What Is Data Analytics: Skill, Job, Salary

One of the professions in the most demand globally is data analysis. As a result, Data Analyst salaries in India are substantially higher than those of other software specialists. Therefore, your data analyst career is expected to advance if you possess the necessary competence and are willing to stay current. This article will help you grasp data analytics' meaning and everything there is to know about data analytics, including the essential skills, job roles, data analytics salary for entry-level to experienced employees, career path, and the importance of the position.

One of the professions in the most demand globally is data analysis. As a result, Data Analyst salaries in India are substantially higher than those of other software specialists. Therefore, your data analyst career is expected to advance if you possess the necessary competence and are willing to stay current.

This article will help you grasp data analytics’ meaning and everything there is to know about data analytics, including the essential skills, job roles, data analytics salary for entry-level to experienced employees, career path, and the importance of the position.

Let’s begin by defining Data Analysts and discussing their organisational function.


Who Exactly Is A Data Analyst?

A data analyst is a smart person who gathers qualitative and quantitative information for business and uses it to help make strategic business decisions. But analysing data is not just adding up numbers or looking at facts. The process must be productive and efficient for the best possible answer to be found.

So, working as a data analyst is done in five steps.

1. Classify – The first thing an analyst does is figure out what problems a company wants to solve. The analyst will put the questions into groups like “what,” “why,” and “how.”

2. Assemble – The next step is to locate the data. Getting data is crucial for answering your queries. For instance, using primary sources like firm data or gathering information from secondary sources like magazines, online news sites, etc.

3. Clean – Like any other data, your collected data must be checked for mistakes. You need to clean up the data you’ve gathered by eliminating any errors, duplicates, or information that doesn’t belong there.

4. Analyse – Breaking down or analysing the data is important before the last step. In this step, an analyst looks at the collected data for trends, data patterns, and variables that are related to each other. This can help the analyst make a good decision.

5. Interpret – The last step is to make sure everything works. It’s the moment when the analyst has to make a decision based on the data they have collected, cleaned, and analysed.

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What Is The Role of A Data Analyst?

The responsibility of a Data Analyst is to collect, store, and interpret data so that it may be transformed into actionable information that can be utilised to improve company processes and make sound business decisions. As a Data Analyst, you must also analyse the significance of business data. After figuring out how to examine the provided data and uncover its hidden insights, you will need to inform the various stakeholders, clients, firm partners, etc., about what you’ve discovered.

Now that you know what is data analytics and what they do for an organisation, let’s move on. Before you learn about the Data analytics salary in India, you’ll find out the different skills you’ll need to work in this field. Interested to begin a career in Data Analytics? Enroll now for Data Analytics Courses in Pune.


Top Reasons to Become a Data Analyst

Here are the top reasons to pursue a career in data analytics:

1. Today, Data Is A Vital Asset

Structured and unstructured data have been seen as useful by many industries and sectors. These groups plan to use big data initiatives if they haven’t done so already. Big Data Analytics is becoming a standard way for businesses to learn about their customers and business in completely new ways.

In a market that is always getting increasingly competitive, it is possible to lose your edge if you don’t have data-driven insights. As data becomes more valuable, people without data analytics skills will have little to no room for growth.

2. A Lot Of Jobs In Data Analytics Are Still Open

There is a significant gap between supply and demand in the market for analytics. More than 1.5 million managers and analysts who can make data-driven decisions will be required. There are now over 32,000 available data analytics jobs in India.

So, what occurs when individuals desire a particular occupation? Workers are paid more, receive more amenities, and have unmatched career opportunities.

3. Data Professionals Earn Some Of The Top Incomes In IT

Data Analyst salaries are, believe it or not, on average higher than IT salaries. In India, these professionals get paid an average of 600,000 per year. Over the years, the salary has gone up by a lot. As the data industry changes, this trend is likely to keep going. This salary trend will stay at the top of the pay scale as long as there are new ways to collect and store data and find more ways to use it.

4. High Possibility For Career Development

Data analysts and other data specialists are in high demand across various industries and businesses. Due to the shortage of data analytics skills, one can quickly ascend the professional ladder or switch to a strategy-related role that requires greater competence.

5. Balance Between Work And Life

In Glassdoor’s study on work-life balance, the data domain came out on top. On a scale of 1 to 5, the data domain scored 4.4. The work environment in the profession is challenging and interesting.

Every project a Data Analyst gets to work on is different. They have to look at all types of information and develop new ways to find useful insights that can be shown in interesting ways.

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Responsibility of the Data Analyst

A Data Analyst’s primary tasks include the following:

  • For organisations, analyse and extract data to uncover patterns, insights, and other relationships.
  • Build and deploy bespoke models to provide answers to inquiries regarding business strategies, performance, and other patterns.
  • Create SQL queries to pull data from the Data Warehouse to solve complicated business problems.
  • Address business issues by mapping and tracing data from several platforms.
  • Using customer-centric algorithms, you may customise specific requirements.
  1. What Tools Do Data Analysts Use?

a. SQL

SQL is one of the most essential tools for analysts and is widely used in large corporations for data analysis. Software architects also use SQL in software development. SQL is a language for writing programs that handle data in relational databases.

b. Microsoft Excel

Excel, the industry standard for data analysis, is the most essential tool for a data analyst to master. Data analysts should be adept in Excel’s functions, from formulas to pivot tables, as it is user-friendly.

c. R

R, an open-source programming language that works on Windows, Mac OS X, and Linux, is also an invaluable resource for data analysts.

d. Tableau

Tableau is a different application that data scientists often use.It is widely employed because it makes speedy data analysis possible. For visualisations, dashboards and tables are also made.

e. SAS

A well-known suite of commercial tools known as SAS, or “Statistical Analysis System,” is used for business data and information analysis. The SAS Institute succeeded in the 1960s, but things have changed. Its primary applications include client analysis, report creation, data mining, and prediction.

f. Microsoft Power BI

Microsoft Power BI is a recently developed tool for data analysis. Only a few years have passed since it started. It began as an extra feature for Excel. It was improved at the beginning of the 2010s to include a full set of tools for analysing business data. Power BI makes it easy for users to create visual reports and dashboards that are engaging and quick. The way it links to data is the best thing about it. As you might assume from a Microsoft tool, it works well with Excel and with text files, SQL servers, and cloud sources such as Google Analytics and Facebook Analytics.


2.  What Are the Qualifications for A Data Analyst?

More than technical proficiency is needed for achievement in data analytics. The perfect applicant will hold a bachelor’s degree in a field that values analytical and statistical skills.When applying for data analyst jobs in the workforce, students who have completed coursework in mathematics, statistics, computer science, or economics often have an advantage over other applicants. On the other hand, if you enrol in a postgraduate programme in data analytics, such as the Data Analytics Bootcamp, you can increase your chances of becoming a successful professional in the industry.

In addition to that, you would require soft data analyst abilities such as:

  • Superior abilities in both oral and written communication and presentation
  • capacity for reflective thought and analysis
  • originality of thought
  • taking a systematic and rational attitude to resolve issues and problems
  • Competence in working in a group

3.  What Are The Issues That Data Analysts Address?

The role of a Data Analyst requires them to be proficient in four distinct forms of data analysis.

  • The type of analysis known as descriptive analysis is founded on historical facts and details the events that took place.
  • Diagnostic analysis refers to analyzing data to determine why something occurred.
  • An example of predictive analysis is analyzing data to determine what will occur in the future by looking at patterns and changes.
  • Prescriptive analysis: determining what has to be done in the future

4.  Why is Data Analysis A Good Choice For A Career?

In the modern business world, data analysis has become an absolute requirement in many different fields, including information technology or electronic commerce and consumer goods, manufacturing, telecommunications, risk management, banking, finance, and consulting. To make accurate decisions from a scientific standpoint, even government organizations are turning to data analysis tools.

Over the past several years, there has been a consistent rise in the demand for data analysts across all industries. According to Ambitionbox’s research, a Data Analyst in India can make anywhere from 1.8 to 11.8 times their yearly pay, with the average salary coming in at 4.3 times their annual salary.

Top recruiters include businesses such as Deloitte, Accenture, EY, Google, Amazon, Fractal Analytics, Twitter, and Facebook; KPMG, Flipkart; JPMorgan Chase; MachinePulse; LinkedIn; AT Kearney; Microsoft; Make My Trip; Walmart Labs; and Citi Bank.

Earning a certification can increase your marketability as a skilled data analysis specialist. The following is a list of the benefits that come along with having a diploma in data analysis:

  • With a certification, you can enhance your present profile and resume. Increasing the likelihood that you will succeed in a data analysis interview
  • Learn the sophisticated analytical methods and procedures necessary for a core data analytics profile, such as mining, cleaning, and processing.
  • Learn how to use some software and tools commonly used in data analysis.

5. Who Can Become A Data Analyst?

In today’s digital age, data is the new currency, and businesses are working to make the most of it with the assistance of experts in data analysis. There is lots of potential for advancement, and you might work in one of the most in-demand fields worldwide. Many people with engineering, science, or business backgrounds are interested in becoming data analysts—some qualified persons who can work as data analysts are given below.

. Recent Graduates

If you recently graduated and want to work as a data analyst. In that case, you can find possibilities quickly if you have the necessary abilities, and taking a certification course can be beneficial.

  • MBA, Finance, and Engineering Grads

Since data is the most important part of making business decisions, MBA, finance, and engineering graduates may be a good fit for the data analyst job.

  • Test Analysts, IT Analysts, and Software Developers

Data analysts with superior expertise are in high demand. As they share many common abilities, such as an understanding of programming languages, tools, and strategies for success in the workplace, software developers are increasingly transitioning into the jobs of data analysts today. Professional certification in data analysis can also provide one an edge over the competition and make them more memorable.

  • Database and System Administrators

Database and system administrators System and database administrators who convert to a data analyst role hope to advance their careers. Since most businesses are moving toward using data to make business choices, they may function within their own organization if they have the necessary abilities.

  • Unseasoned Professionals

If you need more data analysis experience, recruiters can choose to hire you as a junior data analyst or force you to start as an entry-level employee. Therefore, prospects enrol in a certification program to acquire the necessary abilities and advance to a mid- or senior-level role.

  • Professionals with Extensive Experience

With the necessary data analysis experience, it would be simple for you to find employment.  Shiksha Online offers a variety of online courses to aspiring data analysts and business analysts to assist them in advancing their careers, obtaining better jobs, and earning higher salaries.

Q6.  Indian Data Analyst Job Opportunities

People think that India is the leader in the field of big data analytics. Due to the changes, our country is going through, data is piling up around us quickly. Today, most businesses need to hire a big data expert to get useful information from their data. Before you can look into business analytics, you need to have the right business goals, technology, resources, company culture, and commitment from the top. India has a huge amount of potential for data analytics, which will only grow more and more over time.

This industry has many job opportunities across different fields and corporate levels.There are also many well-paid jobs in the area of data analytics. Data analytics is used in many fields in India, such as banks, law enforcement, healthcare, telecom, e-commerce, energy, portfolio management, and fraud protection. All business areas use data analytics. Now, let’s talk about the job prospects and potential of data analytics in India:

  • Manufacturing

After using data analysis to get information, managers of production sites will be able to keep customers happy. By using analytics, manufacturing companies may find new ways to save money. They will deal with hard supply chain problems, staff shortages, and equipment breakdowns.

  • Banking

Predictive modelling is used by businesses in the banking industry to improve client satisfaction and productivity. With these institutions’ adoption of new technologies like blockchain and data analytics, the potential for data analytics in India, and notably in banks, is very bright. Banks and other financial companies use analytics to spot possible risks of failure and client loss. It also makes it easier to spot fraudulent transactions right away.

  • Retail

Huge amounts of data can be used to make predictions to help shop employees better understand what makes customers buy and which awards are most likely to get the desired results. By using data to better understand what customers want and how they buy, retailers can predict trends, suggest new products, and grow their businesses. At every stage of a client’s experience, they improve retail processes and the supply chain.

  • Information & CommunicationTechnology

Data analysis is the main part of the most advanced computer defences. Information technology can use the skills of data scientists. They are also working with cyber security experts to figure out how to fix the business’s problems.


Data Analyst Career Roles

  • Data Analyst
  • Data Scientist
  • Data Engineer


Data Analyst

Data analysts are specialists who translate numbers, statistics, and other information into a language that everyone can understand.

Given the circumstances, there is an ever-increasing demand for Data Analysts in the workforce. This could be an excellent option for those who excel at mathematics, statistics, computer science, and business. This position requires proficiency in languages such as SQL, Python, etc., data mining, gaining the appropriate insights from the data sets, and visualising and reporting these ideas.

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Data Scientist

Data science is just programming that is used to do statistics. Along with R, Python has shown that it can sort data according to general and specific needs. In India, Python programmers who work in data science make more money than software developers and DevOps programmers. This is because it is becoming more common for companies to collect, clean, and process data. After all, they need it to learn about their customers and the market.

You need a special Python programmer who can use libraries like NumPy and Pandas to gather and process data. Data scientists are in high demand in big cities like Delhi-NCR and Mumbai, as well as in growing cities like Pune and Bangalore.


Data Engineer

The primary responsibility of a Data Engineer is to design and construct a dependable infrastructure for transforming data into formats that Data Scientists can use. Data Engineers must do more than simply build scalable pipelines to convert semi-structured and unstructured data into usable formats. They must also identify meaningful trends in massive datasets. Data Engineers’ primary responsibility is cleaning and organising unstructured data for improved analysis or operations. The majority of data engineer myths are extremely far from the truth.

The job of a Data Engineer is just as important to a company as a Data scientist. Data Engineers don’t get a lot of attention because they don’t have a direct link to what the analysis will lead to.

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Data Analytics Skills

You must possess all the necessary information and abilities to succeed as a data analyst. The competence you must develop to enter this profession is discussed in more detail in this blog.

  • Expertise With Data Analytics

To get into any field, you need to know a lot about it. Data analytics is the same way. You need to know a lot about business and be able to make business decisions, among other things. To become a Data Analyst, you need to know a lot about business and how it works. This is the most important skill you need.

  • Math And Statistics Skills

A solid understanding of mathematics and statistics is required. This will assist you in drawing objective and reasonable conclusions regarding crucial business matters. This skill will also aid you in developing solutions for a variety of business problems. To generate predictions based on historical company data, you must be able to extract pertinent data and recognise trends. In addition, you must employ a variety of prediction and clustering algorithms, classification techniques, etc., which will be of great assistance.

  • Technical Expertise

You must have the right technical skills and be good at languages like Python, R, SQL, etc. You must comprehend datasets and use the right techniques to get information from them. It’s not enough to know math concepts and techniques.

  • Other Specialties

One of the most important skills you need is talking to people. You must be able to explain your ideas to the right people in the organisation in a clear and effective way. Also, you need to know how to present your findings using tools like QlikView, Tableau, etc., in the best way possible.

You’ve read enough about a Data Analyst’s duties, responsibilities, and qualifications. What is the data analytics salary in India? This is the most crucial question you want to know; therefore, let’s address it immediately.

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Factors Influencing The Pay of An Indian Data Analyst

The basic pay of a data analyst in India varies by location. Before deciding and negotiating salary, certain aspects are examined. While recruiting Data Analysts, the below are some of the most significant factors that are considered:


Based on Experience

One of the most important things that go into figuring out the salary is how much experience the person has. Experience in a field makes it easier to develop practical solutions, gain knowledge, work quickly, and be a better leader.

A Data Analyst who has worked in the field for more than three years will get paid more than someone just starting.

PayScale says that the following is the typical pay structure for Data Analysts based on their experience:

Entry Level (less than one year of experience): 3,56,363 annually

Early Profession (1–4 years of experience): 5,200,000 per year

Mid-career (5–9 years of expertise): 8,500,000 per year

Experienced (more than ten years of experience): 9,94,031 to 14,00,000 per year

Depending On Skills

If Data Analyst doesn’t have enough experience to get a high-paying job, they can still negotiate their pay based on their skills. So, getting more skills is much more important than just getting a degree if you want a good job.

Some skills that can directly affect a Data Analyst’s salary are:

Depending On Location

Location is another thing that directly affects how much you get paid. It mostly comes down to how much it costs to live in a city or state and how much the job pays. A new Data Analyst in Mumbai might make the same as someone with 3–4 years of experience in Kolkata.

Let’s look at how much a Data Analyst makes in different places.

Bengaluru:

A Data Analyst in Bengaluru makes an average of 6,00,000 per year.

New Delhi:

In New Delhi, a Data Analyst makes an average of 5,87,500 per year.

Mumbai:

In Mumbai, a Data Analyst makes an average of 5,44,938 per year.

Chennai:

In Chennai, a Data analyst makes an average of 6,16,779 per year.

Depending on Industry

When hiring a Data Analyst, companies and employers in other fields have different needs. So, the salary depends on where the company stands in the market, the role, and the needed skills.

Here are the best places in India to work as a Data Analyst:

  • Capgemini (IT)
  • Flipkart (E-commerce)
  • Cognizant (IT)
  • Infosys (IT)
  • LatentView Analytics (Data and analytics)
  • Novartis (Pharma)
  • Tata Consultancy Services (IT)
  • Accenture (IT)
  • Tech Mahindra (IT)
  • Genpact (Professional services)

Based on the company, the average base salary for a Fresher Data Analyst in India is:

The Salary For Data Analytics In India

Data Analyst is one of the most popular careers and one of the highest-paying jobs in the IT field. Companies make a lot of data daily, so these professionals have many job options.

PayScale says that an average Data Analyst in India makes 4,64,928 per year. But, as was stated above, the salary can change for several reasons.

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Future Prospects for A Data Analyst

Companies have to make sure their data doesn’t go out of date. This requires always being up to date, being aware of and understanding a lot of data. Professionals skilled in advanced analytics are very important when a company needs to change its business models to stay ahead of the competition.

India has many data analytics areas, such as banking, law enforcement, healthcare, e-commerce, energy, telecommunications, fraud detection, and risk management.

There are a lot of jobs for Data Analysts at places like JPMorgan Chase, Microsoft, Ernst & Young, Wipro, Adobe, Accenture, Flipkart, AIG, Vodafone, and Deloitte.


The Bottom Line

In this blog post about data analytics salary, you’ve learned a lot about what a Data Analyst is, what they do for an organisation, how much they can make depending on several factors, and so on. If you want to work in this industry and earn a high salary as a Data Analyst, immediately enroll in the 3RI Technologies online course for Data Analysts. With the help of this course, you can learn everything from scratch and quickly advance to an expert level.

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