A data analyst evaluates, cleans, and organizes the data in one definite place. They work with industries such as business, finance, health care, government, and many others. The fascination with data analysis among students is also rising each day. Moreover, the global data analytics market is expected to generate worth $105 billion by 2027, which projects growth of more than 12% from 2019-2027.
This increase in market cap indicates that data analysis can boom extensively in the future. This article will discuss why data analysis is a good career choice and its importance in the IT industry.
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There is an abundance of reasons and importance for the data analyst career path. Let’s have a look at some of the key elements of why data analysis is essential for every industry:-
1. The expansion of data generation
The very first reason for its importance is the continuous rise of data generation. Every minute, a massive amount of data is generated. This huge proportion of data requires dexterous data analysts who can handle, store, and secure the data in one place. In fact, the production of data is expected to rise even more in the future, making it extremely crucial to hire as many data analysts as possible to handle the increase in volume.
2. Pay is competitive for Data Analysts
Apart from just work, the pay for a data analyst is equally as important. According to the BLS report, the annual salary for a data science position is approximately $103,930, which goes upwards per experience gained. Furthermore, it also depends on the industry you’re working with and your expectations. Along with payroll, they also get secondary benefits such as stock options in reputed organizations.
3. Adoption of big data by enterprises
Almost every organization is well aware of the truckload of data generated every minute. They have also realized the importance of big data and machine learning in their business. For this reason, they are willing to roll out opportunities for data analytics aspirants. According to Statista, the big data market will grow to $642.27 billion by 2028.
4. Increase in demand in the future
As mentioned above, data analytics is continuously growing and will reach maximum heights in the next decade. According to BLS, the global demand for data analysts is expected to grow by 22% through 2030, which is quicker than the average rate. As for India, there would be approximately 97,000 jobs ruled out each year, which indicates a 45% increase in employment in the Indian market. This gap between demand and availability of data analysts is also rising yearly, thereby gathering more attention and momentum towards data analytics.
5. Opportunities to work with elite brands
Lastly, the analysts get to work with some big reputed companies such as Microsoft, IBM, Oracle, and many other industries. It adds additional value to your career and also presents you with different opportunities to deal with. If we divide some other sectors where data analysts are required, then we’ll have
- Banking and Finance: HDFC, JPMorgan Chase, Citi Group, and many more.
- Telecommunications: Bharti Airtel Limited, Reliance, Jio, Vodafone
- Media and Entertainment: NDTV, Netflix, Disney, Buzzfeed
- Retail: Walmart, Amazon, Flipkart, Target, Landmark Group
And many other elite brands where data analysts are required.
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By now, you must have a clear idea of how important big data and analytics have become in today’s world and how the demand is increasing day by day. If you also want to make your career path in data analytics, then we have a perfect programmed course for you. Visit Amity's online website, where you’ll find all the necessary information about data analytics courses, modules, activities, and many more. Visit the website and get yourself enrolled at the earliest.
