what is a data analyst?
As a data analyst, you are responsible for organizing, collecting, and interpreting statistical information. You then make that information available for different businesses and organizations.
scrutinise information
You use data analysis tools to scrutinize large amounts of information. Your goal is to pull meaningful results from raw data. You then present that data to your employer or client in a way that allows them to make important decisions. The information you present should make facts, trends, and forecasts clear.
a meticulous task
Working as a data analyst is a meticulous task. To help you do your job well, you use advanced computerized models to extract the needed data. You are responsible for identifying and removing corrupted data. You use the quality data as the basis of your initial analysis. Once the initial analysis is complete, you perform secondary and tertiary analyses to determine the meaning of the data. During your final analysis, you do additional data screening and then prepare reports based on that analysis that can be presented to oversight.
who hires data analysts?
Data analysts work in a variety of fields and environments. Manufacturers, social media specialists, and banks rely on data analysts to help them make decisions. Public-sector organizations, the medical field, and telecommunications are other sectors that could not operate without data analysts.
data analyst jobsaverage salary of a data analyst
In Australia, data analysts earn between $80,000 and $140,000 annually. On average, they earn $100,000. This high earning potential is because of the demand for data analyst skills in multiple job industries. Many organisations consistently evaluate their current employees to find those who have strong data analytics skills who could take on these roles.
factors that affect data analyst salaries
Your salary as a data analyst will vary based on the state where you work. When planning your future as a data analyst, you may think that location is a minor concern. However, when you look at the statistics, you see that location impacts salary and growth opportunities.
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locations with the highest data analyst salaries
Sydney has the highest annual adjusted gross income for data analysts at $100,000. Melbourne comes in second at a little over $95,000, and Brisbane rounds out the top five with a little over $92,000 a year in annual adjusted gross income for data analysts.
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locations with the lowest data analyst salaries
Canberra and Perth both offer salaries for data analysts around $90,000, about 10% lower than Sydney.
types of data analysts
There are four types of data analysts that are used in a variety of industries. While data analysts can be separate in the category, they typically work together and build on each other’s work. The complexity of the data affects the degree of difficulty of the analyst’s work and the resources you will need.
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descriptive analysts
This is the most common use of data in business today. As a descriptive analyst, you answer the question of what happened. You summarize data and use that information to determine key performance indicators (KPIs) and other business benchmarks.
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diagnostic analysts
As a diagnostic analyst, your goal is to find out why something happened. You garner insights from descriptive analytics and then drill down to identify the ‘why’ behind the outcome.
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predictive analysts
As a predictive analyst, your job is trying to determine "what will probably happen." You use previous data to try to predict future outcomes accurately.
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prescriptive analysts
This is the cutting edge of data analysis. With this job, you are tasked with taking all of the insight garnered from the previously mentioned analysis to determine a course of action to address a current or future problem.
Prescriptive analysis requires state-of-the-art technology and best data practices.
working as a data analyst
Take a look at some of the duties and responsibilities of data analysts and learn about your work environment, work schedule, and job outlook.
duties & responsibilities
Organizations rely on data analysts to make mission-critical decisions. This includes what markets to enter, what products to develop, and what investments to make. As a data analyst, the data you provide will help your employer identify inefficiencies in their business and other problems that need to be addressed.
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make things quantifiable
As a data analyst, your responsibility is to make things quantifiable by assigning numerical values to key business functions. The work you do allows your employer to assess performance over a predefined time. It is more than just looking at numbers; you need to understand how to use the data you are evaluating to help your organization make informed decisions.
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combining theory and practice
Data analysts maintain and design databases and data systems. You mine data from primary and secondary sources. Then, you are tasked with reorganizing that data in a format that is easily digestible by humans or machines. To accomplish this task, you use statistical tools that allow you to interpret data sets. You are tasked with paying close attention to patterns and trends that could be used for predictive and diagnostic analysis efforts.
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preparing reports
As a data analyst, you need to show the significance of your work in a local, national, and international context. You prepare reports for executive leadership. These reports should communicate patterns, trends, and predictions using relative data. Along with reports, you provide documentation that lets stakeholders understand the data and the steps used in the data analysis. This way, they can duplicate your findings if necessary.
work environment
As a data analyst, you work in a variety of environments. These include large corporate environments and small to medium-size businesses. Remote work is possible for analysts if you are disciplined and able to produce quality work in a less-structured environment.
work schedule
The work schedule of data analysts varies. Most data analysts work full-time, which is a minimum of 40 hours a week. At times, projects will require you to work over the weekend or at odd hours.
how time is spent
Most data analysts find themselves spending between 15 and 20 hours a week actually doing analysis. This includes working on modelling analysis and generating reports. The rest of your time may be spent waiting for people to communicate with you, waiting on databases to provide you with the needed information, or attending business meetings. You spend some evenings responding to inquiries, sending emails, and wrapping up projects.
job outlook
Data analyst jobs are expected to grow exponentially between now and 2025. It’s reported that jobs in this area will increase by 25%+ as the technology sector expands.
reasons for the growth
This growth is because businesses across Australia rely on insightful big data analysts to provide actionable insights. If you have a degree in data analytics, you are attractive to employers across different industries, ranging from finance to government to the tech industry.
education & qualifications
If you want an entry-level data analyst job, you will need a bachelor’s degree. It is possible to develop data analyst skills and get a job without a degree. However, getting a degree puts you in a position to build the skills and network needed to grow in the field. There are more job opportunities for candidates who have a data analyst degree than those who do not.
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data science degree
More schools are offering a bachelor’s degree in data science. Getting a degree in this field equips you to understand mathematics, computer science, and statistics. Some degrees allow you to specialize in healthcare, finance, or economics.
A data science degree is a possible alternative for data analysts.
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computer science
Computer science programs can be a good fit for data analysts. The emphasis on analytical and statistical skills makes those with a computer science degree attractive to employers looking for data analysts.
Depending on the program, your studies may include algorithm design, concepts of artificial intelligence, and programming languages that can be used in the future.
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applied statistics or mathematics
As opposed to traditional mathematics degrees, applied statistics or mathematics focus on real-world applications. These include helping businesses make data-driven decisions. Some curriculums include skills valuable to data analysts, like statistical software and programming languages.
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finance/economics
A degree in economics or finance is beneficial if you are looking to work as a business or financial data analyst. Many of these degrees include coursework on analysis and statistics. Many focus on business analytics.
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management information systems (MIS)
This degree allows you to look behind the curtain and see how databases work. This can benefit data analysts because coursework includes database management, database design, and business theory. Certain programs allow you to specialize in data analytics, data management, or business management.
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master’s in business analytics
Most entry-level positions require a bachelor’s degree. Some companies look for employees with their master's degrees in data analytics or a related field. In general, the higher your degree, the higher your salary.
skills & competencies
You need various skills to work as a data analyst. The following covers some of the competencies you must have in this profession.
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SQL
Structured Query Language (SQL) is a universally used industry-standard language for databases. Some see SQL as a graduated version of Excel. This is because SQL can handle database information that Excel cannot handle.
Most organizations require at least one person who knows SQL to relate multiple databases and manage and store data. This is one of the most important skills for a data analyst to understand.
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microsoft excel
Microsoft Excel is the first version of databases most analysts will work in. Companies with lower budgets and startups rely on Excel. Over the years, it has remained the mainstay for businesses in all industries.
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critical thinking
If you are going to use data to answer questions, you have to figure out the right questions to ask in the first place. This is tricky. As a data analyst, you will need to synthesize connections that are not always obvious to everyone.
Critical thinking means the ability to think for yourself as opposed to solely relying on what already exists. This is an innate ability, but it is also one that can be cultivated.
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data visualization
The ability to tell a story in a compelling way using data is key to transmitting your point and keeping an audience engaged. If it is difficult for your findings to be quickly identified, they will be difficult to transmit to others. The analyst will use high-quality charts and graphs to present findings concisely and clearly.
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machine learning
Predictive analysis and artificial intelligence are the technologies at the forefront of data analytics. You may not work with machine learning now. However, its tools and concepts are a must-know if you want to advance in the future.
FAQs
FAQs about working as a data analyst.
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What does a data analyst do?
A data analyst will process, collect, and perform statistical analysis on large amounts of data. Your goal is to find out how data can be used to solve problems and answer questions. Modern technology means that data analysts work a lot with computers to understand intertwined data.
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What are the top three skills for data analysts?
Critical thinking is a must for data analysts. You need to look at and understand the data and identify the questions that need to be asked to get the most out of the information. Data visualization is also key.
Data analysts need to be able to assimilate large amounts of data, find its key meaning, and then present that data in a way that is going to be appealing to people who may not have an analytical mind. Technical expertise, including proficiency with SQL, Microsoft Excel, and statistical programming languages, is a must.
These statistical programming languages can include R or Python, which allow you to analyze large data sets. Data analysts must become proficient in a variety of analysis programs.
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How do I become a data analyst?
- Get a degree in a field that focuses on analytical and statistical skills. This could include maths or computer science.
- Master analytical thinking and data analytics skills.
- Get additional certification on things like Microsoft Excel, SQL, and other databases.
- Get an entry-level job to earn experience as a data analyst.
- Consider getting your master’s degree for managerial jobs and higher-paying jobs in the field.
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Is a data analyst a good job?
Yes. A qualified data analyst is one of the most sought-after professionals on the planet. The demand for data analysts is robust.
There are a limited number of people who can do this job well. As a result, data analysts can earn large salaries, enjoy flexible work, and experience excellent perks. This is true even for entry-level employees.
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Do data analyst roles require coding?
No. A data analyst does not need to have advanced coding skills. Your task is to use analytics software, data management programs, and data visualization software to achieve your job.
A data analyst should have strong mathematical skills. You should also have strong science and predictive analytics skills.
working with randstad as a data analyst
Data analysts are some of the highest-paid professionals. A major benefit of working as a data analyst is that there are opportunities in terms of location and industry. These opportunities will grow as your experience in the field grows. As a data analyst, there is always a way to challenge yourself and push yourself to new levels of excellence.
a competitive field
As more industries recognize the value data analysts bring to the table, the field becomes more competitive. To be successful in the field, you need to have adequate training. Get certifications to showcase that you have the skills to become successful/
As a data analyst, you are always going to be in demand. Organizations rely on skilled professionals to help them gain greater marketing insights.
