by Phillip Durand
All industries require data. Thus, regardless of the industry in question, Data Science is a golden ticket for your dynamic entry. Data Analysts are in high demand in these times, with salaries starting from $70,000 a year in the USA. Data Analytics can be studied online easily with high potential in the field. Regardless of your career path, Data Analytics helps widen your skill set and that paycheck amount!
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Advantages of Data Analytics
Listed below are some of the benefits of learning Data Analytics.
- Data Analytics in High Demand
Data is one of the most important tool for any company, but it will be useless if there is no one to analyze it accordingly. Hence, the demand and job opportunities in data analytics and management have been on a rise with companies even willing to invest on training.
- Good Pay
The increasing demand has resulted in increased salaries for qualified data analysts as well. As of 2015, data scientists earned an average salary of $130,000 on an annual basis. The trend has since then seen an exponential growth in the compensation.
Why Learn Data Analytics?
There are many reasons to study data analytics, some of these are as follows”
- Job opportunities in multiple industries
As of now, almost all companies in every industry are heavily dependent on data in order to take the next step in the right direction. Consequently, data analysts have a good amount of job security which is not limited to just one industry or field. Although, some industries do require a higher skill and education in terms of expertise in data analytics, such as business intelligence, finance, sales, and quality assurance.
- Data is changing the world
There is more than enough proof of how data analytics has become an essential when it comes to making progress. Various sectors of the economy have highlighted potential that can be reached through data analytics.
One example is how some NGOs make use of artificial intelligence to facilitate some of their work, such as collecting funds. They then analyze the collected data to forecast and target actions that align with the wishes and requirements of their donors.
Another great example is of how data analytics has played a vital role in sports is of the German national football team. The team makes use of data analytics to structure and formulate their game plan. This resulted in the team having a competitive edge over the rest of the opponents in the 2014 FIFA World Cup, as they had used analytic software to research about how the other teams perform and strategize. The information was then processed further and conveyed to all team players through a mobile application.
- Exceptional problem solving skills
Even though the problems are on a large scale, data analytics teaches you the skills to deal with problem solving efficiently. It is a valuable skill to be able to process and create effective conclusions just from raw data alone. Problem solving skills are useful not only in work-life but also in our daily lives.
- Opens doors for freelancing
Data analysts can also choose to be consultants for companies all over the world. All you need is internet access, with that being available, you can work from anywhere for people in multiple different areas.
- Assists in decision making
As data analytics provides with useful resources to be used by the company, it is a vital factor when it comes to making important decisions. Data analysts have a respectable role in any company as they provide valuable insights when it comes to future strategies and growth planning.
Places to Learn Data Analytics
There are several colleges and universities in the USA that offer to teach data analytics. The master’s degree program, however, is more popular than Ph.D. and undergraduate programs. Only a few colleges offer data science at an undergraduate level. Some of them are;
- Columbia University
The educational institute offers Bachelor’s and Master’s degree in Data Science. The course spanning to 4 years’ costs $244,260 approximately.
- MIT
The college gives the options of a BSc in Data Science, Statistics, Pre Master in Data Science, and a Master’s in Data Science. It is a 4-year course as well which costs around $219,328.
To Sum it Up
The point of this article is not that data analytics is the only way forward towards the future. But, considering how things have been going in its favor, it does seem the right way as of now. Data science has been inculcated by all industries in one way or another to their advantage. Such a boom has made possessing data analytics skills a necessity in today’s time.
