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Future Of Data Analytics

Data Analytics is a very important field of study which has shown a lot of promise in the business sector. Ever since it first showed up, Data Analytics has helped many businesses and organisations reach their highest potentials. The field of study is universal and its teachings are applicable everywhere.

future of data analytics intro

What is Data Analytics?

Businesses and organisations collect a lot of data on a daily basis in many forms and figures. Most of it used to be in the form of transcripts and customer reviews, but with the advancement into the digital age, this data has taken the form of ones and zeros. Some professionals realised that this collected data has a more applicable purpose than just tracking the company’s assets. It was understood that when cleaned and organised the information obtained can be used to gain important insight into businesses progress, sales of the product, customers reaction to the product and current market trends.

The Data Analytics course includes a balanced combination of mathematics and computing technology. Mathematically, students will be taught subjects like statistics, probability, permutation and combination as these topics deal with plotting data. Computing technology has become a need since the data has become digital and increased in size. In order to organise the data professionals, need to learn machine language and algorithm writing. Other than these, other subjects may need to study if the professionals work in specific fields, for example, if involved in Business Analytics, the professionals need to have a certain amount of business acumen.

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Job Opportunities After Masters in Data Analytics

jobs after data analytics

Data Science is a field if much importance and has many applications in the business world. Following are some of the job opportunities which a data Analytics professional can apply for

Business Intelligence Developer

Data science professionals decrypt and organise data in order to gain useful information. A business intelligence developer’s job is to take this newly gained information and after having analysed, create strategies which can be used to improve the company.

 IT Systems Analyst

This job would find professionals dealing with creating creative solutions to problems found in the information technology section of a business. The professionals would be required to use specially created software, generally third-party based, and use them to collect data and find any discrepancies

Healthcare Data Analyst

Professionals will be directly involved in the medical sector. They could be hired by pharma companies, hospitals or insurance companies. Their job would be to collect and sort important data pertaining to healthcare like data from wireless pacemakers and health tracking devices like apple watches.

Operations Analysts 

The job of an operations analyst is more internal, that is to say, they will be involved with tracking the workings inside a company. They would be required to track the data of a team or project to show their progress, efficiency and ability to meet deadlines.

Data Engineers

While data scientists and analysts are focused on understanding the data, there is a need for individuals who create the necessary infrastructure to break this data down. Data Engineers save their skill sets for large projects with terabytes of data. Their job is to look at the data and design the steps and methods to deconstruct it to gain information.

Quantitative Analysts

These types of analysts focus primarily on studying the market. Their jobs involve collecting recent information, like news, sales and marketing trends to create investment models. This is a well-paying profession and many companies would love to have a quantitative professional on their side.

Consultants

Though this is a good profession to get into, it is advisable to professionals who have amassed a few years in the job. As a consultant, you would be working with companies and various projects. You would have the option to pick your own work and be your own boss. You could open up your own consulting firm and create a team of well-trained professionals.

future of data analytics growth

Future of Data Analytics  :  Keypoints

As mentioned above, Data Analytics is the art of cleaning and untangling collected data for useful and action worthy information that businesses could use. For many years, this information remained stagnant and was only used for bookkeeping purposes, but things have changed.

The information gained by data analytics has been known to have positive effects in improving the profits of the company. Many companies have learned that data analytics have variable applications in all sectors of the company. This makes these professionals an invaluable asset for an organisation. Following are some of the ways in which Data Analytics helps businesses grow and have a bright future.

 Stay Current

As the business market keeps on developing and evolving the companies need to be at toe with them. In order to do so, it is important to have information about the direction the market will take. Data Analysts can help in keeping business stay current and ahead of everyone by understanding the recent trends, sometimes even before they come into play.

Customer Service

Businesses, irrespective of the product they are selling, need to make sure that their customers are satisfied. The best way to learn how customers are reacting to the product or service is to collect data from them in the form of reviews and sales data. Data Analysts specifically trained in the field can give insight into the customer and help in targeting the right demographic.

Fast and Accurate

Ever since the digital age the data collected has taken the form of 1s and 0s. Hence, the people working in the field of data analytics have learned the skills like machine learning and any computing languages. Not only does the use of computers help sort the information at a faster rate, but it also helps in giving very accurate figures and facts.

Cost Reduction

Data Analytics, ever since the recent development in technology, has become a field which is heavily reliant on using computers, writing scripts In computer language and using advanced data sorting software. It is safe to say that data analytics, which should have been a task carried out by a team, can easily be done by one person well versed in using a computer. This helps companies dissolve unnecessary departments and use these resources in more necessary areas.

Always Improving

The field heavily relies on using technology in order to get the work done. Tech skills lacking software development and writing an advanced program in high-level computing scripts is necessary. But as the years keep on going the technology will keep advancing and new methods would keep on developing. The field would be able to create better and faster solutions.

As can be seen above, Data Analytics is a very beneficial field of profession and study that helps use data which may seem uninteresting and gain information from it. The businesses today have also understood the need for Data Analysts and use the professionals of this field in varying parts of the company.

Data Analytics remains a new subject and has not been able to create a fan following as strong as that of courses like Master in Business Administration and Master in Management no doubt people are irresolute about Future of Data Analytics . But since companies have started to show much interest in professionals of this field, many students have started to migrate to Data Analytics. The field and job market are estimated to swell even more and help many find fulfilling careers.

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