Importance of Data Analysts
Every second, the digital systems in our environment are inundated with more and more data. Whether you're using the internet search bar to look for something new or just leaving your phone or laptop on the table (with the internet turned on), your phone or laptop is continually creating and consuming data. When the amount of data we're referring to is multiplied by the global population count, the total becomes unlimited.
But, in this data-driven society, have you ever wondered what is the ultimate goal of all this data flow, and how can we be more mindful of our actions? This is why data analysts are important as they are the specialists who analyze this data and its possible applications. Read on to learn more about the responsibilities of data analysts and why they play a critical role in the world of data science.
Responsibilities and Skills of Data Analysts
Data analysts are professionals that use data analytics tools to spot trends in international markets and provide competitive analysis.
With more and more companies across the world relying on data to make all sorts of key business decisions, recruiters are scrambling to put together a capable team of data analysts to identify inefficiencies and address business problems.
A professional degree in data analytics will enable you to learn the principles of statistical modeling, predictive analytics, probability theory, data visualization, and risk management, which are all critical for a company's success.
Within the umbrella industry of data analytics, you can work in any of the four areas: descriptive, diagnostic, predictive, or prescriptive.
A typical business day as a data analyst will include (but not limited to) the following tasks:
- Identify organisational objectives
- This entails collaborating with the IT and management teams to correct code faults and data-related issues, as well as designing and maintaining databases and systems.
- Data mining
- By forming diverse patterns within the data using computer algorithms, this approach contributes to the development of new information and the unlocking of various insights.
- Data cleansing
- This is a stage in the data preparation process that allows for the identification, analysis, and correction of raw data in order to standardize it into a single format.
- Data evaluation
- This activity entails looking at new facts that a data collection has to provide, then using logical reasoning and interpretation to answer particular inquiries.
- Analyse patterns and trends
- As a data analyst, you are expected to be proficient at unfolding complicated data sets through correlation techniques, pushing the overall business in the right direction.
- Present reports with clear visualisation
- Studying data analytics in Singapore will enable you to obtain data analysis experience in reporting raw data into translated information, which is necessary for improved online company monitoring and audience engagement.
- Maintain data systems and databases
- This is the most frequent role shared by all data analysts, and it entails the right coherence, storage, and availability of electronic data to satisfy the demands of an organization at any given moment.
Top skills required for a data analyst career
Data analysts are frequently relied upon to utilize technologies and apply applicable abilities to make strategic business decisions in order to make business information more adaptable and scalable across data sets.
Project management techniques: data analysts are expected to have a basic awareness of project management life cycles. The following are some examples of useful data analyst skills:
- Asking the right questions to translate data into real and actionable insights.
- Conducting a preliminary benefit realisation analysis by collecting and interpreting data.
- Monitoring the success, performance, and progress of projects by using key performance indicators (KPIs), videos and dashboards.
- Strategizing next steps on what actions should be taken moving ahead, lessons learned and areas of improvements.
Technical skills: Corporations have begun to recognise the value of data-driven business strategies and are in constant need of talented data analysts who possess a specialised combination of technical data analytical skills, such as:
- Structured query language SQL
- Microsoft Excel
- R or Python statistical programming
- Machine learning
- Data visualisation
If you want to pursue a career as a data analyst, check out the variety of IT online programmes offered at the London School of Business and Finance (LSBF) in Singapore.
The programmes are designed to ensure your transition into a skilled data analytics specialist, all while being closely guided by industry professionals.