Data Analysts Salaries from Around the World and What to Expect in 2021
If you were thinking of adapting data analysis as a career then you must do it right now as the time to do so has never been more right than now. The markets are booming with the request for professionals who can help those big businesses and enterprises to crunch down numbers and process data at rates/speeds that were considered unprecedented up till now.
With the dawn of AI and one of its more realistic approach that is machine learning, it has become paramount for the enterprises to have a data analyst on board that can sort, process, and categorizes important data so that it can be fed to the ML systems which then can help the businesses to extract some thoughtful insights from the data overall. It is like a cycle that gets completed on its own but it has distinctive elements placed at dedicated angles within the cycle that assist and further the task of the one ahead of them, so everyone is like a cog doing their own thing into the engine that we know as cybersecurity.
Why there is a need for data analytics?
Data has enabled us to create a better and stronger infrastructure to calculate assets, process financial information, and help in devising insights for future predictions. It helps organizations and businesses to do better and become an even greater version of themselves. But as the fact goes, data has an enormous worth when it comes to the financial institutions and banks. Finance-related departments keep the capital in hands of the businesses so they can effectively run their operations and banks are there for calculating assets and wealth generation.
There is an ever-increasing demand for the analytical professionals within the machine learning and AI-related enterprises. Thus the application of the data analytics to both the ML and AI is rewarding, crucial, and extremely profitable, the jobs within this sector offer better payments and increased set of opportunities.
A data analyst might get into studying the data depicting the current salary or wages being given to the employees, profits that the company is making, and then cross-referencing the two to find the balance or the overall productivity the company/business is showing. There is nothing related to investing here whatsoever. Other than that the expertise of a data analyst might also go in devising a thorough and systematic plan that can help a company to grow its assets beyond any bounds and allow them to eradicate the flaws and silos that can hinder productivity.
So, anything that is not welcoming or helping the company to grow richer and being more productive can be ruled out thanks to the keen data analysis performed by experts.
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Following is a cross-examination of various data analyst jobs and the salaries professionals in there, it is done to make you familiar with the worth of this title and what does future have in stores too;
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Business intelligence analyst
The most auspicious role of this professional is to find patterns within the corporate and the user data for a company that can help the enterprise to increase its productivity and thus helping in the addition of a certain value into their product, customer service, or any other concerned department. You need to be comfortable with a variety of things such as doing SQL evaluation of the databases, working with data visualization and interpretation related tools, and most of them all having strong communication skills to go back and forth with other members of the force working with you.
The average salary is about $95k in the US while Asian countries don't do any good with this job title but in Europe and the UK, there is a growing need for such professionals.
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Data analyst
The main job of a data analyst is to analyze the current data of the companies or businesses these are working for, this process is done to derive any valuable insight that can be derived from the data and use it for the betterment of the company's resources and services provided to the clients. The job is tough, fierce, and requires absolute knowledge of the data analysis systems on the professional's part such as they must know about SQL libraries, coding/programming experience, and most of them all they must have enough on their plate about machine learning such as what it is and how important it is.
The average salary of such professionals is about $75k but the offshore settlement such as those done in Europe or various Islands show consistent growth within the salary of these professionals.
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Data scientist
The jobs of the data scientists are not much different from the analysts as they also process and categorize heaps and heaps of data to extract meaningful insight out of it. But unlike the data analysts who don’t have a much skilled and knowledgeable perspective such as what should be done with the insight they have extracted out of the data, the data scientists can better understand and communicate this insightful pattern with the rest of the team.
They have immersive knowledge of various programming languages such as R, Python, SQL libraries, and databases but most of them all the machine learning too. It is the kind of basic for these professionals to know about all things before taking the job.
The average salary of such professionals is about $90k in the US alone but the market is more extensive and far-fetched in Europe, Asia, and a few other developed countries.
As for the year 2021, the overall demand for such professionals will continue to rise with a constant focus towards the analytical background and ability of the professionals to execute the data analysis tasks. The technology is only going to get better with the passage of time and more innovative so to speak so there is no way that the demand for such professionals will be cut short, it might be possible that these professionals will be required to work in a fusion sense such as data analysis and machine learning working together.
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