Data analytics is a dynamic, globally connected field. Year after year, new technologies are invented and implemented, and the trend will certainly continue in the next decade. Future data science employment will likely increase.
Over the next decade, the Bureau of Labor Statistics anticipates a 31% increase in demand for data scientists.
In this article, we will take you to some of the high-paying data analytics careers that you can opt for. Take a look.
Data analytics career paths for data analysts vary widely from one sector to the next. Entry-level data analyst positions are available to those with a bachelor’s degree or certificate in a related discipline (such as statistics, mathematics, or computer science) or with relevant work experience. Others change careers midway by switching from economics or commerce to data analytics certifications.
The role of a data analyst is a fantastic way to break into the field of data science, and depending on the amount of knowledge necessary, it can be a great first job.
You might pick up skills in every area, allowing you to eventually assume a leadership role and advance to Senior Data Analyst. In order to manage a group of data analysts, a senior data analyst needs to have both extensive and advanced knowledge in the field. Data analysts are in a good position to advance to data scientists or other senior data analytics roles with the right education and experience.
1. IT system analyst
Information technology (IT) systems analysts, sometimes known as technical analysts, focus on the planning, execution, and evaluation of complex IT infrastructures. To troubleshoot technological problems that may arise in your firm, an IT system analyst needs to have a thorough understanding of the hardware and software that make up various devices and machines. The average salary for an IT system analyst is around Rs 8.1 to 16 lakhs a year.
2. Data Analyst
The duties of a data analyst consist of analyzing company and industry data to derive value. Although their names may change, data analysts can be found in every field. Certain jobs, such as “healthcare data analyst,” will have specialized titles. Business analysts, intelligence analysts, and data analysts are all essentially the same thing.
Analysts in the field of data rarely need to have expertise in machine learning, unlike their data science counterparts. Statistical literacy, familiarity with the data analysis methodology, and the capacity for clear data visualization are all prerequisites for most data analyst positions. A data analyst can expect to make even around 39 lakhs a year.
3. Business Intelligence Analyst
The main responsibility of a business intelligence analyst is to find useful information within a company’s data. To be successful in most organizations, BI analysts need experience in data analysis, SQL, and the development of data visualizations and models. Having excellent communication skills is essential, as it is in most data positions. A BI Analyst can expect an average annual income of Rs 3.5 to 22 lakhs a year.
4. Machine Learning Engineer
A machine learning engineer will be tasked with developing software and constructing data pipelines. Your role would also require you to conduct experiments and tests to observe the system in action. Engineers in the field of machine learning should ideally be well-versed in both statistics and computer programming. Candidates with a strong background in ML are highly sought after for these positions within the software engineering industry. Machine learning engineers have promising prospects in the future, both in India and elsewhere throughout the world. There is an average income of Rs 6,91,892 in India for a machine learning engineer.
5. Quantitative Analyst
Another in-demand occupation, particularly in the banking and insurance industries, is that of the quantitative analyst. This analyst employs data analytics to find investing and risk management opportunities. Independently, they might develop trading models to foretell the future of stocks, commodities, currency rates, and more. Many successful analysts in this field go on to create their own companies. The average salary for a quantitative analyst Rs 8-22 lakhs a year.
6. Marketing Analyst
Analysts in this field often have to use tools like Google Analytics and BuzzSumo to compile and examine market data. Not only does this position call for digital marketing expertise, but also data science skills. The need for digital marketing services was bound to increase as more businesses embraced digital strategies. The starting wage for a marketing analyst is between Rs 8-13 lakhs per year.
7. Database Administrator
A database administrator (also referred to as a database manager) would entail checking in on and assessing the effectiveness of the company’s database systems and tools. Experience with Python, Java, MySQL, and MSSQL, as well as a broad understanding of data storage, warehousing, and general structures, are all necessary for this task. A database administrator can easily make around 8-9 lakhs a year.
8. Operations Analyst
Most operations analysts are employed full-time by large corporations, while some also operate as independent consultants. Analysts who work in operations study the inner workings of a company. All aspects of a company’s operations, from internal reporting to product creation and distribution, might fall under this category. Professionals in these positions need not only technical expertise in the systems they support but also a broad understanding of how businesses function. Operations analysts can be found in any industry, from huge supermarkets to mail delivery services and even the military. The average operations analyst’s salary in India is Rs 2.5 to 7.2 lakhs per annum.