Large amounts of data are all around us, and there is a strong desire to gather and save whatever information is available so we don’t miss out on anything important. There is a massive volume of data moving about. How we handle it is extremely important. That’s why working with Big Data Analytics is at the cutting edge of Information Technology. Big Data Analytics has become really important because it helps make businesses better, improves decision-making, and gives a big advantage over rivals. This goes for both companies and people working in the Analytics field. Here is why building a career in big data analytics can prove to be a lucrative and rewarding experience:
Rising Need for Analytics Experts
Data becomes meaningless without the ability to understand it. This, in turn, has increased the demand for analytics experts. Job openings in managing and interpreting Big Data exceed last year’s, with IT professionals investing time and resources in training. This trend indicates a steady rise in opportunities. Currently, a fraction of the analytics sector is projected to constitute one-third of the global IT market. Firms are actively seeking skilled analytics professionals to unlock Big Data’s potential. Job ads in analytics have notably grown, reflective of the rising business need for applications of big data analytics and the consequent need for qualified experts.
Excellent Job Prospects
The demand for analytical expertise is consistently on the rise, but a significant shortage exists in the available talent pool. This phenomenon is widespread, transcending geographical boundaries. Despite the considerable prominence of big data analytics and its applications, as a sought-after field, a substantial number of vacancies remain unfilled worldwide due to skill deficiencies. Notably, India currently boasts the highest concentration of global analytics activity. Nevertheless, the shortage of data analytics professionals remains pronounced, and the demand for such talent is predicted to intensify, given the increasing trend of global organizations outsourcing their operations.
The robust need for Data Analytics expertise is driving up remuneration for proficient practitioners, rendering substantial rewards for those possessing the requisite skills. As indicated by The Indian Analytics Industry Salary Trend Report, the average earnings of analytics professionals in India witnessed a 21% surge in 2015 compared to the preceding year. The report further highlights that 14% of analytics experts command a salary exceeding Rs. 15 lakh per annum. This trend underscores the lucrative nature of the Big Data domain and its potential for rewarding careers.
A Top Priority Profile
Findings from a study revealed that a considerable number of participating organizations consider Big Data Analytics a paramount concern, attributing its potential to enhance their operational effectiveness. The survey outcomes indicate that around 45% of respondents anticipate that Big Data analytics will yield significantly more precise business insights as compared to other professionals. Furthermore, survey-driven research highlights the importance of Analytics, with 77% of respondents believing Big Data Analytics a top-tier priority.
The world of big data and analytics keeps changing. As technology advances, this field also evolves. To build a fulfilling and prosperous big data analytics career, it’s important to keep learning about any new changes that could affect your work. Stay updated and keep learning to make sure you stay valuable in this field as things develop over time.
Authored By: Prof. Ashok Kumar Harnal [B.Tech- IIT Delhi; M.Phil (Social Sciences); MA (Economics)] FORE School of Management