A data-driven world will always require skilled professionals like Data Scientists or Data Analysts as long as data analytics remains the fundamental aspect of the new economy. From finance to healthcare, various major industries use data analysis for their growth. Since most modern organizations are adopting data analysis, data analytics careers are often lucrative and in demand. The data analytics job market was worth $23 billion back in 2019, and by 2026,it is expected to be $133 billion.
What
Is Data Analytics?
Data Analysis is the examination and evaluation of data to find meaningful trends, patterns or insights. The process of Data Analysis uses various tools and techniques which are particular to the type of data to be analyzed. With the help of Data Analysis, a lot of organizations are making informed decisions, eventually making them stronger as an organization.
Here are some of the roles that a Data Analyst performs in an organization:
●
Collecting and cleaning data
●
Conducting statistical data
analysis
● Collaborating with other organizational teams.
Why Should One Choose A Career In Data Analytics?
Are you an aspiring Data Analyst wondering whether
going for this career is worth it? There are many reasons which make a career
in Data Analysis worth it. Here are some of the reasons why many pursue this
career.
●
Career
Advancement: Whatever level of expertise you have, you can work as
a Data Analyst at any level - you can start at entry-level and move up to
managerial levels to advance your career and handle more tasks.
●
Future
Proof Career: The demand for Data Analysts remains high for a long
time and will remain or even increase in the coming years. If you are looking
for a future-proof option, then this career option will definitely not
disappoint you.
●
Variety
Of Roles To Choose From: As more and more industries and
organizations are reliant on data, different industries or organizations offer
different roles related to Data Analytics. Apart from these, there are also
various roles within the same organization.
Top 7 Lucrative Careers in Data Analytics
As we mentioned, you could choose from various roles; here, we have compiled some top Data Analytics careers that pay the highest, their roles and responsibilities, and what skills you will need for those roles.
Data Scientist
Using statistical and Machine Learning techniques, Data Scientists analyze and interpret complex data sets. As a Data Scientist, you will also develop models and algorithms for data analysis.
Roles and responsibilities
●
Gathering data from different
sources and cleaning them
● Developing and implementing machine learning models and algorithms for data analysis
● Keeping up with the latest data analysis technologies and advancements
Required skills
● Background in computer
science, mathematics, and statistics
● Understanding and hands-on
experience with programming languages like Python and R.
Salary insights:
● US: $1,21,078
● India: ₹12,00,000
● UK: £50,028
Data Engineer
As a Data Engineer, you will be dealing with the design, development and maintenance of data infrastructure used for Data Analysis. This position requires you to act as a bridge between the developers and traditional data science positions, which means it requires technical skills, also.
Roles and responsibilities
●
Designing and developing
infrastructures and systems that are used for Data Analysis
●
Ensuring the security and accuracy
of data
Required skills
● Programming skills like
Python, Java, SQL
● Hands-on experience with big data technologies like Hadoop, Spark, etc.
Salary insights
● US: $1,14,168
● India: ₹8,00,000
● UK: £49,242
Source: https://www.glassdoor.co.in/Salaries/india-data-engineer-salary-SRCH_IL.0,5_IN115_KO6,19.htm?clickSource=searchBtn
Data Architect
Data Architects aren’t necessarily directly associated with analyzing data, but they design and create blueprints for data management and storage systems. Like Data Scientists, Data Architect is also a desirable job profile within the data science field.
Roles and responsibilities
● Create data monitoring
models, particularly for different products
● Ensuring the integrity and
security of databases within an organization
●
Recommend solutions and new database storage
Required skills
● Programming languages like Python,
Java, Perl, C/C++
● Understanding of concepts
like predictive modeling, Machine Learning, NLP and text analysis
Salary insights
● US: $1,28,222
● India: ₹22,00,000
●
UK: £71,928
Source: https://www.glassdoor.co.in/Salaries/india-data-architect-salary-SRCH_IL.0,5_IN115_KO6,20.htm?clickSource=searchBtn
Quantitative Analyst
This area of Data Analysis is associated with leveraging mathematical and statistical techniques for valuable financial decision-making. As a Quantitative Analyst, you will work in areas like trading, risk and portfolio management, etc.
Roles and responsibilities
● Finding patterns and trends
in financial datasets
● Working on quantitative
investment strategies to develop and implement them
● Leverage mathematical and statistical techniques for the development of economic systems.
Required skills
● Background in mathematical or
quantitative areas like engineering, physics and mathematics
● Programming languages like Python, R, Basel III, etc.
Salary insights
● US: $1,17,335
● India: ₹14,00,000
●
UK: £79,258
Source: https://www.glassdoor.co.in/Salaries/india-quantitative-analyst-salary-SRCH_IL.0,5_IN115_KO6,26.htm?clickSource=searchBtn
Database Administrator
Database Administrator has sufficient knowledge about general structures, data storage, warehousing, etc., as they have to ensure that the database storage and structure meet the needs of a particular organization.
Roles and responsibilities
● Maintaining the policies and
standards of databases, along with maintaining availability and performance
● Monitoring different database statuses like usage, concurrency levels, transaction volumes, response times, etc.
Required skills
● A background in IT, Computer
Science, Engineering, etc.
● Understanding and hands-on
experience with SQL and database technologies
● Familiarity with programming languages and coding
Salary insights
● US: $89,758
● India: ₹7,00,000
● UK: £38,431
Source: https://www.glassdoor.co.in/Salaries/india-database-administrator-salary-SRCH_IL.0,5_IN115_KO6,28.htm?clickSource=searchBtn
Business Intelligence Analyst
As a Business Intelligence Analyst, you will analyze and interpret complex data to drive insights. These insights help organizations make data-driven decisions. You will use different techniques and tools specifically for this role to analyze data and help understand the insights of the relevant team. As a Business Intelligence Analyst, you will use descriptive analysis to draw data insights.
Roles and responsibilities
● Gathering and analyzing data
for organizations using which they make data-driven decisions
● Using data visualization software to present insights in a way so that relevant non-technical teams can understand them.
Required skills
● Background in Business or
other related fields
● Hands-on experience with BI tools and data warehousing
Salary insights
● US: $88,481
● India: ₹7,63,308
● UK: £39,629
Source: https://www.glassdoor.co.in/Salaries/india-business-intelligence-analyst-salary-SRCH_IL.0,5_IN115_KO6,35.htm?clickSource=searchBtn
Financial Analyst
As a Financial Analyst, you will be associated with data-oriented and quantitative roles - and having skills matching for these roles is important. In this role also, you will be responsible for analyzing data and communicating the insights.
Roles and responsibilities
● Finding trends and patterns
in financial data
● Working with financial models
● Automating business processes
Required skills
● Presentation skills
● Background in Business,
Finance, or related fields
● Financial analysis, financial
reporting, etc.
● Mathematical skills
Salary insights
● US: $76,459
● India: ₹5,00,000
● UK: £42,131
Source: https://www.glassdoor.co.in/Salaries/india-financial-analyst-salary-SRCH_IL.0,5_IN115_KO6,23.htm?clickSource=searchBtn
Where To Start?
The path and duration required to becoming a Data Analyst might be different for different individuals, based on their educational background and professional goal. One of the best parts of this field is that you can work as an entry-level Data Analyst before moving ahead with bigger roles. If you have a relevant background that requires a Data Analyst, you can enroll in Data Analysis courses, which will help you with your basics and professional certifications.
A Data
Analytics career path might be challenging if you are not already sure - but
with the salary insights, background requirements and roles in an organization,
it will be easier for you to filter down.
Source:
https://www.mygreatlearning.com/blog/data-analytics-jobs/
https://www.springboard.com/blog/data-analytics/highest-paying-analyst-jobs/
https://careerfoundry.com/en/blog/data-analytics/data-analyst-salaries-by-industry/
https://www.nobledesktop.com/careers/data-analyst/job-outlook
Perfect eLearning is a tech-enabled education platform that provides IT courses with 100% Internship and Placement support. Perfect eLearning provides both Online classes and Offline classes only in Faridabad.
It provides a wide range of courses in areas such as Artificial Intelligence, Cloud Computing, Data Science, Digital Marketing, Full Stack Web Development, Block Chain, Data Analytics, and Mobile Application Development. Perfect eLearning, with its cutting-edge technology and expert instructors from Adobe, Microsoft, PWC, Google, Amazon, Flipkart, Nestle and Infoedge is the perfect place to start your IT education.
Perfect eLearning in Faridabad provides the training and support you need to succeed in today's fast-paced and constantly evolving tech industry, whether you're just starting out or looking to expand your skill set.
There's something here for everyone. Perfect eLearning provides the best online courses as well as complete internship and placement assistance.
Keep Learning, Keep Growing.
If you are confused and need Guidance over choosing the right programming language or right career in the tech industry, you can schedule a free counselling session with Perfect eLearning experts.
