Every year for the past three years, analytics has been counted among the world’s hottest jobs with the brightest prospects. The Harvard Business Review called it the ‘Sexiest Job of the 21st Century’ and CNN called it the ‘Best New Job in America’ in 2014. LinkedIn recently conducted a study on the ‘Top Skills that can get you Hired in 2016’ and Analytics was #2 on the list after cloud computing.
Interestingly enough, analytics is the only skill on that list that is consistently ranked in the top 4 across all the countries that were analyzed.
All this tells us that we are living in an increasingly data-driven world where people who understand the language of data are becoming more and more valuable. Here are a few more reasons why you (i.e. any professional) should jump into analytics.
1. Analytics = Big bucks
Analytics pays extremely well. Data scientists command salaries that are higher than that of finance, marketing or IT professionals. The global average salary for data scientists is upwards of USD $100,000, while In India, average salaries range between 10 and 12 lakhs per annum depending on the company and its location. Entry level salaries in analytics have grown by more than 200% in the last 7-8 years and can fall anywhere between 6.5 and 9 lakhs. You can read the comprehensive Analytics and Big Data Salary Report (2016) to better understand the Indian analytics job market.
2. Analytics = Interesting work
Analytics is like detective work. Just as a detective sifts through tons of information to collect small clues, a data scientist/analyst combs through reams of data in search of evidence that can shed light on the problem at hand, and illuminate the bigger picture. It is some of the most challenging and mentally stimulating work you can do, and is a huge reason why thousands of software professionals are upgrading their analytics and big data skillsets.
3. Analytics = Work-life balance
What can be more relaxing than sitting on a beach all day? Well, being a data scientist sure comes close! A recent study by Glassdoor listed Data Science as the job with the best work-life balance. And guess which job came second? That of a life guard. Analytics jobs provide a lot of flexibility with most projects lasting between 1 and 6 months. If managed well, most projects do not require firefighting on the scale of an IT or Operations project.
Work-life balance is therefore one of the major reasons why analytics is a preferred career option for women and men looking for flexibility.
4. Analytics = Variety at work
Analytics involves performing statistical analysis on data to generate business insights. Analytics is a universal language, which means that once you master the core skills, you can apply them in various industries, across a spectrum of functions, and for diverse business problems.
This allows the data scientist to work in retail one day and in telecom the next, and to grapple with HR and marketing problems with equal ease. The cross-functional applicability of analytics is what professionals find most appealing. If you’re someone who is easily bored, and is always on the lookout for variety, then analytics is the perfect career for you.
5. Analytics = Better decisions
With business becoming increasingly data dependent and driven, analytics is being applied in all areas of an organization. Whether you are an HR professional, a marketing maven or a finance geek, being skilled in generating insights from data, will make you better in your field of choice.
It therefore makes ample sense for any manager today to jump into analytics, regardless of which domain they are managing.
So why wait? The time is right and the time is now. Take that leap into analytics; you won’t regret it!
If you are interested in figuring out which learning path is best for you, click here.