People nowadays are increasingly taking interest in knowing all about Data Analytics. Especially after it has become one of the most popular skills in the current job market. So, if you are one of those people who are intrigued to understand what data analytics means and what is the right way to make a career in it, then this article is just what you need to read and all your questions will be answered.
What is Data Analytics?
Data Analytics is basically a science that involves gathering, organizing as well as analyzing huge sets of data. This activity is undertaken in order to identify patterns and extracts conclusions.
To understand this in-depth, let us take an example of a fast food chain where the executives wish to add a few more items on the menu. In a case like this one, a Data Analyst can gather and analyze data related to food purchases that took place in the last five years.
This way, they can easily determine patterns within the data to figure out the most popular food products sold by their competitors. This is how the executives can decide which food items should be added to the menu to increase the profits of the fast-food chain.
At the time of taking initiatives, most of the industries apply Data Analytics to support decision making.
How is Data Analytics different from Business Analytics?
Individuals are mostly seen getting confused between Data Analytics & Business Analytics as they are somewhat used interchangeably by businessmen throughout the industry.
Both these functions are very similar as both involve the collection as well as analysis of data in order to support decision making and increase the effectiveness of organizations. However, if we talk about Business Analytics, its basic focus is a lot more on roles, procedures, operations along with the overall structure of an organization.
Business analytics involves identifying business problems and finding solutions to them for enabling change in an organization.
Data analytics, on the other hand, is way more focused on gathering, cleaning, evaluating, reporting as well as presenting data in the best possible manner. The data that is received by Analysts is not always organized or easy to comprehend. So, in order to make sense out of this raw information, they perform various practices to transform the messy data into usable knowledge.
Data analysts are experts in using diverse tools along with statistical methodology. They are mostly seen working closely with the management, interpreting data, translating outcomes together with testing theories.
Business Analysts are inclined towards anticipating the performance of a business by referring to its past performance, while Data Analysts prefer comparing an enterprise to its competitors for the sake of determining patterns to encourage success.
What traits should you acquire to become a successful Data Analyst?
If you are planning to build a career in Data Analytics, you will be required to have prior knowledge of programming, technology as well as statistics. However, having soft skills is also considered equally significant.
As a Data Analyst, it is an obligation to have solid math along with analysis skills. That’s why most organizations prefer hiring candidates holding a bachelor’s or a master’s degree in math, computer science, statistics, or perhaps some other subject which is closely associated with the field.
Moreover, there is high demand for individuals holding relevant certification in Data Analytics in the job market today. It’s because by pursuing Data Analysis certification you can prove your knowledge of the contemporary tools required to practice Data Analytics. And it shows a strong commitment towards your career which can set you apart from your competition.