What is Data Analyst? | Skills required for Data Analyst? | types and more

What is Data Analytics?

So, The term Analytics means that it merely means to scrutinize something to derive meaningful conclusions from it. Well, data analytics also works similarly it is the process by which useful insights are extracted from raw data by studying and examining it carefully.

These insights can be related to business information, market trends, product innovations, and profit loss report to name a few.

The process of data analytics incorporates collecting data from various sources cleaning it and then finally transforming it into something meaningful, which can be interpreted by humans. This information can be visually presented in graphs and charts that provide precise results of the analysis.

Various technologies tools and frameworks are used in the analysis process, organizations take the help of data analytics to convert the available raw data into meaningful insights. Hence there is a high requirement for professionals who can clear with data and help organizations with crucial decision making.

There are many job roles in the field of data analytics. Out of all the job roles an important role is that of a data analyst, an interesting thing about this job role is that it can be taken up by freshers as well it can embark on your career in the field of data analytics. 

It is a lucrative career as the field of data analytics is only going to continue to blossom in the years to come.

Who exactly a data analyst is?

A data analyst is a person who collects processes and performs analysis on large data sets, here the statistical analysis is done on various data sets, every business generates and collects data be its marketing research, sales figures, customer feedback, logistics, or transportation costs.

A data analyst will take all of this data and figure out various measures such as how to price new materials, reduce transportation costs, provide a better customer experience, or deal with issues that cost the company money.

Data analysts also deal with data handling, data modeling, and data reporting. 

Responsibilities of a Data Analyst

A data analyst is required to recognize and understand the organization's goal, this helps in streamlining and planning the analysis process accordingly. Data analysts assess the available resources, understand the business problem, and gather the right data. 

This step is done by collaborating with different team members such as programmers, business analysts, and data scientists.

Data analysts need to use queries to gather information from a database they write complex sequel queries and scripts to gather and extract information from several databases and data warehouses.

They're responsible for data mining is well here data is mined from various sources and then organized to obtain a piece of new information from it. This is a wider role of a data analyst as they have to extract data from various sources to work on it with this data they can build models it can reduce the complexity and increase the efficiency of the whole system.

Another crucial step in data analysis is data cleaning and data wrangling, usually, the data you can collect is often messy and has a lot of missing values, so it's important to clean this data to make it ready for analysis.

Data analysts use several statistical and analytical tools including programming languages, for performing analysis, and logical examination of data.

Using different libraries and packages data analysts discover trends and patterns from complex datasets this will help them find more unseen insights from the data to make business predictions.

Another important role of a data analyst is to prepare summary reports for the leadership team so that they can make timely decisions, for this data analysts use multiple data visualization tools.

Data analyst in track with the development team business and management team and data scientists to ensure proper implementation of business requirements and figure out opportunities for better process improvement.

Types of Data Analyst 

So, there are generally four types of data analysis are:

  • Descriptive Analysis 

  • Diagnostic Analysis
  • Predictive Analysis

  • Prescriptive Analysis

1. Descriptive Analyst 

A descriptive analysis is an important first step for conducting statistical analyses. It is an approach that provides for a holistic analysis of the data without assuming specific outcomes for each individual and thereby removes the possible bias that would arise by thinking of one individual (the subject) in isolation. 

Descriptive analysis is considered to be a continuous process, and therefore requires a qualified statistical analyst who can deliver descriptive and probabilistic statistical analyses.

2. Diagnostic Analysis 

Diagnostic Analysis is a special type of analytical technique using which you can analyze particular data to find the most accurate diagnosis. The diagnostic analysis is often used for pediatrics and medicine, and also in areas with a high prevalence of the disease. 

The diagnostic analysis uses a combination of laboratory, mathematical and statistical techniques for complex diseases.

3. Predictive Analysis 

Predictive analytics is the branch of advanced analytics which leverages past data and trends in a model to generate more accurate predictions. In other words, the purpose of predictive analytics is to predict future events based on existing and past data.

Predictive analytics is not just making use of historical data to predict the future. It combines the analytical process of historical analysis with the scientific method to become a true predictive analytical tool.

4. Prescriptive Analysis  

Prescriptive analytics is an emerging discipline and represents a more advanced use of analytics and data to create a detailed understanding of what needs to change and how it will impact business operations. It uses information beyond quantitative data to help organizations build a predictive model and issue operational directives that improve service performance and reduce costs.

Prescriptive analytics can be used to identify and guide opportunities to improve consumer experience or predict the impact of changes in industry-wide supply and demand patterns, such as demand fluctuations, on specific geographic regions, or to identify potential failure points of the infrastructure.

Various Skills required for Data Analyst

Degree - You should hold a degree in any relevant field. Be it engineering, computer science, information technology(IT), electrical or mechanical engineering, you can also be a graduate in statistics or economics.

Also, you should have domain knowledge in the field you are currently working in or the role you're applying for.

Knowing Programming Languages - You should have good hands-on experience with programming languages such as R, Python, and JavaScript, this would help you write programs to solve complex problems.

Experience - You should have good experience working with databases and data analysis tools such as writing sequel queries and procedures knowledge of SQL, Microsoft Excel,l IBM SPSS, and MATLAB to analyze trends focus data, and plan to drive accurate insists.

Understanding of statistics and machine learning - You must have a strong understanding of statistics and machine learning algorithms, these include concepts such as hypothesis testing, probability distributions, regression analysis, and various classification and clustering techniques.

And finally, a data analyst should be able to create different reports with the help of charts and graphs using several data visualization tools such as tableau and power bi. they must have good presentation skills as well this will help them convey their ideas to clients and stakeholders better.

Data Analyst Salary

So a data analyst in the United States can earn a minimum salary of$43k  to a maximum of $85k per year.

In India, you can earn anywhere between 198k to 924k per annum.

Companies hiring for Data Analyst Role

The data analyst role is in very high demand with companies looking for professionals who can handle their data effectively and efficiently.

 1. Google

2. Apple

3. Microsoft

4. Amazon

5. Facebook

6. Twitter

7. Paypal

8. Bloomberg

9. Walmart

10. Capital one

So, these are the Companies hiring for the Data Analyst Role.

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