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Data Analyst Job Overview

Job Responsibilities

         IT Analysts are involved in collection and interpretation of data to help in decision making in whatever department/ company they are working in.

        They collect these data and apply mathematical modelling and other optimizing methods to identify insights, opportunities and trends

        Then, they have to compile reports on trends, opportunities and possible dangers to business and assist top management in taking crucial decisions.

        Usually they are not involved in coding but work on many data crunching software. Thus, In Simple terms, they Utilize IT data and convert them to business insights.

      Then, they play an active role in assisting in the enforcement of project deadlines and schedules, communicating effectively with personnel and applying project standards.

Day to Day Tasks

           Typically, day to day tasks of Software Engineer involves four phases:

  1. Producing Reports
  2. Spotting Patterns
  3. Collaborating with others
  4. Collecting data and setting infrastructure

        Let us Deep dive in each phase:

  1. Producing Reports stage:
  • On a daily basis, data analysts spend a significant amount of time producing and maintaining both internal and client-facing reports.
  • These reports give management insights about new trends on the horizon as well as areas the company may need to improve upon.
  • To remain valuable, the reports, answers and insights that data analysis provides have to be understood by the next decision-maker, who is not an analyst but a manager.

         2. Spotting Patterns

  • In order to produce a meaningful report, a data analyst first has to be able to see important patterns in the data.

  • At the base level, data is used to find trends and insights that we can use to make recommendations to our clients.

  • Reporting in regular increments, such as weekly, monthly or quarterly, is important since it helps an analyst notice significant patterns. 

        3. Collaborating with Others

  • The wide variety of data analyst roles and responsibilities means that one has to collaborate across many other departments in your organization including marketers, executives and salespeople.

  • They are also likely collaborate closely with those who work in data science like data architects and database developers.

  • Hence it is vital to be able to communicate well as a data analyst. 

Preferred Degree

      To identify the preferred degree for this job profile, a survey was conducted with 114 respondents along with secondary research on popular job portals like Linkedin, Naukri.com, Indeed.com, etc. The graph below helps us understand the educational qualifications of current workforce in this profile.

(*Above data obtained from Payscale.com and also verified by survey results)

          It was identified that about 28.5% of employees currently working in the profile of Business Analyst have an MBA in either Finance, General Management, Analytics or IT. About 22.3% of them are either CAs or have a CFA certification. Thus, more than 50% of current workforce is either an MBA or CA, CFA.

       About 21.1%  of BAs have a Bachelors in Engineering with Majors in IT, EXTC or Computers. The remaining approx 25% candidates have a Graduate degree in Commerce only.

         

Important Subjects & Academic Courses

Business Management & Strategy

Cost Accounting

Corporate Finance

Micro & Macro-Economics

Data and Visual Analytics

Corporate Governance

Advance Computer Science and Data Structures

Deep Learning and AI

Marketing and Branding

Strong growth in Salaries due rising Demand

Exposure of Technology as well as Business Side provided.

The Skills of a BA are applicable across all the industries, thus Industry agnostic profile.

Wide Sets of Skills needed due to techno-functional role.

High pressure job due to deadlines. Involves dependency on other teams leading to delay in work.

Long Hours of work leading to stress and health hazards

Job Demographics

        Analysis on demographics of workforce working in this profile indicates that about 25.9% of employees working as a Business Analyst choose this profile during their Early Career (i.e Within 0-4 Years of Job Experience)

       About 33% of the employees working in this profile join this profile during Mid Career (i.e Between 4-7 Year of Job Experience). Experienced Individuals with an experience between 7-10 Years in an Industry contribute to 29.3% of workforce for this profile. Thus, this profile is suitable for recruits during an “Late Mid Phase” in career hierarchy.

(*Above data obtained from Payscale.com and also verified by survey results)

      The Gender breakdown in this profile in India is 78.5% Male vs. 21.5% Females. However, over the past 3 years the percentage of Females getting recruited in this job profile in on a steady rise. 

Salary Details

Information on average Total Salary, variable Salaries, Bonuses, Growth in the packages during Career hierarchy and much more for a Data Analyst!

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Upgrade Skills

List of Best Online Free Courses, Youtube Channels, Content Blogs along with best Certifications to upgrade the skills for a Data Analyst!

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