What does a data analyst do?
- 27th July 2021
- Innovation and Technology
Every digital system that surrounds us is constantly being bombarded with more and more data every second. Whether you are browsing for something new using the internet search bar or have simply left your gadget on the table (with the internet on) your phone or laptop is constantly generating and consuming data. The quantity of the data we are indicating here becomes infinite when multiplied by the global population count.
But what is the ultimate purpose of all this data transfer and how can we be more aware of our actions in our data-driven era?
Well, as long as we have experts who can analyse this data or potential candidates willing to take the step of learning data analysis, we've got nothing to worry about!
If you are curious to know who data analysts are and what they spend their crucial hours doing, then keep reading this blog to satisfy that curiosity.
Defining the term ‘data analyst’
Professionals who implement data analytics tools to identify trends within the international markets and provide a competitive analysis are generally referred to as data analysts.
With organisations across the world starting to rely on data, to make all types of critical business decisions, more and more recruiters continue their hunt for building an efficient team of data analysts to determine inefficiencies within the company and resolve business problems.
According to IBM, the number of job openings for data professionals within the United States alone has increased by 364,000 to 27,200,00 in the last year!
Individuals holding a good grounding in analytics can offer data-driven insights to managers, executives, and stakeholders in an organisation, allowing them to get in tune with the several internal and external factors that can affect business data outcomes.
Roles and responsibilities of a data analyst
Earning a professional degree in data analytics will allow you to master the concepts of statistical modelling, predictive analytics, probability theory, data visualisation, and risk management, all that is vital for a company to gain popularity among its audience.
You may choose to work in any of the four areas within the umbrella sector of data analytics ꟷ descriptive, diagnostic, predictive, or prescriptive.
No matter the type of job profile you land upon, a typical business day when working as a data analyst will include the following tasks:
Determining organisational goals
This involves working in liaison with the IT and management team to fix coding errors and data associated problems, and design and maintain databases and systems.
This process aids in the generation of new information and unlocking various insights, by formulating different patterns within the data by the implementation of computational algorithms.
This is a stage integrated within the data preparation process, which makes room for identifying, analysing, and correcting raw data to standardise it into a single format.
This task is all about exploring innovative facts that a data set has to offer, moving on to answer specific questions with the help of logical reasoning and interpretation.
Focusing on patterns and trends
As a data analyst, you are expected to be proficient at unfolding complicated data sets through correlation techniques, pushing the overall business in the right direction.
Presenting reports with clear visualisation
Studying data analytics in Singapore will allow you to gain data analysis experience at reporting raw data into translated information, required for better monitoring of online businesses, as well as keeping the audience engaged.
Maintaining data systems and databases
This is the most common task that all data analysts share that involves appropriate coherence, storage and availability of electronic data, to meet an organisation’s needs at any point in time.
Top skills required for a data analyst career
To make business information more flexible and scalable across data sets, data analysts are often called on to leverage tools and use relevant skills to make strategic business decisions.
Let’s dive into a few of them!
Project management techniques
Data analysts are expected to possess a rudimentary understanding of project management life cycles, in order to help a project move from the level of ideations to completion. Some of the relevant data analyst skills include:
- Translating data into real and actionable insights by asking the right questions.
- Collecting and interpreting data to conduct a preliminary benefit realisation analysis.
- Leveraging interpretations to communicate analysis results to the key stakeholders.
- Offering guidance to the organisation and recommendations to the sponsors.
- Using key performance indicators (KPIs), videos and dashboards to monitor the success and progress of a project.
- Strategizing upcoming steps on what actions should be taken moving forward, lessons learned and things that should be done differently next time.
Corporations have started to realise the value of data-driven business strategies and are in constant need of talented data analysts who possess a specialised combination of technical data analytical skills, such as:
- Structured query language SQL
- Microsoft Excel
- R or Python statistical programming
- Machine learning
- Data visualisation
- Critical thinking and presentation
Being a successful leader in the field of data analytics requires you to inspire others to take action, as well as set a course for future success. Some of the leadership skills that the data analysis job calls for include:
- Focusing on self-awareness and personal development.
- Building on the principles of situational leadership theory.
- Encouraging innovation by charting out product road maps and staffing needs.
- Being ethical and civic-minded, for both their teams and customers.
- Practising effective cross-cultural communication, with the stakeholders, co-workers, business units, and the entire company.
How much do data analysts earn?
The benefits of hiring a data analyst come along with the hefty price range companies must pay to employ them, ranging from $10,5000 to $11,7000 per annum.
With all the unique data analyst roles and responsibilities springing up each day, the world is observing an accelerated rate of salary increase, for deserving candidates.
If you intend to become a data analyst, then you must check out the Diploma in Data Analytics and the Higher Diploma in Data Science Analytics courses offered by the London School of Business and Finance Singapore (LSBF SG).
The programmes have a structured learning path that ensures your transformation into an expert data analytics professional, closely guided by leading industry experts.
Apply to the programme now, and let us assist you in following the correct path towards becoming a data analyst!