As more businesses realize the importance of Big Data as a resource for obtaining insights and making informed decisions, the need for data analysts is increasing.
Because the supply of data professionals has not yet caught up with demand, salaries for these positions remain high.
This makes the data analytics career a lucrative job option. Data Analytics is one profession that is welcoming talent at a time when employees are getting pink slips, wage cutbacks, and being laid off. Data Analysts not only have an authoritative role in their company or organization but also get good pay and have a wonderful work-life balance.
Let's see how much can you exactly make as a Data Analyst in India in 2024.
What is Data Analytics?
Every day, a large quantity of data is generated (1.145 trillion megabytes) as a consequence of the increasing number of mobile users, expanding internet penetration rates, and the availability of various eCommerce apps.
The practice of analyzing raw, unprocessed data to produce meaningful insights and reports is known as data analytics. When a business uses data analytics, it is more likely to make wiser decisions, assess trends and consumer satisfaction, and provide a better product overall.
In layman's terms, data analytics is the process of slicing through huge amounts of data, processing and analyzing it to find relevant information that may help businesses better understand challenges and choose the best course of action.
What does a data analyst do?
Data analysts are experts who convert data, statistics, and figures into simple English so that everyone may interpret them.
This role requires data mining, expertise in languages such as SQL, Python, and others, as well as the ability to communicate those ideas into visualizations and reports.
Data analysts' responsibilities might vary based on where they work and the type of data they analyze. Nonetheless, in general, a data analyst may be in charge of the following tasks:
The following are some of the main responsibilities of a data analyst:
Data analysis and extraction for organizations in order to uncover patterns, insights, and other correlations.
Create and deploy personalized models to provide answers to questions about company strategy, performance, trends, and so on.
Create SQL queries to pull data from the Data Warehouse in order to solve complicated business problems.
Map and trace data from several platforms to solve business challenges.
Utilize customer-centric algorithms to tailor specific requirements.
Skills required to become a Data Analyst
Following are some of the key skills you must possess for a successful career in Data Analytics:
1. Business Understanding
In the field of data analysis, it is essential to understand business factors. A Data Analyst is expected to make a big positive difference both inside and outside. Understanding the business model is essential in this field.
2. Mathematics Skills
A data analyst typically deals with numbers and statistics, thus a thorough understanding of them is required.
3. Technical Skills
A data analyst's primary responsibility is to extract data from provided data sets. Python, R, and SQL are the most often used programming languages in the domain. In some circumstances, you may need to extract data from complicated data sets; therefore, understanding these languages will benefit you by making the extraction process easier.
4. Visualization of Data
After acquiring and evaluating data, the ultimate aim is to offer final insights to other colleagues or even higher-level officials. Most people will be unable to gain useful insights from big spreadsheets of numbers. As a result, as a data analyst, you will be able to build data visualizations to gain a better understanding of the data.
5. Writing and Communication
One of the most essential tasks of a data analyst is to help colleagues comprehend the data; strong communication is required to do this. The fundamental task in the field of data analytics is to provide a written report. So, without a question, the most crucial talent that every data analyst should acquire is superior communication and writing abilities.
Data Analyst Salary in India
In India, the average income for a Data Analyst is Rs 479,565. It varies, however, based on characteristics such as experience, talents, and the geographical location of the employing firm.
1. Based on Experience
An entry-level data analyst job in India pays Rs 3,83,332 annually on average. Here’s, the compensation can increase greatly as we gain experience.
Here’s how the data analyst salary in Indiavaries with experience:
2. Based on Location
Another aspect that has a direct impact on the pay scale is location. It is mostly determined by the cost of living in a city or state, as well as the demand for the occupation.
Let's look at how geography affects data analyst salary in India:
3. Based on Company
When it comes to recruiting a Data Analyst, various firms and employers in different sectors have distinct requirements. As a result, it is understandable that compensation is impacted by the company's market position, function, and the skills necessary.
Here’s the data analyst average salary by some of the top recruiters in India:
4. Data Analyst Salary in India: Based on Skills
A Data Analyst who lacks the experience required for a high-paying position might negotiate their wage simply on their skills. As a result, rather than merely obtaining a degree, upskilling is critical for obtaining a decent professional opportunity.
The most prevalent abilities are shown here, along with their yearly compensation and influence on salary.
How to become a data analyst
Companies all around the world are highly valuing analytics and its ability to change market patterns, thereby increasing the demand for skilled data analysts. In fact, according to the US Bureau of Labor Statistics, Data Analysts are expected to increase at a faster-than-average rate of 19% between 2014 and 2024. Data Analytics Salary is among the highest in the country.
Whether we have the prior technical knowledge or are starting from zero, registering in a certified online course is among the best ways to become a data analyst. Newton Schools Data Science and Artificial Intelligence Course is a highly-effective online program that teaches all the required data analytics skills and makes you job-ready.