The way and manner the data is exploding each day across the globe is unprecedented. Worldwide, we are generating 2.5 quintillion bytes of data in a day. In fact, 90% of the world’s data has been produced in the last two years alone. With the current rate of expansion of data, it would become hard to assess and analyze it for constructive usage, or more specifically, business-usage, given the big dearth of data science professionals, globally.
Why is Big Data Analytics an Apt Career Choice?
#1. Surging Demand for Data Professionals
Tech professionals who possess a vast experience in data analytics are needed in almost every industry you can think of. Each organization, or business entity, wants to exploit the power of data to its maximum advantage, given the cut-throat competition in the global markets.
The number of job openings in the data science domain in Dice & Indeed have spiked up significantly in the last one year. The other job portals are showcasing the similar trends. This is because more number of organizations are realizing the power of data each day. Hence, an acute shortage of skilled data scientists, engineers, and analysts.
#2. Handsome Remunerations
Soaring demand for data science professionals is leading to increase in their compensation and provided perks, thus making them earn big paychecks. If one is skilled enough to take on to the complex data analysis tasks within an organization, he does deserve a fat paycheck. But then, it depends on your skillset and expertise at dealing with huge sets of data.
A survey conducted in the recent past concluded that the median salary of a data analyst has risen upto $130,000 in Australia.
As per Randstad, the annual appraisals provided to the data analytics professionals in India are, on an average, 50% higher than what other IT professionals working in a different business function receive.
#3. Data Analytics Being Considered of Paramount Importance Among Firms
As per the survey conducted by ‘Peer Research – Big Data Analytics’, it was found that data analytics is being considered a top priority across global business entities. The reasons cited for the same by the surveyed employers was that it improves the financial performance of their firm.
Basis the feedback received while conducting the said survey, it came to light that 45% of the organizations believe that big data analytics help them pull out important business insights.
While 38% of the surveyees said that they use data-analysis to identify market and sales opportunities. A little more than 60% of those surveyed, expressed their feelings by saying that they depend on big data to scale up the firm’s social media marketing capabilities.
#4. Firms Are Increasingly Adapting to Data Analytics
With the advent of new and advanced data-structuring and visualization software tools, it has now become easier to analyse the humongously large datasets. As per the Data Warehousing Institute (TDWI) report, more than one-third of the firms at present, are currently using some kind of advanced analytics at their firm. Predictive Analytics, Business Intelligence, and data mining are some of the key business applications of data-analysis.
Pursuing a big data career might be your goal as a budding data science executive, but reaching there requires of you to be patient. Currently, a lot many organizations are not using customer-data to gain insights into their behaviour. Besides, decision-making becomes significantly easier for the higher management, when there is analytics involved.
As per the ‘Analytics Advantage’ survey, 96% of respondents said that in the next three years, data analytics will rise as the biggest catalyst to business growth, and profitability.