Today’s companies have access to a massive amount of data. Artificial intelligence (AI) and Internet of Things (IoT) technologies are two contributing factors to data growth. However, this data is only useful if it can be transformed into actionable insights.
According to international consulting firm Deloitte, this growing data generation is why the tech industry has increasingly sought employees skilled in analysis. In fact, according to the U.S. Bureau of Labor Statistics, data analyst jobs are projected to see a 20% increase from 2018 to 2028.
The Growing Demand for Data Analysts
Now, more than ever, companies need professionals who can organize and analyze data to make strategic business decisions. High-paying job opportunities are available in various thriving industries, including information technology, healthcare, finance, retail, insurance, and professional services. There’s never been a better time to pursue a career in data analytics. Let’s explore the skills and education you need to succeed in this growing field.
Essential Skills for Data Analysts
To excel as a data analyst, you need a unique combination of technical and interpersonal skills. Finding professionals with these sought-after skills has become a challenge for many companies.
Technical Skills Required for Data Analysts
- Data Preparation: The ability to manage large, unstructured data sets and turn them into organized and usable information.
- Statistical Analysis: Proficiency in foundational statistical methodologies and current SAS (a statistical software suite) technologies is essential for predictive analytics.
- Applied Machine Learning: Increasingly sought-after, this skill helps analysts automatically detect patterns and trends in data, speeding up the process of gaining insights.
- Programming Languages: Knowledge of languages such as R and Python is crucial for creating algorithms to manipulate and interpret data.
- Data Visualization: The ability to clearly display data and translate insights for a non-technical audience. Proficiency in tools like Tableau is a core competency for data analysts.
Interpersonal Skills for Data Analysts
- Critical Thinking: The ability to dive into details while maintaining a big-picture perspective, translating data into actionable insights.
- Creative Problem Solving: The capacity to look at problems from multiple perspectives and try different approaches to solve them.
- Communication and Presentation: The ability to collaborate across departments and help executives turn findings into effective business strategies.
- Intellectual Curiosity: A desire to constantly explore new methods and technologies to extract meaning from data, maintaining relevance in this ever-evolving field.
Educational Pathways for Data Analysts
A bachelor’s degree is the minimum requirement for nearly all data analyst positions. While a data analytics degree is new in higher education, there are other programs that can prepare you for this career. Degrees in computer science, statistics, or information systems can provide the foundational technical skills needed for data analytics.
As the field evolves and technology advances, many employers prefer candidates with master’s degrees. Pursuing an advanced degree can be a significant step toward excelling in this field.
Best Degrees to Stand Out for Data Analyst Jobs
A master’s degree is becoming the gold standard for competing for top-paying positions at competitive companies. According to a 2020 Burtch Works study, 50% or more of data scientists and predictive analytics professionals hold a master’s degree. Many of these professionals have advanced degrees in statistics, business, or engineering.
A master’s degree in data analytics will prepare you with advanced skills, including:
- Creating visualizations and interactive dashboards from multiple data sets.
- Applying appropriate data analytics methods to solve real-world business challenges.
- Articulating assumptions, analyses, and interpretations of data in various modes.
- Evaluating the ethical use of data.
- Applying best practices in securely managing data.
Top data analytics master’s degree programs will also help you gain industry-recognized credentials. For example, graduates from Franklin University’s master’s program in data analytics can earn a SAS Tier 2 Academic Specialization in Data Analytics.
Finding the Right Master’s Degree in Data Analytics
If you’re a working professional looking to advance or change your career, you need a university that caters to your unique needs. Franklin University’s flexible, online data analytics program is designed for working adults. The M.S. in Data Analytics at Franklin combines best-practice methodologies with hands-on learning and instruction from industry professionals, getting you career-ready in as few as 19 months.
Explore how the M.S. in Data Analytics degree can elevate your career and help you thrive in the exciting field of data analytics.
