Is Data Analytics a Lucrative Career Choice?

“Is Data Analytics A lucrative career choice?” I would say yes. Because data analysts have a range of skills that will benefit them as well as their employers. Their skills will save them in both their personal and professional lives. Well, you will learn about the same in this article. Also, many people have other questions apart from “Is Data Analytics A lucrative career choice?” like “Is there a way to acquire all Data Analytics (DA) skills at my convenience?”. The answer is yes. You will grasp some bits of details on the same today. 

Benefits of DA for Learners

Many candidates are in line to join a well-reputed training institute to learn data analytics and acquire relevant skills. However, there are a few individuals who still wonder if “Is Data Analytics A lucrative career choice?” Believe it or not, it is one of the most fruitful career paths for learners and businesses. Students of data analytics obtain a range of skills and knowledge that will benefit them in the future. Whereas businesses enjoy a different set of advantages from using data analytics. Let’s first discuss the former and then the latter. 

Make Better Decisions:

Any company adds/removes/changes certain aspects to increase profits. Data analysts play a huge role in suggesting changes to the organization for the improvement of its performance. It means data analysts have the responsibility to perform data analysis and share recommendations for increasing the customer base of a company.  When you can improve the performance of your company using decision-making skills, can you use the same skill to enhance your lifestyle? You can. This is why learning data analytics courses is useful for employees and their employers. 

Boosts Problem-solving Skills:

One of the main reasons for the introduction of data analysis is to solve problems in an organization. Being able to accept challenges and think analytically helps you survive in any aspect of life; professional and personal. When you join a data analytics stream, you are exposed to interesting problems. You can practice the art of analytical thinking and benefit from it in your personal as well as professional life. Is the question “Is Data Analytics A lucrative career choice for a learner?” answered?

High-paying Jobs:

Who doesn’t want a job that pays them well? None. Individuals in the data analytics field earn a higher salary package than the ones in other streams. The data statistics shared by Glassdoor say that a data analyst in Canada has an annual average pay of $70,196.

Growth Opportunities and Job Diversity:

As mentioned previously companies from all sectors are using data analytics to stay in the competition. It means all the companies have data analyst roles for helping them improve their business performance. Finance, education, healthcare, and many more sectors require data analytics to encourage the best decision-making. Multiple specializations are available in data analytics that allow individuals to choose one to thrive in sales, marketing, operations, or any chosen respective field. This definitely answered, “Is Data Analytics A lucrative career choice for an aspiring data analyst?”

It is time to stop feeling stuck in a job role, you can take up data analytics courses and explore new designations within your company. 

High Demand for Data Analysts:

Data is an asset for a company that can impact the journey of an entity. For the same reason, data analytics is in high demand and those who own a certificate in the relevant field, are hired and assigned the responsibility of data analysis and decision-making. Also, if you observe the ads/reels posted by different kinds of companies on social media like Instagram, you’ll understand that companies are testing their marketing strategies and collecting the responses of potential customers and accordingly enhancing their strategies to become leaders in the industry.  This point is an answer to “Is Data Analytics A lucrative career choice for any individual with a passion for learning?”.

Data Analytics Skills Can Be Applied in Day-to-day Life:

Learning data analytics will benefit your life in many ways. For example, your data analytic skill to communicate information with senior management will help you develop your communication skills. Likewise, organizing data in the correct way can give you an idea about planning your budget for the month. 

Benefits of DA for Business

• Improved Decision-Making
• Increased Productivity and Efficiency
• Enhanced Customer Experience
• Improved Risk Management
• Competitive Advantage

Improved Decision-Making:

One of the major benefits of using data analytics in business is improved decision-making. Data analysts derive data-driven and insightful information to help an organization understand its operations, markets, and customers. A data analyst uses data analytics to spot trends, correlations, and patterns which are helpful to him in decision-making and is supported by metrics and data, unlike the guesswork. Data analysts guide businesses to identify new opportunities, reduce risks, cut costs, and boost productivity by the optimization of their strategies and promotion of informed decisions. The reason behind a data analyst making or helping management in making well-informed decisions is the usage of actual analytics and data; the employees who deal with data implement technologies of data analytics to make dependable and transparent decisions. 

Increased Productivity and Efficiency:

If you are a business owner and want to increase the productivity and efficiency of your business, seek help from data analysts to streamline processes, maximize the allocation of resources, and minimize manual labor. Do not worry if you are new to data analytics, the hired employees will streamline the workflows by identifying the bottlenecks to remove duplicate data. That’s because data analysts have the advantage to implement techniques and methodologies of data analytics. The performers of data analytics also identify areas that can be improved in a business. For example, reducing waste, optimizing supply chains, and managing inventory are a few of the ways that are identified to increase productivity.

Enhanced Customer Experience:

A data analyst will use Data analytics to improve the customer experience of a business; that’s because it will give businesses crucial insights into customer preferences, needs, and behavior and enables it to spot and assist the employee in taking actions on areas where it can enhance customer experience like streamline user interface, enhance customer, and lower wait times. Business owners can make use of data analytics and customize their offerings to fulfill their customer needs. Such steps taken by them promote greater customer loyalty and an increased line of users. 

Improved Risk Management:

Let’s understand the role of data analytics in improving risk management in business today. One of your main tasks as a business owner will be to hire data analysts to identify potential risks from collected data that is obtained from various sources and find correlations and patterns in data. The candidates chosen by you for performing data analysis must use data analytics and identify potential online threats, operational risks, and fraud for your business. They will use their skills to utilize data analytics methodologies in assisting the mitigation of potential risks in your business and reviewing data in real-time. Your employees will also contribute to the prevention of reputational damage, and reduce monetary losses, and other unwanted outcomes if they use data analytics and enhance risk management. 

Do not break your head trying to understand how data analytics helps a business to gain a competitive edge. Let me explain, business owners are expected to make data-driven and informed decisions to get a competitive edge over others. They invest their time in understanding their competitor’s activities, consumer behavior, and market trends as it will let them know where they stand in the market, and for that, they will analyze data collected from various sources. This means a business can use this information to improve strategies, spot new opportunities, and set it apart from its competitors. 

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Essential Data Analytics Skills

Every field requires the candidate to possess certain mental and emotional faculties. In the same way, individuals who wish to pursue a career in data analytics must have 7 skills. 

• SQL
• Microsoft Excel
• Critical Thinking
• Python or R
• Data Visualization
• Presentation Skills
• Machine Learning

SQL:

Structured Query Language (SQL) is a programming language, The knowledge to use this programming language for professional purposes is a must for aspiring data analysts. It is usually preferred over Excel as it has the ability to process large datasets. Every data analyst is expected to have the skill to use SQL for managing and storing data alongside relating multiple databases or developing or changing database structures. If you ever paid attention to job portals, you will observe that almost every month companies share details of vacancies in SQL departments. If you are interested in working with big companies and data, acquire knowledge about SQL asap.

Microsoft Excel:

Employees and students usually think of a spreadsheet when they hear the word “Excel”. But the fact is it is not just a spreadsheet for storing data but it is also used for data analysis. It is a fact that many employers suggest their team members use R or Python for handling large chunks of data. However, they recommend using advanced Excel for other critical tasks such as writing Macros or using VBA lookups for quick lighter analytics. Startups and lean companies prefer Excel in the initial stages of their growth. In simple words, you must learn to use Excel to get shortlisted by your dream companies. That being said, don’t forget to acquire skills in one of the programming languages.

Critical Thinking:

Do you think it is easy to find a solution to a problem without figuring out its root causes? It can be easy if you are good at critical thinking. On the other hand, if you believe there is a scope for improvement in your critical thinking abilities, make efforts to progress it. Data analytics revolves around business problems so it is important for you to have the ability to understand not-to-clear situations using critical analytical thinking. Do not worry, if you are interested in developing your mental faculties, join courses that allow you to learn data analytics and related solution-making concepts and exercises. Another way to develop your mental faculties is to ask yourself questions (why, what, where, how, when) to obtain clarity rather than getting carried away with your emotions.  

Python or R:

R or Python are better at performing tasks that are usually done by Excel. For example, when an Excel user can’t handle large volumes of data, the user of Python, SQL, or R comes into the picture. These statistical programming languages are used for performing predictive analytics and advanced analysis of big data sets. Python and R are standard industry programming languages. If you want to stand among the rest, you must learn one of these two languages. That doesn’t mean you must not learn both. They are usually free and can be learned from reliable training institutes. Acquiring one language will help you carry out accurate analysis. What does an employer need from a data analyst apart from accurate analysis and professional behavior? None. A few analysts prefer learning R to explore data sets and perform ad-hoc analysis.

Data Visualization:

 Professional environments will require the employees to share their points regarding the selected topics. It can be difficult to survive in the industry if you do not have the skill to convey your thoughts in an easy manner. This is when you must pay attention to options that present data in a simple way. Data visualization is a way to get your point across and keep your audience engaged. That being said, it must be done efficiently to avoid negative outcomes. This is why it is crucial to know to use graphs, charts, and other visual options to communicate your findings with the concerned departments. Tableau’s data visualization tool is considered one of the best industry analytics software and user-friendly software.

Presentation Skills:

How you present yourself, your ideas, and your company matters the most to your employer. There are other things to work on apart from data visualization. It is okay not to be a perfect presenter. But it is not to remain a mediocre communicator. Use practice to get better at presentation skills. One tip would be to keep the audience in mind and prepare ways to share your findings with them. There is no point in sharing any piece of information with people if they don’t understand your intention. 

Machine Learning:

Predictive analytics and artificial intelligence are some of the trending topics in the data science field, machine learning is one of the important tools of an analyst. It may not be necessary for every data analyst to learn machine learning. However, having knowledge about its concepts will be helpful in moving forward in the chosen field. Please note that you must first learn programming languages to understand machine learning at a faster pace. 

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Data Analytics Courses

The next step after learning the answer to “Is Data Analytics A lucrative career choice?” is to find sources that can help you become a data analyst. Though there are hundreds of training programs on data analytics, only a few are reliable and useful for an individual to grasp the concepts in the simplest way. 

• Data Analytics Master Course – IIM SKILLS
• The Complete Introduction to Data Analytics with Tableau – Udemy
• Postgraduate Program In Data Science And Analytics – Imarticus

1. Data Analytics Course – IIM SKILLS

IIM SKILLS is an institute with a growing number of passionate learners. It is a platform established to help aspiring professionals with crash courses. It has a record of transforming many students into writers, digital marketers, finance professionals, data analysts, and entrepreneurs. It cares for the people who are trying hard to locate an answer to “Is Data Analytics A lucrative career choice“. This is why it has introduced the “Data Analytics Master Course”.

Course curriculum includes application of Excel, SQL, VBA, Tableau, Power BI, Python, and Alteryx to data analytics. It also conducts sessions for educating students on an industry’s standard programming language i.e., R in data science. 

Course highlights include master certification, lifetime access to LMS, 24×7 support, practical learning, and tools-driven training. 

Course modules in Detail

• The fee of the course is ₹49,900 + Taxes.
• The students can complete the Data Analytics Master Course in 6 months.

• Professional Courses from IIM SKILLS
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• CAT Coaching
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Contact: +919580740740, [email protected]

The Complete Introduction to Data Analytics with Tableau – Udemy:

• If you want to learn a data analytics course at your own pace and comfort, choose Udemy. It is the most used learning medium by students and working professionals. Learners from all over the globe can access this platform and acquire the desired skills and receive digital certificates. 
• “The Complete Introduction to Data Analytics with Tableau” is a program for students intending to learn about the usage of Tableau with the help of realistic analytics projects. Also, this course is useful for acquiring knowledge about data visualization. 
• The course curriculum includes the basics of Tableau, sales & profit analytics, HR analytics, sales agent tracker, shipping analytics, stock price analytics, database concepts, Tableau stories, data optimization, and a project. 
• Individuals who want to buy this course must have minimum knowledge about computers and the Internet. You can pay a price of ₹3,199 to fully access the contents of the course curriculum. The content is self-paced so you don’t have to worry about deadlines or the last date for completion. 

Postgraduate Program In Data Science And Analytics – Imarticus:

•  Imarticus is one of the digital education providers. It has chosen many domains and created courses accordingly. Many programs are available on analytics, finance, marketing, technology, and management.  Over 400 corporations are hiring partners to help students fulfill their dreams. 
• This program is considered one of the best data analytics courses. Learners can relieve themselves from worrying about jobs because Imarticus takes care of its student’s career placement aspect. live learning modules are made available for the students to clear their doubts on the spot. Real-world projects, KPMG India COE Organised Hackathons, and Dedicated Career Services are the highlights of the course. 
• The course curriculum includes foundation – basics of programming, core track – Excel, SQL, Python programming, use of statistics in data science, machine learning, and data visualization with Power BI and Tableau. 
• The specialization track contains an advanced ML track, capstone project, and career services. Students get the chance to work on a few projects; targeted marketing, heart-disease prediction, vaccine prediction, taxi-fare prediction, climate change analysis, product pricing, property value prediction, and vehicular performance prediction.
• You can access the course after the fee payment of ₹2,25,000. Do you have 6 months to learn data analytics? Join this program now!

Conclusion

Thousands of students and professionals are showing interest in learning data analytics. Because they have found the answer to “Is Data Analytics A lucrative career choice”. The skills learned in data analytics courses will benefit both employees and employers. Employees can apply the brushed-up mental faculties like decision-making and problem-solving in their day-to-day life. Whereas employers can utilize the employees’ skill set for the improvement of their businesses. 

• Skills of efficient data analysts
•  SQL
• Microsoft Excel
• Critical Thinking
• Python or R
• Data Visualization
• Presentation Skills
• Machine Learning

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FAQs

Q. What skills does an efficient data analyst have?

• Individuals working in the data science and data analytics fields must possess certain qualities and skills to go ahead in the future. If you are an aspiring data analyst, be sure to gain and develop these skills.
• SQL
• Microsoft Excel
• Critical Thinking
• Python or R
• Data Visualization
• Presentation Skills
• Machine Learning

Q. Does data analytics only benefit businesses?

No. Data analysts equally gain from possessing the relevant skills because they can apply some of them in real life like problem-solving and decision-making. Whereas a few skills like SQL, Python, R, and machine learning to climb the corporate ladder. This is one reason why many no longer have a question like “Is Data Analytics A lucrative career choice?”

Q. How may I be supposed to acquire or develop the skills required for the data analytics field?

Many training institutes, online Youtube channels, and books are available to learn crucial data analytics skills. That being said, it is always best to choose instructor-led courses to learn and implement the skills for a better tomorrow.