Data Analysis is the art of collecting and analysing data so that a company or companies can use said data to perfect their marketing, insurance, political and/or business practices. The data analyst is a highly trained professional who performs the analysis, running various mathematical calculations to determine how the data samples might best be applied to profit the business.
Data Analyst Jobs
Is it for you?
If you’ve an excellent eye for details, can identify trends and patterns of information and also have excellent computer skills then you could find your niche as a Data Analyst. In this role you’ll be using your technical expertise to extrapolate data by using advanced computerised models. The job is very technical and heavily influenced by mathematics and advanced algorithms.
You could be at a Data Cleaner, rooting out errors in data or you could be employed on Initial Analysis, whereby you are assessing the quality of your data. As a Main Data Analyst you’ll be looking at the meaning of data, and if you work on Final Analysis you’ll be providing additional screening. Whatever route you choose, you’ll need to gain expertise in your field to analyse the data patterns.
Qualifications and Skills
You’ll need some proficient qualifications such as a BS in Mathematics, Economics, or Computer Science and as you’ll be dealing with computer software and excel spreadsheets, a competent knowledge of computers is an absolute necessity.
You may wish to take an MBA but it’s not necessary and most data analysts often prefer to move on to a specific field soon after beginning work. For example, if you work in politics, banking or insurance, it helps to have a good knowledge of that industry – and enjoy it. Similarly if you’re working in the financial sector a keen knowledge of asset allocation and free cash flow trends will be part of parcel of your work.
IT CV Templates
Opportunities and salaries
There’s a wide field for Data Analysts and you can rise as far as your talent takes you. You could enter the corporate business arena, analysing sales trends or perhaps the insurance and actuarial sectors determining liability and trends. In politics, you’ll be looking at polling data for example. However, in all cases, you’ll need at least 1-2 years experience in a specific field when applying for a job in that field. Experience is king in this profession so you need to be constantly learning and training generally until you know which area you want to go into.
The salary level for data analysts is higher than average at around £45k per annum. Salaries start from £25k rising to more than £80k per annum for Senior Analysts. However, the amount you can earn could rocket according to the value your employer places on you.