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Career Track

DATA ANALYST

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WHAT IS A DATA ANALYST?

Data Analyst explores the ways in which data can be used to answer business questions and solve problems a company is facing. In simplest terms, they act as a bridge between data (accumulated through various sources) and management, as they translate numbers into easy to understand outcomes & suggestions. They also help the company in identifying loopholes, hence boosting the bottom line of the business. So, they must have analytical + Business & Industry knowledge + communication skills. Which makes them an invaluable asset for almost any company.

It’s important to note that Data Analyst is an umbrella term. It could also include titles like Business analyst, Management reporting, Corporate strategy analyst, Compensation & Benefits analyst, Budget analyst, Insurance Underwriting Analyst, Actuary, Sales analytics, Web analytics, Fraud analytics, Credit analytics, Business Product analyst and Social media data analyst.

WHAT DOES A DATA ANALYST DO?

They collect, process & perform statistical analyses of data. However, the job description of a Data Analyst will strongly vary depending on their specialty and the type of company they work for. A data analyst job description generally includes:

  • Collect & analyze complex data using statistical techniques, interpret it & provide reports.
  • Develop and implement databases, data collection systems, data analytics and other strategies that optimize statistical efficiency & quality
  • Acquire data from various sources and maintain databases.
  • Identify trends and patterns in data sets
  • Filter data by reviewing reports & performance indicators to locate & correct code issues
  • Work with stakeholders to prioritize business & information needs
  • Identify & define new process improvement opportunities

– Let’s have a look at what companies look for while hiring a Data Analyst: – 

data analytics online course
data analytics online course detail
data analyst in USA
, Data Analyst Career Path

As you can see, to become a Data Analyst, you should not only possess strong technical skills but also have excellent communication skills because, at the end of the day, you will be explaining numbers to mostly non-tech savvy people. So, it’s vital that you not only have the ability to read between the lines (numbers in this case) but also must be able to turn data into actionable insights.

What is the career path of a Data Analyst?

, Data Analyst Career Path

As a data analyst, you’ll be approached by the company to help them for a variety of reasons, ranging from product pricing to employee productivity. So, it’s a role that requires a lot of quantitative expertise.

Who hires a Data Analyst?

Seasoned data analysts are in huge demand all across the globe. According to a recent study, 59% of organizations plan to increase the number of positions requiring data analysis skills in the near future.

Here are the Top 14 sectors that hire Data Analysts:

Banking & Securities

Health Care

Search Engines

Social Media

Manufacturing

Media

Education

Insurance

E-Commerce

Consumer Trade

Energy

Transportation

Sports

Mining & Recourses

Here are the Top 20 companies that hire Data Analysts:

Adobe

Amazon

Apple

Berkshire

Hathaway

Cisco

Facebook

Google

HCL

IBM

Infosys

, Data Analyst Career Path

, Data Analyst Career Path

Instagram

Intel

JPMorgan

Mahindra

Oracle

PayPal

Pixar

Rockstar Games

Wipro

Tata Consultancy Services (TCS

, Data Analyst Career Path

, Data Analyst Career Path

What are the skills/qualities needed to be a Data Analyst?

1 Dubious

To excel in your career as a data analyst, the first thing you need to know is that data does not reveal the pitch-perfect answers. So, considering your initial findings as concrete evidence is not something you want to do. You will have to adjust it several times before getting the answer your company is expecting from you.

2 Detail-Oriented

A successful analyst is one who understands how best to extract perfect information from imperfect data by keeping an eagle eye on the huge pile of data.

3 Business Acumen

To be a data analyst you will need to have a sound knowledge of the industry you are working in. You should also know the business inside and out because it’s a prerequisite in order to detect any loopholes or to measure customer sentiments. Your company will also expect from you to identify untapped opportunities which is only possible when you have a solid understanding of the industry and business.

4 Fascinated by Data

Running an SQL query is not a big deal for tech-savvy people, but these queries are often misleading. As a data analyst, you must understand this and first perform an exploratory investigation. Which means you will have to dive deep into data and search for answers. And to do that, you must love exploring data otherwise it will feel like the most tedious job in the world. So, until and unless you are not fascinated with the data, we would advise you to not get into this field.

5 Curious

Data analysis is a perfect blend of art and science. So, if you want to make a career in the field of data analysis, you must be a curious person. You should not stop asking questions like how things work and why. Remember, as a data analyst, your job is not just to mine data & create reports, it’s much deeper. You are a seeker of truth, you want to understand how things work, what are the factors that influence a customer’s decision, etc.

What are the Tools required to become a Data Analyst?

DATA ANALYSIS

EXCEL

SQL

ACCESS

DATA VISUALIZATION

POWER BI

EXCEL

TABLEAU

AUTOMATION

VBA

RPA

QUERYING LANGUAGE

SQL

HIVE

PIG

QUERYING LANGUAGE

SAS

R/PYTHON

MICROSOFT OFFICE SUITE

WORD

OUTLOOK

At-least one of the Education Required

A Bachelor’s degree in:

Mathematics

Computer Science

Finance

Economics

Statistics

Information Management/ Business Information Systems

Typical Salary Range of a Data Analyst

Because the demand is greater than supply, skilled data analysts command great pay and excellent perks, even at the entry level.

Entry Level (0-3 years)$49K – $71K
Mid-level (3-5 years) $82K- $130K
Entry Level (0-3 years)₹4L-₹7L
Mid-level (3-5 years)₹7L-₹10L

CONCLUSION

Being a Data analyst involves understanding various aspects such as finance, administration, and management. It is one of the most lucrative profession change as the organizational decisions are completely based on the data acquired. Data Analyst certifications are the most sought after certifications for entry level as well as experienced professionals.There are many renowned institutes like Yoda learning offering certifications for various tools that are used for business analytics. Be a Data Analyst and take your career to next level.