Why wouldn’t you consider hiring a data analyst? Given the abundance of information and data that we have all around us, are you able to make sense with it? Or are you able to use it to your benefit for your and your organization’s growth? If yes, congratulations you’ve made an excellent choice! If not, then you may need to catch up to speed. This mere 10 minutes read, will throw light on why exactly will your organization need a Data Analyst.
Data Analytics is no more a foreign concept as few years back. Today, most of us know or at least have heard about Data Analytics. The tasks that are involved in the role of a Data Analyst may be esoteric for some however the advantages that this domain brings to your organization are quite visible and straightforward. It has been proven time and again that organizations that use extensive data analysis can beat the competition from time to time. There is a certain Toward Data Science Survey that states that more than 54% of organizations may need predictive analysis that generates business intelligence to stay relevant.
One of the commonly known reasons why Data Analysis can win over any business and support with continued revenues, is because it provides the organization with actionable and relevant insights on improving their business model. Organizations are also able to cut down on their operation costs, understand customer pulse, consumption trends and so on with Data-driven decision-making.
The role of a Data Analyst is to avail you of these benefits. Data Analysts are trained people who are empowered to offer you relevant business intelligence that has the potential to maximize your cash flow and improve your bottom line. Your business can achieve growth that is measurable and sustainable.
Before we understand the why of Data Analytics, let’s throw some light on what is Data Analytics and how is it useful to your organization. So to speak in the basics, Data Analytics deals with discerning meaning out of the disorganized information and giving meaning to the raw data that an organization may avail. It is data driven approach to decision making.
When you are able to understand, project, explore & strategize your abstract data, you are also able to make the right decisions. You can share valuable insights within your organization that are derived from giving meaning to data. Data Analysts are able to interpret the data viz numbers also called Quantitative Data, sounds, words or images also called Qualitative Data. These interpretations lead to solid conclusions and actionable insights which can empower your profitability and business’ bottom line.
To begin with Data Analysts use the very raw disorganized information available at the organizational/departmental/individual level. They take this raw data and come up with supportive information by implying certain interventions. They bring stability to the unstable raw data. To be able to make the data analyzable, the first step is to collect, organize and clean the data.
Next in the phase of data analysis there is deployment of multiple metrics to make sense of the data for decision making. Some of these metrics are statistics, visualization and programming. These days we have tools to automate all of these metrics easily. However despite of the increase in automation, Data Analysts need the tangible or intangible skills to move around the data eco system.
Two powerful reasons why Data Analytics is so important:
Firstly, Data Analytics gives decision making power to an organization.
And secondly the nature of the data is evidence based which can give factual information.
Data Analysis give the organization the power to make decisions which are rooted in the empirical data. Out here it is important for us to note that Data Analysis may not give hundred percent accurate results, however it is great at predicting the future trends and come up with meaningful conclusions.
With Data Analysis companies have the power to be proactive in
Without Data Analysis businesses work on instincts and not on tangible facts and evidences.
Let’s understand here that Data Analysis is just not limited to the businesses but its impact is widespread to the society at large. We are able to use the data to improve patient experience in hospital, apply this to the agriculture technology to make the most of seasons and food crops.
But they can make your data work magically for your organization!
Now that we have got an understanding of what Data Analytics is and why it can add value to our business let’s deep dive into what is the role of Data Analyst in your organization. The very primary role of Data Analyst is to be able to transform raw data into actionable insights for the key decision makers. After analyzing the data that is available at the organizational level, the Data Analyst is going to answer specific questions or solve specific problems that’ll support actionable insights. Once the Data Analyst have been able to solve the set of problems they are expected to provide evidence to their superiors who could plan for the future decisions to be made.
Briefly we could associate the following responsibilities to Data Analyst
These are the responsibilities of Data Analyst broadly. Let’s look at some of the specific task that Data Analyst carry out to support your organization with visual, relevant and understandable Data.
Decision making in every stage of your organization can make or break the chances of running a successful business. If your organization has Data Analytics systems in place, you are automatically ahead in your niche, above everyone who is not using these metrics.
With Data Analytics you can plan for the future obstacles, make relevant strategies, cut operational costs, streamline the production process, reach to your end consumers more efficiently and quickly. Data Analytics can bring these into play to support you towards your vision.