If you want to pursue a Data Analytics career, there are excellent opportunities from which you can choose. Moreover, as organisations, government agencies, and individuals value the power of data, career opportunities in Data Analytics are only getting better. Every organisation is looking for data literate experts like Data Scientists, Data Analysts, and Data Engineers to churn their raw datasets into intelligent business insights and make data-driven choices.
Thus, the increasing demand and high-paying job prospects are ripe for those looking to start a career in Data Analytics. Is Data Analytics a promising career? How about a job in Data Analytics after an MBA? These are some of the many questions candidates always have in their minds. This blog deals with the popular Data Analytics career options you must know about.
What are the skills required for a career in Data Analytics?
Firstly, Analytics Insight has forecast that by 2025, there will be 137,630 data science job openings in India. Analytics Insight also projected 72,337 data science job openings in India in 2021. Since the demand is pretty high, it would be a great time to make analytics the centre of your career. Some of the sought-after skills that can help you to start your Data Analytics career are mentioned below.
- Coherence with Data Analytics concepts, like statistics, and deriving accurate insights from data
- Knowledge of data visualisation tools. (Qlik, Tableau, Datameer, and others that are widely used in industries for operations like data crunching)
- A good grasp of languages like Python, SQL, R and database management systems
What are the careers in Data Analytics?
A Business Analyst (BA) is nearly mainstream in every organisation, especially product, IT services, and other organisations utilising technology. A Business Analyst must further have expertise in the chosen domain. They are tasked with testing, installing, updating and maintaining the business process systems for the organisation. This also includes data processing and other tools. BA need not have in-depth knowledge of Data Science, but having functional expertise confers a considerable advantage.
Business Intelligence Analyst
Business Intelligence (BI) tools help organisations convert raw data into insights. They must be familiar with the BI tools. Further, BI Analysts work with Data Analysts and Scientists to provide data visualisations. These include charts and graphs and create reports for making significant business decisions.
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Being one of the most prominent Data Analytics careers, Data Analysts are required to represent and interpret data in different forms to derive actionable insights. They need to be well versed with Excel, SharePoint, SQL and Access. They must also know data mining, data modelling, and data visualisation tools. Sometimes, Data Analysts also help to segregate and simplify data from several systems that require to be shared for other analytics.
Data Analytics Consultant
Like many of these roles, the primary responsibility of an analytics consultant is also to deliver insights to a company to help their business. There is a difference between a consultant and an in-house data analyst or data scientist. A consultant may work for different companies in a shorter period.
A Data Engineer usually focuses on massive data sets and optimises the organisation’s infrastructure around several Data Analytics processes. Data Engineers require substantial expertise in data visualisation and programming and need to have experience developing and testing solutions, being on par with the requirement.
Information and Data are integral to an organisation, especially when it concerns journalism. So, several news agencies and publications require Data Journalists who primarily find data, distinguish the valuable data from the bad, and analyse it for simplicity. Data Journalists must have good technical skills in Python and SQL while being experts in Statistics and Data Visualization. The field also needs sound knowledge of various other areas to contextualise the data for further usage.
As one of the most sought-after Data Analytics career opportunities, Data Scientists collect and analyse data presented as actionable insights. Further, Data Scientists are those who work with advanced analytics and complex data. They also require substantial expertise in Data Analytics. These include programming languages like Python and R, data visualisation tools, and other vital skills.
Data System Developer
With the aim of building products that effectively leverage an organisation’s data for insights and decision-making, Data System Developers are professionals who form the heart of the database and system. Besides, they help design, build, and maintain an organisation’s data and analytics infrastructure and facilitate the process for Data Scientists, Analysts, and other Developers.
Data Visualisation Specialist
Like the Business Intelligence Analyst, Data Visualization Specialists must also have a strong familiarity with various data processing tools like Datameer, Tableau, Qlik, SAP, TIBCO, etc. Besides business and functional knowledge, this role has an excellent scope for Data Analysts. They have in-depth familiarity with programming languages used for data analysis.
Are you wondering how to start a Data Analytics career from scratch? Then, a Database Admin is a significant role to consider. Moreover, Database Administrators are mainly responsible for ensuring that the database is working smoothly and familiar with database tools like NoSQL, SQL, etc. Database Admins monitor and optimise performance and implement, configure, and troubleshoot database instances to ensure optimal health of the environment.
Data is also used for investments, financial planning and making other money-related decisions. This is where Financial Analysis comes in. Financial Analysts are Data Analysts with expertise and who use various insights to interpret them. This makes it a good fit for those with a background in Finance looking for career growth in Data Analytics. Financial Analysts have functional knowledge of Data Science while also having expertise in financial assets like stocks, bonds, trading, and other domain-specific tools.
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Apt for those who want to make a career switch to Data Analytics, Functional Analysis is a stream that leverages the Data Science background to identify and mitigate system risks, records and functions. Functional Analysts identify problems, recommend technology and system upgrades. They are in charge of the system procedure, to ensure that operations are effective.
IT Systems Analyst
Systems analysts use design systems to solve problems in IT. The mandatory level of technical expertise varies in these positions, creating opportunities for specialisation by personal and industry interests. Some systems analysts use existing third-party instruments to test software within a company. Others create new proprietary tools from comprehending data analytics and the company itself.
Machine Learning Engineer
Machine Learning Engineering is an advanced career in Data Analytics that combines Data Science and Machine Learning/Artificial Intelligence expertise. A Machine Learning Engineer must specialise in Python, Deep Learning, and other programming languages, data visualisation tools and Big Data Analytics. As per reports, Machine Learning Engineers are sought-after in organisations like Accenture, Apple Inc, PwC, JP Morgan, and other companies, with an average annual salary of $1,11,855.
An excellent option for a career in Data Analytics in India, Marketing Analysts, use data to make intelligent decisions for sales and marketing-related activities. Marketing Analysts are well-versed in data crunching while also being knowledgeable of the marketing aspects of a business. They have to use relevant data to identify opportunities, make predictions, and streamline processes. This requires sound technical and communication skills, as the person in this role needs to often interact with the client-facing teams.
Operations analysts typically work internally at large firms but may also work as consultants. They focus on the internal processes of a company. This can include product manufacturing and distribution, internal reporting systems, and the general streamlining of business operations. Professionals in these roles need to be broadly business savvy, and they often have the in-depth technical know-how of the systems they’re working with. Operations analysts work in every type of business, from postal service providers to large grocery chains, to the military.
They make an average of $67,353 per year, with an average additional cash bonus of $2,500. Due to the diverse nature of this data analytics job and the many industries, you may find employment in. The salary can vary widely. They may also be employed for more than one company at a time, focusing on specific projects with clear start and end dates. These roles are best for those who like change and have a narrowed interest and expertise in a field of study. Analytics consultants are also in a great place to work remotely, another enticing factor about this role to consider. The compensation varies widely by industry, but $78,264 is a representative salary for the position.
Like a Business Analyst, a Product Analyst must manage product-related processes like planning, analysing new or existing products, and ensuring proper working of the products used within the organisation. If you are wondering how to switch your career to Data Analytics, understand that Product Analysts need to have a powerful hold of tools in Data Science like Python, R, SQL, and others.
Project managers use analytics tools to track a team’s progress, track their efficiency, and increase productivity by changing processes. They require at least a working know-how of data analytics and often more. These roles are found internally at large businesses and frequently in management consulting. An example of a career trajectory for project managers could be moving into supply chain management, which firms rely on to maintain smooth operations and profit margins. The typical salary for a project manager is around $73,247.
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A highly in-demand role for those looking for a career in Big Data analytics in India, Quantitative Analysts use data to analyse and flag potential investment opportunities or risks depending on the outcome. Since these decisions are used to make investment-related decisions like trading models, stock predictions, commodities, and exchange rates, these positions usually pay well.
Transportation Logistics Specialist
A transportation logistics specialist optimises transportation of goods and can be found in large shipping companies, like UPS, Amazon, naval transport companies, city planning offices and airlines. A data analytics background is beneficial in this job because transportation logistics specialists must reliably identify the most efficient paths for services and products to be delivered. They must look at massive amounts of data to help identify and eliminate bottlenecks in transit, be it on land, air, or sea. With seasoned professionals in this field making around $79,000 per year, a transportation logistics specialist is an appealing career for those who are technical, detail-oriented and forward thinkers. A data analytics background also helps transportation logistics specialists, among others, to focus on the most critical issues, seeing potential problems and solutions in context and communicating those effectively.
Global Career Opportunities
A job in Data Analytics in India is excellent, but there are also several opportunities globally. Many leaders indicate an increase in Data Analytics careers worldwide, and 70% of business leaders prefer to hire professionals with data skills.
Are you all set to begin a career in Data Analytics? As you might have seen, within Data Analytics, there are several sectors. Every industry is on the lookout for knowledgeable individuals who can work with data to generate valuable insights. Data analytics careers may range, but the necessity for a successful career in this field remains the same:
- Be an expert in Data Analysis
- Use data to make intelligent decisions
- Know your domain
MBA in Data Analytics, Artificial Intelligence and Design Thinking at the WUD
The World University of Design offers a two-year MBA in Data Analytics, Artificial Intelligence and Design Thinking. Tapping the potential of emerging disruptive technologies such as artificial intelligence, data science, and machine learning requires a novel set of professional skills. Individuals with expertise will drive the business domain to apply these skills to organisational needs and strategies while navigating the societal, ethical, and psychological implications.
The course aims to dramatically enhance the ability to make informed choices of high quality by making the most optimal use of emerging technologies, human-centred design and application of design thinking. Design Thinking skills taught through a hands-on learning journey will help you develop the creative-thinking skills needed to innovate in any organisational context. By honing your creative thinking skills, you will return to work to build and support a creative culture within your organisation. It inculcates a culture that is capable of confidently pushing and sustaining innovative efforts.
Hence, before thinking of a mid-career switch to Data Analytics or starting completely fresh, make sure you have gained expertise in data analytics tools and technologies like Spark, Python, SQL, and Tableau.