Data analytics refers to all the information stored in the operational databases in an organization as well as the data coming in real-time. Without proper utilization, this information becomes useless. data analytics provides the means to analyze and utilize all this data.
Most businesses work with the primary goals of decreasing costs and increasing revenue with the insights on data analytics. Focus has also been on developing a culture which is data driven. This would allow for new innovation and faster deployment of services. Industries are now heavily investing in software that would dramatically improve their decision making capabilities.
JOB PROSPECTS IN DATA ANALYTICS
Data analytics is a field projected to show significant growth in the coming decade. Companies are looking to exploit the potential of the data they generate. Without analytics, data would not serve any purpose. With data analytics, it has become possible to access and retrieve data in multiple formats received from distributed sources.
Predictive and prescriptive analysis are the most in-demand jobs. Focusing on one particular skill would help you to gain an edge over the competition. Career in data analytics is not limited to a particular domain. data analytics is heavily applied in education, manufacturing, media, retail, healthcare and other industries. Industries are investing heavily in this technology.
Analytics provides a better salary than most IT professions. data analytics analytics ranges in the top three technical jobs in 2017. According to research, the median salary for most employees is $105,000. A career in this field will boost your technical skills. It would enable you to be a key-person in any organization, working closely with crucial business decisions. No matter how much the technology evolves, there will always be a need for human-insights when it comes to data analysis.
CHALLENGES IN DATA ANALYTICS TECHNOLOGY
The biggest challenge in this technology is just the sheer volume of data being generated. It is estimated that data doubles in all the IT organizations around every two years. The storage and analysis of this data is growing increasingly difficult, especially because it is unstructured. Most of the data is not in any database, and could be in any format such as audio, video, text, multimedia, forms. Techniques such as data deduplication and compression are used to store data.
Another issue is gaining all these insights in a time bound manner. This increases a demand for skilled individuals capable of handling the software. There is a current lack of supply as compared to the demand. Data is also coming in unstructured, so it becomes difficult to correlate and integrate the different types of data. The validation and security of this data is also of prime importance. This data may be hacked by hackers or may be subject to threats.
Though it may be challenging to work with data analytics, persistence and a strong leadership will help any company achieve the desired results. Companies need to be open-minded when it comes to adopting new technology.
Data analytics is a field with an immense growth rate, but it is not without its challenges. Learning data analytics and gaining expertise in a niche field to boost your career can be achieved via data analytics course.
Address: 360DigiTMG – data analytics, IR 4.0, AI, Machine Learning Training in Malaysia
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