A data analyst is an individual who collects, organizes and analyzes data from different sources. They are highly trained and skilled in evaluating and scrutinizing data for companies, firms and other establishments. They use precise mathematical calculations to determine the risk of business decisions. Data analysts are hired by companies to help achieve their business goals, expand their businesses or to enhance their business practices.
The work of data analysts greatly varies according to the company they are working for. Primarily, this job entails gathering and investigation of numerical data . Data analysts use their skills and knowledge in predicting future trends. They analyze information and create detailed reports to be presented to executives. The results of their assessment help support the decision making of the managers. At times, the job description includes designing and implementing database structures. Data analysts may also be required to design and modify reporting systems . Furthermore, data analysts may help in developing solutions for problems such as data management and organizational reporting. Website development and programming are skills that may be needed by some businesses and organizations. Bottom of Form
The job of data analysts is very technical. Any college graduate or those with university degree can aspire to become a data analyst . However, having a degree in BS in Computer Science, Mathematics, Statistics, Economics or Accounting is extremely beneficial in this profession. Although a four-year degree is generally required, individuals with certificate in Data Analysis can be considered. A Master’s degree is not necessary but can be a huge advantage. Data analysts who seek career advancement may also undergo advance training. Knowledge of computers is very important since data management is mostly automated. Data analysts use sophisticated software tools and even the simple excel program. Individuals with strong computer skills can become really good analysts. Individuals with analytic minds and have strong organization and project management skills are perfect for this job.
The salary of data analysts ranges from $80,000 to $110,000 per year. The income greatly depends on the company she/he is working for. If hired by a prestigious company, it is possible to receive a six figure income. A large company would willingly pay a substantial amount to a data analyst who is great at predicting risks and projecting upcoming trends. The need for these professionals is constant since companies or firms always look for ways to expand their businesses. In fact, the average growth of this particular occupation is expected to rise in the next couple of years.
If you think this article is interesting, check out our Business Administration article.
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