3 Things You Most Likely Didn't Know About Data Analytics

By Sarah M.

So you are considering to become a data analyst, but is it the best choice for you?

Data has evolved into a critical indicator for determining an organisation's performance. It aids businesses in achieving a good perspective for their clients, developing more effective marketing tactics, and providing a better overall customer experience.

According to the World Economic Forum 2020, data analysts will be in high demand by companies all over the world. In today's digital economy, data is becoming more precious than ever.

As a result, a career in data analysis and data science are expected to grow in popularity, with data scientist positions being the fastest-growing. As reported by LinkedIn, there will be approximately 11.5 million jobs in this sector by 2026. Many people, however, are unaware of the high demand for data scientists, engineers, and analysts.

By the end of this post, you will have more insights about the job as a data analyst and whether you want to consider this career for yourself. Let's find out!

1. What exactly does a data analyst do?

Data analytics is a multidisciplinary approach to solving analytically complicated issues that combines data inference, algorithm development, and technology.

A data analyst is much more than just a number cruncher. Analysts examine data to identify ways to use data to solve problems, gain critical insights about a company's customers, and increase profitability.

Analysts also share their findings with key stakeholders and upper management.

2. Why is data analytics in such high demand?

Companies can no longer ignore the tremendous business impact of data analytics. With millions of users producing new sets of data every second, there is an ever-increasing need to make sense of the truckloads of data. As a result, businesses are working hard to hire data analysts.

While the COVID-19 outbreak followed by the world economic crisis had a negative impact on most other IT jobs, the data science profession emerged with far fewer pay cuts and layoffs.

The CEO of ASEAN Data Analytics Exchange (ADAX), Sharala Axryd mentioned that data professionals such as data engineers, data analysts, and data scientists are the "sexiest jobs" of the twenty-first century.

Aside from a competitive salary, data experts are in high demand and will be needed across a wide range of industries in the coming years.

A mix of skills including Big Data, data analytics, artificial intelligence (AI) and web development has seen a 21 per cent increase in demand as mentioned in LinkedIn's latest Digital Workforce of the Future report.

3. What are the right skills to become a data analyst?

A profession in data analytics requires much training and commitment. To excel in the field, data analysts must have certain expertise, and their requirements are mostly technical. The demand for highly skilled data analysts is constantly growing, offering you plenty of opportunities. But, what exactly are the skills you need?

  • SQL, Python, Javascript, R

  • Statistical programming

  • Machine learning

  • Probability and statistics

  • Data management

  • Statistical visualisation

Data has become the new oil. Companies are continuously overwhelmed with data that must be deciphered to create value for their businesses, services, customers, and themselves.

There will never be a scarcity of data in the present or the future, but data experts will be. It is a golden career opportunity for you to explore. Imagine yourself being a character in movies like The Matrix, Iron Man, and Interstellar by having one of the coolest (and most highly paid) jobs in the world. Would you say no to that?

What are you waiting for? Open your door to a brighter future!