What is Data Analysis?
Data analysis can be expressed as the process of filtering, transfiguring, and modelling data to find useful information for making business decisions. The main purpose of data analysis is to extract useful information from the given data and make decisions based on data analysis for the growth of the business.
A simple example of data analysis is every time we make a decision in everyday life and think about what happened last time or what will happen when we make that decision. It is nothing more than analyzing our past or our future and making decisions based on it. That’s why we collect memories from the past or dreams for our future. So this is nothing more than data do for business purposes is called data analysis.
Importance of Data Analysis skills which you need to know
Sometimes to grow your business, even to grow in your life, all you have to do is analysis or can take data analysis skill training. If your business is not achieving your targeted goal, then you have to look back and acknowledge your steps that went wrong and make a new strategy again without repeating those steps & mistakes. And even if your business is growing, then you have to look back to doing the business to grow more. All you need to do is analyze your business data and business progress.
How to choose Data Analysis as a career
According to a survey, Data Analysis Job is one of the best jobs among professional jobs. You can build up your career in data analysis and have good growth in your career.
Here are a few reasons why you build your career in Data Analysis:
High Demand for Data Analytics professionals:
There is a very high demand for Data Analytics in this year and upcoming years. Data management and analytics have more job openings than last year. And many I.T. professionals are willing to invest time and money in training.
Data Analytics Job Trends Chart shows that there is a growing trend. And, as a result, the number of job vacancies is steadily increasing.
Tech professionals with analytics experience are in high demand. As companies look for ways to harness the power of big data in data analysis. The number of Job posts related to Insights on Indeed and Dice has increased significantly in the past 12 months. Other construction sites show a similar pattern. This clear jump was due to the increasing number of organizations applying analytics and therefore seeking analytics specialists.
A study by QuinStreet Inc. found that the trend of applying big data analytics is increasing and considered a top priority in the American economy. Most organizations with data analysis skill training are in the process of implementing or actively planning for this feature in the next two years.
Vast opportunities
The demand for Analytics expertise is going up consistently, yet there is a tremendous deficiency on the supply side. This is going on all around the world and isn’t banned in any part of the world. Despite Big Data Analytics being a ‘Hot’ work. There are as yet countless unfilled positions across the globe because of lack of required ability. A McKinsey Global Institute study expresses that the U.S. will confront a deficiency of around 190,000 information researchers and 1.5 million chiefs and investigators who can comprehend and settle on choices utilizing Big Data by 2018. So this data is enough to show that there are huge vast opportunities in this field.
Salary
Solid Demand for Data Analysis abilities is boosting the wages for qualified experts and making Big Data pay a good amount of money for the correct expertise. This wonder is being seen universally where nations like Australia and the U.K. are seeing this ‘Moolah Marathon.’As indicated by the 2015 Skills and Salary Survey Report distributed by the Institute of Analytics Professionals of Australia (IAPA), the yearly middle compensation for information investigators is $130,000, up to four per cent from a year ago. Proceeding with the pattern set in 2013 and 2014, the middle respondent procures 184% of the Australian full-time middle compensation. The rising interest for investigation experts is additionally reflected in IAPA’s participation. Which has developed to in excess of 5000 individuals in Australia since its arrangement in 2006.
Randstad states that the yearly compensation climbs for Analytics experts in India is on a normal half more than other I.T. experts. As indicated by The Indian Analytics Industry Salary Trend Report by Great Lakes Institute of Management. The normal pay rates for examination experts in India were up by 21% in 2015 when contrasted with 2014. The report likewise expresses that 14% of all investigation experts get compensation of more than Rs. 15 lakh for every annum.
The key factor of Data Analysis
A glance at the compensation pattern for Big Data Analysis in the U.K. additionally demonstrates a positive and dramatic development. A snappy inquiry on Itjobswatch.co.uk shows a middle compensation of £62,500 in mid-2016 for Big Data Analytics occupations when contrasted with £55,000 in a similar period in 2015. Additionally, a year-on-year middle compensation change of +13.63% is noticed.
As per a survey by Deloitte, it was found that organizations value analytics very highly. Based on the survey, 65.2% of participants are using some form of analytics to enhance or help their business needs. The image below very plainly depicts their stance and faith towards Big Data Analytics.
Source: Deloitte
After the experience and hands-on training in the field and taking data analysis skill training a professional can easily get a better job/promotion and be paid handsomely.
If you want to pursue your career in data analytics. There are very good online courses that you can choose to become a data analytics specialist.
For a bright future with a good salary, choose Data Analysis as a career.