Data Analytics in India: Trends, Tools, and Salary Insights in 2024
In this blog we are going to talk about how you can become a data analyst in India. The salary for entry-level data analysts in India ranges from 3 to 6 lakhs, and if you advance further, it can go up to 15 to 20 lakhs.
In the United States, the salary figure is around $90,000, making it a very high-paying profession.
Difference Between Data Analytics And Data Scientist
So, many people get confused when they try to clarify the difference between a data analyst and a data scientist.
- Data analyst focuses on collecting and processing data, and building models on top of data.
- While a data scientist focuses on finding patterns in data, building machine learning models, and doing advanced mathematical analysis on it.
What Is Data Analysis? What Is Data Analytics?
- Data analysis systematically applies logical and/or statistical approaches to explain and demonstrate, summarise and assess, and assess data.
- Data analytics may be defined as the act of examining historical data in order to use insightful information to make proper decisions going forward.
- Data analysis, on the other hand, aids in analyzing the data and offers the necessary historical context to comprehend what has occurred thus far.
Do data analysts have a future?
You could begin as a data analyst, advance to data scientist status after gaining some expertise, and ultimately become a data advocate. Both in India and overseas.
- Data science and analytics jobs are projected to see growth by 31% in the upcoming decade.
- The data analytics market is estimated to reach $24.63 billion in 2021 and is projected to grow at a compound annual growth of 33 percent from 2020 to 2030
- 11.5 M expected new jobs for data science and analytics.
- source: financialexpress
- The data analytics market is projected to grow by 29.4% from 2023 to 2030 source: 365datascience
- INR 4L-11L avg annual salary source: Glassdoor
Will data analytics be replaced by AI?
- No, AI will not replace data analytics.
- Instead, AI will complement and enhance it by automating specific tasks and offering advanced analytical capabilities.
- While AI can perform certain analytical tasks quickly and efficiently, human input and interpretation are still essential for properly analyzing data and making informed decisions.
- Additionally, storytelling in data analytics, which relies on human communication and emotional connection, cannot be effectively replicated by AI.
Tools Or Techniques Used / Skills Required
Data Analysis collects data, analyzes data, uses Excel, SQL, and even some programming where needed to extract insights from the data, and presents data visualizations.
1. Microsoft Excel: A widely used tool for data manipulation, analysis, and visualization. It is ideal for handling smaller datasets and performing basic statistical analyses.
2. Google Sheets: Similar to Excel, Google Sheets allows for data manipulation and analysis with the added benefit of real-time collaboration and cloud storage.
3. SQL: Structured Query Language is essential for managing and querying databases, allowing analysts to retrieve and manipulate large datasets efficiently.
4. Tableau :A powerful data visualization tool that helps analysts create interactive and shareable dashboards to present their findings visually.
5. R or Python: Both are popular programming languages for data analysis. R is known for its statistical capabilities, while Python is favored for its versatility and extensive libraries such as Pandas, NumPy, and Matplotlib.
6. SAS: A software suite used for advanced analytics, business intelligence, data management, and predictive analytics.
7. Microsoft Power BI: A business analytics tool that provides interactive visualizations and business intelligence capabilities with an interface simple enough for end users to create their reports and dashboards.
8. Jupyter Notebooks: An open-source web application that allows data analysts to create and share documents containing live code, equations, visualizations, and narrative text, commonly used with Python and R.
These tools help data analysts manage, analyze, and visualize data, making their analyses more effective and their insights more accessible to stakeholders.
Roles and Responsibilities
- Meeting with key stakeholders to understand business requirements and objectives
- Maintaining databases and establishing data processes
- Defining criteria for data quality
- Working with business stakeholders to define success metrics
- Collecting data from both internal and external sources
- Data cleansing
- Conducting different types of analysis using dedicated programs and tools
- Producing visualizations, such as graphs and charts
- Presenting findings to key stakeholders
- Advising on the best course of action.
Types Of Data Analytics
With the rapid expansion of technology, the ability to gather, sort, and analyze data has become crucial across almost every industry.
Data analysts can be found in fields such as criminal justice, fashion, food, technology, business, the environment, and the public sector.
People performing data analysis might hold various titles, including:
Medical and Health Care Analyst
Focuses on analyzing data to improve patient care, streamline operations, and manage health resources effectively.
Market Research Analyst
Studies market conditions to examine potential sales of a product or service and provides insights into consumer behavior.
Business Analyst
Identifies business needs and determines solutions to business problems, often focusing on improving processes and systems.
Business Intelligence Analyst
Uses data analysis to support decision-making processes within a company, providing insights into business performance.
Operations Research Analyst
Applies mathematical and analytical methods to help organizations solve complex problems and make better decisions.
Opportunities And Challenges For Data Analysts
Opportunities
- High Demand: The burgeoning amount of data across industries has led to soaring demand for skilled data analysts to extract valuable insights.
- Diverse Industries: Data analysts are needed across sectors such as finance, healthcare, e-commerce, marketing, and more, offering a wide range of career paths.
- Career Growth: The role can serve as a stepping stone to higher positions like data scientist or data engineer, providing ample opportunities for career advancement.
- Impactful Work: Data analysts play a crucial role in driving data-driven decision-making, leading to tangible business improvements.
- Competitive Salaries: The demand for skilled data analysts often translates into attractive salary packages and benefits.
Challenges
- Skill Gap: The rapid evolution of data technologies and tools requires continuous learning and upskilling to stay relevant.
- Data Quality Issues: Dealing with inconsistent, incomplete, or inaccurate data can be time-consuming and challenging.
- Tool Proficiency: Mastery of various data analysis tools and software is essential, which can be overwhelming for beginners.
- Ethical Considerations: Data analysts must navigate ethical dilemmas related to data privacy, bias, and fairness.
- Automation: While automation can streamline certain tasks, it also poses the risk of job displacement for analysts who don't adapt to evolving roles.
Top 10 Colleges or Universities for Data Science and Analytics in India
- Indian Institute of Technology (IIT) Bombay
- Indian Institute of Science (IISc) Bangalore
- Indian Statistical Institute (ISI) Kolkata
- International Institute of Information Technology (IIIT) Hyderabad
- Indian School of Business (ISB), Hyderabad
- Manipal Academy of Higher Education
- University of Delhi
- IIM Calcutta
- BITS Pilani
- Great Lakes Institute of Management, Chennai
Some free Resources
Future Skills
FutureSkills Prime is a dynamic ecosystem that provides learners with essential, cutting-edge digital skills.
courses pathways, and industry-recognized NASSCOM certification programs align with National Occupational Standards (NOS) and the National Skills Qualification Framework (NSQF), helping learners gain in-demand skills valued by employers.
- https://bit.ly/4cRMqaC
- https://futureskillsprime.in/artificial-intelligence-and-machine-learning/data-processing-and-visualisation
- https://futureskillsprime.in/artificial-intelligence-and-machine-learning/exploratory-data-analysis
Udemy
- Udemy offers various free courses in data analytics that can be a great starting point for learning the basics.
- These courses typically cover fundamental concepts, tools, and techniques used in data analysis.
- Learning from these free courses is a good idea as they provide valuable knowledge and skills that can help you get started in the field.
- Python courses, Introduction to Databases and Sql querying
- How to Become Data Analyst , Data Analyst using Python
Coursera
- Coursera is an online learning platform that partners with top universities and organizations to offer a wide range of courses, specializations, and degrees.
- Courses often include video lectures, assignments, and peer interactions, and many offer certificates or credentials upon completion.
- Coursera is popular for its high-quality content and the opportunity to learn from esteemed institutions and industry experts.
Internships
GfK
GfK connect data, science and innovative digital research solutions to provide answers for key business questions around consumers,
markets, brands and media. With our headquarters in Germany and a presence in around 60 countries worldwide. Apply Now
Primary skills Required
- Strong command on Database and Excel
- python
- visualization tool
- Problem solving skills
- communication skills
Resource Plan
Resource Plan, founded by alumni of IIT Bombay and backed by prominent investors, is revolutionizing the way design businesses operate. Apply Now
Primary skill requirements
- Excel
- project management
- time management
- powerpoint
- Business analysis
Sujata Projects (SP)
- Sujata Projects (SP) is one of the leading CMMI - 5 Certified IT infrastructure solutions, lighting, civil, and electrical services providers in India.
- SP has delivered 1000+ projects across India and have 500+ testimonials from its clients. It serves around 8500+ SMBs and 5000+ enterprise customers. Apply Now
Primary skill requirement
- SQL
- Understand coding and service management
eRetail Cybertech
- eRetail Cybertech specializes in providing advanced cloud-based POS billing software tailored for the retail industry.
- Offerings include Warehouse Management Systems (WMS), POS systems, and backend solutions, with options for both on-premise and cloud-based setups. Apply Now
Primary skills requirements
- MS Office
- Database management
- communication skills
- Presentation skills
- market analysis
Conclusion
In this article, we learned about
- Difference between data analytics and Scientist.
- What is data analysis and what is data analytics.
- Do data Analysts have future?
- Will data analytics be replaced by AI.
- Tools required.
- Roles and Responsibilities in day to day tasks
- Types of data analytics.
- Opportunity and challenges for data Analysts.
- Top colleges/University in India.
- Some Free resources to learn.
- Internship to learn and grow.
That's all for now! In our next article, we'll dive deeper into another exciting topic. Happy learning, and see you soon!