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What is an Analyst of Data Blog

Jun 16, 2022

If you owned a time machine, it'd be easy to select a job. You could go to the 1980s and become a part of the personal computing revolution. Also, you can help light the way for humanity in the mid 1800s with an electrical engineer.

The analysis of data as per Forbes, is what Forbes calls the "new oil." Also, in other words, data is the commodity which will be the defining factor of this century. Ditto, says the economist: "The world's most valuable resource isn't more oil but data."

Having a background in the top commodity on earth will mean you never need to think about your paycheck again. Could a job in "new oil" be the best path for you? Let's look.

What Does an Analyst in Data Do?

If you read any job description, and you might think it seems extremely complex and demanding. Since data analysis is the act of analyzing, modeling and creating vast areas of information, these positions often sound like long days looking at a display. This isn't a bad thing.

But data analysis also calls for creativity along with ingenuity and problem-solving. If you enjoy puzzles, there's a decent likelihood that you'll like the job of an analyst of data. Let's zoom in on what you'll be doing in each of your roles:

Data Collect

There's nothing to analyze without having sufficient data from which to draw conclusions. This begins by removing the information that informs company decisions. Surveys, website analytics, customers' behavior, observations of their customers and financial information are the primary materials available to be processed.

This is often the role of a different type of specialist in data (more about that in the future) However, you could perform tasks that involve the collection of data.

Database Management

If you are in the field of data, databases are your new residence. If you were to work in oil and gas the job you would be doing would consist of monitoring and maintaining drilling equipment and other similar technologies. When it comes to data, the task is often exactly the same. Databases handle data, however, you must be able to identify coding errors, review and modify data, or convert databases into relevant material which other departments within your business can use.

Processing of Data

As wheat can't be transformed into bread with just a few steps, it's impossible to work with data until it's in the right, flexible form. Tools like Excel as well as programming language like Python as well as SQL are the big names on this list.

Modeling, Algorithms, and Innovation

Data analysis can sometimes feel similar to forecasting the weather. The job of a data analyst is to analyze oftentimes overwhelming amounts of data and transform it into actionable insights. It's the place where you can be creative. You have to spot patterns in the data--or in the event that you fail you can come up with new methods to findfor patterns within the data.

Communication

It is possible that you are a gifted mathematical or statistical scientist however, you'll never know how to become a data analyst until you know how to communicate the information you've collected. When "data" is an unprocessed material like oil, then imagine communication as your final, refined product. the insights to share with the decision-makers in your business.

Learn to be the Data Analyst

Degree and Education Requirements

What's the best degree to attain if you're looking to guarantee yourself a job in the field of data? A computer science degree? A data science degree? A mathematics degree or a statistics degree? Does there exist a thing as a data analytics diploma?

There's no one-size-fits-all answer , however it is recommended to have a bachelor's degree in information technology or statistical analysis. The maths degree is likely to be acceptable as long as you possess the necessary technical knowledge to be able to fill the job.

Your skills acquired from previous jobs or through certain certifications are as important as your academic training.

Python

SQL

Microsoft Excel

Laypeople might recognize Microsoft Excel as rows and columns that track the progress of the progress of a fantasy football league. It's in business, so much more. In addition to pure data, Excel helps you modify information and make it work with defined parameters in just a couple of clicks. This lets you "lasso" and process data quickly, automating the difficult manual tasks so you can skip to the more creative task of figuring out what to do with all of your data.

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The Average Data Analyst Salary

If you're working in a field that's as broad as data, there's likely to be lots of different salary. Let's take a look at some...well the data that is regarding data.

Glassdoor suggests that the salary of a data analyst is about $76,000 with "total salary" included. There's plenty of variation, as data analysts earn anywhere from $150,000 to $35,000 based upon experience, qualification, title, and location.

What jobs for Data Analysts are Now Available?

For many firms in many companies, the job of "data analyst" will typically be organized through rank--junior analysts, senior analyst, senior analyst II, and so on. These are especially useful for helping standardize the pay grade for individuals who have specific data analysis experience.

But, there are various other kinds of jobs under the data cover, like:

  • Data scientists are experts in collecting and organizing unstructured data with machine learning as well as other sophisticated techniques
  • Analysts in Business Intelligence are a kind of analyst that focuses on patterns and the key performance indicators (KPIs) which influence business results
  • Qualified analysts, who are especially adept at discovering financial opportunities in the raw data
  • Data analysts on a freelance basisare identical to data analysts. The sole distinction being that they are employed as per-gig or contract basis.

Other jobs, like engineers and marketing analysts, also have their toes in the waters of data analysis.

Remote Data Analyst Job Descriptions

There's both good as well as bad news and they both revolve around this one fact: Working with data often requires hours in front of a computer.

The downside? It may not improve the ol' posture. The good news? It's easy to be a remote data analyst--all you need is an internet connection and an individual willing to pay for your skills in languages like SQL or Python.

Job Openings for Data Analysts at Freelance

Although some companies like to employ internal data analysts who have a better understanding of the business's needs for particular categories of information, there's no reason to work as a freelancer, either.

Smaller businesses might lack the funds for a full-time data analyst but still may need your services. Some companies may augment their staffing of analysts during busy seasons. According to Springboard, many of these freelance data analysts can even make more money freelancing than through full-time work.

What is the difference between the Data Analyst and the Scientist who is a Data Scientist

Simply put, a data scientist can specialize in gathering information, while a data analyst's task is to interpret and organize that data. Don't be shocked to find some jobs where the two jobs overlap, too.

It is good to know certain rules of thumb that you can follow to determine what role each job performs:

  • Data analysts are responsible for interpreting and organizing data that already exists. This is one reason working as freelance analysts for data is common. They can join an organization and deal with already-existing data, using their knowledge to manage that data and turn it into valuable insights.
  • Data Scientists are those who are looking for and search of information. They consider the most effective ways to obtain high-quality, relevant information. Just like a scientist in an lab searches for fresh ideas by designing experiments and gathering outcomes, data scientists at work seek knowledge. It's surprising how much innovative thinking that is out of the box in this field. The key is to explore new ways for data collection, such as machine learning and advanced programming.

The Art (and the Career) of transforming data into Decisions

For those who aren't familiar with the subject, it may sound complicated, mathematical and extremely Left-brained. Anyone who has been involved with data will know that it requires all sorts of expertise to understand the nature from the chaos.

It's not just a set of highly technical skills, like mastering Excel. The ability to think creatively is equally important, such as finding patterns, discovering commonalities and turning dry, rote numbers into valuable business insights.

The data is the most valuable commodity of today's 21st Century. If you're looking to make a living with numbers, it's likely to be worthwhile to learn how to refine it.

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