What is Data Analytics?
The process of observing, cleansing, transforming, and modeling data with the sole purpose of creating useful chains of information and obtaining conclusions that are worthwhile from them is known as Data Analytics. In short, the person who is in charge of the collection and analysis of data is a data analyst. The job of a data analyst also pertains to the development of analytical models that are based on the data that has been collected and analyzed. The testing of the same also falls under the jurisdiction of a data analyst.
Career options in Data Analytics
Even a decade ago, data analytics was of negligible importance and was far from a lucrative career opportunity. But in today’s age of global digitization, the importance of data analytics has grown more than ever. And the demand for data analysts is increasing with each passing day and an MSc Data Analyticsis virtually invaluable in today’s world.
Let us take a look at some of the career prospects available to someone who holds a degree in MSc data analytics.
- Data Scientist: The primary job of a data scientist entails the collection and analysis of data so that decisions that are relevant to the pertaining data can be made with the aid of data visualization. The basic requirements for becoming a data analyst are – proper knowledge of data analytics, a holistic view of both data and data visualization, and working knowledge of various programming languages like SQL, Scala et al.
- Data Engineer: A data engineer is responsible for the designing, implementation, and proper optimization of the data processes that exist around the data analytic processes that keep an organization running. A data engineer is also responsible for handling large amounts of data. Making this data readable for data scientists is an important part of a data scientist’s job. This is why extensive knowledge of cleansing and profiling data is required for this role.
- Business Analyst: A business analyst is a problem solver that a business employs when they wish to maneuver themselves out of sticky situations. They help in doing so by applying data analytics to gain a perception of the various aspects of the business and then guide them in the correct direction.
- Machine Learning Engineer: The primary job of a machine learning engineer is to analyze and interpret statistical models and algorithms that pertain to machine learning with the help of data analytics.
- Quantitative Analyst: A Quantitative analyst is responsible for helping solve financial issues that require data analytics. With the help of data analytics, they analyze massive amounts of data to procure the correct way forward for a business or an organization.
These are just a few of the opportunities available to someone with a degree in data analytics. But the importance of data analytics is growing with each passing day and more opportunities are coming up for qualified candidates.