Data is the elixir of any enterprise. Data-driven organizations fare exceptionally well across industries. From the primary level, where the data is analysed to understand what happened, to the advanced level to prophecy the growth, data is relied highly on all stages. Undoubtedly, with the increased collection and usage of data, data analytics has opened a flood gate of employment opportunities.
A data analyst’s role is to discover patterns in data and help increase the efficiency and performance of the company. Since critical business decisions, determining the trajectory of a company’s growth, depend considerably on data analytics, it sure is a gold mine worth digging. Companies use the data differently at different levels, and a better understanding of it is advisable.
A data analyst’s role is to discover patterns in data and help increase the efficiency and performance of the company.
Descriptive analytics is used at the primary level to understand what happened. It describes the historical trends in data by measuring traditional indicators. It purely focuses on summarizing the data without making any predictions. The findings from descriptive analytics are used in diagnostic analytics to find the reason for a trend.
To calculate the likelihood of a trend to recur, we depend on predictive analytics. Predictive analytics helps us find the answer to the question “what will happen in the future?’ Effective and efficient decisions are taken following the insights derived from the data.
Prescriptive analytics leads us to solutions as it answers the question “what should be done?”
Basic knowledge of mathematics is a prerequisite in pursuing a career in data analytics. If you have an analytical frame of mind, then a course on data analytics will open up a great opportunity. Professionals in IT, banking and finance, marketing and sales, etc., can accelerate their career growth to a great extend with an added degree in data analytics.
The job roles include Data Analyst, Data Analytics Manager, Business Analyst, Business Intelligence Analyst, etc.
In a data-driven world, dig deep into that data mine!
