June 22, 2024

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Career in Data Analytics: Data Analytics Career Blueprint: Key Skills, Education, Eligibility, and Industry Landscape

6 min read
A data analyst is a skilled professional who specializes in examining and interpreting large sets of data to uncover valuable insights and trends. They play a vital role in various industries by extracting meaningful information from raw data, helping organizations make informed decisions. Data analysts possess expertise in utilizing statistical techniques, programming languages, and data visualization tools to present their findings effectively.

Top professional courses on Data Analytics

Offering College Course Website
Indian School of Business Applied Business Analytics Visit
IIM Kozhikode Professional Certificate Programme in Advanced Data Analytics for Managers Visit

In today’s data-driven world, the demand for data analysts is on the rise. Companies across sectors, from technology to finance and healthcare, rely heavily on data to enhance their operations and strategies. Data analysts are crucial for identifying consumer behaviour patterns, optimizing processes, predicting trends, and guiding business growth. As businesses gather more data than ever before, skilled data analysts are essential to transform this information into actionable knowledge. This high demand for data analysts is expected to continue growing as organizations increasingly recognize the competitive advantage that data-driven insights can provide.

Aspiring applicants who are studying undergraduate or graduate degrees in a relevant subject, such as computer science, mathematics, or statistics, meet the basic requirements to become a Data Analyst. From any of the top data science colleges in the nation, they can also pursue undergraduate or graduate degrees in data science or data analytics. JEE Main, JEE Advanced, and GATE are just a few of the engineering entrance exams used to determine admission to these colleges.

Explore Applied Business Analytics

How To Become a Data Analyst: Overview

Particulars
Details
Industry Type Information Technology
Eligibility Criteria Undergraduate or postgraduate in data science or data analysis
Top Recruiters TCS, Accenture, IBM, Tech Mahindra, Capgemini India Pvt Ltd, and Genpact.
Skills Required Databases in SQL Languages for Querying Databases Knowledge of Advanced Microsoft Excel, Programming Languages (R/SAS), and Data Visualisation
Average Salary Rs 5 lakhs per annum

Eligibility For becoming Data Analyst

Below is a list of the main credentials needed to become a data analyst for your reference.

  • Aspiring students must earn a bachelor’s degree, ideally in statistics or information technology, with at least 60% overall or an equivalent grade point average (CGPA).
  • To become a Data Analyst, students must hold a degree in Economics, Statistics, Computer Science, or Mathematics.
  • Aspiring applicants should have a minimum of three to four years of professional experience in data mining because data analysts need to have both the necessary knowledge and practical expertise in the field.

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Steps To Become Data Analyst

Students don’t take much time to pick which educational path they want to take or what job they want to pursue in today’s rapidly changing environment. However, it would necessitate some kind of preparation beginning in the classroom. Students could learn what has to be done to become a data analyst by following the steps listed below.

  • Complete your education by earning a Bachelor’s degree in a field-related subject. You should also have a solid grasp of statistics and analytical abilities, such as those found in computer science or mathematics. This will provide you with a fundamental understanding of the subject and help you build a firm foundation upon it.
  • Adapt your data analytical skills. To succeed in your career, you can improve your knowledge of data visualisation, SQL databases, data mining and cleaning, and programming languages.
  • To become a data analyst, you can seek a variety of credentials, including the Certified Analytics Professional, Google Data Analytics Certificate, Microsoft Certified: Data Analyst Associate, and more.
  • Get an internship: Getting an internship not only helps a candidate get ready for the job but also gives them first-hand knowledge of the field. Candidates will learn how things operate in a real situation through an internship.
  • Pursue a Master’s Degree: After accumulating a significant amount of experience, individuals may decide to go back to school and earn a Master’s degree in a relevant field, which will help them advance in the workplace and see an enormous increase in their compensation.

Data Analyst After Class 12

UG Preparation
For your reference, some of the critical actions that must be taken to become a Data Analyst after passing the Class 12th board exams are listed below:

  • Students who want to be data analysts at the undergraduate level should first concentrate on passing the entrance exam and enrolling in a bachelor’s degree programme.
  • A B.E. or B.Tech. course is possible. Additionally, the candidates have the option of enrolling in different programmes like a BCA, BSc in Computer Science, BSc in Mathematics, etc.
  • Candidates should concentrate on establishing a thorough understanding of several topics during their undergraduate coursework, such as statistics, trends and pattern analysis, result analysis, etc.
  • Throughout their undergraduate degree, candidates should strive to maintain an average grade point average of 7.5, or 65%.

PG Preparation
After completing graduation, the essential steps to do in order to become a data analyst are

  • Candidates can apply for admission by taking the GATE exam after completing the UG programme.
  • Only 15 to 20% of applicants each year pass the entrance exam, thus hopefuls need to work significantly harder to do well on the GATE exam.
  • The candidates must select their area of specialisation based on their interests and strengths.
  • Numerous universities collaborate with numerous corporations to offer internships, projects, and other opportunities for students to gain practical experience.
  • The candidates might choose PhD programmes and continue their studies after completing the PG programme.

Companies and governmental bodies can collect data and spot patterns with the use of data analytics. Data analytics are employed in many different industries and make a substantial contribution to economic progress. According to Analytics India Magazine, there is a huge need for data analytics engineers in India’s non-IT businesses. Unique solutions have been created for a number of non-IT sectors as a result of the novel approach of using data analytics and AI to solve challenges. Following are some of the important industries where data analytics plays a significant role.

  • IT Sector: In the IT sector, data analytics plays a pivotal role in extracting insights from vast datasets. Companies use data analytics to enhance user experiences, optimize software performance, and improve cybersecurity. It aids in identifying trends, predicting potential issues, and making informed decisions. By analyzing user behaviour, IT firms can tailor their products and services, resulting in better customer satisfaction. Additionally, data analytics assists in detecting anomalies and potential threats, ensuring robust data protection and system integrity.
  • Banking, Financial Services, and Insurance: BFSI is the second-largest sector in terms of data analytics investment, with a market share of 13.9%. In the BFSI industry, a number of businesses with a focus on data analytics have arisen. With a market cap of USD 31 billion, India has the third-largest fintech market in the world. India’s fintech transactions are anticipated to exceed US$ 140 billion in value. Data analytics and/or artificial intelligence have all been used by Paytm, PhonePe, MobiKwik, and Policybazaar to grow their businesses.
  • Retail and e-commerce: It is anticipated that the e-commerce market would be worth USD 50 billion in 2020. According to NASSCOM, 1.2 million transactions are made in the e-commerce sector every day. The industry is anticipated to surpass the United States as the second-largest retail market in the globe by 2034. 5.9% of the market for data analytics is accounted for by the retail and e-commerce sectors. The e-commerce giant Amazon recently disclosed that 29% of its sales come from hybrid recommender systems.

Top Recruiters

Some of the largest companies that employ both seasoned and new data analysts are:

  • Amazon
  • Genpact Data
  • Microsoft
  • TCS
  • Accenture
  • Tech Mahindra
  • Wipro
  • Infosys

Salary of Data Analyst

In India, a data analyst typically earns between INR 4.2 LPA and 11.10 LPA in compensation. However, as one gains exposure, experience, and knowledge, this sum steadily increases sharply.

Frequently Asked Questions

Ques. Is working as a data analyst a wise choice?
Ans. The need for data analysts has grown significantly in recent years. The greatest candidates for the job of data analyst would be those that are strong communicators, have programming language expertise, and have analytical thinking abilities.

Ques. What equipment does a data analyst utilise?
Ans. A data analyst uses a variety of technologies while working, including Tableau, SQL, Python, R, Microsoft Excel, and more.

Ques. How much does a data analyst make on average per year?
Ans. A data analyst typically earns around INR 4,10,000 per year.

Disclaimer: This content was authored by the content team of ET Spotlight team. The news and editorial staff of ET had no role in the creation of this article.

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