An IBM prediction stated that in 2020, there would be an increase in the number of jobs for data professionals to 2,720,000. This means that the need for data analysts is higher than the supply.
Economics has shown us that where demand outweighs supply, the price goes up. Therefore, it is not erroneous to state that companies are willing to pay a premium to have an in-house data analyst. However, we know that money isn’t a motivating factor for everyone; thus, we prepared compelling reasons to pursue a data analytics career.
What Is Data Analytics?
Data analytics is analyzing raw data to find trends and answers to questions. It encompasses different techniques and components and uses them in providing a clear picture.
It involves descriptive analytics and advanced analytics and uses machine learning to arrive at solutions. Anyone who wants to thrive as a business analyst must know about data analytics. This is because data analytics helps businesses improve operations efficiency and increase revenue.
Also, the information analyzed helps in optimizing marketing campaigns. Furthermore, businesses with data analysts respond faster to market trends and have an advantage over their competitors.
5 Compelling Reasons To Become a Data Analyst
As mentioned earlier, data analytics is a booming industry that offers more positives than negatives. Below, we look at five compelling reasons to pursue a career in data analytics.
It Improves Problem Solving Skills
According to SAS, data analytics at its heart is about solving problems and preferring solutions. The only catch is that the issues are much bigger than what you are used to. It covers businesses and their staff and customers. The ability to effectively solve problems is always a welcomed skill.
It serves you well in your career as a data analyst and your everyday life. Also, it would improve your ability to process different information and draw the most valuable conclusion. Furthermore, it would grow your math skills as you’ll learn and improve in numerical analysis. Graph theory, linear algebra, and applied statistics are also things you’ll know.
It Provides Freelancing Opportunity
Some people love the nine-to-five life, with an office space where they get to meet and mingle with people daily. But there are those who prefer not to tie themselves to one employer or go to an office every day. If you belong to the second category, then a career in data analytics might just be what you need.
With the changes the world experienced in 2020, data analytics is one of the career paths that allow you to work as a freelancer and remotely. Thus, no matter your location in the world, as long as you have a stable internet connection, you can begin a career in this field.
Keep in mind that analytics is everywhere, so you’re not restricted to one sector. Be it in the finance world, aviation, or government parastatals; there’s an opportunity for you. The bottom line is several organizations are looking for someone to look into their data and improve their efficiency. Hence, there’s no better time to pursue a career in data analytics than now.
The Salary is Quite Attractive
As mentioned earlier, data analytics is a very lucrative career path that always leaves you smiling at the bank. In the United States, the average salary range per year for data analysts is over $70 000. Note that the years of experience you have determines how much you earn. Another determinant is the number of certifications you have. Thus, if you want to pursue a career in this field, engage in continuous learning and get more certificates.
It Makes You a Decision Maker
Data analysts often find themselves in positions where they have to make or influence a company’s decisions. This is because, in today’s world, data is crucial for all major decisions companies take. The information analyzed by data analysts influences every new acquisition, sales pitch, give-back campaigns, and advert campaigns.
Thus, a data analyst is not just another face in the crowd. You’ll get to make useful inputs into the company’s growth and have your voice heard. Being a decision-maker applies to both in-house analysts and freelancers. Furthermore, you’ll become an effective communicator as you explain your findings and projections.
There’s a High Demand
We started by saying there’s a demand for data analysts, and it remains true. One thing most people fear is losing their jobs. No one wants to go through the rigorous process of updating CVs/resumes and attending interviews. This is why data analytics is so important.
Companies need data analysts more than ever before. The world today is a data-collecting system, and someone needs to process the limitless information being gathered. Also, since organizations spend millions of dollars gathering data, they can’t let it waste.
The only people who can effectively study and analyze this information are those in the data analytics field. So, there’s no better time than now to pursue a career in data analytics.
Other reasons why you should consider a career in this field are:
- It is easy to start with many available resources online.
- It teaches you multiple programming languages, so you’re not limited to one thing.
- You’ll get to work with recognized brands.
- You’ll improve your Microsoft Excel skills.
- You can be a part of a data podcast.
No matter the time we live in, data analytics will always be in demand. There would always be a need for companies to gain insights into trends and have workable solutions to problems. Thus, data analytics would never go stale as the only way for it is forward. So, why not begin your career as a data analyst today!