Data analytics has taken over the traditional techniques of digital surveying. With analytics being used in everything from advertising to presidential campaigns, the importance of data analytics cannot be suppressed in policy making and in deciding the way forward in modern day enterprises. Data analytics is a lot more than its standard definition of gathering and aggregating the current trends to devise factors like the target clientele, market reviews and customer responsiveness to business strategies.
It is all about finding out essential facts and figures about companies and their clientele, their business strategies and the responsiveness to the business strategies to create a comprehensive and accurate list of “hits” and “misses”. It involves the process of extracting the unknown correlations, customer preferences and market trends to be able to come up with future strategies for improved customer experience and greater revenues. The job of a data scientist includes the inevitable task of finding out hidden patterns to aid in devising the further course of action for companies.
Data analytics, today is not just the most emerging career discourse but also the most effective contemporary aid in due diligence and decision making for companies. If the current trends are anything to go by, there are going to be close to 190,000 vacant data science job positions by 2018 across the world with India being a major contributor to the number, owing to its flourishing start-up ecosystem that relies heavily on data interpretation to decide the future course of action and expansion & acquisition strategies.
The Forbes-Glassdoor survey has also predicted that data analysts can comfortably expect rise as meteoric as up to 250 percent in their salaries with the increased application of analytics in standard business processes.
Another heart warming finding from the survey is that the data scientists will enjoy the best work life balance followed by SEO managers and talent acquisition specialists. All said and done, data analytics is the most emerging career discipline in India and across the world with the myriad of challenging and rewarding opportunities that it presents.