Who is a Data Analyst?
These days, a lot of companies receive a great amount of data that can be analyzed and used to optimize their strategies. In other to better understand this large amount of data, these companies require the service of a professional Data Analyst.
Hence, the work of a data analyst is to process these varying data about the customers, products, or the company’s performance as such give out useful indicators to the decision-makers.
The information provided by the data analyst helps the company to make informed decisions such as knowing the kind of product to be offered to the customers according to their needs, a strategy to be adopted by the marketing team, or the production process they need to improve to drive more sales.
Data Analyst Qualifications
Becoming a data analyst requires both skills and academic qualifications. let’s delve into these two categorically.
Data Analyst Academic Qualifications:
To easily land an entry level job in data analysis, you need to graduate with a high GPA from a data analysis program. A degree in mathematics, economics or statistics from a well reputable university can be enough to give you the opportunity you need in data analysis even if its not your specialty.
You need at least bachelor level degree to get into most entry-level jobs as a data analyst. But to advance in your career as a higher level data analyst and earn more you will need either a masters degree or doctoral degree.
Thus, if you are interested in data analytics, you should get a masters degree in either Data science or Business Analytics. That will be helpful and give you the boost.
You don’t have the time to go back to university to get a degree in other boosts your career in data analytics? Don’t worry, you can enroll in an online course. There are numerous online courses out that can give you the practical knowlege you need to advance your career as a data analyst.
A Data Analyst skills:
The skills of a data analyst can be classified into three groups namely:
- programming languages: you need to be proficient in at least one programming language as a data analyst. In other words, the more programming language you the better. some of the programming languages you should know to include R, Python, C++, JAVA, MATLAB, PHP, and more.
- Data management and manipulation: R, HIVE, and SQL are some of the languages you should be familiar with as a data analyst. Being able to build queries in other to extract data is an important aspect of data analysis. so, if you are able to analyze data, the next thing is to be able to produce an accurate report. some standard tools you can do that with includes Oracle visual Analyzer, Microsoft Power BI, SAS, Cognos, Tableau etc
- Field knowledge and good communication skills: Having good domain knowledge coupled with great communication skills is a fine combination every data analyst should have.
Owing to the fact that a data analyst’s job is to make sure that decision-makers have accurate and well-detailed information to help them do their job. A data analyst needs to understand specific user requirements as well as a deep understanding of data.
Thus, having good communication skills allows the analyst to relate well with various clients, executives, IT specialists, etc. In other to align the data obtained with the overall business objectives. Nonetheless, the job of a data analyst helps to modify and improve some of the business processes.
- Great understanding of Mathematics: Having a great grasp of mathematics and statistics is a must-have for every data analyst. You need to be comfortable working with formulae in other to solve some real-world problems. Common business problems such as compound interest, depreciation and other statistical measures eg mean, median, mode, etc should not be a problem for any data analyst.
For data visualization, you should be able to work with tables,graph,charts and more. Linear algebra and multivariable calculus knowledge is very important as they will be frequently used in data analysis.
- Microsoft Excel: You should be comfortable working with Microsoft excel. As arranging data and working numbers will be a major task for every data analyst.
What is the Salary of A Data Analyst?
From experience different factors usually contribute to the annual salary of every professional and its no different with a data analyst.
So for a data analyst, your level of education, skill sets and years of meaningful experience all contribute to your annual take home salary. Even your location will affect how much you make as a data analyst.
Here is the average salary of a data analyst annually in different level of experience:
|Entry Level Data Analyst|
|Salary Range in INR||₹172,794 – ₹716,015|
|Salary Range in USD||$40,585 – $78,832|
|Mid Level Data Analyst|
|Salary Range in INR||₹289,109 – ₹1,186,711|
|Salary Range in USD||$45,244 – $91,092|
|Experienced Data Analyst|
|Salary Range in INR||₹363,414 – ₹1,970,089|
|Salary Range in USD||$45,280 – $99,542|
What is the Career Path of a Data Analyst?
In recent times, data analysis is considered one of the most important skill anyone can have. This made it one of the most sort after skill by industry professionals. Thus its not surprising that the growth rate for the demand of data analyst will be up by 19% for the next seven years.
Here are some of the industries where the demand for a data analyst is very high.
- The Market Research: You can not separate market research from data analysis. As the major success of every marketing campaign is seriously hinge on understanding data analytics. Thus, 72% of marketers now consider data analysis to be a vital thriving point for the growing landscape in marketing. For instance, a company that is about to launch a new product or service now depends on data analysis to make informed decisions.
- Finance and investments: Another industry in dying need of data analysts is the finance and investment industry. They need both entry-level data analysts and experts. The career path of a data analyst in financial institutions like investment banking is usually in the management department. If you do exceedingly well you are considered for promotion by senior management as it is believed you will do a good job in handling new recruits.
- Sales: The need for a data analyst in this sector can not be overemphasized. as they are required to analyze data related to product sales, customer satisfaction as well as identifying the potential sales barriers in the company and help decision-makers.
Entry Level Data Analyst
Thus, if you have chosen a career in data analysis, it will be nice for you to know that an entry-level data analyst makes a good income though this is depending on your experience and skill sets.
Different industries require different sets of skills, you need to know which one the company you intend to work for needs.
For instance, a data analyst employed in a company might be required to run queries against the available data for finding important trends, and processing this data might be useful to the Data scientist. Thus, data analysts are very good at writing database query language like SQL and also produce visuals to better understand the data available to them.
For a data scientist, they build models using machine learning to make various predictions and as such explain the future of the company or organization. They work closely with the data analyst while getting the data used in the building of the machine learning model. However, the annual salary of a data scientist is much higher than that of a data analyst as they are short in supply.
With relevant skill sets acquired, a data analyst can go on to become a data scientist since they already have some skills of their own and experience working with professional data scientists.
How the technical work of every data analyst will keep reducing while their managerial work increases as they climb the coperate data.
How Do I Become A Data Analyst?
I know at this point you migbt be asking how do i become a data analsyt? earning a bachelor degree is your your first step to becoming a data analyst. This because for most entry-level jobs for data analysis, you be reqired a bachelor certificate in any of the following decipline. They include finance, economics,mathematics,statistics,computer science and information management.
Your major focus as newbie in the industry is to gain enough experience and exposture so as put yourself in the position of strength.
As it is with other professions, gaining working experience is invaluable to a data analyst. Thus, there are many internship opportunities open to data analyst. take up one of these opportnties to build your experience and resume.
This career path is ever-changing, thus choosing it means committing yourself to lifetime learning in other to keep up with new trends and technologies.
How do I Become a Data Analyst with No Experience?
In these modern age anyting career you want to change to, all the resources you need is already available. what you need to do is ro access it. Becoming a data analsyt without experience is simple, you need to earn a degree through an online course in data analysis. That will help you build a foundation in the field of study. These courses grant you access to real life projects that will help you develop your skills.
Then get and internship and take on some freelance jobs, that way you build up your working experience before for the big jobs.
choosing a career in data analysis can be excitingly rewarding because you get tolive your dream life. Dont be fast to jump into the professional scene just yet. take your time to build the experience as it is what what will carry you through out your career.
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