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BigData

The field of data analytics or data analysis focuses on both quantitative and qualitative processes and techniques. Its goal is to make businesses more profitable by improving productivity.

Data is gathered from various sources, after which it is categorized in an effort to spot and understand trends and patterns. It focuses primarily on the B2C (business-to-customer) application. All over the world, data is collected and analyzed in the B2C field, and then used to understand trends and patterns in consumer behavior. Data analytics is hugely important because it enables specialists and managers to make the proper decisions.Data analytics is often confused with data science, but they are not entirely the same. Data science is an evolution of various disciplines starting to work together and share information. However, as this has grown so much and so rapidly, the field of data science has further evolved, which resulted in the emergence of data analytics. As such, it is a sub-discipline within data science.

Opportunity

The U.S. Bureau of Labor Statistics (BLS) categorizes data analytics specialists as market research analysts, who earned an average annual salary of $62,560 in May 2016. The BLS has also reported that there will be a 19% increase in demand for this specialist from 2014 to 2024, which is around three times the national average. This will translate in 92,300 new positions.

IBM, meanwhile, has reported that Big Data, a key component of data analytics, is only getting bigger. The world generates 2.5 quintillion bytes of data every day. By 2020, this will have added up to 43 trillion gigabytes, or 40 zettabytes. Naturally, the amount of data has no way to go but up.

Career Paths

According to the BLS, the average annual salary for a market research analyst in May 2016 was $62,560. The bottom 10% of earners had an annual salary of $33,950 or less, whereas the top 10% of earners enjoyed a salary of $121,720 or more. The career path these people chose, and particularly the industry in which they work, is of significant influence to these earnings.

See also Salary Outlook Data Analytics Degree

According to the BLS:

  • Management of companies and enterprises employ 8% of market research analysts, earning an average annual salary of $71,570.
  • Finance and insurance employs 10% of market research analysts, earning an average annual salary of $69,730.
  • Manufacturing employs 8% of market research analysts, earning an average annual salary of $69,330.
  • Wholesale trade employs 10% of market research analysts, earning an average annual salary of $60,590.
  • Management, scientific, and technical consulting services employ 10% of market research analysts, earning an average annual salary of 58,640.

Meanwhile, Payscale.com has reported on popular career paths for those in the field of data analytics and their associated salaries. This showed that:

  • Data Analysts earned salaries of between $56,460 and $81,094 per year.
  • Financial Analysts earned an average annual salary of $57,000.
  • Business Insight and Analytics Managers earned an average annual salary of $93,301.
  • Senior Data Analysts earned an average annual salary of $85,000.
  • Project Management Managers earned an average annual salary of $100,000.
  • Data Scientists earned an average annual salary of $67,281.
  • Analytics Managers earned an average annual salary of $104,762.

Salaries

Where people work in the country is also of vital important to how much they can earn. That said, it should be noted that the geographical areas in which salaries are higher, usually also have a higher cost of living. The BLS has reported that the best states to work in, in terms of salary, are:

  • California, with average annual earnings of $80,560
  • Delaware, with average annual earnings of $79,280
  • Washington, with average annual earnings of $79,190
  • Massachusetts, with average annual earnings of $79,030
  • Texas, with average annual earnings of $78,440

The Payscale.com report also looked at the different cities where data analytics specialists work, and their associated salaries. It was found that those working in:

  • New York, New York, earned an average annual salary of $75,000.
  • Seattle, Washington, earned an average annual salary of $69,919.
  • Columbus, Ohio, earned an average annual salary of $86,750.
  • Irvine, California, earned an average annual salary of $87,500.
  • Washington, District of Columbia, earned an average annual salary of $70,000.
  • Boston, Massachusetts, earned an average annual salary of $85,000.
  • Minneapolis, Minnesota, earned an average annual salary of $82,424.

Employers

Aside from the geographical location, the company that they work for is also of importance when looking at possible earnings. Indeed.com has reported on the most popular employers across the country and the corresponding salaries:

  • Microsoft, with an average salary of $92,326 per year.
  • Insight Global, with an average salary of $79,549 per year.
  • Capital One, with an average salary of $90,219 per year.
  • ConocoPhillips, with an average salary of $94,266 per year.
  • Cisco, with an average salary of $69,951 per year.
  • TEKsystems, with an average salary of $69,161 per year.
  • Bank Of America, with an average salary of $79,922 per year.
  • PwC, with an average salary of $56,257 per year.
  • Apex Systems, with an average salary of $83,731 per year.
  • Volt, with an average salary of $80,952 per year.

Curriculum

  • Industry Practicum
  • Databases Retrieval
  • Predictive Analytics
  • Optimization and Heuristics
  • Analytical Consulting Project Leadership
  • Data Mining
  • Introduction to Java & Python Programming
  • Data Visualization
  • Analytics for Big Data
  • Data Warehousing and Workflow Management
  • Capstone Design Project

Certifications

Getting certified is not required in the field of data analytics, but it would be very helpful. A certification would make you stand out among the crowd and can lead to further career advancement. Of course, it is vital to remember that obtaining certification requires a further investment of time and money, and you often have to maintain certification through continuous education credits. Nevertheless, this is a worthy investment, as it opens more career doors. Some certifications that you may want to consider in the field of data analytics are:

  • CCP Data Scientist
  • MCSE: Business Intelligence
  • MongoDB Certified DBA
  • MongoDB Certified Developer
  • Oracle Business Intelligence
  • SAS Certified Data Scientist

Essentially, what potential employers look for is someone who is not just experienced in the field of data analytics studies, but who is also familiar with the various programs used within data analytics. Having Oracle and SAP qualifications, for instance, can ensure that you don’t just understand the data and where it comes from, but also the technical aspects of how it is collected and analyzed from a computer’s perspective.

Associations

Becoming a member of certain professional organizations as soon as you decide to study towards a data analytics degree, is advisable even at the bachelor’s degree level. First of all, professional associations and organizations usually offer scholarships and grants. Secondly, you will always be at the forefront of new developments within your field. This ensures that your skills and knowledge are always up to date. Third, you find it easier to obtain certain certifications and continuous education credits. Finally, you can build a professional network, which would be very helpful for your career as some of these people could provide you with various opportunities that could enhance your career. Some of the organizations to consider are the:

  • Digital Analytics Association
  • Data Science Association
  • World Analytics Association
  • International Institute for Analytics
  • DAMA International

References