Data Is the New Currency (and Why You Should Get a Career in Data)

in Business

Looking back on the world 50 years ago and most jobs were heavily reliant on manual labor. However, times have changed, and now data is the new currency.

Data analytics, in particular, has paved a wide range of opportunities for individuals in various fields. With the multitude of data that we are constantly creating every day, it’s becoming essential to have a grasp on this field.

Data Analytics: What Is It?

Analytics is the technique of processing data in a numerical, graphical, or another manner to gain insight into business practices.

This sort of analysis can help organizations make better decisions, identify trends and recommend possible improvements. Some people would say that analytics is currently in use in every industry.

Getting a job in data analytics isn’t easy; most candidates will need a specific qualification in the field, such as an MS in Applied Economics. However, universities such as have study programs that will help students to work towards a career that will be needed in the near future.

Getting a Job in Data Analytics: How Do I Get There?

There are numerous ways to get into data analytics; however, finding a job that is suited to you can be difficult: many jobs are going unfilled.

Data Analytics-Related Jobs

On the topic of data, here are some of the best jobs in data analytics and big data:

Data Scientist Salary (US) $115,388 per year

The Data Scientist looks at tons of datasets coming from different sources and transforms them into knowledge.

If you’re into math and business analysis, this is the perfect job for you. This position requires a higher degree in high-level math, statistics, or a relevant field. To be a successful Data Scientist, you must also be familiar with programming languages such as Python or Java.

Chief Data Officer Salary (US) $200,000 per year

The Chief Data Officer is an executive role that ensures the organization’s data is clean and analyzed correctly.

The CDO must understand the available data and its implications for the organization’s strategy. It’s also his/her job to make sure that data is used correctly, whether it’s managing a big data project or ensuring that the way people use information in the key decision-making processes is correct.

Examples of companies with a Chief Data Officer position include Apple and Intel.

Data Engineer Salary (US) $92,500 per year

The Data Engineer is responsible for building the databases and managing the process of big data systems. He/she oversees that all processes are running smoothly and effectively. This position requires a degree in computer science or a related field and knowledge of big data technologies.

Data Scientist in Residence Salary (US) $165,000 per year

This Data Scientist in Residence position involves working within a company for a fixed period where you assist the team with any problems they might have regarding their data or their decisions regarding it.

Data Visualization Analyst Salary (US) $76,000 per year

Work with data to produce engaging and interactive visualizations. The Data Visualization Analyst will use best design practices to create new and innovative ways of looking at the data.

With this position, you can expect to have a variety of tools at your disposal, including Excel, Tableau, or Google Charts, so that you can easily visualize your findings.

Image Credits: Martin Sanchez

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