5 Reasons To Pursue Data Analytics As A CareerJune 29, 2022 2022-06-29 10:38
5 Reasons To Pursue Data Analytics As A Career
5 Reasons To Pursue Data Analytics As A Career
Table of Content:
Several companies are looking forward to harnessing the immense potential of big data analytics. They are adapting to the use of data in order to predict market trends, and consumer behaviour and to improvise on their products or amplify their services. It is being used in multiple industries because of wide range of applications. Companies can use data analytics to make better business decisions based on factors such as sales, marketing, finance, etc. Data analytics can be used to track investments that perform well, compare their statistics to other companies, try to understand the trends in stock prices, etc.
Marketing Companies can better understand which of their campaigns worked well based on data collected like website usage, social media performance, ad campaign performance, etc. Pursuing data analytics does not involve sitting all day long studying numbers, but it branches out into distinct types like descriptive analytics, diagnostic analytics and predictive analytics to choose from.
Descriptive Analytics is based on the performance history of a business. A data analyst will study customer’ behaviour and choices while buying products from the brand and predict the sustainability of the business or how well it is doing. Diagnostic Analytics is complex analytics that tries to determine why certain products or commodities sell better than others.
It utilizes techniques such as drill-down, data discovery, data mining and correlations to find out why particular products are more popular than others. It involves studying the product’s unique characteristics, offers that were available, packaging, time of day it was sold, etc. Predictive Analysis combines the qualities of previous two analyses in order to predict patterns in customer behaviour. It includes choosing the most plausible business decision to take next such as where to open the next store, what should be the next product in the line, etc.
The Main 5 Reasons You Should Pursue Career in Data Analytics are:
1. You gain a highly analytical skillset.
When you pursue data analytics, you gain expertise in solving complex problems that companies face. These problems revolve around questions like why a company isn’t performing well, which products work and which don’t and the ability of the company to thrive in the coming years as well. Data Analytics will teach you how to think analytically while solving these problems, good critical thinking skills and also the right way to approach problems. You will gain the ability to communicate complex information to people who don’t have expertise in the field.
2. Data Analytics is consistently growing as a field
Data Analysts are in constant demand owing to the fact that several companies are looking forward to leveraging the potential of big data to grow their business. In general, as the demand for data analysts is increasing, there seems to be a shortage of professionals in the space at the same time. When you pursue data analytics, you develop skills which are exclusive to your pursuit and therefore command higher salaries than other professionals and also have the freedom to choose the jobs that they absolutely love.
3.Data Analytics is truly universal in it’s scope
As a data analyst you are open to job opportunities in several industries starting from retail to aviation. You will be able to work at companies throughout the world, research data collected by companies and help them improve their work. The Big Data Industry is booming and now is the best time to pursue Data Analytics as a viable career option.
4. It’s importance is growing manifold
With the amount of data that is available at our fingertips, it is only becoming more important to gain more insights, function better as a company and advertise better based on consumer interest. The impact data can have in bringing about progress in various industries is massive. The value of a data analyst as a professional is sure to go up creating lucrative job opportunities. As with coding, data analytics can be adopted as a common school subject or a discipline in the upcoming years owing to it’s quintessence. After pursuing data analytics, you can work as Financial Analyst, Business Analyst, Product Analyst, Data Scientist, Marketing Analyst, Quantitative Analyst, etc.
5. You get to develop a wide range of skillset
As proved earlier, when you pursue data analytics you gain more knowledge than just working on data and solving related problems. You gain effective communication skills to communicate the importance of a certain pattern of data you’ve observed in contrast to the business decisions that need to be taken. Such skills will be helpful to you at any point in your life. You are given special importance as you will be consulted or your team will be consulted before making crucial decisions that are important for the company.
Data Analytics is slowly becoming an integral part of everyone’s lives. It is used by companies to tailor the content delivered to us among many other things. It is growing to become a component of almost every company or organization. Hence if you have a penchant for data or if you are good at deriving conclusions from pieces of data then you should definitely pursue data analytics.