Viewing the trends of the Data Analytics field through the lens of its history gives insight into the skills and experience that are most sought after as well as the companies and geographic areas which offer the best salaries and employment conditions.
The use of analytics by business can be found as far back as the 19th century when Frederick Winslow Taylor initiated time management exercises to improve industrial efficiency. In the late 1930s, analytics began receiving more attention as computers became decision-making support systems. Data analytics has evolved significantly with the development of big data, data warehouses, and a variety of software and hardware.
The development of relational databases in the 1970s and non-relational databases with the advancement of the internet in the 1990s ushered in the era of "Big Data" and a new frontier for employment opportunities in data analytics. The origin of the modern data analyst was born out of the use case demands of the internet. Over the past 10 years, the need for data analysts has grown exponentially as more people and companies expand their exposure to the internet.
Through the development of open-source advancements, some data science projects can be completed without typing code. However, data scientists are still required to have a combination of technical and soft skills to work actively in the field.
The usage of Data science bootcamps, online courses and communities are aiding analysts to solidify their skills. Our research supports that the technical skills listed above are amongst the highest in-demand in the current job market. Additionally, the following skills are also sought after:
Specializing in an emerging field in data analytics can be a great way to future-proof your career and make yourself a valuable asset to companies. Emerging fields in data analytics are areas that are growing rapidly and have high potential for impact and innovation.
By focusing on developing skills such as creativity, emotional intelligence, problem-solving, adaptability, and communication, you can future-proof your career and ensure your long-term success.
In the fast-evolving landscape of data analytics, staying ahead of the curve is crucial to future-proofing your career. As we step into 2024, the demand for data analytics professionals is skyrocketing, and with it, the need for an upgraded skill set. As we look into the changing landscape of data careers we can see that across the nation needs (and in turn skills) vary from one place to the next.
There are several factors that influence salary for data analysts. In general, with a range of $50,000 to $120,000 per year, the average data analyst salary sits at $77,110, according to Indeed.com.
Experience matters as well. New analysts can expect on average, $73,000, which rises to $81,600 with 3 to 5 years, and $91,200 with 10 plus years of experience.
High earning analysts prioritize their skills, and depending on the industry, certain skills will be compensated more than others. Across the board, SQL and Excel are probably most important. Next in line is a statistical language such as Python or R.
Analysts strong in statistics and probability, such as math majors, will be in demand, since this kind of processing and organization builds into the bread and butter of data analysis, visualization. Whether through Python or Business Intelligence programs such as PowerBI or Tableau, data can and should tell as story.
Demand for skilled data analysts is growing — the World Economic Forum Future of Jobs 2020 report listed this career as number one in terms of increasing demand.
Not to be overlooked, there are common benefits to the position. Most companies hiring data analysts will have comfortable office space, or remote work, and with those usually comes benefits. Analysts can expect 401(k), employee stock purchase plan, a range of health and dental insurance, tuition reimbursement, and the list goes on.
The top 3 states with the highest demand for Data Analysts are California, New York, and Texas for several key reasons. These states are home to some of the largest metropolitan areas in the United States including Silicon Valley in California, the Dallas-Fort Worth metroplex in Texas, and the New York City metropolitan area. These regions serve as epicenters for numerous industries such as technology, finance, healthcare, and e-commerce.
All of which heavily rely on data analysis to make informed decisions and drive business growth. These states are home to robust ecosystems of universities, research institutions, and tech companies which support a talent pool of data analysts and provide an environment for innovation and data-driven solutions. Additionally, their overall economic vitality and the high cost of living make them attractive destinations for both established companies and startups, further increasing the demand for data analysts.
By focusing on developing skills such as creativity, emotional intelligence, problem-solving, adaptability, and communication, you can future-proof your career and ensure your long-term success
Due to technological advancements in the modern age, learning new skills have become apparent to cope with the demands and changes in various fields. The skills of a Data Analyst can help with future proofing.
Exposure to at least the top five most commonly needed skills in data analytics are SQL, Excel, Python, Tableau, and Power BI.
The ability to manage empathy, effective communication, self-awareness, self-regulation, and motivation are some key components to identify which skills compliment a desired career path,and will enhance the ability of a job seeker to hone in on the field to which they are best suited.
Becoming an active listener is one primary skill needed to become a prolific problem solver. Data analytics often involve the need to identify a problem, analyze possible solutions, and then decide on the best course of action.
Learning to maintain an open mind to adjust to new situations that can rapidly change. Being able to absorb constructive criticism, and work through worst-case scenarios.
The skill of being able to take technical and or complicated information and present in a clear and concise format that anyone can understand.
Foote, Keith E. “A Brief History of Analytics.” Dataversity.net, Publication date 20 Sept 2021, Accessed Date 17 Sept 2023, https://www.dataversity.net/brief-history-analytics/
“Frederick Winslow Taylor.” Wikipedia, Wikimedia Foundation, Date of last modification 1 Oct 2023, https://en.wikipedia.org/wiki/Frederick_Winslow_Taylor.
Yosifova, Aleksandra. “The Data Analyst Job Outlook in 2023: Research on 1,000+ LinkedIn Job Postings.” 365datascience.com, Publication date: 10 Aug 2023. https://365datascience.com/career-advice/data-analyst-job-outlook/
(Compensation 1: https://www.indeed.com/career/data-analyst/salaries)
(Compensation 2: https://www3.weforum.org/docs/WEF_Data_Science_In_the_New_Economy.pdf)