As the world becomes more data-driven, businesses of all sizes must have a data analyst on staff. A data analyst is a highly trained professional who knows how to gather, analyze, and apply data to make sound decisions. They work with business leaders to identify trends and insights that can be used to improve performance and grow the business. A data analyst is essential for all businesses, and having one on staff has numerous benefits. In this article, we will talk about types of data analysts, what a data analyst does daily, & data analyst career paths.
What is Data Analysis?
Data analysis is cleaning, transforming, and modeling data to find helpful information for business decisions. Data analysis aims to extract useful information from data and make decisions based on that information.
Who are Data Analysts?
A data analyst collects and analyzes data to solve a specific problem. They are responsible for transforming raw data into meaningful insights. They will use the data and the insights provided by the data analysis process to solve specific problems or answer specific questions.
What Does a Data Analyst Do?
Below is the work process that a data analyst does daily.
- Data collection: The first step is data collection. Data analysts frequently gather information on their own. The data include conducting surveys, tracking visitor characteristics on a company website, or purchasing datasets from data collection specialists.
- Data Cleansing: After collecting the data, they clean the raw data as it may contain duplicates, errors, or outliers. Cleaning data entails maintaining data quality in a spreadsheet or programming language so that your interpretations are accurate.
- Data Modeling: The next step is to analyze and define the various data points collected and generated by data analysts. They choose which data types to store and collect, how data categories are related, and how the data will be displayed.
- Data Interpretation: After modeling the data, the next step is data interpretation. Here the data analysts identify the patterns or trends in data that may provide an answer to the question at hand.
- Data Presentation: The last and most crucial step is to present the data. Data analysts offer the data through the creation of visualizations such as charts and graphs, report writing, and presenting the information to interested clients.
Types of Data Analysts
As technology has rapidly expanded, knowing how to gather, sort, and analyze data has become essential to almost any industry. Nowadays data analysts are present in every sector. Below are some types of data analysts you’ll find in different sectors.
- Market Research Analyst: Market research analysts collect and analyze consumer and competitor data. They research consumer preferences, business conditions, and other factors to determine the potential sales of a product or service. They also help businesses determine what products people want, who will buy them, and how much they will cost.
- Business Analyst: A business analyst analyzes data to process, interpret, and document business processes, products, services, and software. Their role is to increase business efficiency through knowledge of both IT and business functions.
- Operation Research Analyst: Operations research analysts manage and evaluate data to improve business operations, supply chains, pricing models, and marketing. By working in marketing they determine which marketing campaigns will bring in the newest customers. Similarly, by working in finance they find ways to cut costs without sacrificing service or product quality.
- Medical and Healthcare Analyst: Medical and Healthcare analysts collect, organize, analyze, and interpret healthcare data, which includes patient treatment and healthcare products. They conduct research, set up data management and analysis systems, and write reports and other documentation.
- Intelligence Analyst: Intelligence analysts examine intelligence data to assess potential threats, and determine whether an attack has occurred or is about to occur. They may also use their statistical and mathematical knowledge to develop new methods for gathering data on specific threats or potential attacks.
Data Analyst Career Opportunities
Data analysts are among the world’s most in-demand professionals. Because their demand is so high and the supply of people who can do this job is limited, data analysts command huge salaries and excellent perks, even at the entry-level. Below is a list of India’s top 13 data analyst career paths.
1. Data Scientist
In India’s top 10 data analyst career paths, first, we have Data scientists. A data scientist is an analytics professional who collects, analyzes, and interprets data to help drive organizational decision-making. A data scientist’s job combines elements of several traditional and technical positions, including mathematician, scientist, statistician, and computer programmer.
It entails using advanced analytics techniques like machine learning, predictive modeling, and scientific principles. Working as a data scientist can be intellectually stimulating, and analytically satisfying, and put you at the cutting edge of new technological advances. As big data becomes more important in how organizations make decisions, data scientists are becoming more common and in demand.
Where to learn it from?
You can learn data science online as well as in offline courses.
Salary
The average annual salary of a Data Scientist is INR 10 Lakhs.
2. Data Analytics Manager
In India’s top 10 data analyst career paths, secondly, we have Data Analytics Manager. A data analytics manager directs a team of data analysts. They transform raw data into business insights that can be used for decision-making and strategic planning. They use their extensive industry knowledge to derive relevant insights and complex statistical models and algorithms to deliver effective data analysis strategies.
They oversee the work of an analytics department and ensure its accuracy. They are in charge of coordinating the various tasks that their team must complete for a large data project. Tasks include researching and developing effective data collection methods, analyzing data, and recommending solutions to a business.
Data analysis can be more challenging to learn than other fields of technology because the skills required to perform Data Analyst jobs can be highly technically demanding.
Where to learn it from?
You can learn data analytics management online as well as in offline courses.
Salary
The average annual salary of a Data Analytics Manager is INR 22 Lakhs.
3. Data Analytics Consultant
In the data analyst career path, thirdly, we have Data Analytics Consultant. A data analytics consultant is a professional who advises and guides those looking to improve their data analytics processes. They are frequently self-employed but can also work for corporations and consulting firms.
They use software to evaluate the efficiency and accuracy of data analysis processes and to help leaders develop business strategies. Data analytics consultants provide data management professionals with expertise and advice.
They may assist teams in learning how to improve their data analysis processes and in assisting managers in selecting the appropriate data analysis programs and software. A data analytics consultant’s responsibilities can vary depending on where they work and the clients they serve.
Where to learn it from?
You can learn data analytics consulting online as well as in offline courses.
Salary
The average annual salary of a data analytics consultant is INR 13 Lakhs.
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4. Data Engineer
Next, we have Data Engineer in India’s data analyst career paths. Data engineers create systems that collect, manage, and convert raw data into usable information that data scientists and business analysts can use in various settings. Their ultimate goal is to make data available to businesses so that they can evaluate and optimize their performance.
The amount of data with which an engineer works varies according to the organization’s size. The larger the company, the more complex the analytics architecture and the more data the engineer is responsible for. Data engineers collaborate with data science teams to improve data transparency and enable businesses to make more reliable business decisions.
Where to learn it from?
You can learn data engineering online as well as in offline courses.
Salary
The average annual salary of a data engineer is INR 8 Lakhs.
5. Quantitative Analyst
Next, we have a quantitative analyst. A quantitative analyst, also known as a quant, is a professional who solves financial and risk management problems using mathematical and statistical methods. They develop and implement complex models businesses use to make financial and business decisions such as investment and pricing.
They are in high demand in the worlds of investing and securities trading because of their ability to generate valuable insights that give their employers a competitive advantage. Various financial industry organizations, including insurance companies, accounting firms, and financial software firms widely use them.
Where to learn it from?
You can learn quantitative analysis online as well as in offline courses.
Salary
The average annual salary of a quantitative analyst is INR 11 Lakhs.
Also Check: Online Data Analytics Course
6. Financial Analyst
In India’s data analyst career paths, next, we have financial analyst. A financial analyst is a professional who conducts financial analysis for external or internal clients as part of their job. They counsel companies and individuals on how to spend money to maximize profits. They assess the results of bonds, shares, and other investments.
They are in charge of a variety of tasks, including data collection, information organization, historical data analysis, forecasting and projections, and creating Excel models, presentations, and reports.
Where to learn it from?
You can learn financial analysis online as well as in offline courses.
Salary
The average annual salary of a financial analyst is INR 4 Lakhs.
7. Healthcare Analyst
In the data analyst career path, next, we have healthcare analysts. A healthcare analyst is in charge of analyzing medical data to improve hospital and medical facility business operations. They gather, organize, analyze, and interpret healthcare data such as patient treatment and medical products.
They conduct research, set up data management and analysis systems, and write reports and other documentation. They identify trends and gather industry intelligence, including competitive intelligence. They work closely with other teams to create strategies for using this data to gain a competitive advantage, improve operations, or provide better client service.
Where to learn it from?
You can learn healthcare analysis online as well as in offline courses.
Salary
The average annual salary of a healthcare analyst is INR 3.1 Lakhs.
8. Operations Analyst
Next, we have operations analysts in India’s data analyst career paths. An Operations Analyst is a professional who solves internal problems and implements goal-oriented strategies in businesses. This role also entails data management, client reporting, and trade processes.
They work with the client support services manager and the operations team. The goal of their team is to ensure that the company’s operations run smoothly. Operations analysts are also known as operations research analysts. In this role, they research company operations to help management make decisions, reformulate policies, adjust logistics, and make changes to streamline processes.
Where to learn it from?
You can learn operation analysis online as well as in offline courses.
Salary
The average annual salary of an operations analyst is INR 4.1 Lakhs.
9. Marketing Analyst
We have a marketing analyst next in India’s data analyst career paths. A marketing analyst analyzes data to assist a company’s marketing efforts. The information gathered by the marketing analyst may be used to help a company make better business decisions, such as increasing revenue or optimizing marketing campaigns.
A marketing analyst uses data to discover new marketing insights for a company. They can recommend how a company should proceed with its marketing efforts by synthesizing findings. This can include creating reports, presentations, and other materials.
Where to learn it from?
You can learn marketing analysis online as well as in offline courses.
Salary
The average annual salary of a marketing analyst is INR 6.5 Lakhs.
Must Read: Data Analytics Courses in India
10. Corporate Strategy Analyst
In the data analyst career path, next, we have corporate strategy analysts. To solve everyday business problems, strategy analysts rely on data. They offer pertinent insights that help businesses make better decisions, address key challenges and identify new growth opportunities.
They identify a company’s needs and develop plans that determine the best path to achieve its goals. They collect, review, and test data and use a variety of measures to provide solutions to critical business issues and decisions.
They approach business problems in the long term, but they can also assist in the short time. To increase market share, they collaborate closely with product, sales, and business development teams.
Where to learn it from?
You can learn corporate strategic analysis online as well as in offline courses.
Salary
The average annual salary of a corporate strategy analyst is INR 13.3 Lakhs.
11. Business Intelligence Analyst
In the data analyst career path, next, we have a business intelligence analyst. A business intelligence analyst analyzes market intelligence reports. These reports are used to highlight market patterns and trends that may have an impact on a company’s operations and future goals.
A typical business intelligence analyst’s day consists of gathering data, analyzing it, and disseminating the results to the appropriate audience. These components can be further subdivided into more detailed tasks, allowing you to positively impact the overall performance of a company.
Where to learn it from?
You can learn business intelligence analysis online as well as in offline courses.
Salary
The average annual salary of a business intelligence analyst is INR 7 Lakhs.
12. Project Manager
Next, we have a project manager. A project manager is a specialist in project management. Regardless of industry, they are in charge of project planning, procurement, and execution in any undertaking with a defined scope, defined start, and defined finish.
They are in charge of seeing the project through to completion. The individual leads and manages the project team, with project board authority and responsibility to oversee the project’s day-to-day operations.
Project managers have a diverse set of skills that allow them to approach each assignment initially and strategically. Above all, they understand how to apply their project management skills to assist an organization in learning, succeeding, and evolving as a result of a project.
Where to learn it from?
You can learn project management online as well as in offline courses.
Salary
The average annual salary of a project manager is INR 12.5 Lakhs.
13. IT System Analyst
In the data analyst career path, next, we have a system analyst. A systems analyst, also known as a business technology analyst, is an information technology professional who specializes in information system analysis, design, and implementation. They analyze and design business problems using information technology.
Systems analysts must be familiar with a wide range of operating systems, software, and hardware platforms. They can be a part of the project from the analysis phase to the post-deployment evaluation review.
Where to learn it from?
You can learn system analysis online as well as in offline courses.
Salary
The average annual salary of a system analyst is INR 7.2 Lakhs.
FAQs on Data Analyst Career
Q1. What are some of the most common issues that data analysts face?
Some of the challenges faced by data analysts are
- Lack of skilled resources who are familiar with Big Data Analytics
- Data Management Landscape Uncertainty
- Adding a large volume of data to a big-data platform
Q2. What are some of the skills required for a data analyst?
Some of the skills required for a data analyst are:
- Data Visualisation
- Python
- Data Cleaning
- Microsoft Excel
- Critical Thinking
Q3. How long does it typically take to become a data analyst?
The time it takes to develop the skills needed for a job as a data analyst will vary depending on your prior knowledge, your learning strategy, and the type of role you’re applying for. For data analyst positions, a bachelor’s degree is required, which typically takes 3-4 years to complete, a master’s degree or MBA can be completed in under two years, and a post-certificate master’s degree in under a year.
Q4. Do data analysts need to code?
Although some Data Analysts need to code daily, coding skills are typically not required for jobs in data analysis. Software analysts do not need to be experts in coding, but they should be familiar with analytics software, data analysis software, and data management programs.
Q5. Can I work as a data analyst without a degree?
Working as a data analyst only sometimes necessitates a degree. Data analysts are in high demand, and employers want to know that you have what it takes. If you lack a degree, focus on filling your portfolio with your best work.
