Data isn’t something that we are dealing with in recent times. But, today, the extent to which data is being used is insane. It is present in every possible field that one can think of. But what is to be noted is that most of this data is raw and has to be processed to obtain useful information. It is where data analysts come in handy. Not many are aware of what data analysts do, their responsibilities, the background required, and so on. A data analyst salary is another area that garners attention from every corner of the world.
Data analysts are some of the most sought-after professionals in the industry. The reason is simple – data is enormous, and it requires processing to make better decisions. Gone are the days when people used to deal with data in the form of megabytes and gigabytes. Now is the era of petabytes, Exabytes, and Zettabytes. Thus, the demand for data analysts is higher than ever. If one thinks of exploring Data analyst as a career opportunity, it becomes critical to know about this field in depth. Let’s get started.
Starting with the basics – what exactly is data analysis? In simple words, it is nothing but filtering the information. With so much data available, not everything is essential from the company’s point of view. Hence, sifting through this data by identifying the trends and patterns is what data analysis all about. The filtered data/information so obtained helps the companies make better decisions. The professionals who handle this task of analyzing data are data analysts.
What is the difference between a data analyst and a data scientist?
Many tend to use a data analyst and a data scientist interchangeably. However, the two are different from each other. A data analyst analyses the information to be able to draw meaningful conclusions. On the other hand, data scientists have a different set of roles to perform. They are engaged in more advanced capabilities like predictive analysis, data modeling, machine learning, and many more. But, the fact that both data analysts and data scientists do share some roles and responsibilities in common cannot be neglected. A data analyst salary is also different from the salary which a data scientist draws.
Duties of a data analyst
- Wondering what a data analyst would be doing daily? Well, here’s a list of everyday duties as far as a data analyst is concerned
- Collect data from as many sources as possible. Also, come up with new collection techniques.
- Explore all kinds of data, and if specific mechanisms are required to explore data that is structured, semi-structured, unstructured, then create the necessary tools.
- Pay special attention to confidential information and handle it with precision.
- Manage metadata
- Access the quality of the data.
- Identify trends and patterns in the data.
- Create a data dashboard.
- Solve business problems using data
- Conclude / meaningful insights after filtering the data.
- Report the results back to the leaders of the company.
- Define new processes for analyzing the data.
- Working in teams to achieve business needs.
What is the qualification required to become a Data analyst?
Generally, companies look for people who have a degree in any of the following fields –
- Computer science
Also, doing certifications in these fields makes it easy to stand out from the rest.
What skills do data analysts require?
It is quite evident for companies to look for some skills in people before hiring them. So, for data analysts, the hard skills that companies usually see are –
- Data mining
- Statistical modeling
- Data collection
- Database management
- Data analysis
- Report generation, etc.
The process of selecting the rate candidate is incomplete without looking at their soft skills. Key skills include good communication, analytical ability, critical ability, ability to solve problems, teamwork, time management, etc.
A data analyst’s salary depends a lot on the skills possessed.
Who could be the employers?
As a data analyst, one can end up working in any of the following-marketing firms, insurance companies, educational institutions, consulting firms, media, companies related to pharmaceuticals, Tele-communication, information technology, and a lot more.
Data analyst salary
There’s a shortage of data analysts across the globe. It is why companies have to pay a handsome salary to attract candidates. In the United States, a data analyst’s average salary with experience of about 4-5 years is somewhere between $70000 and $80000 a year.
Talking about India, an experience of up to 4 years can enable one to earn about 6-8 lakhs a year. With an increase in experience, the salary will surely rise exponentially. At an entry-level, one can expect a salary of about 4-5 lakhs a year.
Also, what is to be noted is that this salary depends on several factors like location, experience in terms of the number of years, skills possessed, the company, to name a few.
If the entire job description of a data analyst interests you and if you possess the right skills and dedication, then going down this road is a smart decision, without a doubt. The profile is exciting and demands a lot of commitment at the same time. The data analyst salary is attractive, and with experience, one will indeed have a huge bank balance.