What is the Future and Scope of Data Analysts in India

 

  • Introduction
  • Data Analytics relevance in an ever-evolving era
  • Deriving Customers’ or Clients’ Potential
  • Innovative Approach
  • Cost Reduction in Operations
  • Information Accuracy
  • Digital Marketing Strategies
  • What experts believe is the future of Data Analytics
  • Data Analytics Job Profiles
  • Data Analysts Salaries
  • Big names offering high paychecks to Data Analysts
  • Takeaway

 

Introduction

The future of data analysts in India looks bright because every business, whether it is offline or online, needs data analysts to drive their decision-making. 

Also, businesses and organisations that are using the internet and mobile as a channel for sales and marketing have tremendous requirements for data analysts to churn out better insights. So the scope is huge for every data analyst in India.

Demand for employees with specialised data skills is growing every year. More businesses are recognising the importance of capturing, interpreting, and being informed by data. Data-driven insights can not only radically alter a company but also help them target new markets, address customer pain points, boost revenue, and more.

Industry in the research and administration sector can use data science tools to expand their work success. Data science professionals like data scientists, data architects, and data analysts are in high demand in the current job market.

IBM, Amazon, and Microsoft have all mentioned that India is a country with an abundant pool of educated young people qualified for extensive training programs. With the area of data analytics continuing to grow, professionals in other industries are also looking for opportunities to work with data. These include data analysts, business analysts, and more.

It is expected that the Big Data analytics market will grow by more than Rs. 138965.6 crores in India alone, according to industry predictions. This means an increase from the current value of Rs. 40439.7 crores with a CAGR of 27.8% (2019-2025). Given these projections, the demand for data professionals will rapidly increase in the coming years

It is implied that while the COVID-18 pandemic affected all industries, demand for people skilled in data science remained relatively unaffected. In fact, the pandemic has amplified the need for recruiting data analysts.

 

Data Analytics relevance in an ever-evolving era

Data analysis has become the key for any market and is a detailed approach that does not provide an organisation with a biased view of customers’ demands. Predictive analytics can help companies make smart, quick decisions. Data analytics help businesses stay up to date with customer trends in order to best predict behaviours and maintain profitability.

Let’s discuss the importance of data analytics and how it affects our future.

 

Deriving Customers’ or Clients’ Potential

The most important advantage of data analytics is to help an organisation identify its potential customers and what they can do to keep them attracted.

 

Innovative Approach

Data analytics can give you an idea of future trends. Therefore, by updating your approach and adapting to these trends, you’ll find success as well. This is one of the many reasons why data analytics is the future of everything.

 

Cost Reduction in Operations

Data analysis can be a cost-cutting tool for operations and a growth driver in revenue. Data analytics has the potential to drastically change a company’s growth despite its shortcomings. You can choose the types of advertisements that will attract your customers without spending too much.

 

Information Accuracy

To have a distinct representation of the path in their careers, companies should engage in data analysis. This helps them understand their services and how the market responds to them. This gives a clear idea of how to align plans and produce fruitful results.

 

Digital Marketing Strategies

If your overall digital marketing strategy is on point, you won’t have anything to fear about the success of your company. Digital marketers are tasked with building up a brand’s image in the virtual world and if they’re good at their job, then it will surely go far. Digital marketing becomes more valuable when you know how to analyse your data.

 

What experts believe is the future of Data Analytics

Your dream career could sound bleak when you don’t have a realistic view of the future. After taking into account the insights of experts, we see that the field of data analytics is flourishing and how it will continue to grow. 

Data analytics has a bright future ahead, but there are many obstacles to be overcome before everyone using data analytics is successful.

  • Data analytics is the crux of data security for companies in the future.
  • The Internet of Things is a thriving trend in the technology industry. Management, analysis, and security of IoT data continue to be important to the market.
  • Cognitive analytics will experience tremendous growth in the coming days.
  • Data analytics are now reaching new heights as companies’ priorities skew from sound business to what will make them more money.
  • Companies will have an attentive and critical approach to data security and accuracy.

With an increasing number of people relying on mobile devices, there will be greater demand for data analysts who can analyse the data being captured from these devices.

 

Data Analytics Job Profiles

There are many opportunities for people who specialise in data analytics. People often misunderstand the requirements for these jobs to imply that a degree or diploma is all that’s needed, but this is actually not true. However, companies today have changed how they attract and select employees – a person’s skill set is now more important than their degree.

People with strong analytical skills and good math skills stand to make a better living in the data analytics field. This list of careers related to data analytics includes statistical analyst, database administrator, data scientist, and more.

 

Data Analysts Salaries

A Data Analyst’s salary in India is significantly higher than other software-related professionals.

As a data analyst, if you have the required skill set and willingness to upskill in this growing field of work, your career graph will move upwards. The reality is that salaries in India are directly or indirectly dependent on the skills and training of data analysts.

The average pay compensation for a Data Analyst is ₹6,00,000 per year in India.

Source: Indeed

 

Source: Payscale

 

 

Big names offering high paychecks to Data Analysts

As we have discussed above, companies today are aware of data and how crucial it is for business. As such, analysing data has become one of the most important aspects to get a good response from consumers in order to move forward in the market.

Data analytics is relevant for machine learning, simulation, data analysis, market analysis, and more. Here are some of the leading names that data analysts can have a career with – Google, Microsoft, Cartesian Consulting, Axis Bank, ICICI Bank, Kotak, CRISIL, E&Y, Barclays, Accenture, Amazon, MachinePulse, Fractal Analytics, Bank of America, Instagram, Facebook, Snapdeal, Flipkart, etc.

 

Takeaway

When making a career advancement, it’s natural to be uncertain of that decision. But make sure you feel confident in your skills and talent as an analytics professional. As far as data analytics careers are concerned, they can provide security with high-paying salaries.

Data analytics is linked to the present and future in such a way that it cannot be predicted.

We have already mentioned job roles and a few highly acclaimed companies that place data analytics experts. Hence, we have compiled all of the information that can help you to be optimistic and confident about your data analytics future.

The best way to succeed in life is to always try your hardest and never give up.

Tell us about your experience and how you succeeded as a Data Analyst.

 

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