The Next Big Career In IT- Data Analytics

The information technology stands on one principle that is future is now. The application of knowledge in this direction fast forwarded the world in the present. A window to peek into the future is opened thanks to the IT sector. For the first time ever, the five most valuable companies in the world were all technology companies. IT industry is continuing to shape the world in different and unsettling ways. Innovations which were only words in fiction are brought alive and they are way beyond just being alive. The IT industry is evolving restlessly with competitive pressures, giving birth to advanced areas such as virtual reality, artificial intelligence, advanced analytics, the Internet of things, and inevitably, a few unexpected breakthroughs. It is forecasted that the global IT industry will witness a growth of 4.1 percent in 2017which if materialized will push the $3.4 trillion global IT industry past the $3.5 trillion marks by year’s end.

Amongst the four ruling pillars of IT sector i.e. infrastructure, development, security, and data, an outgrowing demand is seen in the data sector. The data sector which used to be a standalone team is in a transition phase where many currently sit and join with other data specialists to harness the power of organizational data. Data analytics is on the rise to rule and revolutionize the future of IT sector. From social media and public records to mobile phone apps, the most online store browsed or the most visited place for bachelorette are tracked and listed as a function of data analytics. Data analytics is the process of investigating and collecting data, separating and filtering into required data, present it in visuals and finally convert into valuable decisions.

Data analytics forms the right wing of organizations as they are capable of analyzing their data and resources and take their next step for success. Right from banking, securities, communications, media and entertainment, healthcare providers, education, manufacturing and natural resources, government, insurance, retail and wholesale trade all have put their money into data analytics. Data analytics have assisted organizations in evaluating their resources, understanding the target audience, strategize product offerings based on surveyed needs, recalibrate their market, and finally formulate sales and strategies to conquer the consumer ground. Companies are aware of the losses without analyzing where valuable time, money, market share, reputation and customer loyalty are subjected to risks.

This demand for assistance to witness exponential growth in organizations has made data analytics the top ranked job in the list of many other professions. As per the numbers in statistics, by 2020, about 1.7 megabytes of new information will be created every second for every human. This shows the continuous process of unlocking knowledge and the high need for data analysts to analyze knowledge and use it accordingly. The data analytics offers professionals with job flexibility which is not constrained to 9 to 5 routine, a wide range of job profiles to pick the most suitable, a high rewarding salary with the luxury of many zeroes, a wide ground for career growth and finally reach job satisfaction. A data analyst is exposed to various realms of business like marketing strategy, marketing management, financial analysis, digital marketing, SEO management, customer feedback management, property management, web analytics management, marketing automation, capital and asset management and HR strategy and analysis. The data analyst works like a detective, thinker, artist and finally judge making game-changing decisions. Data analysis has its hand right from the third word prediction in the Google search bar to the most awaiting iPhone series.

The becoming of a data analyst mainly involves an interest in IT, statistical and analytical skills. The grammar of data analysts being numbers demands a strong foundation in math which is a building block in becoming a better manager of large volumes of data. The knack of persisting in a challenge provided with problem-solving techniques can extend the grounds of success. A data analyst needs to prey on macro and microdata with precision. Computer skills that are useful are statistical language (SPSS, SAS, R), Spreadsheet (Excel), a scripting language (Matlab, Python), and Querying Language (Pig, Hive, SQL). Topping up with the above facts, a data analyst needs to be an efficient communicator to effectively express complex concepts in the simplest form to executives with varying technical knowledge. This need for a complete package of skillset has created a huge void thus shooting up the dire demand for data analysts. These extremely abundant, lucrative jobs offer profiles as Data Analyst, Data Scientist, Data and Analytics Manager, Data Architect, Data Engineer and other varied profiles accompanied with attractive paychecks.

The Jobs of the Future has a survey in Data Analysis Skills report which says that over the past five years, nearly two-thirds of organizations (65%) have increased the number of vacancies requiring data analysis skills, and more than half (59%) expect to increase the number of positions at their organizations over the next five years. Those employers who filled a data analysis position within the last 12 months faced a challenge, with 78% reporting they had difficulty recruiting qualified candidates. Such is the imbalance that has turned into a boon and has occupied the top three positions in the list of most sought after jobs. The IIM Rohtak Data Analytics Program, with one of the most comprehensive curricula in India in advanced analytics technologies and platforms, has emerged as the preferred choice for professionals to get certified in this lucrative and high potential career segment.

Earn ePGCPM (Specialization in Business Analytics) with IMI