Data Analyst Salary In India – A Detailed Exposition
Are you curious about the spectrum of data analyst salaries in India? Data analysis has emerged as one of the most in-demand professions globally. Due to this, data analyst salary in India is far greater than that of other software-related specialists. Therefore, it is anticipated that your future as a Data Analyst will continue to advance provided you have the necessary skill set and are committed to keeping yourself up to date on new developments. This statement is accurate, particularly when we consider that data analyst salary in India is influenced directly or indirectly by their level of updating and upskilling.
Data Analysts Are More Sought-after Than Ever
Naturally, this produces and contributes to a growing amount of data, necessitating that there is a need for an individual who can analyze massive amounts of data and assist in making sense of it.
As a result, during the past several years, there has been considerable growth in the buzz surrounding the position of a data analyst. Of course, when you learn more about what a data analyst does and what their potential salaries in Pune, Delhi, Chennai, or Hyderabad may be, you’ll probably come to understand how in-demand this position is, at least in terms of the employment market in India. This is the perfect time to leverage the market demand and upskill to get the most coveted job positions as data analysts.
Let’s examine who a data analyst is specifically and what the average typical data analyst salary is in India.
What is Data Analysis?
Data analysis is a thorough procedure for gathering usable data and analyzing it to provide a more trustworthy decision-making mechanism for a company or the objective of an organization.
The process starts with exploiting data and moves through interpretation, analysis, and, finally, action.
To make an educated choice for your organization, data may be analyzed in a variety of ways. Each form of analysis has a unique goal and technique. Four categories may be made out of it:
Descriptive Analytics
It’s the approach that emphasizes numerical knowledge. It answers the question,” What happened?”. It is used to surmise a particular set of information collected. Moreover, it is regarded as a comparatively simpler form of data analysis and is meant to shed light on historical data and trends dominating the market without delving too deep into the information obtained.
Diagnostic Analytics
Unlike the descriptive approach, which asks” why?” This analytics helps assist in identifying the origin of a beneficial or undesirable occurrence.
Predictive Analytics
Utilizing data for analysis in the future is possible with this kind of analysis. To address the question “what will happen,” you will, as the name implies, forecast future patterns and trends using the data you collect.
Prescriptive Analytics
This kind of analysis focuses on taking strategic actions for your company decisions that are supported by statistical data, unambiguous facts, and visual data. This type of examination shouldn’t be focused on feelings or what you see. It differs from predictive analysis in that it requires machine learning and practical approaches to get a firm conclusion. A forecast is not necessary; statistical procedures are.
What Do Data Analysts Do? Who Are They?
While some people are naturally interested, others are eager to ask questions and then research the solutions. They gather a lot of data, glean insights that are helpful to them, and solve the issue.
An astute individual who collects information both descriptive and analytical for the business sector and strives to arrive at a company’s strategic decision is referred to as a data analyst. However, data analysis is more than merely adding and subtracting numbers or noticing facts. The procedure must be effective and efficient to arrive at the most informed decision feasible.
A data analyst utilizes data to get knowledge about particular subjects. Typically, data analysts locate survey respondents and compile the necessary data during the survey procedure. The information is subsequently evaluated and shown via charts or reports, for example. Additionally, data analysts can save their survey results in online databases.
Candidates for data analyst positions must have experience with MS Excel, Microsoft Access, Powerpoint, and SQL databases. To maintain an open channel of communication with the businesses they deal with, data analysts also need to be strong communicators. To accomplish the objectives stated by all parties, data analysts should have been able to collaborate inside with clients, managers, and supervisors. A data analyst should be eager to put in a lot of effort for the benefit of their employer.
Data analysts must be able to successfully convey such knowledge to all people concerned, including coworkers, business & management teams, customers, corporate partners, etc., once they have interpreted the hidden information from massive datasets. The demand has led to one of the highest data analyst salaries in India.
As a result, there are five processes in the process of performing as a data analyst.
Classify
Finding the issues a company is trying to address is the first stage in the analyst process. The analyst will categorize the what’s, why’s, and hows of the questions.
Assemble
The next step is to locate the data. Getting data is crucial for answering your queries. For instance, using primary sources like firm data or gathering information from secondary sources like magazines or online news sites, etc.
Clean
Your acquired data has to be proofread just like any other set of data does. You must remove any inconsistencies, duplication, or extraneous material from the information you have gathered.
Analyze
Analyzing or interpreting data is crucial before the last step. In this stage, an analyst searches the collected data for trends, data patterns, and connected factors that might be used to conclude.
Interpret
Making things happen is the final stage. It is now or never for the analyst to conclude from the collected, cleaned, and examined data.
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The Skills Needed for the Position of Data Analyst
Mathematics & Statistics
Rational thinking in decision-making is essential to how you approach any challenge. You need to use math and statistics to be capable to make judgments objectively. It’s important to look for trends, categorize data, and make predictions based on historical data. To find the optimal answer, you will be required to apply algorithms for categorization, segmentation, and forecasting, and statistics and mathematics will prove in handy here.
Technical Skills
By combining your mathematical talents with domain information, you’ll find and resolve a difficulty. However, most firms don’t seem to be as simple. it’s essential that you simply learn the way to use tools like R, Python, SQL, etc. since you may get to work with knowledge sets that are well on the far side of your capability for calculation. this may enable you to repeat your ways and structure solutions on an oversized scale.
Solid Domain Understanding
Knowledge of information analytics is useful in finding problems. They must comprehend the components in an organization, the levers they might be able to pull to cause a substantial improvement, and the both external and internal forces influencing its expansion to model all essential decisions. f you would like to figure as a knowledge analyst, business information is one of the foremost necessary abilities to possess. It also has a direct influence on data analyst salary in India.
Soft Skills
The ability to explain your approach to the stakeholders using the most straightforward and clear manner is the very last but certainly not the least important data analytics talent. Although they might not be familiar with Statistics, root mean square error or your categorization approach, your soft skills will still be useful. It becomes crucial to communicate effectively and to use excellent visualization tools like Tableau, QlikView, etc.
Data Analyst Salary in India
The pay structure for data analyst salary in India might range from ₹342,363 to ₹1,750,000 per year.
The need for a data analyst has evolved as a result of the massive growth in data compared to earlier years. As a result, a data analyst paying for a newcomer in India can be a decent place to start. It should be emphasized that a data analyst’s pay is influenced by a wide range of criteria, including experience, abilities, location, and company.
Factors Influencing Data Analyst Salary in India
Various factors might influence data analyst salary in India. Let’s look at some major salary influencing factors:
Experience
Your amount of experience may have a big influence on your income in many areas. Particularly in the case of data analysts, where both formal education and practical experience are essential, the average data analyst salary in India with 2 years of experience is 3.8 Lakhs, whereas someone with 3-4 years of experience makes 5.2 Lakhs, according to the Ambition box. For new hires, the average annual compensation for a data analyst is roughly 1.9 Lakhs.
The amount of experience you have will have a big impact on how much money you can make. For example, entry-level project managers start off earning 15,000–20,000 less than entry-level data analysts. As your career progresses, this slope improves.
Location
Certain cities will offer much higher salaries for data analysts than others. Your pay may rise by 25% to 35% if you work in Bangalore or Pune. The remuneration of your project manager may be multiplied by where you live and work.
Employees’ pay in their locality, including their city, state, or even nation, is determined by the normal market price. The employee’s degree of experience and competence as well as the compensation concept of the business are other factors.
Let’s say you reside in Coimbatore but are given a job as a data analyst at a firm with headquarters in Bangalore. Instead of 4.9 lakhs, you could be given 2.7 lacks (the average income in that region).
Education
If you want to work as a data analyst, concentrating your studies in computer science, math, or statics may help you stand out to potential employers. Various online bachelor’s programs provide flexible scheduling, enabling you to accommodate your studies around other obligations.
One of the variables that can affect a project manager’s pay is this. As a result, an applicant with a bachelor’s degree will be given less money than an applicant with a master’s or doctorate.
Company-type
Compensation ranges with each pay grade are often included in pay scales, showing that there is a minimum and maximum salary range with each pay level. To create compensation plans, businesses look at both internal and external pay data. For instance, the remuneration for a data analyst at Google might range from 2.8 to 60 lakhs.
Skills
You must possess knowledge of the relevant languages and technology used for handling data in addition to having a Master’s degree to land a position with such a high salary.
- Python familiarity is a crucial qualification. Python salary alone in India gives 10 Lakhs annually.
- When you know both Big Data and Data Science, your compensation as a data analyst in India rises by 26% compared to when you only know one of the disciplines.
- While SAS specialists may expect to make between $9 and $10.8 lakhs, SPSS experts can expect to make approximately 7.3 lakhs.
- In India, the remuneration for machine learning professionals might rise to 17 lakhs annually. It ranks among the highest in this profession when you study ML and Python.
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Salary Ranges for Similar Positions to Data Analyst
In comparison to data analyst salary in India, let’s look at the typical wages of comparable occupations.
- India’s software engineers make an average of ₹514,537.
- India’s average yearly wage for a business analyst is ₹607,736.
- India’s average yearly wage for data scientists is ₹813,042.
- India’s average yearly income for a Python developer is ₹555,776.
- The average ML Engineer salary in India is ₹956,000.
Key Motivators for Becoming a Data Analyst
Extremely Popular Field
Among the most in-demand professions for 2022 is data analysis. India ranks as the second major source of employment for data scientists after the United States. Data analyst salary in India is notably high due to several factors, including demand.
Diverse & Highly Paid Roles
Data analysts are in high demand, and there are plenty of career opportunities available.
Changing Workplace Environment
Future workplaces will be shaped by the data analyst. A growing number of repetitive and manual operations are being mechanized due to the development of artificial intelligence and robots.
Raising the Bar for Products
By utilizing machine learning, organizations are now able to effectively customize their offerings and enhance customer experiences.
Assisting the Globe
The healthcare sector has transformed thanks to predictive analytics and machine learning.
Job Responsibilities of Data Analysts
Analyzing Patterns and Trends
To assist firms to make strategic decisions, data analysts must foresee and anticipate what may occur in the future. In this situation, a data analyst must recognize the historical trends. He must also analyze the trends to come up with particular recommendations.
Designing and Producing Data Reports
The primary need for a company’s decision-making process is the insights that a data analyst provides. The data report must be designed by data analysts to be extremely simple for the decision-maker to grasp while reading it. There are several methods to show data, including pie charts, graphs, statistics, diagrams, and many more. Depending on the type of data being reported, it is also possible to present data as a table.
Getting insightful information from the Data
To help the companies, the data analysts would need to extract practical and significant insights from the data bundle. The organization will be able to utilize these valuable and original insights to decide what course of action is best for the development of its business.
Data Gathering, Processing, and Summarizing
A data analyst must first get the data, process it with the necessary tools, and then summarise it for easy understanding. The data that has been condensed can reveal a significant amount about the trends and patterns that will be utilized to anticipate and predict the future. Data analyst salary in India is contingent upon all obligations being met.
Truth vs. Myths
Let’s go on and dispel some misconceptions about what it’s like to be a data analyst:
Myth 1: Mathematical Masters are Data Analysts
This may have been accurate in the past, but now that more advanced technologies are available, there are greater chances than ever for those without expertise in mathematics to master analytics.
Myth 2: Analytics are Time-consuming
Most businesses decide upon data analytics because they believe it would be too time-consuming and leave them with very little time for the real task. That’s not typically the case, though. It’s rather easy to measure such indicators if you know which ones to pay attention to and how you can monitor them in your tools. Based on such measurements, you will know exactly where to look for them and how to adjust your operations.
Myth 3: Every Measure Must be Reported
Well, the choice is yours. You can choose to devote all of your time to report on the various metrics you come across. There is a limitless quantity of data, and if you keep inventing metrics for analysis, you will find yourself in an unending cycle.
Myth 4: Analytics won’t Provide you with any New Information
You shouldn’t assume that anything is real only because you believe you can predict how your campaign will turn out. The data analyst examines the kinds of content and distribution networks that are effective for each campaign that your company launches.
Frequently Asked Questions
Q1. What is the average data analyst salary in India?
Data analyst salary in India is typically INR 4.3 lakhs rupees ($35.8 thousand) a year in compensation.
Q2. How does experience affect the data analyst salary in India?
The average annual compensation for an entry-level data analyst is INR 4.4 lakhs for individuals who have less than three years of professional experience. While an accomplished Data Analyst having 10-20 years of experience gets an average compensation of INR 8.6 lakhs annually, a mid-career Data Analyst with 4–9 years of experience makes an average pay of INR 6.9 lakhs annually.
Q3. What are some ways data analysts may raise their pay?
There are several strategies to raise your compensation as a data analyst. Employer switch: Take into account a career change to a different company that will pay more for your talents.
Education Level: If they pursue higher degrees, they might be able to make progress in their careers and increase their income.
Experience in management: If you are a data analyst who supervises less experienced data analysts, this experience may boost your chance of earning more.
Q4. Which Data Analyst positions offer the best pay?
According to published salary, the top 5 Data Analyst positions are as follows:
- Senior Analyst – ₹27.0lakhs per year
- Lead Consultant – ₹24.0lakhs per year
- Retail Data Analyst – ₹21.0lakhs per year
- Analyst – ₹20.0lakhs per year
- Big Data Analyst – ₹19.0lakhs per year
Conclusion
Most firms work with enormous volumes of data. Any organization you choose will show you how strong it depends on data to maintain its success. And for this good reason, businesses need to hire data analysts that can work with massive volumes of information. As a result, data analyst salary in India is on the rise like never before.
We hope you enjoyed reading about the data analyst salary range and the factors contributing to it in the Indian context. These figures are only estimates. Your income is mostly determined by how well you use your abilities, how quickly you develop within the company, and how quickly you expand.
