19 Sep 2022 Is Data Analysis a Good Career?
Yes! And I’m going to tell you why.
In our previous publication, we discussed what Data Analysis is and what a Data Analyst does at length. In the post, we painted a pretty clear picture of what the day-to-day of a Data Analyst looks like so you have a better understanding of the role and what is expected of these data professionals.
Now, we will talk a little bit more about why Data Analysts get a lot of buzz. Let’s dive in!
The world’s most successful businesses or organizations place the highest premium on data analysis which informs their decision-making.
With the internet becoming more accessible to netizens in different corners of the world, businesses are now maximizing the technology as not just a tool to glean data on consumer wants and needs but also to figure out the best way to reach existing and prospective customers with their message and offerings. All of this research is made possible by data professionals who own the required skill sets to gather and accurately interpret data for business strategy and growth.
Consequently, entrepreneurs who are fully committed to building scalable businesses are on the hunt for data analysts. However, despite the huge demand for these professionals, there is a substantial gap between qualified data analysts and available data analysis jobs, with the ratio of the former being far lesser than the latter.
It also goes without saying that Data Analysts often contribute to the highest level of decision-making within an organization and are well-compensated for it. More often than not, data analysts also find it easy to pivot into managerial roles.
More Reasons Why You Should Consider a Career in Data Analysis.
I am going to highlight more of the reasons here, so stay with me.
- No prior data knowledge or experience required: Quite frankly, you don’t need to have some special knowledge or experience to begin. If you want it, go for it. All you need, really, is the willingness to learn.
- Pathway into top corporations: If you have dreams of working in a large scale, probably multi-national or global company, Data Analysis could be your sure way in. These large corporations do not take data with levity and many more businesses are beginning to catch up on this too.
- Jobs chase you: Data Analysts are highly sought after professionals. The jobs are there for the taking.
- Unlimited Opportunities: You’re not limited to opportunities within your home country. Data Analysis skills are global.
- Access to multiple industries: Unlike other professionals who are limited to working in specific fields, Data Analysts enjoy working across a variety of industries and sectors. Think of it this way; a surgeon’s place is at the operating room in a hospital. They are constrained to work in the health sector. However, a data analyst enjoys the freedom of moving from one industry to the other. Today, You’ll find them at the Data unit in a big manufacturing company and by tomorrow, they’ve joined the team building a movie streaming platform, helping them to figure out what audiences want to watch and how best to get such content to them.
- Juicy salary packages: Have we spoken about salary? The average salary for a data analyst in the United States is about $63,442/yr and this is according to PayScale. Indeed also cites a similar figure at $65,815/yr.
Did you know that there are other rewarding roles available to Data Analysts?
Perhaps the most exciting thing about being a Data Analyst is the easy access it gives to other job opportunities. That’s right. By becoming a Data Analyst, you are going to enjoy easy access to other roles whenever you want. You can always leverage your knowledge and skills to function in any of the following roles:
- Business Analyst: Business Analysts possess the skills required to identify goals, develop better systems for data collection, and analyze current processes to uncover pain points and areas of improvement in a business or organization.
- Database Analyst: Database Analysts examine, review and understand data using a wide range of tools. They also conduct surveys, plan and update existing data sets in line with an organization’s demands.
- Market Research & Sales Analyst: Their responsibilities involve researching, compiling, and analyzing information on products and market conditions to identify new markets, sales opportunities, and effective sales and marketing strategies.
- Financial Analyst: A financial analyst is a professional whose primary duty is to conduct financial analysis for both internal and external clients. Financial Analysts are often called securities analyst, research analyst, equity analyst, investment analyst, or ratings analyst as well.
- Marketing Analyst: A Marketing Analyst examines data to aid a business’s marketing initiatives. The marketing analyst may use the information they uncover to assist a corporation in making better business decisions, such as boosting sales or improving marketing efforts.
- Advertising Analyst: They perform various analyses on the advertising campaigns of their clients to make sure that advertising goals are met. A marketing analyst typically examines a variety of advertising metrics and makes recommendations.
- Corporate Strategy Analyst: An expert in corporate strategy examines data for the entire organization and offers management advice on practical solutions. The focus of this position might also include mergers and acquisitions.
- Business Product Analyst: The business product analyst advises management on the best pricing for a product based on market considerations having studied the features and aspects of a product.
These are just a few of more niched roles that are available to Data Analysts all over the world. There is no better time to skill up and position yourself for rewarding career opportunities in Data especially with the growing increase in demand for qualified data analysts.