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Why Data Analytics?

01-01-2021

The concept of ‘big data’ has been making headlines lately. And a rise in media attention has given us dozens of good reasons to study the importance of data analytics. The virtual world is swiftly replacing all that was bricks and mortar since the past couple of decades. If we want to succeed in the technology inspired horizons, we must study both trends and trendsetters. And when we are out to study the trendsetters, how can we ignore data analytics? Right from the renowned MNCs to the new establishments, everyone relies on data to deduce improved strategies.

What is Data analytics?
Data analytics is the science of analyzing raw data to conclude a set of information. Miscellaneous techniques and processes in data analytics are automated into mechanical processes and algorithms working over raw data for end-user consumption. The overall process involves inspecting, cleaning, transforming and templating the data to support conclusive decisions.

What are the reasons to study Data analytics?
Most successful organizations worldwide treat data analytics as a priority. We are precisely aware of the marketplace volatility and market competition. These are the two most unpredictable factors affecting consumer behavior. The topmost organizations are resorting to data analytics to identify the new market opportunities for their goods and services. This signifies clearly that the topnotch data professionals leave a huge and durable influence on company policies and sales strategies

1. Fruitful job opportunities:

The young blokes around the world are willing to explore MNCs that offer comprehensive platforms. And when companies are on the lookout for skillful manpower, they should explicitly collect, interpret and utilize the data. Many companies find it a hurdle to uphold comprehensiveness in the data they could collect. They need workers who specialize in data analytics. And this is visible on the websites like Indeed that the topmost firms need data analysts and consultants. The sector of data analytics is flooded with dynamic employment opportunities waiting to be explored.

2. Attractive remunerations:

The demand for both fresh and seasoned data analysts rises consistently while the supply remains low. And the data analysts are therefore paid delightful compensations worldwide. Surveys suggest that the data analytics professionals are paid approximately 50% higher compensations than their other IT counterparts. The trends continue to swell with more and more startups and bigwigs realizing the importance of data analysis.

3. The pervasive influence of data analytics:

As computers are becoming mandatory across all kinds of industrial units, the recruitment of data analysts is becoming evident. Every sector offers scope for data analytics with qualified data analysts transforming data into conclusions. There would be no sector today which is untouched from data analytics.

4. A broad range of industries and job descriptions:

Most industries have shifted from manual operations to digital data manipulations. And therefore, a qualified data analyst is presented with tons of job opportunities worldwide. Data engineers and data scientists explore the technical facets of data mining and data storage. A data analyst, on the contrary, pulls every bit of relevant data from huge databases to foster quick decisions. A degree in data analytics harmonizes the pursuers with loads of transferable skills including critical thinking, problem-solving, project management and consultative support. One can prefer being a:

  1. Data Engineer
  2. Data Analyst
  3. Metrics and Analytics specialist
  4. Data Analytics consultant
  5. Consumer and market knowledge manager
  6. Chief data officer

5. A Data analyst is a crucial decision-maker in a firm:

Most dynamic guild of manpower feels that they don’t get the desired attention in a company. This is what they find dissatisfactory about the job they pursue. But as a data analytics professional, one can enjoy being at the core of decisions in a firm. Being a crucial part of the business decisions can change hundreds of ideas into significant moves in a topmost organization.

6. Rate of adoption of big data analytics:

Most corporate setups rely on their firm’s presence on social media for effective promotion of their services. The growth dynamics in the 21st century suggest that data analytics is as important as brand popularity and online influence. Therefore, it’s almost impossible to find a firm that doesn’t rely on data analytics. With the rate of adoption continuously increasing, data analytics and data analysts are becoming a formidable workforce.

7. The pace of Data analytics is too swift to overlook:

Surveys find that data analytics has been consistently ranked as the emergent technology. Data analytics is one of the topmost technologies to look for in the next few years. The applications of data analytics span beyond the conventional paradigms. Fraud detection, risk analytics, travel route optimization, expert healthcare, energy expenditure management, optimization of logistics and improvisation of search results are the applications of data analytics.
The industrial units promote their growth prospects using the best of data analytics thus making it the swiftest way to capitalize on. And hence, we would love to welcome a digital future actively populated by data analytics.

8. Data analytics presents excellent freelance opportunities:

Being a freelancer is much beyond just being a super flexible work opportunity. We will soon see that a considerable workforce would love exploring multiple job opportunities. Today, talented manpower looks out for sources they can capitalize on without restricting their freedom of choice. This is what brings an active workforce to freelance opportunities that are full of work-life balance. Data analytics presents us the opportunities that primarily include flexibility and timeliness. Thus, data analysts have hundreds of freelance opportunities with attractive remuneration.

9. Growth of new revenue opportunities:

Revenue generation and ways to generate revenue are the two most important constituents in any occupation. A data analyst becomes an expert in analyzing and implementing the finest bits of data information into good use. Being a data analyst gives us dozens of good avenues to explore and use them to the best of our occupational advantages. And therefore, studying data analytics at a reputable university is one of the best professional availabilities today.