What Career Prospects does Analytics bring along?
- May 20, 2016
- Posted by: iNurture
- Category: Blogs
Analytics plays an important role in the fields of data, web, digital, business, and customer relations, healthcare and so on. As the data in organizations is growing rapidly, it’s cumbersome to manage and consolidate data and create reports and analysis. Several technologies and tools have emerged to reduce the efforts to manage the data. But due to limitations provided by the business intelligence it has lead to the emergence of business analytics which plays a major role in providing insights to the organization and increasing the revenues and decreasing the operating costs.
Analytics these days have rapidly emerged in all the fields providing various job opportunities like the roles of data scientist, business intelligence manager, data architect, business intelligence architect, data engineer, business analyst and data analyst. They perform a variety of roles creating business models, designing the architecture, analyzing data , generating reports, specialized in dealing with analytic stools, applications and software’s. Globally the openings are huge, and the number of professionals experienced in analytics is less increasing the huge demand for analytics in the several sectors.
Organizations spend huge amount of funds on analytics to analyze and identify the patterns in the data, also to identify hidden patterns, which play an important role in providing insights to the organization. Technology professions having good analytical skills are having high priority in the markets locally and internationally.
Huge amounts of data is located in the organizations when used appropriately helps to take future decisions and also to improvise the recent business in a organization. Several different types of analytics focus on different areas like descriptive analysis which is concerned with the data which represent the past and discuses about the performance on the business outcome. Predictive analysis is mainly concerned with providing insights to the organization by taking into consideration of the data in the past. Discovery analytics is mainly concerned with the finding of hidden patterns of data and to conclude analysis from the patterns. Prescriptive analytics is mainly concerned with the providing decisions based on predictive, discovery and descriptive analytics.
Several big companies like Accenture, IBM and Deloitte are using analytics for providing insights considering the huge data patterns and offering several job prospects for students and experienced to choose their career in analytics. Skilled professionals with good quantitative ability, logical skills, mathematical ability, and knowledge in statistics, probability are a good fit for job roles in analytics.
Analytics is a sector which is emerging quickly, offering promising job roles and good pay structure and attracting the students worldwide to learn the analytics tools like SAS and R. Sometimes due to the changes in the market trends, people face tough times due to constant layoffs and low packages. Having skills in analytics, mastering of tools exposes to huge number of openings with good package sand having assured for a long term.
Having a degree in management also offers a scope to analytics field to understand the business strategy, solving the technical problem by implementing a analytics tools, managing the human resources, motivating the people which also helps organizations.Having masters degree in analytics, statistics, mathematics who can analyze huge amounts of data using algorithms, quantitative ability, ability to provide solutions, and analyze to provide good decision can become consultants, risk managers, data mining specialist who play an important role in an organization.
Several roles like metrics and analytics specialists, business intelligence and analytics consultant, analytics associate, solution architect, big data analyst, engineer, architect and business consultant are being paid good amounts which are more than amounts paid to the IT professionals.
At the end, analytics is an emerging field showing wide variety of opportunities to the students in the fields of math’s, statistics, IT, MBA. Several entrepreneurs also explore wide array of opportunities to explore and provide better applications. There is always a tremendous need for skilled professionals in analytics. New technologies are emerging which are working on large data sets from multiple sources in multiple formats to unlock it secrets and provide a decisive capability for an organization. In general, a general analysis and reporting is done using business intelligence but with the emergence of business analytics a new dimension has been added to evaluate the data more vigorously and to provide strong points to take decision relating to the business, customer relations, healthcare sectors etc. To further improvise the business strategy. Several organization like Oracle, Opera, IBM, Jasper soft are using data analytics in their organizations to meet their business needs and to draw insights for their organization.