You may have heard of a little thing called Data Analytics, you may even be considering a career in the area, but do you really understand the topic’s evergrowing importance and constant growth in the business environment? You may think you do, but trust me when I tell you that with Data Analytics, both figuratively and literally, there is always more than meets the eye!
Defining Data Analytics
Data Analytics can be described as the process of retrieving, cleaning, transforming, visualising and modelling data. The ultimate end goal of these various processes is to discover information that may prove useful in both informing business decisions and supporting the decision-making stakeholders.
From the stakeholder’s perspective, there are four types of Data Analytics:
- Descriptive Analytics – providing insights into the past and attempting to answer the question of what happened?
- Diagnostic Analytics – building on descriptive analytics, to answer the question, why did what happen, happen?
- Predictive Analytics – helping company stakeholders to predict future events and ultimately seeking to answer the question of what is likely to happen in the future?
- Prescriptive Analytics – a process that builds on predictive analytics and aims to provide companies with a suitable course of action.
More information on the different types of data analytics can be found in Dublin CODING School’s previous blog post, HERE.
The Growth of the Sector
The constant growth of these various analytical processes previously mentioned has been well documented in the media. Numerous facts and statistics have come to light truly exemplifying the space as an area of interest for both current and prospective industry employees. For one, advertised job roles in the area have grown by 28% over the last three years. This, coupled with the fact that just under 60% of all businesses worldwide use analytics in some capacity, is the reason for the skills gap currently existing in the sector, for which business’s demand for data scientists and analysts outweighs the supply of suitable candidates.
It is clear to see that there has never been a better time to enter into a career in Data Analytics. Organisations worldwide are seeking people in order to cope with the ever-increasing amount of data they have in their possession, analyse it, and put the conclusions to use. With Dublin CODING School’s 8 week course in Data analytics, led by top industry professionals, you can take your first step towards a truly dynamic and rewarding new career in the sector. Download the brochure HERE and futureproof your career today!