Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains. (Wiki)
The job of a data analyst is to collate, process and carry out statistical analyses of data. The skill is not as sophisticated as that of a data scientist, which means data analysts normally do not create new algorithms), but the aim is the similar –finding out how data can be utilised to seek solutions of problems.
Today many Indian universities and many other institutions have launched courses in Data Analytics/Data Science. The future evidently looks bright for Data and its associate fields including Data Science, Data Analytics, Data Engineering.
Where to study?
Top 10 Analytics Courses in India as has been ranked by Analytics India Magazine-
1. PGP in Business Analytics & Business Intelligence – Great Lakes Institute of Management
2. Business Analytics and Intelligence – Indian Institute of Management (IIM B)
3. Postgraduate Diploma in Business Analytics (PGDBA) – IIM Calcutta, ISI Kolkata, IIT Kharagpur (Tri-institute program)
4. Certificate program in Predictive Business Analytics – BRIDGE School of Management
5. Executive Program in Business Analytics – MISB Bocconi and Jigsaw Academy
6. Post Graduate Program in Business Analytics – Praxis Business School
7. Post Graduate Program in Data Science, Business Analytics and Big Data (PGP-DS-BA-BigData) – Aegis School of Business, Data Science & Telecommunication
8. Certificate Program in Business Analytics – Narsee Monjee Institute of Management Studies (NMIMS), Bangalore
9. PG Diploma Program in Data Analytics – IIIT Bangalore & UpGrad
10. Business Intelligence and Big Data – IMT Ghaziabad
Analytics Jobs See Salary Upsurge: Reveals Study
On 3rd April, 2018, Great Learning, a leading analytics learning platform and Analytics India Magazine, came out with their ‘Salary Study – 2018’ that explores a range of current and emerging compensation trends in the Analytics & Data Science space across India.
The study points out that while the salary of analytics professionals across various industries and specializations are improving steadily; the IT sector has shown a downward trend with lowest analytics salaries this year.
“There has been a consistent increase in analytics professionals commanding salary of over 15L. Mumbai is the highest paymaster in analytics, followed by Bangalore and Delhi. Telecom offers the highest average salaries in analytics followed by retail and energy sectors. Women analytics professionals earn 32% lesser salaries compared to their male counterparts
The Indian Data Analytics Industry, currently worth $2 billion is expected to witness a massive eight-fold growth and is expected to be worth $16 billion by 2025, according to Nasscom. Keeping with expectations, the study indicates that the median salary of analytics professionals is growing year on year. The average salary of data science professionals across all skill sets and experience levels was INR 12.7L in 2017, an 8% increase since 2016, on a much larger base of professionals,” reveals the study.
The study further indicates an improvement in the entry and mid-level salaries being commanded by analytics professionals:
Key salary trends:
• Close to 40% analytics professionals earn an annual salary upwards of INR 10L.
• Increasingly, analytics professionals are commanding salaries upwards of INR 6L. In 2018, 37.6% of Analytics professionals in India received a salary of less than 6 Lakhs, compared to 39% in 2017 (39%) and 42% in 2016.
• Mid-level analytics professionals are now progressing towards a higher salary bracket of INR 15 to 25L. While the number of Analytics professionals commanding salaries less than INR 10 Lacs has gone down; the number of Analytics professionals earning more than INR 15L has increased from 17% in 2016 to 21% in 2017 to 22.3% in 2018.
• While there is a significant rise in mid-senior professionals earning between INR 25 to 50L, those with salaries in extreme brackets (upwards of INR 50L) have seen a decline from 3.7% in 2017 to 3% in 2018.
Expert Speaks
Today there are many freshers in the analytics domain, signifying that the sector is coming of age. Data analysts are now working across sectors and the salary of the professional are mostly dependent on the industry they are associated with. According to the study, telecom offers the highest median salaries in analytics at 18.6 Lakhswhereas media & entertainment offers the least median salaries for analytics professionals at 10.3 Lakhs.
According to Hari Krishnan Nair, Co-founder, Great Learning data science jobs are both rewarding and intellectually fulfilling. “Companies across industries are now looking for data analysts with diverse skills sets. Positions including Machine Learning Engineers, Data Scientists, Data Mining Specialists, Cloud Architects and Cyber Security Analysts are in much in demand and are very well paid,” he informed.
Professionals with skills in machine Learning and analytics can now get a pay package of 12-14Lakh per year. However, to make it big in this field one must up-skill him/her by learning the latest technology.