In today’s data-driven world where 90% of the world’s data has been created in the last two years alone, Analytics isn’t just the way of the future; it is the way of now.
The consistent demand for data-driven decisions in companies and competent professionals that can interpret and make decisions based on valuable data has grown tremendously over the past few years.
Data Analytics has become a crucial skill set globally and in Nigeria, as it helps in improving business, decision making driven by data and providing the biggest competitive advantage over competitors.
This applies to organizations as well as professionals in every sector. For professionals, who are skilled in Data Analytics, there is a sea of opportunities out there.
Here are 5 reasons why you should consider learning Data Analytics.
Increasing Demand for Data Analysts
One of the top job recruitment websites in the world, Indeed.com has provided a research graph that shows Data Analytics demand growing steadily in direct proportion to the number of job opportunities available globally.
The demand cuts across various industries that touch on Data analytics, but to specify, there are two major talent deficits in the market, which are Data Scientists that perform analytics and Analytics Consultants that understand and use data to make decisions.
The demand for these positions is constantly growing as competent professionals within this space are becoming increasingly rare.
Increasing demand for Data Analytics skills and consultants is resulting in an upward rise in wages for competent professionals and making Data pay big bucks for the right skill. This phenomenon is being seen globally where countries like Canada, Australia and the U.K are witnessing this upward swing in demand for Data Analysts.
According to the Skills and Salary Survey Report published by the Institute of Analytics Professionals of Australia (IAPA), the annual average salary for data analysts is $130,000 i.e. N46, 800, 000, up 4% from last year.
Data Analytics: A Key Factor in Decision Making
Business analytics is giving managers the opportunity to understand the different dynamics of their business, anticipate market shifts and mitigate risks. Rather than relying on “gut feelings” when making top decisions such as; pricing, inventory management, marketing, talent acquisition and countless other decisions, companies are embracing data analytics and statistical reasoning to make decisions that improve efficiency, risk management and profits.
Data-driven organizations not only make better strategic decisions, but also enjoy high operational efficiency, improved customer satisfaction, and robust profit and revenue levels.
Data Analytics to Boost Customer Acquisition and Retention
Business success is significantly dependent on its ability to acquire customers and retain them. There is no business that can establish a claim to success without first having a very strong customer base. Although, even with a strong customer base, a company can’t afford to disregard the competition.
Once a business is slow in picking up what customers are interested in and looking for, then that leads to poor quality service offerings and poor products at the end that adds no value to the customer.
Data analytics allows companies to analyze and observe different customer search and buying patterns and trends. Paying attention to this customer behaviour provides opportunities to trigger loyalty. The more data a business collates, the more patterns and behaviours that business will identify with its customers.
Today, because of all the data available through technology, it’s very easy to understand the modern customers, and strategies can be born from the massive data available that will enable businesses to deliver products and services that fulfil the needs of the customer and deliver products and services that your customers really want.
Data Analytics is Used Everywhere
It is a given that there is a huge demand for Data Analytics owing to its awesome features. The tremendous growth is also due to the varied domain across which Analytics is being utilized. Some of the industries where Data analysts work include: Healthcare, retail, banking, manufacturing, public transportation, cybersecurity and so much more.
Whether your goal is to get a full-time job in a new industry, advance in your existing career, or work for yourself in the data analytics field, ARMA can prepare you for the opportunity. You are guided for top-paid jobs in your dream company locally and internationally, grab opportunities to get associated with corporate clients ARMA are in partnership with and have a prolific resume prepared to take your career to the next level.
Be sure about upgrading your technical talents as the training courses are well equipped with the latest tools and up-to-date curriculum. With this digital learning dais, you will experience quick, simple, and incredibly excellent ways to employment.