The worldwide marketplace has become increasingly reliant on digital resources, and data has become the most important commodity for businesses across all industries. Investors, stakeholders, C-suite executives, and other members of organizational leadership leverage data to gain invaluable insights about consumers, business partners, and even their own companies.
They use this information to guide decision-making and increase the chances of achieving sustained success in this ultra-competitive economy. At the center of our data-driven economic ecosystem are data analysts. Due to the surging demand for these services, data analytics has become a top career choice.
In the article below, we provide you with valuable information about the field of data analysis so that you can determine whether a data analytics career choice is right for you. We also highlight seven factors that make this career path appealing and even discuss how you can start your own journey towards becoming a data analyst.
Table of Contents
What is Data Analytics?
Why is Data Analytics a good career?
Is Data Analytics the right career for me?
What is Data Analytics?
There are a lot of misconceptions regarding what data analysts do. To clear up these fallacies, let’s briefly recap the roles and responsibilities of a data analyst within a corporate environment.
Generally speaking, the role of a data analyst is to assess massive data sets and draw out useful insights that can help guide organizational decision-making.
They try to identify trends and make accurate predictions about what may happen next, an approach is known as predictive analytics.
Tools such as the Tableau data analytics platform make this important research possible. Data analysts and data scientists operate within a wide array of industries, but more on that in the next section.
Why a Data Analytics career choice is a good decision
Now, let’s discuss why the field of data analytics has become such a sought-after career path. We’ll outline the field’s benefits below.
1. Industry is growing
As reliance on digital marketing and internet-based advertising continues to rise, businesses in new industries will develop a need for data analysis services. Currently, data analysts and data scientists work in the following sectors:
- Investment banking
- General finance
- Private equity
- Credit bureaus
In addition to the specific industries above, many small businesses contract with data analysts to gain insight into the state of their company.
If you pursue a career as a data analyst, you will have the opportunity to work in a variety of fields based on your individual interests and professional goals.
An analyst career track often offers robust opportunities for advancement. For instance, if you become a data analyst at a major financial institution, you can use this opportunity to vault yourself onto the management track.
2. Opportunity to enhance strategy development skills
Presently, one of the most popular sub-specialties within the data analytics field is “predictive analytics.” As the name suggests, analysts working in this niche seek to gain insight from data sets in order to make predictions about future events.
Predictive analysts are responsible for much more than just conducting an assessment and presenting their findings.
Instead, they must deploy statistical methods, modeling, and machine learning techniques in order to make accurate predictions. Working as a predictive analyst provides these professionals with the opportunity to develop and hone their strategy-building skills.
Predictive analysts play a vital role when their organizations are crafting a new marketing campaign, preparing to launch an innovative product, or conducting other activities that require deep insight into the minds of consumers.
3. Work with others
While data analysts may spend hours every week sifting through piles of information, they are by no means solitary. In fact, most data analysts have ample opportunity to work with others during any given shift. They may partner with other analysts, meet with managerial staff, or present their findings in accessible ways—often via data visualization—to C-suite executives.
With all this propensity for human interaction, it is essential that data analysts have strong interpersonal and communication skills.
They must be able to explain their work clearly and succinctly when speaking to non-experts. If they cannot, then the significance of their work will be lost on their audience.
4. Data Analytics is essential to businesses
Speaking of businesses, employing a team of talented data analysts has become essential for organizations operating in several major industries.
Insurance companies, healthcare organizations, financial institutions, and many other entities rely heavily on the services of data analysts to guide key decision-making processes.
If you are seeking a rewarding and essential career, then data analytics may be just what you have been looking for.
5. Remote work opportunities
Another significant benefit of becoming a data analyst is the abundance of remote work opportunities. This means that you can seek out exciting job opportunities without having to relocate.
You can apply to jobs located all throughout the nation and abroad. In addition to eliminating geographical restrictions, switching to remote work offers several other advantages.
For instance, you will no longer have to commute to and from an office location. Eliminating your commute will reduce wear and tear on your vehicle, cut fuel costs, and save time.
6. Strong earning potential
Traditionally, entry-level employees have reduced earning potential when compared to more seasoned professionals. While this holds true, to a degree, when discussing data analysts, even newcomers to the profession can earn a competitive salary.
According to Salary.com, the median income for a data analyst who specializes in data modeling is approximately $95,000 annually. Top earners in that profession may bring in as much as $121K per year.
Keep in mind that these figures are for a niche position within the data analytics industry. With that being said, general analysts with little to no experience can still expect to earn approximately $73K annually during their first year on the job.
As these individuals develop new skills and gain additional experience, their earning potential will likely increase.
7. High demand
Due to the high number of subspecialties within the data analytics profession, the U.S. Bureau of Labor and Statistics has divided job outlook information for this field into a variety of categories. However, the overall job outlook for data analysts is extremely positive.
For instance, the BLS projects that the field of “operations research analysts” will experience a 25% increase in demand by 2030.
While the exact projections fluctuate between professions, the BLS has made similar predictions regarding the demand for other data analytics positions. Typically, they estimate that data analytics-related jobs will experience at least a 20% increase in demand by the end of the decade.
This projection means there will be no shortage of work opportunities if you decide to pursue a career in data analytics.
In addition, this massive increase in demand for analysts should lead to higher earning potential as well.
Is a Data Analytics career choice right for me?
Still not quite sure if a data analytics career choice is the right decision for you? If you are undecided, we recommend conducting a little introspection and assessing your own strengths and weaknesses. While every analyst is unique, successful data analytics professionals usually possess the following qualities:
- Attention to detail
- A healthy dose of skepticism
- The ability to spot patterns
- Methodical problem-solving practices
If you possess some or all of these attributes and are interested in a career that is in demand, you may be a good fit for the data analytics profession.
Now, all you need to do is acquire the necessary skills by completing an accredited degree program or signing up for our data analytics boot camp. Our boot camp includes targeted data analytics training to help you start your career fast. Read on to learn more about this unique offering.
Become a Data Analyst with Pathstream
Have you made up your mind that data analytics is the right career path for you? If so, then Pathstream can help you chase your dreams with our world-class Tableau Data Analytics Certificate program.
During this course, you will learn basic analytical skills, become accustomed to using the Tableau platform for analyzing data sources, and much more. Upon completion, Pathstream will even help you land your first job as a data analyst.
If you are still on the fence, but want to acquire marketable skills, Pathstream offers several other exciting certificate programs. These programs include the Asana Project Management Certificate, the Salesforce administration certificate, and a digital marketing certificate.
To learn more about these innovative programs, contact our team today.
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