By Mr. Anil Somani
In today’s digital age, data stands as a crucial metric, serving as the pillar of an organisation. The data helps organisations understand their customer’s behavior, buying patterns, purchasing power which helps advertise their strategies in a better way and provide an overall improved customer experience. And in the era of job seeking, one job that has stood as a powerhouse in harnessing the potential of data is Big Data Analyst. As organizations are navigating the intricate web of information, Big Data Analytics has become an indispensable tool which is driving innovation and informed decision-making. According to a recent report in G2, 87.8% of companies increased their data investments in 2022, and 9 out of 10 companies have increased their data and analytics investments in 2023.
The Rising Demand for Data Analytics:
According to a recent report by the World Economic Forum, Data analysts and data scientists represent two of the most in-demand, high-paying jobs in today’s constantly evolving world. In today’s evolving world, professionals who understand data and are skilled in big data analytics are in high demand. One of the major reasons behind this is the world is increasingly becoming data-driven and almost every company requires skilled professionals who can review, analyze, and interpret data to enhance business opportunities. Apart from this, companies have started to understand how important data quality is getting each day. A statistical report suggests that by 2029 there will be a 25% growth in the data analyst jobs, giving companies a chance to discover new market opportunities and boost their overall efficiencies.
Emphasizing the ease of starting a career in Data Analytics, Mr. Anil Somani from FOSTIIMA Business School expressed, “In today’s landscape, starting a career in data analytics is very easy. No matter the type of academic and professional background one comes from, if the individual has the relevant skills like having the natural acumen for asking questions and finding solutions then starting a career in data analytics is easy. You may opt or club this course with your regular academics to enhance more job opportunities. You can also sign up for numerous online courses that can help you broaden your skills and get acquainted with tools.”
Wide Range of Options:
A career in big data analytics offers a wide range of options in job designations and domains. An individual deciding to opt for a career in data analytics can choose their path in predictive analysis, prescriptive analysis or descriptive analysis. Additionally, when it comes to different job titles in data analytics and its related domains some of the options one can have are analytics associate, big data engineer, metric and analytics specialist, big data analytics architect and many more.
High Salary Package:
A very lucrative aspect of big data analytics is high salary growth. With the increasing demand for data analytics professionals in the market, one can easily get a good paycheck provided you have the right knowledge and expertise. As per a study by the IT jobs site Robert Half Technology, most big data jobs offer salaries and additional compensations well into the six-figure range that are way above the market pay. According to a Glassdoor study, the starting salary of a data analyst can be more than 6 lakhs along with an average additional cash compensation. In India, the salary of a data analyst can range between ₹ 4.8 Lakhs to ₹ 13.0 Lakhs with an average annual salary of ₹ 6.3 Lakhs.
In short, Big data analytics stands as one of the best career paths in today’s evolving era. The high, rising demand for skilled professionals, the competitive advantage it offers to businesses, the continual technological advancements, lucrative compensation packages, and the potential for social impact make it a field of immense opportunities. So if you feel that making a career in data analytics is perfect and relevant for you then start preparing yourself. Also, remember focusing on the required skills and experience can help give your resume an extra edge.
(The author is Mr. Anil Somani, Chairman, FOSTIIMA Business School- Delhi, and the views expressed in this article are his own)
