Data analyst job is among the most important career avenues available to graduates and experienced professionals today. A data analyst translates billions of data points into simple information for various verticals of the business that help teams create powerful insights and data-driven decision-making channels.
In today’s complex business set up, a data analyst could be working with multiple data channels, segregated into structured and unstructured data that could save companies millions of dollars and provide them a competitive edge over their rivals.
What does a data analyst do?
A dream for most professionals and graduates today, jobs in the data analysis has piqued the interest of employers who are looking to uncover the lid off their enterprise data. Generally speaking, a data analyst would collect, segment, analyze, organize and derive meaningful information from data within a stipulated timeline. Too much time and cost involved in traditional data management and analytics have cost companies billions of dollars as ‘data wastage’.
Here are five reasons why a data analyst today has to plug data wastage.
What is Data Wastage?
Data wastage is the historical trend of finding ambiguity of data due to the passage of time. It could be due to non-availability of relevant references, or due to data leakage from various sources. Data warehousing and data processing time are critical factors in plugging the gaps in data wastage. Due to powerful real-time analytics and reporting tools available to data companies, data wastage has been brought down by a significant percentage. Companies like IBM, SAP, Oracle and others find their data wastage at less than 20% in most cases, depending on the kind of business vertical they cater to.
The success rates are high with companies that have focused on hiring and building a team of data analysts with valid Data Analytics certification from the prestigious academic institutions and coaching centers.
Regardless of the number of companies employing data analysts, this elite set of professionals is expected to spend their time and mind-share on developing systems for collecting and processing data, real time and with accuracy.
A normal day for an entry-level data analyst would ideally look like this –
Producing 5-6 data reports based on visualization tools
Professionals with data analytics certification would be working with at least three or more data reporting tools and visualization tools to produce and maintain internal and client-facing reports. This gives the decision-making management new insights into how trends are changing and which areas they should focus on.
Surprisingly, data analysts are the most collaborative groups in the company, given their analytical background. As this group with a large volume of data, facts and figures, this group need to spend 8-10 hours daily analyzing hundreds of GB of data using machine learning and AI algorithms.
Data analysts and scientists employed with leading data companies and aggregators are highly-skilled professionals. With competition catching up, a certification in data analytics could land you at the right place, at the right time.