5 Reasons Why Big Data Analytics Gives Your Career A Bigger Fillip
18 February 2016
Ride on Big Data and sail high in your career sea! At the present time, a mammoth amount of data is being generated almost every day. But what should we do with these voluminous data? This is where the importance of Big Data analytics comes into play. Being at the frontiers of information technology, Big Data analytics helps in enhancing business and decision-making process and gives a competitive edge to the business. This holds true not only for companies but professionals as well, especially for Big Data analytics professionals, a world of opportunities are now available to explore.
Still not clear how will Big Data give your career a head start? Here are 5 reasons to clarify your doubts.
- The demand for analytics professionals is skyrocketing:
Imagine if there are no skills to analyze data, then what is the purpose of any data? It will be just like a white elephant that gets bigger and bigger - without any use. So, to make the most of any data and to take informed decisions, we need data analytics. Probably that's why, the demand for Big Data management and analytics professionals is on the rise. Check out the job trend graph of the Big Data Analytics profession below and see how the number of job opportunities is gradually increasing year-on-year.
Experts believe that the present requirement for qualified data professionals is still at a nascent stage. The size of the analytics market is projected to become about one-thirds of the global IT market in the future. As revealed by the survey ‘The Future of Big Data Analytics-Global Market and Technologies Forecast-2015-2020,’ the global market for Big Data analytics is expected to grow at a CAGR of 14.4% and will become a USD 76-billion market by 2020. So, now for Big Data professionals, the sky is the limit.
- Rising skills gap fuels the demand for expert professionals:
Despite the growing popularity of Big Data analytics profession, skill shortage is a major challenge across the world. According to a study by McKinsey Global Institute, the US will witness a scarcity of around 1.5 million managers and analysts having expertise in leveraging Big Data by 2018.
Even in India, skills gap in the Big Data space is getting severe day by day. One of the prime reasons is that more global companies are outsourcing their work to India. As revealed by an India-based career consultant, “In India, two types of Big Data professionals are now in demand—Data Scientists (who are involved in performing analytics) and Analytics Consultants (who are able to comprehend and leverage data). Now, with a growing demand, there is a glaring skill scarcity too.”
- Rewarding in terms of remuneration:
Yes, when it comes to remuneration, jobs related to Big Data definitely ensure big bucks. Companies are now open to spend big on the right talents. Here are some of the top-paying Big Data Analytics job tiles and their respective salaries:
- Big Data Analytics is fast assimilating into organizational DNA:
If you step into the profession of Big Data analytics, the world will be your oyster. Yes, it's true. Not only you can get a lucrative job in any part of the world but also take the center stage of your organization right from day one. And the reason? Data analytics are steadily being assimilated into the organizational process.
According to a survey by Deloitte, Technology in the Mid-Market; Perspectives and Priorities, 65.2% of participants have revealed that they are using some types of analytics in order to cater to their business needs. Also, 32.8% believe that analytics is able to predictively take care of various aspects of the business, while 28% have revealed that it has increased operational effectiveness and 25.2% have expressed that it provides a higher competitive edge in comprehending customer trends and patterns.
- Analytics is creating the base for the decision-making process:
Steadily, analytics is becoming an important component of the decision-making process of organizations, thereby creating more job opportunities for analytics professionals. According to IDG Enterprise's 2015 Big Data and Analytics survey, 61% of respondents think that analytics ensures better decision making, while 57% think that it improves planning and forecasting and 51% feel it increases the speed of decision making. These numbers absolutely indicate the importance of Big Data in decision making and thus increasing the demand for related skills globally.
Big Data analytics professionals can majorly opt for three types of career options - Predictive Analytics, Prescriptive Analytics, and Descriptive Analytics. A professional with proficiency in any of these analytics can analyze data better, think critically from the business side, and present insightful solutions. If you become dependable professional, you will definitely bask in a bright and prosperous future.
So, don't you think today and in coming times, building a career in analytics will give you the extra edge that you have always wanted?