Data Analytics: Importance, Scope and Career Prospects

Data Analytics examines the data with the help of various software and techniques for concluding to make business decisions. Through data analytics, it will be easy for the business organisations to improve their customer service, increase their revenue tools, operational efficiency etc. The major roles of a Data Analyst are to collect and interpret the data, analysis the results, reporting the results to concerned departments of the organisation, develop and analysing the new methods of data collection, identifying the pattern and trends in the analysed data etc. 

Methodologies adopted by the Data Analyst has mentioned as follows:

• Confirmatory Data Analysis
• Exploratory Data Analysis

CDA analyses the ingenuity of the hypotheses formed from the collected data. EDA finds the relationship and the pattern of the given or collected data.

The person who wishes to build a career in data analytics should possess the following skills.

• Analytical and numerical skills
• Communication skill
• Keen knowledge in computer software
• Interpretative and problem-solving skills

To pursue courses in Data Analyst the candidates should possess the graduation in Economics, Computer Science, Mathematics and Statistics with at least 60% mark from any recognises university or colleges. The applicants for Data Analyst should acquire the work experience of 3to 4-years.

 There are various undergraduate (BE/BTech & BSc) and postgraduate courses (MSc/MCA/MTech & MBA/PGDM) in Data Analytics.

Some of them are:

• Post Graduate Programme in Business Analytics
• Certified Program in Business Analytics
• Certificate Programme on Business Analytics and Intelligence
• A certificate program in business analytics for executives
• Executive Programme in Business Analytics
• Post Graduate Program in Business Analytics
• Post Graduate Programme in Business Analytics and Big Data
• Post Graduate Certificate in Predictive Business Analytics
• Certificate Program in Big Data and Analytics (BDAP)
• PGDM in Analytics Specialization
• Executive Program in Business Analytics and Business Intelligence
• PGDM in Business Intelligence and Big data

Common subjects that cover under the Data Analytics program are:

• Data Structures and Algorithms
• Probability and Statistics
• Relational Database Management Systems
• Business Fundamentals
• Text Analytics
• Data Collection
• Data Visualization
• Statistical Analysis
• Forecasting Analytics
• Simulation
• Machine Learning
• Optimization
• Marketing Analytics
• Pricing Analytics
• Social Network Analysis
• Retail Analytics
• Customer Analytics
• Supply Chain Analytics

Career Prospects in Data Analytics

The scope and the career prospects of Data Analytics have increased as technology increases. There various field in both the government and the private where the aspirants can find opportunities for their future. The employment areas of a Data Analyst are:

• Heavy Industries
• Insurance
• Banking
• Electronics
• Marketing & Sales
• Finance
• Consumer Goods

Major Companies that recruit Data Analytics

Job Opportunities

• Information Architect
• Business Analyst
• Data Engineering
• Product Manager
• Digital Marketing Manager
• Data Scientist

As the technology and the requirements of various organisations and business are increasing, the Scope and opportunities in Data Analytics will also increase. A person with Analytical skills, Proficiency in Mathematics and statistics and computer programming have great possibilities in this field.