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What is the Scope of a Data Analyst

What is the Scope of a Data Analyst

by Ragini Salampure

Data analysts are almost everywhere, be it a healthcare center, retail store, or fast-food chain! Data analysts play an integral role in benefitting the organization they work for because they bring out vital data and information that can help organizations learn better about their customers and make informed decisions. You can find their involvement in any stage of the data analysis process, starting from developing systems to gather data to compiling their findings into reports to enable their organization to perform better. Considering the spike in data analysts’ demand, IT professionals seek formal training in data analysis through various online courses like the Data analyst course in Jaipur.

As you have gained a basic idea about what data analysts do, let’s dive deeper to know who they are, how to become one, and their future scope and salary.

Who is a data analyst?

A data analyst is the one who is responsible for retrieving and gathering data, organizing it, carrying statistical analysis, and drawing meaningful insights. The work of a data analyst is chiefly governed by the kind of data they are dealing with and the type of project they are involved in. 

What role do data analysts play?

A majority of the organizations nowadays are adopting a data-driven approach to understand the processes well and make wise decisions that can immensely benefit the organization. Thus, data analysts have got a wide array of roles and responsibilities to play for the smooth functioning of an organization, which commonly includes:

  • To design and maintain data systems and databases, including rectifying coding errors and other problems pertaining to data.
  • To mine data from primary and secondary data sources and then arrange the required data set in a format that humans and systems can easily interpret.
  • To use statistical tools for the interpretation of data sets, paying specific importance to trends and patterns that can be useful for diagnostic and predictive analytics.
  • To Demonstrate the importance of their role concerning local, national, and global trends that can affect both organization and industry.
  • To Design and develop reports that can appropriately depict trends, patterns and predictions based on the collected data.
  • To collaborate with programmers, engineers, and team leaders to recognize opportunities process enhancements, suggest changes in the system, and develop data governance policies.
  • To create documentation through which stakeholders can easily comprehend steps involved in the data analysis process and repeat the analysis if necessary.

Skills Required to Become a Data Analyst

An efficient data analyst needs to possess technical and leadership skills. Let’s learn about these skills in detail for a better understanding.

  • Technical skills: As part of the technical skills, data analysts need to have in-depth knowledge of database languages like SQL, R, or Python, spreadsheet tools like MS Excel or Google Sheets, and data visualization tools like Tableau or Qlik. Additionally, it’s of utmost importance for data analysts to have good computational and mathematical skills to collect, organize, measure, and analyze data effectively.
  • Leadership skills: Adequate leadership skills enable data analysts to make better decisions and solve problems easily. Such abilities allow data analysts to be strategic in their approach while analyzing data and communicating the insights to stakeholders to make data-driven decisions in the organization’s best interests.

Future Scope of a Data Analyst

One of the research findings of Global Big Data Analytics Market Fueling Artificial Intelligence states that the demand for big data analytics is projected to spike exponentially, with big data analytics predicted to grow by 4.5 times, generating a revenue of $68.09 billion by 2025 from $14.85 billion in 2019. 

The expert opinions mentioned below will help you picturise the scope of data analysts in the future:

  • In the upcoming days, data analytics will have a pivotal role to play in the market. They will be regarded as the protectors of data as they will be involved in data analysis and take care of data privacy, data breach, etc.
  • It’s projected that the ”Internet of Things”, commonly known as IoT, will witness exceptional growth. The overall management, analysis, and safeguarding of large volumes of data produced by IoT will continue to hold an important place in the market.
  • Experts believe that upcoming days will bring in the golden era of cognitive analysis to witness tremendous growth.
  • PWC has predicted that there will be nearly 2.7 million job openings related to data analytics by 2026, giving hope to professionals seeking career opportunities in data analytics.

Data Analyst Salaries 

On average, a data analyst in India earns around ₹4,41,380 in a year. At the entry level, data analysts make nearly 3.5 LPA in a year, increasing the experience. Let’s look at the median salary or average salary of a data analyst in India corresponding to the number of years of experience.

Job Experience (Years) Average Annual Salary (in INR)
<1 year 3,43,000
1-4 years 4,27,000
5-9 years 6,96,000
10-19 years 9,35,000
20+ years 20,00,000

Wrapping Up

We’re hopeful that this article would have been helpful in giving you an idea about the job role of data analysts, their future scope, and their salary. By the end of this article, we know how crucial the role of a data analyst is and how they can determine the success of a business through data-driven insights.

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