Business Analytics: A Career Worth Getting Into?

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Converting leads and making sales today is much more targeted compared to in the past, thanks to data and business analytics. In the past, when business owners and marketers did not have as many data collection and analytics tools available to them, there was a lot of trial and error involved in marketing and selling. Today, however, marketing and sales has become much more driven by making decisions that are actionable and backed by data, leading to more genuine opportunities to gain new customers and boost revenue.

Along with this, we’re currently in the Information Age. Data is something that has now become the most valuable commodity in the world, and it’s everywhere. Companies all of sizes are collecting data on a daily basis, some intentionally, while others may not even be aware of how much information they are sitting on and how to put it to good use. Data has become the lifeblood of any successful business today, so how do you make sense of all the data and turn it into information that you can use to increase sales, improve customer satisfaction, and make better decisions regarding future products and services that you introduce?

Today, there is a high demand for business intelligence professionals such as business analysts and data scientists who are tasked with working in a role where it is their responsibility to make sense of all the data collected. Data analysts condense the data collected by a company into easily understandable metrics to gain valuable insights into consumer behavior, potential future trends, and more. The demand for these skilled professionals is rising as data and the ability to understand and make sense of it becomes more and more crucial to a company’s success. Decisions that are driven by data are less risky and more likely to have a successful outcome for business leaders and managers in terms of investments or the future of the company overall.

If you are looking to get into a role where there is not only high demand but also plenty of other career benefits and the chance to get into interesting work, here are some of the best reasons to consider getting into a business intelligence and analytics career.

High Demand Globally

All around the world, businesses are making use of the massive amounts of data that they have access to. If you are looking for a career where your skills are going to be in demand no matter where you go, then this could be an ideal choice for you. Regardless of where you are, there will always be businesses that are on the lookout for professionals who have the knowledge and skills to interpret the massive amounts of data that they are gathering. Once you have the right qualifications, you will easily be able to find work no matter where you go in the world since business analytics is a universal role that can take you into a wide range of different industries. Once you have the necessary knowledge and the skills needed to successfully use the business analytics tools that are available to you, you can choose from an endless array of work opportunities.

Work In IT

If you are interested in getting into a career in the well-respected and lucrative IT field but are not interested in computer science, it is not as impossible as it may first sound. Training in business analytics gives you an alternative entry option into the IT field. Business analytics and data science use many of the same tools, giving you the opportunity to work in IT without having to get a degree in computer science or learn skills like machine learning or even a programming language. Along with this, when you work in the IT field as a business analyst, things don’t change quite as quickly or as often, meaning that you won’t have to work as hard as other IT professionals to keep your knowledge current and up to date. Although you’ll need to make sure that your knowledge of the latest data analysis tools, techniques, and software is up to date, you won’t need to stay on top of the ever-changing security standards in IT or learn new programming languages.

Demand Driven By Technology

As technology becomes more and more advanced, the demand for good business intelligence professionals including business analysts only gets higher. Data has always been a part of the world in some way, but today, we are generating much more data than ever before due to the advanced technology that an increasing number of people now have access to. Companies are now able to collect much more information about individual buyers compared to in the past thanks to gadgets such as smartphones and smart speakers, for example. As these devices get increasingly smarter, they are collecting more information than ever before to share with companies and be analyzed to improve customer experiences, determine the most in-demand products and services, boost marketing efforts, and drive business success. As tech advances, it’s likely that we’ll be able to collect even more data in the future, which is only going to increase the demand for business analysts further.

Enjoy Career Freedom

The high demand for business analysts and other business intelligence professionals means that you can easily change careers at any point. Unlike many other professional career paths that often mean working in one industry or a few similar industries, business intelligence is different as professionals are needed in a huge range of industries that are very varied and different. For example, you may go from working in retail to transportation, law to finance, or education to healthcare seamlessly using the same skills. As a trained and knowledgeable business analyst, you will have the necessary qualifications and skills needed to work in a huge range of different career positions in many different fields.

Enjoy Interesting Work

The world of big data and business intelligence is always changing. As data is being gathered on a constant basis and more advanced technology changes the way that we gather data, the good news for people who work in this field is that they can enjoy work that is interesting and varied. Working as a business analyst or in another business intelligence role gives you the chance to face a range of different challenges every day and learn something new all the time. One day you might be examining online shopping trends to help your employer put better strategies in place to drive eCommerce engagement and the next you might be assisting with improving employee attendance by looking at the data to determine which factors tend to contribute to issues the highest. Working as a business analyst means that you will need to analyze and take in lots of information, so this work can definitely be mentally stimulating. If you like coming up with solutions and ideas and are hungry for more knowledge, this might be a very interesting role for you to consider.

Make a Difference

When you consider a career option where you can make a difference, a caring or supportive role might be the first one to come to mind. However, working as a business analyst also gives you the chance to make a difference to the world with your career in a range of different ways. Data analysis is not just used to help businesses become more successful and profitable. It gives you the chance to identify and address a range of different trends that may have an impact on other people. For example, data and analytics may be used to improve areas where there is a lot of poverty, for example, or to change patient outcomes for the better in the healthcare industry. With data-driven action plans, you can get more information on what is impacting people the most and improve situations and outcomes for lots of individuals and groups.

Great Pay

With the high demand for business intelligence and analytics professionals, this is a role where you can enjoy excellent rates of pay. Business analytics skills combine business and data, putting you in a role where you can help business leaders and managers make sense of the information that they gather and put it to better use when it comes to the success of the business. Because of this, even at the entry-level you can find higher than average salaries on offer compared to other professional roles. Compared to other IT professionals, who are already earning higher than the national average, business analysts can earn around 50% more.

Start Your Own Business

If you are entrepreneurially minded and want to start your own business in the future, getting a strong background in business analytics will definitely put you at an advantage. When you understand how to gather data for your business and how to analyze it and use it to make better decisions, you will instantly be able to run a more competitive business compared to somebody without much knowledge of the field. Along with this, it can also help you save money on starting and running your own business since you will not need to hire outside professionals to come and help you make sense of the data that your business collects. No matter what kind of business venture you may be planning for the future, having business analytics education and experience can certainly be extremely valuable.

How to Get Into a Business Analytics Career

If you are interested in working in a career in business analytics in the future, you will need to get the right education and build your skills and experience.

1 – Education

The first step towards working in business analytics will involve getting an undergraduate degree in a relevant field. In general, students choose a relevant topic to major in such as economics, computer science, engineering, mathematics, statistics, or IT. As business analytics and business intelligence grow in demand, you can also find undergraduate degree programs available that focus solely on this field. Once you have graduated from your undergraduate degree, you may want to go on to get an advanced qualification such as a master’s in business intelligence or business analytics.

2 – Experience

After receiving an education to prepare you for your future role in business intelligence, you may want to find internships and other work experience opportunities. Many positions in business analytics and intelligence will require you to have gained some real-world experience, although this is not always the case, with many companies willing to take on people with little to no experience and train them on the job. However, it is worth keeping in mind since with work experience, you will be in with a better chance of getting noticed for the best positions and can increase your chance of finding employment quickly as a graduate.

Climbing the Business Analytics Career Ladder

There are plenty of things that you can do to advance your career in business analytics if you are interested in climbing the career ladder. If you want to learn more and take your skills and knowledge to the next level after getting a master’s degree, there are various professional certifications and short courses to help you expand your skill-set and get better at what you do. As the demand for data professionals rises, you might find that it is very helpful to focus on learning as much as possible and widening your skillset as much as you can to be more competitive when searching for work and put yourself in with a better chance of standing out to your potential future employers.

Business analytics roles are growing in demand as businesses face a developing need for professionals who can interpret and make sense of the vast amounts of data that they are now collecting. With companies of all sizes and in every industry generating endless amounts of data from smart devices, social media, online stores, and more, they are taking advantage of this as much as possible by using the data to make decisions that are more likely to drive customer engagement, sales, and customer loyalty.