What Is Data Analytics & How It Can Help Your Career?

Edvancer Edventures 07/10/2022

Almost every activity is producing huge amounts of data in today’s digitally connected world. Much of this data is lying in large storage centers either as legacy data or has already been lost to time.

With advanced data analytics, businesses, governments, pharmaceuticals, space agencies and explorers are recognizing the importance of understanding the vast amount of seemingly unrelated data.

Data has evolved into a critical metric for determining an organization’s performance. It helps companies better understand their clients, create more effective marketing plans, and give consumers a better overall experience.

In the simplest sense, data analytics refers to the analysis of raw data to discover trends and draw conclusions about those trends. Such findings help streamline procedures to increase a business’s or an organization’s efficiency.

As a result, almost every business is looking to hire data analysts to keep up with the massive amount of data generated every second and extract useful information from it. Data analytics courses are one of the best ways to enter this lucrative and rapidly expanding profession. India is already one of the top exporters of data analytics services in the world.

Useful Applications of Data Analytics

1. Better Decision Making: Data Analytics removes uncertainty and manual labor. Whether it’s choosing the right content, organizing marketing campaigns, or developing new products.

2. Improved Customer Care: Using data analytics, you may customize customer service to meet their demands. It also provides customization and strengthens client relationships.

3. Effective Operations: Data analytics can help you streamline your procedures, save costs, and increase output. You may save time producing ads and materials that do not appeal to your target audience if you have a better understanding of what they want.

4. Effective Marketing: Data analytics provides you with useful information on the effectiveness of your efforts. This helps them to be perfected for optimal outcomes.

Why is Data Analysis Helpful?

The huge amounts of unstructured data that have been gathered for the sole goal of organizational growth are translated, measured, and insightfully captured by data analysts. Through precise forecasting models, this data can be used for increased sales, product creation, better operations, and risk reduction.

The most critical element for any organization nowadays is data analytics. They can maximize revenues by gathering information on market trends and making data-driven judgments.

Why Should You Pursue a Career in Data Analytics?

The easiest and perhaps the fastest way of starting your data analytics career is through the data analytics courses. Edvancer Eduventures offers Advanced Certificate course in Data Analytics in affiliation with IIT Kanpur.

Some of the most compelling reasons to pursue a career in data analytics are as follows:

1. All organizations place a high value on data analytics

Small and large businesses alike are transforming into virtual platforms. As a result, big data adoption is the enterprise’s top priority, generating opportunities in telecommunications, banking and insurance, healthcare, and other sectors. Improved marketing, B2B market interactions, and synchronized operations and manufacturing have all resulted from the transformation.

2. The scarcity of people with the necessary skill set

While the market for data analytics job profiles is expanding, there is a significant gap between the number of skilled professionals and existing data analysts.

3. There are numerous job opportunities in various sectors

The big data analytics framework encompasses broader domains and offers technical and non-technical Business analyst profiles to foster organizational development.

4. Combine Analytical Skills with Managerial Acumen

Students who possess the ideal combination of administrative and analytical abilities can succeed in the field of data analytics. The industry is viewed as a highly lucrative employment option with a wide range of job opportunities and high pay scales. The industry norms pay data scientists and analysts high salaries due to their in-demand skill sets.

5. Diverse Range of Career Options

Among many other positions, job seekers can look for work as a data analyst, data architect, statistician, project manager, chief data officer, or ML engineer. You can choose a degree and a variety of specialisations based on your interests.

Forensic data analysts, for instance, assist in recovering and safeguarding digital evidence related to criminal and cybercrime investigations. Another specialised area is data mining, where experts examine data to identify patterns and trends.

The Process of Data Analytics

Recognize the Issue

The first phase in the analytics process is to recognize the business challenges, specify the corporate goals, and create a profitable solution. E-commerce businesses frequently struggle with problems including anticipating product returns, providing pertinent product recommendations, cancelling orders, spotting fraud, maximising truck routing, etc.

Data Gathering

You should next gather transactional business data and customer-related information from the last few years. The data can be structured like form entries or unstructured like social comments.

Data Cleaning

At this point, most of the data you gather will be disorganised, disorganised, and contain undesired missing values. Therefore, you must clean the data to remove unnecessary, redundant, and missing information.

Data Exploration and Analysis

Exploratory data analysis is the next crucial step after collecting the appropriate data. To evaluate, display, and forecast future effects from this data, employ business intelligence tools, data mining techniques, and predictive modelling. By using these techniques, you may determine the influence and connection between a specific characteristic and other variables.

Future is With Data

Data is predicted to be the driving force behind corporate disruption across all industries. So, it makes sense to say that careers in data science and analytics are looking promising. The need for Data Analytics is rising dramatically as businesses depend more and more on AI, ML, and Big Data. People who are interested in working with statistics and insights might think about enrolling in PGDM courses in this area as it can be rewarding.

FAQ Section :

Will I be watching videos or is it a live course?

We provide both pre-recorded videos and live sessions for all our courses. Both modes are faculty assisted and you can receive it from the comfort of your home with a degree of interaction comparable to classroom instruction.

What do I need to do to unlock my Data analytics certificate?

As soon as you complete all the modules, complete all the tests successfully, and have your assignments reviewed, you can receive your certification.

Does business analytics require coding?

To work as an analytics expert, you don’t necessarily need to write code, though having programming skills is advantageous. In addition to the languages mentioned above, statistical programs like SPSS, SAS, Sage, Mathematica, and even Excel can be used to manage and analyse data.