Is Data Analytics a Good Career?

Yes, data analytics is a very good career. Simply put, there has never been a more exciting time to work with data. Every day, 2.5 quintillion bytes of data are created, and the rate is only increasing. As organizations' data collecting develops in extent and sophistication, it's unavoidable that they'll want to make use of it, and Data Analysts are at the vanguard of this movement.

High demand for Data Analysts is matched by a rise in pay—even in junior jobs, many Data Analysts' incomes are comfortably above $70,000, with senior and highly specialized roles usually exceeding $100,000.

Besides the high demand and commensurate salary, Data Analysts have the opportunity to work collaboratively and contribute to the decision-making process at the highest level, which can also translate into an opportunity to move into more managerial positions. Many Data Analysts also enjoy the ability to travel and work remotely or relocate easily, even internationally. Whether the nature of the work itself is a good fit depends entirely on the individual, but the salary, perks, and job security are considerable.

Job Prospects for Data Analysts

Data analysts have a bright future because data analytics is in high demand. Before the end of 2020, IBM anticipated that the number of positions for data professionals in the United States would increase by 364,000 (to 2,720,000). Other sources support the trend of corporations investing heavily in big data; according to a recent survey by Dresner Advisory Services, enterprise big data usage increased from 17 percent in 2015 to 59 percent in 2018.

It’s not just tech companies jumping on board, either. There are opportunities to apply data analysis skills across a wide range of industries. The Dresner study found that adoption of big-data analytics was highest in telecommunications (95 percent adoption), insurance (83 percent), and advertising (77 percent), followed by financial services (71 percent), healthcare (64 percent), and technology (58 percent), and was most often applied to research and development (75 percent) and operations (63 percent).

As the adoption of data analytics grows, so does the range of its applications—in fact, entire industries are on the brink of total transformation by big data. A recent McKinsey report forecasted the ways digital analytics will change marketing—with the promise of data-activated, one-to-one marketing interactions—as well as operations and manufacturing. Still more industries have yet to fully tap this potential. Another McKinsey study, for example, found that if the U.S. healthcare industry were to use big data to improve its efficiency and quality, the sector could create more than $300 billion in value, and a large retailer using big data to its fullest potential could increase its operating margin by more than 60 percent. In other words, we don’t expect this growth to slow down anytime soon.

Data Analyst Career Path

The career path for a Data Analyst depends on the industry you’re working in. Someone looking to become a Data Analyst can typically enter the field and qualify for Entry-level Data Analyst jobs straight out of school or a certificate course in statistics, mathematics, or computer science. Some people also transition into data analysis from a related field like business, economics, or even the social sciences, typically by upgrading their skills mid-career through a data analytics course.


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