What Makes Data Analytics Such a Lucrative Job Industry?

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A report by LinkedIn in late 2019 revealed that data analytics is one of the top ten in-demand skills that employers will be looking for. Post-pandemic, things changed and data analytics became one of the top five fastest-growing IT fields.

Data analytics can be defined as analyzing raw data to identify ongoing trends and make data-driven decisions. These analytics provide a comprehensive look at the pattern of customers and devise strategies that will make customers happy.

The demand for data analysts is at an all-time high because of the recession and the increased demand for quick data delivery.

At Vates, as one of the leading software development firms, we have some of the most talented IT professionals on board who work for companies like Motorola, IBM, and Intel. We can provide you with an innovative and agile environment to explore the world of IT with open access to a variety of cutting-edge technologies.

Read on to learn why data analytics is one of the most lucrative job industries in the world.

What Are Data Analysts Expected to Do?

Here are some of the roles and responsibilities of data analysts.

  • Data processing: this includes importing, transforming, and observing the data quality using analytical tools.
  • Data representation and visualization: arranging data into tables, charts and graphs, and creating relational databases for easy classification.
  • Automating procedures: designing automation processes to enhance the efficiency of data organization.
  • Using analytical procedures: applying analytical and statistical procedures over large unorganized datasets to create meaningful inferences.
  • Preparing reports: creating a report of all external and internal audiences to take a look at business insights.

Why Is Data Analysis So Important?

Data analysis is an important tool that enables businesses to learn about the behavioral changes of the public and strategize accordingly. This allows business owners to prepare for upcoming challenges by gauging customer reactions and devising tailored marketing plans to generate higher revenue.

For organizations to establish a robust reputation, they must follow the narratives on the current trending issues and identify specific topics to form a deeper connection with their audience. Data analysis provides companies the opportunity to comprehensively understand public perception and adapt to changes more rapidly.

Scope in Data Analytics

A person checking finance and sales metrics on a laptop

Since it is the era of content creation, big data analysis is significantly expanding across various fields and industries. In industries like Government Civil Services, retail, real estate, and medicine, everyone is leveraging this emerging technology to handle large datasets more efficiently and properly.

A report reveals that the big data analytics market is expected to grow by 30% and generate a revenue of around $68 billion by the year 2025. Every business owner is on the lookout for cost-effective strategies to optimize business productivity and improve their sales. Data analysis has become a priority for organizations all over the world and is one of the best ways to broaden your skills and earn top dollar in the tech world.

Ready to transform your business with leading-edge technological solutions? Get in touch with Vates today.

At Vates, we provide the most advanced technological solutions and ensure that your company’s IT infrastructure is smooth and bug-free.

We have thirty years of experience in providing high-quality data solutions to elevate businesses to new heights. Our IT professionals can provide a range of services, including agile software development, big data consultation services, custom software development services, Jira service management, IT augmentation services, and more.

Drop us a message today to learn more about our international software development company.

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