First of all, the question that comes to mind is “What is Data analytics?” The term data analytics basically came from “data processing”. It’s the science of analyzing the raw data and new trends, and make conclusions about the information they contain. It’s like playing with data that is unstructured, convert it into something meaningful by analyzing the data, and then converting meaningful insights into solutions that can be used by businesses to generate more revenue. The scope of data analytics is getting bigger day by day. Its jobs are predicted to be 3 times more than other technical jobs in the future.
A data analyst should have proficiency in numerical and mathematical skills as data analytics is related to numbers. So, one should be an expert at calculating, analyzing, and organizing data. Thinking and analytical skills are also crucial for assembling, sorting, and analyzing raw data. Moreover, computer, technical skills, and grip on Python are favorable for the analyst.
Future of Data Analytics
Let’s have an insight into the future trends of Data Analysis. Data analytics is said to grow bigger in the future. There is a real demand for data analytics in business because they want to analyze their unstructured data and convert it into something worthy to increase revenue and control costs. It is predicted that more than 33% of large companies will have data analytics by 2023 and they will be performing decision intelligence, comprising decision modeling.
Data analysis is not just a catchy phrase, it’s a lot more than that. It can change the whole world’s economy. Entrepreneurs all around the world are mining the data, analyzing it, and using that to change the business rules to conquer the business world. Data analytics can be seen in AI, Blockchain, DevOps, Fintech, HRTech, and SaaS.
The pandemic has shifted the world’s economy towards machine learning and data intelligence. There is a far-reaching change in the economy and the companies came to know the value of data-driven business strategies which causes a great increase in employment rate and data analytics is its epicenter. In data analytics, the data is presented in simple visual formats for the sake of providing benefit to the businesses by letting them know how to make efficient business decisions. As business intelligence is growing rapidly it gives rise to the demand for data analytics in every field. One of the research highlighted that the business that has used data analytics in making business decisions and converting their unstructured data into useful information 23 times greater chances of gaining customers, 6 times more chances of reduction in the customer’s churn, and 19 times greater chances of getting more revenue and earn a profit. That’s why the upcoming era will demand data analytics because businesses are willing to earn more and more.
Data analytics as a career
Is Data analytics a good career? It is one of the trendiest careers in the world. Data analysts take a huge amount of data, do the analysis to identify trends, make predictions, and mine information to provide assistance for taking better business decisions. Adopting data analytics as a career mainly depends on the employer. If you are thinking to adopt this career then you should know that data analysts work at investment banks, investment funds, and private equity funds and earn handsome salaries. They are also been employed in the healthcare industry, big insurance firms, credit agencies, technology organizations. Large tech companies such as Facebook and Google are appointing data analysts as well. Data analysts are given employment because they also do advertising and internal analysis. Data analysts are also named as “the information scientists”. This is because they work with the proprietary database of companies. They also work with fundamental database frames and gain proficiency in other technical areas like data development and data infrastructure building. Generally, data analysts have vibrant skills in working with numbers and details. Moreover, managing multiple tasks, organizing data flow and data programs are also some tasks that data analysts can perform confidently. They also come up with brilliant presentation skills for presenting their analysis of data.
Want to study Data Analytics?
What you require to be a data analyst? Want to study Data Analytics in the best universities abroad? Advice hub is the best platform for you that provides guidance, scholarship consultancy, accommodation services, supplementary materials, and pre-departure. They provide immigration consultancy in the following countries:
- Study in Canada
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- Study in Malaysia
- Study in Turkey
- Study in Germany
You can get the best consultancy from the Edvise hub and study data analytics in these countries.
Moreover, Data analytics requires good python and mathematical skills, for which experts at platforms like Assignment Help are available to teach you. These tutors are highly qualified and experienced who give their best to deliver top-notch services at affordable prices. Online tutors are available round the clock to provide expert guidance at any time.
