What Should You Know About the Data Analytics Industry as a Fresher?
Organisations across all industries deal with a lot of data every day. This data is very important for maintaining business performance and efficacy. Data provides the knowledge that companies use to make key business decisions.
What is Data Analysis? Why is it important?
Data offers valuable insights to businesses such as market trends, customer behaviour etc. This helps businesses to focus on the right tracks. They know where they need to improve, whether to make investment and the areas where they can expand.
With more data available, companies can also predict market losses or profits. A data analyst is someone who knows how to use data, read it and work with it for the best interests of the company.
If you are interested in the world of data, have a liking for numbers and statistics, data analytics could be the career for you as several renowned institutes today offer data analytics courses. To proceed, you can consider a good data analytics certification course.
Who is a data analyst?
Data analysts collect, assort, and process data to understand patterns and behaviour that helps organisations in making better business decisions. Data analysts are, therefore, key to the success and efficient working of every company, big or small. In recent years, there has been an increasing demand for qualified professionals in data analysis.
What qualifications do you need to be a data analyst?
In most instances, students come from backgrounds like statistics, mathematics, data science, economics, and other related subjects to become a data analyst. But these days students are accepted from diverse backgrounds with relevant work experience or skills.
What skills should you have as a data analyst?
- The data analyst should have some basic technical skills such as good knowledge of database languages like Python, or SQL etc.
- The data analyst should know spreadsheets and Google Sheets.
- Understanding of data visualisation softwares like Qlik, Tableau etc.
- Students who are skilled in mathematics and statistics will benefit immensely. These skills are highly desirable for the collection of data, measuring it, organising it, and then studying it to gain understanding.
- The ideal student should have or develop good leadership and communication skills as this field has more collaborative work, and one has to deal with a diverse group of professionals.
Searching for the right data analytics course to kick start your career goals? Check out the excellent courses offered by the Berlin School of Business and Innovation (BSBI) taught by highly trained and experienced experts and professionals. The courses are designed to be industry-relevant and offer more job opportunities at their disposal. Students take lessons on campus and also learn from e-learning forums.
BSBI also offers free German lessons to help international students transition to life in Germany. The institution offers scholarships and financial assistance to the students like flexible payment schemes etc.
BSBI has a dedicated career-assistance platform available for students to assist them in finding work and prepare them to land their dream jobs.
What are the different types of data analytics?
There are four different types of data analytics that you can explore.
- Descriptive analytics: This subdivision examines data on the basis of how it has performed before or till date. It can be considering the website traffic, or the monthly revenue. Descriptive analytical findings help an organisation to spot a pattern or trend.
- Diagnostic analytics: This branch of analytics studies why a certain thing happened or gets to know the cause of an outcome. It’s performed by comparing sets of descriptive data together. Such analysis helps organisations learn about the different outcomes and gain a perspective of the outcomes, whether positive or negative.
- Predictive analytics: Predictive analytics is where datasets are used for predicting outcomes by following a pattern or tendencies. such studies help an organisation into taking effective action, be it reaching out to customers or running more ads, etc.
- Prescriptive analytics: This branch makes an effort into identifying what business actions should be taken by the leaders and stakeholders. Prescriptive analysis helps in the proper recognition of the problems or the potential business hurdles one can face. Such analysis is performed with the help of several advanced technologies like machine learning. Having such knowledge beforehand is nigh going to help organisations stay alert to potential threat, and therefore mostly altogether avoid it.
To learn more about Data Analytics, check out this programme.