You know that businesses thrive on data and analytics and you want to get in on the action. But do you know how to start and advance in an analytics career? Having a strong analytics career is possible and there is no better time than now to start working for it.
Did you know that data analyst in 2022 are in enormous demand for their services? Data analysts in the USA make an average of $67,196 a year. Data analysts with the least experience can expect to make $46,734 annually, and those with more experience may make up to $106,770. Analytics is a competitive field, and here’s some information that can help you with career advancement and personal development. Let’s see what you can start on today!
Analytics Career Tip 1 : Know Your Job and Requirements
In Corporate America, many have heard the mantra; When you know your job, you do your job. Before leveling up in this field, we must start at the entry-level. So what is a data analyst? A data analyst gathers, organizes, and analyzes data statistically. Or, to put it another way, they find ways to make data valuable. Using precise calculations and the appropriate algorithms, they assist others in making the best decisions and order the obtained raw data to facilitate work. They also must have mastery of Python, statistics, and math.
A business analysts will be able to take their analyses and use them to further organizational goals. Many courses can give you the skills you need on the ground level, but if you plan to level up, you need to start thinking about possibly getting your online MBA in one of the areas you like.
Analytics Career Tip 2 : Develop Your Leadership
A popular career path for data analysts is to advance into management positions. Before becoming a senior-level analyst, analytics manager, director of analytics, or even chief data officer, you start at the beginning. Many will start as data analysts and work their way up.
All of the senior-level jobs need someone with impeccable leadership skills. Always keep in mind that leadership goes beyond delegation. It’s a prevalent fallacy that all leaders need to do is assign tasks to subordinates responsibly and systematically. In reality, leadership involves more than just delegating tasks. Simply giving work to folks at the bottom of the corporate food chain and offering assistance when needed is insufficient. A great leader does not watch from the sidelines; they are a player in the game. They go into the conflict, take chances, and admit fault when it’s called for.
How can you start working on your leadership skills? Are you learning from others in books or podcasts? Can you start volunteering to lead projects or teams at work? Identify one way that you can start or keep developing these important skills.
Analytics Career Tip 3 : Find a Niche
Data analysts have a variety of job options and industries to select from. Their professional pathways may take them to the financial and banking sector, the sales and marketing sectors, or even the healthcare sector. Depending on their area of specialization, their job titles also change.
Here are some of the data analyst positions you could investigate:
- Financial analysts manage financial risks, identify business possibilities, and formulate investment strategies using data.
- Industry Research Analysts, also referred to as marketing analysts, analyze market trends to identify target markets, price points, and product and service offerings.
- Healthcare analysts use data from patient surveys, cost reports, and medical records to help doctors improve the quality of care.
Analytics Career Tip 4 : Know What Data Matters
The more specific your research, the better. But you need to understand what you are looking for. Having specificity in data analysis is incredibly insightful. For an operations point of view, consider every single function that makes up an organization. What data can be found to improve effectiveness and efficiency? What gaps can be found?
Data can also be used to motivate stakeholders and elicit support for a cause when appropriately. For instance, data on finance and accounting may be focused on profitability. But it can also be used to show impact and legacy. Marketing may be concerned with shifting consumer preferences. But marketing analytics can also be used to locate your existing customers and leveraging their story with the organization to create deeper connection. Leaders can delve deep into business analytics to uncover the most pertinent data-based insights for each audience.
Analytics Career Tip 5 : Know What’s Trending?
When we say the word trending, we aren’t talking about the top TikTok and Twitter trending topics. Instead, what advances and trends are leading the way in analytics. Staying on top of those trends may predicate when and where you advance within the company.
Each industry opens up new possibilities, and data-related skills are in high demand. New insights and best practices are continually evolving as the sector grows in popularity and technology advances. The data-driven company executives who experience the most significant career progress proactively keep up with new developments. Think about joining a business association. Join a network of data-driven business executives. Take classes like the Business Analytics for Managers MasterTrack® Certificate offered by Tufts University, created by teachers who are recognized leaders in their fields.
Analytics Career Tip 6 : Level-Up Your Education
In such a competitive field as analytics, you must ensure you have the correct tools to move to the next level. Leveling up in your education is one of the essential tools that can make you shine amongst your competitors. An Online MBA concentrating on Analytics would can cost anywhere between $15,000 and $100,000. Now, if the price and time commitment scares you, there are classes on Coursera.com or Edx.com ranging from free to $100 with a shorter time commitment. You can also look for niche classes and try different things out. Our philosophy is the more you know, the more you will grow.
Employees with various talents are of particular benefit and are more likely to be maintained by their employers if they actively participate in training programs. Plus continual education has an effect on employee satisfaction as well. According to studies, 94% of employees will stay with a company that gives them a chance to learn and advance their careers. Check with your manager or HR department to see what kind of assistance you can receive for your education.
Analytics Career Tip 7 : Plan Where You Want to Go
The phrase “career development” is the qualifier we set for ourselves in terms of growth and switching careers. But, let’s think of it this way instead, a cycle of education and development that allows us to achieve our long-term and short-term work goals. Regardless of your career stage, growth and change are inevitable. It’s crucial to have a plan even if you don’t act immediately. Businesses prefer to ask where you see yourself in five years rather than in six because of this.
It can be easier to identify success and growth with a clear objective. If you need help knowing where to begin, try asking your manager or a coworker. They undoubtedly share your goal to succeed because doing so will benefit both of you.
Now is the time to assess your professional career goals and start implementing a plan. Those who fail to plan plan to fail. Where do you want to go? What skills within your toolbox will propel you to that next level? Start looking at the trends within your industry and learn as much as possible about your field. Also, consider the particular position you want to apply for and look into all the degree programs and certifications. If cost is the issue, you might qualify for employee tuition assistance, and of course, loans and grants may be available. Remember, there are options; you must look into what works for you.