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Why You Should Consider a Career in Data Analytics

General Assembly
March 21, 2022
Why You Should Consider a Career in Data Analytics

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The world’s data use increases each year, with a forecast of 147. zettabytes created, consumed, and stored in 2024 – which is enough storage for 55 billion 4K movies.

This is a good thing – right? More data means more innovation, which means more advancements for society. 

Not necessarily. 

Think of data the same way you think about a library. There are so many books in one place (which is awesome) but it’s only useful if you know: 

  • How to find the information you need.
  • And how to apply it. 

Businesses have more data than ever before – about their company, their customers, and the world – but no one to tell them what it means. 

That’s where data analysts come in. 

WHAT DO DATA ANALYSTS DO? 

When there’s a problem, data analysts help solve it. 

The first step to addressing business challenges is gathering information (data) and finding answers and insights to guide companies towards better decisions. That’s the role of the data analyst. 

For example, a company may want to know which segment of customers is driving the most revenue from a marketing campaign. 

The data analyst will gather all the data related to the campaign. This may mean exploring customer demographics, marketing acquisition sources, behavioural data, and purchase data. 

They’ll look for notable statistical findings. They’ll form these into insights and create written and/or visual reports to help stakeholders learn and apply the findings to their future campaigns. 

As a distinction from data scientists, data analysts typically work with structured data from a single source and provide historical analysis as opposed to predictive modelling.

WHY SHOULD YOU CONSIDER A DATA ANALYTICS CAREER? 

The most obvious reasons to work in the field of data analytics include these top three reasons: 

  1. You’re dealing with data, numbers, and statistics, but you still get to creatively work to solve problems. 
  2. You’re paid well for this skill.
  3. Data keeps growing and so will the need for data analysts. 

But there are other benefits that may not be quite so apparent: 

  • Most employers are interested in talent with skills. There is not a big focus on degrees and further education. 
  • Many data analyst jobs are remote. No more commuting!
  • The technical skills you learn are easily transferable to other jobs like coding, data science, and more. 

5 TOP JOB TITLES FOR DATA ANALYSTS

What kind of jobs can you get as a data analyst? There are varying specialities and job titles in the field of data analytics. Here are some job titles you may see in this family of jobs:

DATA ANALYST

Related job titles: Junior Data Analyst, Entry-Level Data Analyst, Associate Data Analyst

You can find a data analyst at nearly every company in the world, in every industry imaginable. The average data analyst needs to know some basic programming languages like Python and SQL, and they should be comfortable running statistical analyses and visualising data. 

OPERATIONS ANALYST 

Related job title: Operations Research Analyst 

An operations analyst focuses on the inner workings of a business, helping it run more efficiently. They typically work for larger companies or they work at consulting firms employed by bigger businesses.

MARKETING ANALYST 

Related job title: Market Research Analyst 

One of the biggest parts of any company’s budget is the money they spend on marketing efforts. A marketing analyst looks at market, campaign, and demographic data to ensure companies are executing marketing efforts in the most cost-effective and impactful way possible.

BUSINESS INTELLIGENCE ANALYST 

You’ll spend your days as a BI analyst looking for patterns in your company’s data. You’ll have to make sure you’re good at communicating and that you enjoy visualising data and modelling future scenarios. 

Is a business analyst the same as a data analyst? While the skill sets are similar, there are some differences. Here’s our take on business analyst vs. data analyst

LOGISTICS ANALYST

Logistics analysts look at every stage of a production process and product lifecycle. They may analyse supply chain flows and find areas of improvement to increase efficiency and profit for a company. 

DATA ANALYST CAREER OUTLOOK 

Companies, including retailers, investment banks, big tech, and professional services (including accounting and insurance), are all ramping up their data analytics workforce. Other industries hiring for data analysts include logistics, healthcare, government, and sports. 

ARE DATA ANALYST JOBS IN DEMAND? 

The Singapore Economic Development Board (EDB) stated that the data science industry in Singapore contributes an estimated $730 million (USD) to the economy annually. Operations research analysts and market research analysts are also high-growth job categories. 

WHAT’S THE AVERAGE SALARY WORKING IN DATA ANALYTICS? 

In Singapore, the median salary for a data analyst is SGD $99,000, with the middle 50% earning between SGD $75,000 and $137,000. Of course, how much you can earn as a data analyst depends on several factors including education, experience, industry, and geography. For example, the median data analyst salary in the United States is $113,250, with the middle 50% earning between $93,000 and $134,000. In Australia, the typical data analyst salary is in the range of AUD $114,500 and $143,500

Experience and industry can also have an impact on your expected salary. An entry-level data analyst in Singapore’s financial services industry, for example, earns a median salary of SGD $60,000, while a senioranalyst in the same industry earns SGD $74,000 and a director in analytics earns SGD $132,000. 

HOW TO BECOME A DATA ANALYST

Most data analytics jobs require a bachelor’s degree. Degree programs in mathematics, statistics, business, or economics are ideal, but college grads can re-skill for data analytics with any major. 

There have never been more options for individuals to skill up for a career switch, and some employers will even pay for it because of fast-changing business needs. Here are twoways to gain the data analytics skills you need to fast-track a new career in this field:

#1: PART-TIME DATA ANALYTICS COURSE

If you have a full-time job or other responsibilities, a part-time course can be a good option and offers accountability for a set curriculum and timeline. However, the part-time model takes longer to finish and longer to reach the job market than a full-time option. 

#2: FULL-TIME DATA ANALYTICS BOOTCAMP

What is a data analytics bootcamp? Bootcamps provide immersive, intensive training for entry-level professionals in a field. Bootcamps can be in-person or online and are instructor-led, often with multiple speakers and mentors for a course and a cohort. 

So, which option is the best for you? It really depends on your background and learning style.  

If you have transferable skills and experience, you may only need to brush up on a programming language like Python to make the leap. If you’re coming from an unrelated field or from a career break, a more immersive, structured program like a bootcamp may be your best bet to get job-ready. 

GO FROM BEGINNER TO DATA ANALYST IN 12 WEEKS

General Assembly’s Data Analytics Bootcamp is designed for complete beginners. Get hands-on training from actual data analysts working in the field, and graduate in just 12 weeks ready for your first data analyst job. It’s the most direct route to your new data analyst career.

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