Data Analyst: Roles, Responsibilities, and Salary trends
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Data is becoming increasingly crucial for making critical business decisions. All types of businesses use data to determine which new products to create, which markets to enter, which investments to make, and which potential clients to pursue.
As a result, data analysis skills are fairly in demand, which has increased job demands in the industry.
If you're someone who wants to work in the field of data analytics, you’ve landed at the right place. In this article, we'll walk you through the industry's fundamentals, including a data analyst job description, the skills required for data analysts, their roles and responsibilities, and the types of Data Analysts.
To know more about the Data Analyst job role, responsibilities, and salaries, talk to OdinSchool’s Admission Counsellors.
Key Responsibilities Of A Data Analyst
The key responsibilities of a data analyst job role differ depending on the type of organization and the extent to which a company has implemented data-driven decision-making practices.
In general, a data analyst is in charge of organizing data related to sales figures, market research, logistics, linguistics, or other behaviours. They rely on technical expertise to ensure data accuracy and quality. The data is then analyzed, designed, and presented in such a way that individuals, businesses, and organizations can make better decisions.
The basic job responsibilities of a data analyst typically include the following:
- Collaborate with programmers, engineers, and organizational leaders to identify process improvement opportunities, recommend system changes, and develop data governance policies.
- Design and maintain data systems and databases, including the correction of coding errors and other data-related issues.
- Data mining from primary and secondary sources is followed by data reorganization in a format that can be easily read by humans or machines.
- Creating reports for executive leadership that use relevant data to effectively communicate trends, patterns, and predictions.
- Demonstrate the importance of their work in the context of local, national, and global trends that affect their organization and industry.
- Develop documentation that enables stakeholders to understand the data analysis process and, if necessary, duplicate or replicate the analysis.
EDA, or Exploratory Data Analysis Project, is another essential component of the data analyst job description. The analyst must scrutinize data in such data analyst projects to recognize and identify patterns. The next thing for data analysts is to use data modeling techniques to summarize the overall characteristics of data analysis.
Skills Required To Become A Data Analyst
Now that you know what a data analyst does, let's look at the data analyst skills needed to become one. A successful data analyst must possess both technical and leadership abilities. A solid foundation in mathematics, statistics, computer science, information management, or economics can help you build a career as a data analyst.
Technical knowledge of database design and development, data models, data mining techniques, and segmentation.
Strong mathematical skills to help in the collection, measurement, organization, and analysis of data. Knowledge of programming languages such as SQL, Oracle, R, MATLAB, and Python
Proficiency in statistics and statistical software such as Excel, SPSS, and SAS for data set analysis
Excellent knowledge of data processing platforms such as Hadoop and Apache Spark
Expert at conducting research, writing reports, and delivering presentations
Understanding of data visualization software such as Tableau and Qlik
Understanding how to create and apply the most accurate algorithms to datasets to solve problems
Verbal and Written communication skills
Precision and attention to detail
Proven data analysis work experience
The Data Analyst job description must have given you a pretty good idea of all you need to qualify for a Data Analyst job role. Having the above-mentioned skills can help you get a job even if you’re a fresher.
Types Of Data Analysts
Business analysts use data to provide business insights and promote improvements inside firms and other organizations. Business analysts can spot issues in practically every area of a company, including employee development, IT procedures, and organizational structures. Business analytics is progressively turning into a crucial part of how businesses operate as they work to increase their overall effectiveness and cut costs.
Market Research Analyst
Analysts in market research collect and analyze consumer and competitor data. Analysts of market research investigate market conditions to forecast future sales of a product or service. They help businesses determine which items customers want, who will buy them, and at what price.
Business Intelligence Analyst
To help businesses make wise business decisions, business intelligence analysts (BI analysts) analyze data and other information. They might gather, purify, and analyze information about a company's sales, revenue, market intelligence, or consumer engagement metrics. To help with data visualization or monitoring, BI analysts may also be required to develop tools and data models.
Medical And Health Care Analyst
Medical and healthcare data analysts, as the name implies, use data from various sources to help improve healthcare outcomes. They typically focus on the business side of medicine, such as improving patient care or streamlining operations.
Operations Research Analyst
High-level problem solvers and operations research analysts use mathematical modelling, data mining, statistical analysis, and optimization to develop solutions that help businesses and organizations operate more effectively and efficiently.
Intelligence analysts analyze data and information to find and address security issues. Information sources include internal and external statistics, databases, and field reports. Analysts need strong research, comprehension, and analytical skills to combine information and produce action plans.
How Much Do Data Analysts Earn?
A data analyst's annual pay might range from ₹1.9 Lakhs to ₹11.2 Lakhs with an average annual salary of ₹4.3 Lakhs. Jobs in financial and technological companies typically pay more than the national average, according to the job listings on the websites.
The role of a Data Analyst is the first step for you in the world of Data Science. Data analysts can advance to positions like data scientists, senior data analysts, analytics managers, and business analysts, according to PayScale. The remuneration for these positions has also increased significantly. According to Payscale, the average compensation for data scientists is ₹10.6 LPA, and the starting salary for analytics managers is around ₹20.1 LPA.
Additionally, check out the Salary Calculator to understand your earning potential in the Data Science domain.
Start Your Career As A Data Analyst Today!
Are you interested in becoming a data analyst now that you are familiar with the position's duties, abilities, and requirements? Let's examine professional development in detail. If you have a certification from a well-regarded Data Science Bootcamp, like the ones we provide here at OdinSchool, it would be simple for you to land an entry-level data analysis job. Consider the following to have a successful career as a data analyst, even if you don't have any prior experience in the field.
Obtain a bachelor's degree in an area that stresses statistical and analytical abilities from a reputable university.
Gain knowledge of data analytics.
Consider obtaining a certificate in Business Analytics or Data Science.
Get your first job as a data analyst.
You can advance to the data scientist position by earning a master's degree in data analytics.
Wherever you are, there is no shortage of employment opportunities for talented data analysts. Regardless of the sector you decide to work in, a career as a data analyst is a rewarding one to begin.
Do you want to know more about Data Analyst jobs and how to become a Data Analyst? OdinSchool's Data Science Bootcamp will help you not only prepare for data analyst interview questions but also get placed at top companies like PepsiCo, Deloitte, Prolifics, Genpact, Capgemini, and so on.