Data analysis is very important for businesses and organizations that explore data in a meaningful way to understand and rectify the problems. It organizes, structures, interprets, and presents the data as useful information. Nowadays the workplace has become fast-paced and more tech-driven, making data analysis increasingly important in business. It is an internal organizational function (performed by a data analyst) that presents numbers and figures to the management. It provides decision-making insights to predict consumer behaviors and trends. It is also helpful in increasing business productivity. It gives meaningful insights that help to drive effective solutions for the problem.
Businesses that are adopting data analysis can find the cause of particular events based on the data. Data analysis can help to understand the objective and directive for your business to get technical insights. It can create better business plans for innovative sales and marketing strategies to attract more consumers. It is also effective to determine the right form of advertising and make an impact to buy products. Data analysis is a better way to check the performance and progress of your business or product in the market. It can tell you about future trends so businesses can innovate something new to maintain a sharp edge advantage over your competitors. No doubt, professionals who take a data analyst course and enter this field are sure to witness a rewarding career ahead.
Who Is A Data Analyst?
A Data Analyst is someone who collects, organizes, and interprets statistical information to make it useful for business and organization. He scrutinizes information using data analysis tools and makes meaningful results. Data Analysts help their clients or employers by identifying real facts and trends to make important decisions. They use advanced computerized models to extract the data and remove corrupted data.
With initial analysis, they assess the quality of data. Using further analysis they determine the meaning of data. To provide additional data screening final analysis is used. At last data analysts prepare reports based on analysis and present it to management. They are expected to spend their time developing systems for collecting data and compiling their findings into reports to improve the progress of the company.
An effective data analyst possesses a rare combination of technical skills and leadership skills. Data analysis work depends on the type of data that is provided from sectors such as sales, healthcare, inventory, social media, etc.
Data Analyst responsibilities may include:
- Producing reports
- Spotting patterns
- Collaboration with others
- Collecting data and setting up infrastructure
Analysts can be involved in any stage or part of the analysis and also can be asked to train others in the data collection system.
Skills Required To Become a Data Analyst
The essential skills for Data Analyst are mentioned below.
Structured Query Languages (SQL) is the industry-standard database language. It is the most important and necessary skill for a data analyst to know. With SQL, data analysts can store and manage data, relate multiple databases, and change the database structures altogether. Several companies need candidates who know SQL better as thousands of job postings requiring SQL skills are posted.
If someone wants to become a Data analyst, they should be proficient in using Microsoft excel. There are many analysis powers under this tool called advanced excel methods like writing Macros and VBA Lookups for quick analytics. So learning this skill is a must.
Using Data to find answers and to get success there is a need for critical thinking as a data analyst. It is a must to uncover and synthesize connections that are not clear. So always try to update and improve critical thinking skills.
R Or Python
These Languages are better and 10 times faster than Excel. R and python are statistical programming languages that perform advanced and predictive analysis of big data sets. These languages are also used for exploring data sets and doing ad-hoc analysis.
Data visualization can make an impact on your data and keep your audience engaged. It makes your findings be quickly and easily identified. Eye-catching and high-quality charts and graphs can be used in visualization.
Besides data visualization, machine learning is also a must for a data analyst. An understanding of machine learning is now identified as a key component to become a perfect data analyst.
Presentation skill and visualization skills go all along and hand-in-hand. But this skill does not always come naturally to everyone. So the final presentation of your ideas must be perfect and attractive with hard practice.
So now it’s the right time to identify and develop your analysis skills and start working as a data analyst.
Reasons To Be a Data Analyst
Data Analysis is a buzzing word in several companies and organizations. There are many reasons to choose a career as a data analyst, some are mentioned below:
- Attractive Salary Package- In the U.S. an average salary of a data analyst is around $106,000 per annum in addition to attractive median bonuses. At the managerial level, it is around $140,000 as a median annual base salary.
- Huge job Opportunities- The demand for Data analysts is growing rapidly. There are several unfilled job roles waiting for the skilled candidates due to a lack of the required skill sets.
- Interesting Job Opportunities- In the field of Data Analysis, there are interesting and exciting job opportunities. Better understanding comes with better tools while doing analysis.
- Vast scope- Data Analysis can be applied to many different domains such as travel, healthcare, finance, banking, politics, etc.
- Make Better Decisions- Data can help us to make better decisions. It tells about exactly how users and customers interact with websites or mobile apps to create better information.
- Know the Market Trends- Data Analyst tells us more about the market and helps us to improve products and services because it gives highly sophisticated information.
Data Analyst has become one of the most popular and demanding jobs for the year 2020. So if you are fond of analyzing then grab the opportunity to become a Data Analyst with a perfect skill-set.