For those whose interest lies in analyzing problems and trying to come up with creative and out of the box solutions, a career in data analysis is the choice to make. Every organization has vast data and the success of any company lies in making the right use of relevant data for the progress of the company.
Although people usually get confused with similar sounding terms like business analyst, database analyst and system analyst, the job profile of data analyst includes various responsibilities. Everyday gives a chance to learn something new and challenging and finding solutions to difficult problems which makes the job more enjoyable.
Every industry has different requirements and specification and according to that the job description is slightly modified to suit the industry in which the data analyst is working in. The analyst needs to be well versed with the technology used in the industry, the software being made use of in that particular company and the ability to analyze data using that software to produce worthy results for the organization. The job of data analysts involves the designing and development of databases which portray the business objectives of clients, data requirements and needs of the firm. It is very essential for one to possess knowledge in the field of computers and statistical tools for accurate analysis.
One is required to have sufficient knowledge in subjects like statistics, mathematics, business administration and computers. Apart from technical knowledge, one must also know and understand the sector of the industry in which he is going to work, in order to understand the environment and factors directly having an impact on that business.
Data analysis is the lifeblood of any business and whether it is developing a new market strategy or a new product in itself, data analysis plays a very vital role. It involves the sorting, transforming and modeling of data to keep only useful information out of the entire bank of data available to the firm. There are several tools and techniques that aid an analyst in making several comparisons and analyses till the perfect solution is arrived at. It is a critical success factor for every organization because data analysis is important to structure the findings of any research or data collection. It helps to break a macro picture into a micro one and helps to take crucial decisions from the outcomes. Also, making use of statistical tools and computer soft wares, any bias which may be possible due to human nature, can be ruled out, thus ensuring the authenticity of the results.
Though this job is highly demanding in terms of technical and functional knowledge, there is a huge job market for this. It is a very lucrative career path, which is steadily growing and can make the data analyst reach greater heights. It is also a field where one can never know enough about and hence gives a chance to keep updating oneself and adding to one’s knowledge bank.