- Analyze the data to determine its quality
- Interpret the data to gain valuable insights
- Offer data screening
- Generate analysis-based reports and present it to the organization
Below are a few screenshots of the available jobs in Indeed, along with the job roles and duties:
Job Opening in Sony USA:
Job Opening in EY, India:
Now, you will come across the numerous organizations that are currently hiring these IT professionals.
Organizations Hiring Data Analysts
Following are the top 10 leading companies that are hiring professionals in Data Analytics:
- JP Morgan Chase
To become a part of these leading industries across the world in the domain of Data Analytics, you must sign up for an online course and gain valuable experience in this field.
Data Analyst Salary
You have already read about how to become a Data Analyst and the various opportunities available for you in this field. However, you might wonder, ‘How much does a Data Analyst make?,’ ‘What is their payroll?,’ and so on.
To answer these questions, yes, Data Analysts earn extremely well. They are among the highest-paid IT professionals in the world today. The main reason for this is their lack of supply and high demand. These professionals are an extreme necessity for both small and big companies as most of these companies receive chunks of data on a daily basis.
The average income of Data Analysts in the United States is approximately US$62,453 per annum. This might hike up to US$95,000. While, in India, the average base pay of these professionals is about ₹625,000 per annum that may rise to ₹1,282,000 per annum with experience. – Glassdoor
Data Analyst Scope
As per the studies conducted by IBM, there will be over 700,000 new job opportunities and recruitments of Data Analytics professionals by the end of this year. Data Analyst job profile is one of the most sought-after roles in the IT industry today. The demand for these professionals is only growing with the years passing by, which is why it is a good and secure career option.
This blog has given you an insight into what Data Analytics is and who these professionals are. Moreover, you got in-depth knowledge of how you can become a Data Analytics professional in well-known organizations. You also learned about the various skills required, along with understanding the responsibilities of this job role. Further, you came across the numerous opportunities that are waiting for you to grab. So, register for the Data Analytics course and become a professional in this domain now!