What Is Data Analysis? And How Can You Start Learning It Today!
Did you know that Data science and Analysis positions are often the hardest ones for a company to fill?
Thanks to exploding demand for data professionals, there are a ton of open roles and not enough candidates to fill them.
Translation? Data analysis is an exciting field to get into and the career prospects are amazing.
Now, just to clear up a common misconception right off the bat: you don’t need to be a math/computer science/coding whiz to land a job in data analysis.
But do you know that you start a career in data analysis if you have no background in it? All you need is to choose right course and guidance.
Today, let us discuss the Top 5 on demand careers tat rely on Data Analysis.
Popular Careers That Rely on Data Analysis
One really cool thing about gaining data analysis skills is that they don’t lock you into a single career. Sure, you could become a data analyst and stay there for decades if you love it–but there’s also the freedom to pivot in other directions if you choose.
Businesses in nearly every industry use data analytics to power decisions, gain a competitive advantage, boost sales, win new customers, improve internal operations, maximize profits, etc. This makes data analysis skills useful in many roles.
- The basics of data analysis involve retrieving and gathering large volumes of data, organizing it, and turning it into insights businesses can use to make better decisions and reach conclusions.
- To share their findings with business decision-makers, an analyst (or data visualization specialist) may create charts, graphs, etc.
QUICK FACTS ABOUT DATA ANALYSIS AS A CAREER:
- You can work in a wide variety of industries like healthcare, finance, marketing, fast food, retail IT, etc. Whatever you are interested in!
- Average salary: $62,453
- Demand has exploded for data analysts because we are creating more and more new data every day. For example, Google processes 40,000+ search queries every second on average (3.5M searches each day, 1.2 trillion searches per year).
- And this continues to climb!
- Data Analyst ranked #35 in Glassdoor’s 50 Best Jobs in America, 2020
- They identify meaningful patterns in data to drive business decisions, working closely with business VPs and senior managers.
- Their duties may involve predictions, optimizations, risk management, and so forth.
QUICK FACTS ABOUT BUSINESS ANALYSIS AS A CAREER:
- A Business Analyst is mostly concerned with the day-to-day operations of a business and how to fine-tune business processes
- Great if you’re interested in/have a background in business or finance
- Less science/math based than the traditional data analyst role
- Average salary: $68,346
- Product managers own and guide the success of products from conception to launch. Each stage requires data analytics!
- You must analyze the market for trends and problems to solve, leverage data to determine how to improve features, and figure out how to make the product even better in subsequent versions.
QUICK FACTS ABOUT PRODUCT MANAGEMENT AS A CAREER:
- All businesses have products (services count!). This opens a ton of possibilities as far as what industry or type of company you can work in
- Great for those coming from a customer-facing background as you can better understand users
- Average salary: $108,992
- Digital marketers must understand consumer habits/motivations, detect changing trends, and track performance to improve ads, social media campaigns, and SEO strategies.
QUICK FACTS ABOUT DIGITAL MARKETING AS A CAREER:
- Successful digital marketers must rely on data!
- Whether it’s identifying user demographics, measuring clicks and conversions to determine campaign success, or sifting through historical data to choose high-performing strategies, data is important
- Great hybrid role for someone coming from a content creation, advertising, or traditional marketing background
- Average salary: $57,473
- Quantitative analysts (“quants”) are data analysis professionals who work in the financial industry, leveraging data and data models to manage risk, predict changes in the valuation of stock and bonds, and make data-driven investment decisions.
QUICK FACTS ABOUT QUANTITATIVE ANALYSIS AS A CAREER:
- Great if you love math!
- Perfect role for someone who can’t decide between tech and finance
- Usually requires a master’s degree in a related field
- Average salary: $106,751
Intellisoft presents to you a Data Interpretation & Analysis Workshop that is highly practical, where the participants learn by doing several exercises using Predictive Analytics – Correlation, Regression & Modelling Techniques to Analyze and Interpret data.
We also cover advanced Excel data analysis topics like Data Tables, Using Goal Seek, Performing Scenario Analysis, and Advanced Pivot Table techniques in analyzing data within Excel.