Data has become one of the premier business tools of the 21st century—in part because of the fact that there are massive tomes of data passing from customer to company every second. Thanks to online shopping and an increasingly global marketplace, the information keeps circulating. Over the past few decades, business leaders in all industries have come to understand and value the field of data analytics (DA) and all that it offers in providing insight into their customers.
If you want to learn more about data science and how the field can help organizations gain insights into their customers' needs and motivations through their collected information, you might consider exploring a Master's degree in data analytics.
What Is Data Analytics?
Also known as data analysis, data analytics uses quantitative and qualitative processes and techniques to boost productivity and gains for all types of businesses in various industries. IT team members or an organization's data analysts extract and categorize information to monitor, identify, and analyze behavioral patterns and how those patterns might benefit the business.
Organizations are increasingly investing in specialized systems and software that integrate automation and machine-learning algorithms to assist their data analysts in more effectively and precisely performing these tasks. The various technologies and techniques employed in data analysis are essential to commercial industries, allowing organizations to make better-informed business decisions. Data scientists and researchers in this field use the scientific method to verify or disprove scientific models, theories, and hypotheses. Each organization uses its own specific techniques, so it helps to learn all that you can as an aspiring data analyst.
Why Is Data Analysis So Valuable?
Data provides insights to companies to better understand customers, enhance their marketing campaigns, personalize their website, facilitate stronger customer communication, and improve profits. Data offers a world of benefits for business leaders, and they need talented data analysts to study, analyze, and describe that in terms of value. Today's businesses cannot access the full spectrum of benefits of the information at their fingertips without data scientists specializing in the study of web or data analytics.
6 Things to Know Before Pursuing a Master’s in Data Analytics
As you explore various technology fields, you might land in the arena of data science and data analytics. Here’s what you need to know about this information-oriented field.
1. Skills in statistics are necessary.
Although data analysts pore over data, they need to dig deeper to gain understanding by enlisting statistics. It is important that you feel comfortable working numbers to use statistical techniques accurately. If you look at raw data and its associated numbers, and you see it all as a mystery or a puzzle to solve, you probably have a strong talent for the field. Finally, if you can tell a story about the mystery you unravel with the numbers and statistics, you definitely want to explore your options in data analytics.
2. Learning to code will help you communicate.
Along with harboring a deep-seated love for numbers, you need to understand how to work with numbers programmatically. A basic grasp of coding lets you to reproduce your work in a programming language to help others to see and build on what you have done. At its core, coding language provides a data-focused shorthand, allowing everyone to communicate effectively and efficiently. Programs commonly used by data scientists include Python, SQL, R, Java, and Bash.
3. You need to focus on the big picture.
Data analysts extract or receive large volumes of data to mine and probe. In this field, you will take that data and analyze it to look for trends and patterns, make behavioral forecasts, and pull meaningful information to help your employer make important and well-informed organizational decisions. You might end up working in finance, healthcare, marketing, retail, government, big tech, or aerospace and aviation.
4. There are bonus skills you should learn.
Considering the breadth and depth of a career in data analysis, it makes sense that the required skills, education, and experience are so precise. In addition to mathematical, statistical, storytelling, and coding skills needed for a career in data analytics, you’ll need proficiency in:
- Microsoft Excel
- Critical Thinking
- Data Visualization
- Machine Learning
5. The career paths for data analysts vary greatly.
As noted above, you might find yourself working in a variety of sectors and industries, but you might want to have a better idea of the available careers and jobs. Here are a few ways you might spend your professional time upon completing a master degree in data analytics:
- Market Research Analyst: A market research analyst examines and assesses consumer buying trends and preferences to help companies determine the best way to shape, advertise, and market their services and products. In this career, you might work as a contractor for a consulting firm or directly for an employer as a part of the marketing team.
- Management Analyst: Sometimes referred to as an efficiency expert or consultant, a management analyst works with a company to determine weaknesses and solve operational issues and improve overall efficiency. By looking at a company's profits, losses, expenditures, sales trends, and more, a management analyst can help businesses improve business performance by creating value and maximizing growth. Data analysts also frequently become database administrators, financial analysts, operations research analysts, and data scientists.
6. The job outlook is strong.
The U.S. Bureau of Labor Statistics (BLS) forecasts that the job market for professionals in computer and information research will grow 15% by 2029, which is much faster than average for all occupations. The field of data is not slowing down, and businesses need talented data scientists to help them stay competitive in today's global marketplace.
If you’re interested in a career in data analytics, earn your master’s degree in data analytics online from JWU Online. For more information, complete the Request Info form, call 855-JWU-1881, or email [email protected].