What They Do
Data analysts study information collected by businesses, including sales figures, logistics or market research, and translate it into plain language so it can be used to inform decisions made by executives. Analysts have a direct impact on pricing products, figuring transportation costs, and other finding ways to lower expenses.
The ability to sort through wide collections of data is most necessary for a career as a data analyst. Their work can impact all levels of a company, so these professionals must be able to connect to clients and managers to ensure that all parties are satisfied with the results. The most common computer programs utilized in this role are Microsoft Access, Microsoft Excel, SharePoint and SQL databases. Familiarity with the use of these tools is critical to career success.
Career Growth
While the availability of jobs in this field will increase in the coming years, it will be at a lower rate than most careers. The Bureau of Labor Statistics estimates a 7% growth, or about 40,000 jobs, in this profession by 2022. Data analysts are valuable to almost every industry, including government, healthcare, research facilities, financial institutions and universities. The use of data and statistics is costly and requires vast amounts of storage; analysts who can perform their jobs and cut down on expenses efficiently are more hirable.
Salary Potential
Data analysts can earn anywhere from $37,719 – $79,182 a year, but they average around $53,000 annually.
The biggest markets for this job and the best salaries are found in northeastern cities like Boston, Washington D.C. and New York. The best location, boasting a 24% higher average pay, is San Francisco, California.
While experience does affect compensation, the most significant factor is an individual’s proficiency in different computer programs and functions. A data analyst should focus their efforts on mastering data mining, data modeling, Statistical Analysis System (SAS) and Microsoft SQL Server. Reportedly, professionals with these skills and aptitudes make 11% – 16% more than their competition.
Education Required
Even for an entry-level position, a degree in computer science could be required. A master’s degree or further certification might be necessary to advance into a more profitable sector. The popular Certified Analytics Professional certification, taken through INFORMS, is a rigorous general analytics program which demonstrates to employers a deeper level of commitment and understanding of the requirements of this job.