Why is an Analytics Career in 2014 a good opportunity? [DNA : Daily News & Analysis (India)]
(DNA : Daily News & Analysis (India) Via Acquire Media NewsEdge) "It seems we are racing towards a reality where analytics is everywhere. Data is already reinventing the way many businesses function and for us everyday folks, data's long arms are enveloping us at an intriguing rate. Gartner predicts that by 2020, analytics will reach 75 per cent of potential users. They believe we will live in a world where systems of record, systems of differentiation and systems of innovation enable IT, business and individuals to analyze data in a much denser fashion than before.
Well, simply put, if there is going to be more data generated and more companies using this data to make business decisions in more innovative ways, then there just must be an abundance of well trained analytics professionals to take on the data. Not only must universities and training institutes continuously churn out a data savvy workforce but those already in the job market must take the initiative and update skills in the latest analytics tools and technologies, so as to maintain their edge.
The global big data technology market is expected to reach $23.8 billion by 2016 and in India; it is expected to grow 60 times in the next 10 years. There will be more than 35,000 data jobs available in the country this year. Bangalore and Delhi/ NCR are the hubs for analytics companies and naturally have the highest number of analytics companies and analytics jobs.
Such is the big dearth of analytics talent that companies are offering extremely enticing salaries to woo professionals into this sector. According to Jigsaw's 2014 Analytics Salary Report, the average analytics salary in India is 11.1 lakhs per annum. Those professionals who are skilled in SAS, R and Hadoop earn a 10% - 20% premium in salary, averaging about 11.6 lakhs per annum.
Ecommerce companies are the new entrants in the analytics industry. As they build their analytics capabilities they know that without the right analytics talent, their chances of success will be compromised. As such they are willing to offer higher salaries in the range of 11.6 lakhs per annum. BFSIs in general however, offer the highest salaries averaging at 13.7 lakhs per annum.
To make a start in this booming sector, all you need is a general affinity for numbers and some intrinsic qualities like perceptiveness and intuition. What helps is a degree in any of the sciences, statistics or mathematics , some programming expertise and experience with data sets, maybe even some data mining algorithms. One also needs to be business savvy and develop expertise in a combination of analytical tools and technologies, SAS, Hadoop and R being the bare minimum.
Today there are a number of options and opportunities to develop data analytics skills. From MOOCs, to universities, to training academy's, you are sure to find a course that suits you time and budget. What's important though, is to continuously keep in touch with the latest developments in the industry so that you are aware of the skills in demand.
A career in analytics is certainly a good bet with rich prospects and rewarding remunerations. You really to take that step?
Sarita Digumarti, COO and Co-founder, Jigsaw Academy""
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