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10 Reasons Why Big Data Analytics is the Best Career Move

Big Data is everywhere and there is almost an urgent need to collect and preserve whatever data is being generated, for the fear of missing out on something important. There is a huge amount of data floating around. What we do with it is all that matters right now. This is why Big Data Analytics is in the frontiers of IT. Big Data Analytics has become crucial as it aids in improving business, decision makings and providing the biggest edge over the competitors. This applies to organizations as well as professionals in the Analytics domain. For professionals, who are skilled in Big Data Analytics, there is an ocean of opportunities out there.

Why Big Data Analytics is the Best Career Move? If you are still not convinced by the fact that Big Data Analytics is one of the hottest skills, here are 10 more reasons for you to see the big picture.

Huge Job Opportunities & Meeting the Skill Gap: The demand for Analytics skills is going up steadily but there is a huge deficit on the supply side. This is happening globally and is not restricted to any part of geography. In spite of Big Data Analytics being a ‘Hot’ job, there is still a large number of unfilled jobs across the globe due to the shortage of required skill. A McKinsey Global Institute study states that the US will face a shortage of about 190,000 data scientists and 1.5 million managers and analysts who can understand and make decisions using Big Data by 2018.

India currently has the highest concentration of analytics globally. In spite of this, the scarcity of data analytics talent is particularly acute and the demand for talent is expected to be on the higher side as more global organizations are outsourcing their work.

Salary Aspects: Strong demand for Data Analytics skills is boosting the wages for qualified professionals and making Big Data pay big bucks for the right skill. This phenomenon is being seen globally where countries like Australia and the U.K are witnessing this ‘Moolah Marathon’.

According to the 2015 Skills and Salary Survey Report published by the Institute of Analytics Professionals of Australia (IAPA), the annual median salary for data analysts is $130,000, up to four percent from last year. Continuing the trend set in 2013 and 2014, the median respondent earns 184% of the Australian full-time median salary. The rising demand for analytics professionals is also reflected in IAPA’s membership, which has grown to more than 5000 members in Australia since its formation in 2006.

Randstad states that the annual pay hikes for Analytics professionals in India are on average 50% more than other IT professionals. According to The Indian Analytics Industry Salary Trend Report by Great Lakes Institute of Management, the average salaries for analytics professionals in India were up by 21% in 2015 as compared to 2014. The report also states that 14% of all analytics professionals get a salary of more than Rs. 15 lakh per annum.

A look at the salary trend for Big Data Analytics in the UK also indicates positive and exponential growth. A quick search on Itjobswatch.co.uk shows a median salary of £62,500 in early 2016 for Big Data Analytics jobs, as compared to £55,000 in the same period in 2015. Also, a year-on-year median salary change of +13.63% is observed.

Big Data Analytics: A Top Priority in a lot of Organizations According to the ‘Peer Research – Big Data Analytics’ survey, it was concluded that Big Data Analytics is one of the top priorities of the organizations participating in the survey as they believe that it improves the performances of their organizations.

Based on the responses, it was found that approximately 45% of the surveyed believe that Big Data analytics will enable much more precise business insights, 38% are looking to use Analytics to recognize sales and market opportunities. More than 60% of the respondents are depending on Big Data Analytics to boost the organization’s social media marketing abilities. The QuinStreet research based on their survey also backs the fact that Analytics is the need of the hour, where 77% of the respondents consider Big Data Analytics a top priority.

A survey by Deloitte, Technology in the Mid-Market; Perspectives and Priorities, reports that executives clearly see the value of analytics. Based on the survey, 65.2% of respondents are using some form of analytics that is helping their business needs. The image below clearly depicts their attitude and belief towards Big Data Analytics.

Adoption of Big Data Analytics is Growing: New technologies are now making it easier to perform increasingly sophisticated data analytics on very large and diverse datasets. This is evident as the report from The Data Warehousing Institute (TDWI) shows. According to this report, more than a third of the respondents are currently using some form of advanced analytics on Big Data, for Business Intelligence, Predictive Analytics, and Data Mining tasks.

With Big Data Analytics providing an edge over the competition, the rate of implementation of the necessary Analytics tools has increased exponentially. In fact, most of the respondents of the ‘Peer Research – Big Data Analytics’ survey reported that they already have a strategy set up for dealing with Big Data Analytics. And those who are yet to come up with a strategy are also in the process of planning for it.

Big Data Analytics is Used Everywhere! It is a given that there is a huge demand for Big Data Analytics owing to its awesome features. Tremendous growth is also due to the varied domain across which Analytics is being utilized. The image below depicts the job opportunities across various domains.

Numerous Choices in Job Titles and Type of Analytics : From a career point of view, there are so many options available, in terms of the domain as well as the nature of the job. Since Analytics is utilized in varied fields, there are numerous job titles for one to choose from.

Big Data Analytics Business Consultant Big Data Analytics Architect Big Data Engineer Big Data Solution Architect Big Data Analyst Analytics Associate Business Intelligence and Analytics Consultant Metrics and Analytics Specialist Big Data Analytics career is deep and one can choose from the 3 types of data analytics depending on the Big Data environment.

Prescriptive Analytics Predictive Analytics Descriptive Analytics. A huge array of organizations like Ayata, IBM, Alteryx, Teradata, TIBCO, Microsoft, Platfora, ITrend, Karmasphere, Oracle, Opera, Datameer, Pentaho, Centrofuge, FICO, Domo, Quid, Saffron, Jaspersoft, GoodData, Bluefin Labs, Tracx, Panaroma Software, and countless more are utilizing Big Data Analytics for their business needs and a huge job opportunities are possible with them.

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