Introduction

If you want to explore a Data Analytics career, there are excellent opportunities from which you can choose. As organizations, government agencies, and individuals value the power of data, career opportunities in Data Analytics are only getting better. Every organization is looking for data literate experts like Data Scientists, Data Analysts, and Data Engineers to churn their raw datasets into smart business insights and make data-driven decisions.

So, the increasing demand and high-paying job opportunities are ripe for those looking to start a career in Data Analytics. Is Data Analytics a good career? How about a career in Data Analytics after MBA? These are some of the many questions aspirants always have in the back of their minds. Whether you are starting fresh or considering a mid-career switch to Data Analytics, this article deals with the popular Data Analytics careers that you must know.

A) Skills required for Data Analytics Careers

According to a study by IBM, Data Analytics career opportunities in the US alone will increase to around 2 million in 2020 and the average yearly pay of a Data Scientist or Analyst will range from $1,05,000 to $1,17,000. Since the demand is very high, it would be a great time to make analytics the focus of your career. Some of the top skills that can help you to start your Data Analytics career are:

  • Knowledge of data visualization tools (Tableau, Qlik, Datameer, and others that are widely used in industries for data crunching and other operations)
  • Understanding of languages like Python, R, SQL, and database management systems
  • Clarity of Data Analytics concepts, like statistics, and deriving the right insights from data

B) Careers in Data Analytics

Some of the key job options that one can explore in the field are:

  1. Data Scientist
  2. Data Engineer
  3. Data Analyst
  4. Machine Learning Engineer
  5. Data Journalist
  6. Database Admin
  7. Financial Analyst
  8. Business Analyst
  9. Product Analyst
  10. Business Intelligence Analyst
  11. Marketing Analyst
  12. Quantitative Analyst
  13. Data Visualization Specialist
  14. Functional Analyst
  15. Data System Developer

Let’s explore these top careers in detail.

1. Data Scientist

As one of the most prominent Data Analytics career opportunities, Data Scientists collect and analyze data that can be communicated as actionable insights. Data Scientists are often those who work with complex data and advanced analytics and require strong expertise in Data Analytics, including programming languages, like Python and R, data visualization tools, and other vital skills.

2. Data Engineer

A Data Engineer often focuses on massive data sets and is tasked with optimizing the organization’s infrastructure around several Data Analytics processes. Data Engineers require not just strong expertise in data visualization and programming but also need to have experience in developing and testing solutions, to be on par with the requirement.

3. Data Analyst

As one of the most prominent Data Analytics career opportunities, Data Analysts are required in several industries to interpret and represent data in various forms in order to derive actionable insights. Data Analysts need to be well versed with Excel, Access, SharePoint, and SQL, while also knowing data mining, data modeling, and data visualization tools. At times, Data Analysts also help to segregate and simplify data from several systems that require to be shared for further analytics.

4. Machine Learning Engineer

Machine Learning Engineering is an advanced Data Analytics career path that combines the expertise of Data Science and Machine Learning/Artificial Intelligence. A Machine Learning Engineer needs to be skilled in Deep Learning, Python, and other programming languages, Big Data Analytics, and data visualization tools. According to reports, Machine Learning Engineers are sought-after in organizations like Apple Inc, Accenture, PwC, JP Morgan, and other companies, with the average annual salary of $1,11,855.

5. Data Journalist

Data and information are integral to an organization, especially when it comes to journalism. So, publications and several news agencies require Data Journalists who are primarily the ones finding data, distinguishing the useful data from the bad, and analyzing it for simplicity. If you are wondering how to make a career in Data Analytics after obtaining a degree in Journalism, Data Journalists need to have good technical skills in SQL, Python while being experts in Data Visualization and Statistics. The field also requires a sound knowledge of various other areas to contextualize the data for further usage.

6. Database Admin

Wondering how to start a Data Analytics career from scratch? Then, a Database Admin is a great role to consider. Database Administrators are primarily responsible for ensuring that the database is working correctly, and they should be familiar with several database tools like SQL, NoSQL, and more. Database Admins monitor and optimize performance and implement, configure, and troubleshoot database instances to ensure optimal health of the environment.

7. Financial Analyst

Data is also used for financial planning, investments, and making other financial decisions. This is where Financial Analysis comes in. Financial Analysts are Data Analysts who bring Finance domain expertise and use the various insights to interpret it, making this role a perfect fit for those looking for career growth in Data Analytics with a background in Finance. Financial Analysts have working knowledge of Data Science, while also having expertise in financial assets like bonds, stocks, trading, and other domain-specific instruments.

8. Business Analyst

A Business Analyst (BA) is now mainstream in every organization, especially product, IT services, and other organizations utilizing technology. A Business Analyst has to have expertise in the chosen domain and is tasked with testing, updating, installing, and maintaining the business process systems for the organization, which includes data processing and other tools. BA may not have in-depth knowledge of Data Science, but having functional expertise is always a big plus.

9. Product Analyst

Similar to Business Analyst, a Product Analyst is responsible for managing product-related processes like planning, analyzing existing or new products, and ensuring proper working of the products used within the organization. If you are wondering how to switch career to Data Analytics, understand that Product Analysts need to have a strong knowledge of tools in Data Science like R, Python, SQL, and others.

10. Business Intelligence Analyst

Business Intelligence (BI) tools help organizations convert raw data into insights, and Business Intelligence Analysts need to have a strong familiarity with the BI tools. BI Analysts work with Data Scientists and Analysts to provide data visualizations through charts and graphs and create reports used for making significant business decisions.

11. Marketing Analyst

A great option for a career in Data Analytics in India, Marketing Analysts use data to make smart decisions for marketing and sales-related activities. Marketing Analysts are experts in data crunching, while also being aware of the marketing aspects of a business.

Marketing Analysts need to use relevant data to make predictions, identify opportunities, and streamline processes. This requires strong communication skills in addition to technical skills, as the person in this role needs to often interact with the client-facing teams.

12. Quantitative Analyst

A highly sought-after role for those looking for a career in Big Data analytics in India, Quantitative Analysts use data to understand and flag potential investment opportunities or risks depending on the outcome. Since these decisions are used to make an investment-related decision like trading models, stock predictions, commodities, and exchange rates, these positions usually pay well.

13. Data Visualization Specialist

Similar to the Business Intelligence Analyst role, Data Visualization Specialists need to have a strong familiarity with various data processing tools like Tableau, Qlik, Datameer, SAP, TIBCO, and more. In addition to business and functional knowledge, this role has an excellent scope for Data Analysts who have in-depth familiarity with all the programming languages that are used for data analysis.

14. Functional Analyst

Great for those who want to make a career change to Data Analytics, Functional Analysis is another stream that leverages the Data Science background to identify and mitigate system risks, functions, and records. Functional Analysts find problems, recommend system and technology upgrades, while being in charge of the system procedure, to ensure that operations are efficient and effective.

15. Data System Developer

With a focus on building products that effectively leverage an organization’s data for decision-making and insights, Data System Developers are professionals who are the heart of the database and the system. They help to design, build, and maintain an organization’s data and analytics infrastructure and also facilitate the process for Data Scientists, Analysts, and other Developers.

C) Data Analytics Career Opportunities Around The World

A career in Data Analytics in India is excellent, but there are also several opportunities worldwide. Several thought leaders indicate an increase in Data Analytics careers around the globe, and 70% of business leaders will prefer to hire professionals with data skills by 2021.

Ready to start a career in Data Analytics? As you can see, within Data Analytics, there are several factions, and every industry is looking for professionals who can work with data to generate insights. Data analytics career path may range, but the essential requirement for a successful career in this field is the same:

  1. Know your domain
  2. Be an expert in Data Analysis 
  3. Connect the dots – Use data to make smart decisions 

So before thinking of a mid-career switch to Data Analytics or starting completely fresh, make sure you have gained expertise in some of the Data Analytics tools and technologies like Spark, Python, SQL, and Tableau. If you are interested in learning more about Data Analytics and its application in the business world, check out our online Integrated Program in Business Analytics, a 10-month-long Future Leaders program in collaboration with IIM Indore – a program that will help you take your career to the next level.

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