Everybody is talking about Data Analytics skills.
Thanks to the digital revolution, analytics is sweeping across industries in a huge way. Mastering certain data analytics skills can enable you to chart a successful career in this lucrative and rapidly changing domain. Deriving insights from large volumes of data to enable better decision-making and an even better customer experience has become the norm for competitive firms these days. Which is why having a data analytics skills in this world pays off well.
There are over 50,000 job openings in the field and the domain is only evolving by the day. But how do you decide if you would be a good fit? What are the skill sets you need to be able to successfully transition into a data profession?
Know more by watching the below video, going through the Infographic or just keep reading on!
Here are the top 4 data analytics skills you will need:
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Solid Domain Understanding
Data Analytics skills help in problem-solving. They need to understand the variables in a business, the levers that they can potentially move to bring about a significant positive change, the external and internal factors that affect its growth, and model all necessary decisions accordingly. Business understanding is a must-have and one of the most critical skills if you aspire to become a data analyst.
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Mathematics & Statistics
Objective decision-making forms a very important part of how you arrive at the solution of any given decision. To be able to take decisions objectively you must rely on Mathematics and Statistics. You need to find patterns, segment, make predictions based on historical information. You will need to use prediction algorithms, classification, and clustering algorithms to arrive at the best possible solution, and that is where Mathematics and Statistics will come to the rescue.
You can identify and solve a problem using domain understanding and mathematical skills. But most businesses are not so simple. You will need to go through data sets that are way beyond your calculative abilities, and in order to be able to replicate your algorithms and business solutions at scale, it is very important that you pick up tools such as R, Python, SQL etc.
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Last, but not the least of data analytics skills, you should be able to communicate your solution in the most simple and understandable format to the stakeholders. They might not know anything about KS Statistics, or root mean square error or your clustering algorithm but that is where your soft skills come in. Impactful communication, use of great visualisation and visualisation tools like Tableau, QlikView, ggplot, etc., become really important.
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Irrespective of your background, you can potentially transition to the field of data analysis. If you’re an IT professional or you hold a Ph.D. in statistics, you just need to hone a couple of skills and you’ll be ready to rule the world with Data Analytics skills!
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What is Data Analytics?
Data Analytics is the process of discovering, evaluating, and delivering essential patterns in data with the help of precise computational analysis of data or statistics. Most data analytics methods make use of specialized systems and software that incorporate machine learning algorithms, automation, and other features. Data Scientists and Analysts implement analytical techniques in their research, and companies use them to enable them to make choices. Data analysis can assist businesses in better understanding their consumers, evaluating ad campaigns, personalizing content, developing content strategies, and developing goods. Eventually, organizations can utilize data analytics to improve their bottom line and raise corporate performance.
What do Data Analysts do?
A data analyst's responsibilities include designing and managing data systems and databases, as well as troubleshooting coding mistakes and other data-related issues. Data analysts reorganize data so that it can be interpreted by both humans and machines. They evaluate data sets using statistical techniques, paying close attention to trends and patterns that might be useful for diagnostic and predictive analytics initiatives. They also aid in the demonstration and preparation of reports for senior leadership that effectively convey trends, patterns, and projections based on pertinent data.
How much do data analysts earn on an average?
An entry-level Data Analyst with less than one year of experience may expect to earn a total salary of ₹3,41,912 (which includes gratuities, bonuses, and overtime pay). The typical total salary for an early career Data Analyst with 1-4 years of experience is ₹4,26,604. The average total salary for a mid-career Data Analyst with 5-9 years of experience is ₹6,96,444. A Data Analyst with 10-19 years of experience makes a total pay of ₹9,42,653 on average. Employees in their late careers (20 years and up) get average total pay of ₹10,00,000.
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