Companies today realize the value of data-driven business strategy and are looking for talented individuals who can collect information and gain meaningful insight. Research shows that nearly 75 percent of Indian executives say they prefer job candidates with data skills and demand for analysts who will help in digitizing the business. If you are planning to start your career in data analytics and wonder how to kickstart it, here's a look at the top five skills a recruiter prefers in a data analyst.
Data analysis for the finance industry is pivotal and hence the use of Microsoft Excel comes into the picture. When you think of Excel, a spreadsheet comes to mind but there's a lot more analysis power under this. R or Python is better for large organizations but advanced Excel methods like Macros or VBA are used widely in mid-level organizations. Over the years, the tool has remained mandatory for every business, so learning it is a must. Excel is limited with big databases so learning advanced software is highly recommended.
To find answers to your questions you must figure out what to ask in the first place. To become an analyst, you need to think like an analyst first. It is the responsibility of a data analyst to uncover and synthesize connections that are not always so clear. There are few tips through which you can improve your critical thinking skills. For instance, ask yourself basic questions about the issue at hand, it will help you stay grounded when searching for a solution.
Learning R or Python
Whatever Excel can do, R or Python can do it ten times better. These are powerful statistical programming languages used to perform adapt mining techniques and data modeling. To become a successful analyst, you need to master at least one of these languages. You may be flummoxed between R and python, but an employer does not care as long as the results are accurate.
Data visualization and presentation skills are two of the most important topics in data analytics. You should be able to compel a story with data keeping in mind your audience. But presentation skills do not come naturally, you need to practice more until you get into your groove. You need to focus more on the audience rather than yourself as it will help you be more comfortable while presenting.
Artificial Intelligence and machine learning are the hottest terms in the field of data science. Every analyst does not work with Machine learning, but knowing some key concepts will be helpful. A tool like Orange can help you start building machine learning models. Machine Learning is a must in big data analytics.
In the financial market, data analytics and business analytics are essential and the above-mentioned skills will help you achieve them. One of the most efficient ways to pursue data analytics is through formal education. Furthering your education can prepare you to thrive in this competitive field.