There are many new jobs in data analytics being created as a result of the digital trend, but finding the right job is much more difficult. If you wish to build your career as a data analytics consultant, you’re on the right path. Even college dropouts can pursue this path as a career. Data analytics is necessary for every organization; in this role, they learn and research the data in each sector, like business, marketing, finance, etc. Since 2010, the competition has been high for this role.
Benefits of Becoming a Data Analytics Consultant
In today’s world, there are numerous career opportunities available in various industries such as manufacturing and information technology. If you wish to improve your career or reach your goals, then switch your career to a Data analytics consultant. The main role of a data analytics consultant is to collect information and analyze the data. In this profession, you learn how to work with data, what data analytics is, and how to analyze data in various steps or methods.
Salary and Perks
The average annual salary is between around 4 to 5 lacks per annum. It depends on the company and place of work. In small-scale industries, you will get 3 to 4 lacks per annum, and in some large firms, it goes from 5 to 7 lacks per annum. Some companies will provide perks like yearly increments, experience bonuses, and some precious awards. You have 7 to 10 years of experience in this field, you will get up to 15 to 20 lacks per annum.
Data Analytics Consultant vs. Data Scientist
The main differences between these two roles are the same. Both of these roles deal with data. In the Data Analytics Consultant role, analyze and explore data on entry-level machines. In the Data scientist role, the data were analyzed using advanced machine learning and deep learning at expert levels. Data analytics is a small part of Data science. Some large-scale industries invest huge amounts to analyze data for future reference.
Example: A data analytics consultant and Data scientist were working in the same company. The e-commerce industry gives this company a project to find customer buying behavior for the last 10 years. The role or work of a data scientist is to collect structured data from the last 10 years and find out previous customer buying behavior in the e-commerce industry and predict the future of that industry.
The role or work of a Data analytics consultant is to figure out which month (In India, from October to January because this is a festival season) they made the more number of sales, Using data visualization tools. such as graph charts, pie charts, and bar charts. Submit the reports to their higher officials like top managers and decision-makers.
(In these two careers, you will have statistical and programming language knowledge.)
Roles and Responsibilities
Ø As a data analytics consultant for a company, you should be familiar with its history, services, products, and so on.
Ø Gather the reports on a monthly or yearly Basis.
Ø Expert in all levels of data cleaning, formatting, and removal of corrupted data.
Ø Data scientists should provide raw data.
Ø Discover new ways to identify technical errors
Ø The ability to repair any database system errors
Ø Complete the tasks delegated to you by higher-ups on time.
Ø Finish the daily tasks and projects.
Ø Cooperate and communicate with all staff by working with programmers and engineers.
Ø Expert-level data analysis is required.
Ø Creating financial reports
Ø Safeguard and securely store the data.
Ø Upkeep database management systems.
Types of Data Analytics
A. Business Analytics
Business analytics is another kind; it is the mix of critical analytical skills, deep learning skills, communication skills, technology, and growth to organize data in various businesses. In this, learn past, present, and future business trends. Your role is to analyze the variety of businesses and some important things to know in that organization like software is made, how the software runs, and how they develop and design the software in the software development life cycle.
How clients work on projects related to that software. What is business growth? How to improve business using different marketing techniques and how to manage competitors?
Example: Amazon and Flipkart (e-commerce or electronic commerce companies) use business analytics to analyze the Business, in the present scenario, the e-commerce industries have been growing rapidly since 2015. The competition level is high; the future of online shopping is expanding daily; on Amazon, where fifty to sixty thousand products will pack per day, imagine how big the e-commerce industry is.
Below Are the Roles and Responsibilities of a Business Analyst.
Ø Analyze the e-commerce business using data visualization tools such as Microsoft PowerPoint and Power BI.
Ø Gather monthly and yearly sales reports.
Ø Gather feedback and reviews from customers. so that decide what to do next.
Ø Create bar, pie, and flow charts in PowerPoint for detailed product reports.
Ø Compare the product price and sales on another website; if it is less expensive and has more sales than ours, how can we improve it?
Ø Study and deep research about the e-commerce industry then and now.
Ø Find out slow-moving product details.
Ø Gather year-end financial reports.
Ø Which category has the most sales?
Ø Future plans and goals include reaching 100 million customers by 2030.
B. Marketing Analytics
Marketing analytics helps your business make decisions on everything from product updates to marketing and branding. You are starting a business in any industry such as automobiles, manufacturing, food, e-commerce, and a salon or spa. Marketing and advertising are a must, without advertising the product or service, no one reaches you.
Update the product’s trend, according to customer or consumer requirements. Fulfill customer needs. As a marketing analyst, you will deeply study marketing concepts and give ideas to your company’s managers, such as how to sell a product. How to Improve our marketing strategy, and what’s our next step or move? The main role of marketing is the practice of measuring, managing, and analyzing the performance of products.
Example: You are the owner of a beauty care business, then think about how to grow your business, how to get more customers, what customers expect from your side, and how to manage competitors. These are all challenges faced when starting any business. Here are some of the roles and responsibilities that every marketing analyst will have:
· Analyze the data on a monthly and annual basis.
· Compare your business to the competitors, so that you will know what they will give and what you will.
· Never reveal your marketing strategies to anyone.
· Predict Future Outcomes
· Create additional leads as needed.
· Submit your report and work to your managers, marketing professionals, and directors.
· Finally, what customers expect from you is critical.
C. Financial Analytics
Financial analytics is an important role in any kind of business. The whole company or any organization, whether it is small or large, focuses on finance. In a company or any other sector, such as government or private, without a finance analyst, a finance manager, and an accountant. How you can manage your financial needs and expedite the expenditure. Now a day’s major companies give value to finance. Chief financial officers play major roles in this area.
Example: You join as a finance analyst or any other designation related to accounts. In the government sector, your work should begin with analyzing a statement of expenditure, and which program had the highest expenditure, comparing funds with a record of proceedings (the year-by-year budget release sheet), and determining the drawing limit of that specific program, while adhering to the guidelines of higher-level officers such as Chief finance officer and Chief accounts officer.
Here are the Roles and responsibilities of a Financial Analytics Consultant, Finance Manager, Accountant, or Account Manager (in any industry or organization).
Ø Analyze the record of proceeding (Yearly budget release copy for all the programs for expenditure)
Ø Prepare a monthly expenditure statement,
Ø Prepare budget request drafts.
Ø Ensure the safety and security of critical financial data.
Ø Revenue analytics is another name for finance analytics.
Ø Manage Taxes.
Ø Accelerate the expenditure in accordance with the Drawing Limit.
Ø Examine the accounts for all programs.
Ø Follow the guidelines for financial management.
Ø Send your reports or work to higher-ups.
Ø Communicate and collaborate with the entire staff.
Ø Compare last year’s and this year’s reports.
Ø Finish the work on time.
Ø Discover new customers.
Ø Prepare the cash book for daily, monthly, and annual transactions.
Ø Prepare the fiscal year’s balance sheet.
Ø Tally entries are used to close out the accounts.
Check here the best Data Analytics Courses in Noida
Knowledge and Abilities
Here are some technical skills to become a Data analytics consultant.
a. Data Visualization
The first and foremost thing in data analytics is data visualization. This visualizes the data in various formations. As a data analyst or a data analytics consultant; you are an expert in this data visualization background. To present data findings via graphs, charts, etc. Data visualization will promote creative data exploration. Also called “visible data.”
b. Data Cleaning
Data cleaning means removing corrupted, unwanted, and inaccurate data in Database. It is not an easy task, and you may also find some technical errors, such as formula errors in Microsoft Excel.
Learning Python is very important for data analysts, consultants, and scientists. In this programming language, you will use some mathematical and statistical calculations. also, you can write code on this for software development. This is mainly used for data science.
Want to Advance Your Career, Learn SQL Structured Query Language, also known as the acronym; If you Ignore learning this, it will be challenging to find a job. Data analytics is rapidly expanding in the current environment. On the other hand, you should concentrate on NOSQL frameworks. to compare SQL, it structures its information in any way.
e. Machine Learning
Machine learning is the ability to clean data. You must learn Python to understand machine learning.
f. Microsoft Excel
If you are going to any job in this world, then Microsoft Excel is the key factor. Without this tool, how do you analyze the data? And it has its own programming language, VBA. Excel is also used for data entry, data formation, and filtering data by various parameters. Compared to other spreadsheets, Excel is the best, 600 to 800 million people use it worldwide, and we can easily calculate millions of data in a second.
It has excellent features such as mathematical formulas, macros, bar charts, pie charts, and flow charts. The pivot table is the salient feature of Microsoft excel; in this table, you will get any amount of data.
g. Critical Thinking
Critical Thinking Means, you create a sales report for the year. You Can Research That Data and Understand That Report.
h. Communication Skills
The most important aspect is communication; you will prepare a presentation for the HR meeting. The manager will ask you to explain it, you will explain every part of that presentation to everyone. You are not, you are unfit for a data analyst or with any other designation because communication skills are important.
(You can have expertise in data analytics; these are the skills required.)
The last and final step is certification. You can learn anything, but the certifications are the most valuable.
Jobs Similar to Data Analytics Consultant
Ø Data Analyst
Ø Data Scientist
Ø Business Analyst
Ø Marketing Analyst
Ø Data Engineer
Ø Data Manager
Ø Senior Data Manager
You are working in any organization as an analytics consultant, knowing about the company is more important, without knowing, how can you work? Business, marketing, production, and finance are the major parts of data analytics. Communication skills are much more important, cooperating with all the staff, such as higher officers, managers, directors, etc. Work as per the client’s needs. Any problem that comes to you, be ready to face it and solve it. Self-study and portfolio as the key ingredients of analytics consultants.
1. What is a data analytics consultant?
Data analytics means collecting raw data and analyzing and reviewing the data using data visualization tools such as Python, R programming, Microsoft Excel, and SQL. In addition to gaining useful information from the data, you will also learn and research it thoroughly. You know more about math and statistics formulas, and some calculations have happened while you were analyzing the data. This role or position will be in high demand in the future.
2. Why choose this course?
In today’s world, there are lots of courses available: professional courses, designer courses, writing courses, etc. Compared with other courses, this is the best for your career. In the future, if you start a company or any sector, you will need a data analytics consultant, a data analyst, and surely a data scientist.
3. What is the minimum salary?
The starting salary will be 3 to 4 lacks per annum, depending on the location and city. In Bangalore, it will be 4 to 5 lacks per annum, In Chennai and Hyderabad, it will be 3.5 to 4 lacks per annum. In metro cities such as Delhi, Chennai, Hyderabad, and Bangalore, you get higher salaries compared to non-metro cities. With 3 to 4 years of experience, you can expect to earn up to 7 to 9 lacks per annum and advance to any senior position.
4. Can I choose this as my career?
Of course, from 2021 to 2031, 25 to 30 percent of jobs were created in this field. In the present2020s, the demand was high for this role. In the future, it will go from 40 to 50 percent. In Bangalore, the software company’s percentage will be 70 to 90 percent over the last 15 to 20 years. Want to switch careers, this is the right opportunity for you. In India, 45 to 60 percent of jobs were created.
Also, 35,000 to 45,000 jobs are available currently. In this way, many positions were created. Analytical manager, senior manager, senior product manager, director, senior project manager, data manager, and business development manager, with annual salaries ranging from 5 lacks to 50 lacks. Top positions after analytics consultant, mobile developer, consultant, and data analyst.
5. Which are the best online learning or offline classes?
When compared to traditional teaching, online learning or classes are superior because you can learn from anywhere at any time. If you live close to that institute, you can easily attend classes there. You can also ask questions or express doubts directly in class. In the current situation, almost all are learning online only. The main issue with online learning network problems.
6. What is the minimum qualification for this course?
In terms of qualifications, an incomplete college student with a non-IT background can choose this. For analytics consultants, a bachelor’s degree is required. If you’re a computer science student, no problem. Math and statistics knowledge and programming language expertise are the primary skills of analytics consultants, along with expertise in advanced Excel.
7. What is the course fee?
The cost of a course should vary depending on the institute. There are a lot of colleges and coaching centers in India where you can learn this.
8. I am a medical student, and I am from a science background. Can I pursue this course?
Sure, in IT and software companies, 20 to 30 percent of consultants are from medical backgrounds alone; another good thing is that in medical you have math and statistical knowledge. Then why did you choose this as your carrier? Better try for the data scientist role.
In conclusion, you have gained a lot of knowledge and skills as an analytics consultant, every organization or company needs this, such as those in the automotive, telecom, e-commerce, and manufacturing industries. You also open your consulting firm after 5 to 10 years of experience in the field of analytics consulting, which is in high demand. If you are interested, then move to this.