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The Role of Data Analysts in Business Transformation

If you want to acquire data analyst skills to make a successful career in this field, then enrol yourself in a comprehensive data science course.

To scale heights in this technology-driven era, it is essential for businesses to cope with the latest market trends and predict future possibilities. This is where data analytics comes into play. Notably, data analytics has become an essential business process these days, serving as the backbone of modern industries.

If you want to acquire data analyst skills to make a successful career in this field, then enrol yourself in a comprehensive data science course. Read ahead to know more about data analytics and what is the role of data analyst in transforming businesses. 

What is Data Analytics?

Data analytics is not just about amassing data, but also extracting valuable insights from the raw data that helps organisations make informed, high-stake decisions to drive their businesses towards enduring success. It involves refining the raw data into structured data to identify patterns and trends, offering key business insights. 

Providing a reliable and trustworthy basis to make decisions, data analytics helps companies understand the state of their business, customer behaviour, competitors and the market well. Also, it guides businesses in identifying their pain points, errors or unproductive strategies and defining target customers and buyer personas.

For a data analysis process to be adequate and efficient, it is vital to hold strong data analyst skills. A seasoned data analyst will not only prepare the business questions to be answered ahead of conducting analysis, but also have a clear understanding of the business objectives to be achieved.

Elements of Data Analytics

Here are some of the key elements of data analytics that work together to seamlessly transform raw data into valuable insights. 

Data Collection: Involves gathering relevant data from diverse sources like customer interactions, connected devices, social media, sensors and transactions 

Data Storage: Includes scalable storage platforms, such as cloud storage and distributed databases, to accommodate structured, semi-structured and unstructured data 

Data Processing: Refers to transforming raw data by cleaning (removing duplicates or errors), organising and structuring it into formats that can be easily analysed 

Data Analysis: Uses advanced techniques, such as statistical modelling, machine learning and predictive analytics, to uncover data trends, patterns and correlations 

Data Governance: Ensures data quality, accuracy and consistency across a company

Benefits of Data Analytics for a Business

Here are the advantages of using data analytics tools:

  • Enable better decision making across all levels
  • Uncover new business strategies
  • Support the digital transformation of a business
  • Aid in forming future strategies

What is the Role of Data Analyst in Business Transformation?

The basic role of data analysts involves harnessing the data from within and beyond organisational boundaries to offer business insights for the leadership, supporting strategic, operational, tactical, and even real-time decisions. 

Let’s dive deeper to know what is the role of data analyst in an organisation.

  • Acquire a global, comprehensive and reliable vision of the business
  • Define target customers and buyer persona
  • Enhance monitoring of the business activity
  • Foster inter-departmental cooperation
  • Help in increasing return on investment 
  • Interpret business reality
  • Improve customer experience
  • Identify errors and weaknesses along with potential areas for improvement
  • Optimise processes
  • Obtain insights and valuable information
  • Optimise existing markets
  • Predict future scenarios 
  • Reorient business strategies
  • Risk reduction
  • Streamline work routines
  • Spot business opportunities 

Besides, it is to be noted that the average data analyst salary in India is ₹6,00,000 per year. 

Challenges in Implementing Data Analytics for Business Transformation

The following are the challenges in implementing data analytics for business transformation:

  • Poor data quality and integration can generate unreliable insights, hindering the effectiveness of data analytics
  • Organisations often struggle to find skilled professionals with expertise in various field like statistical analysis, data visualisation and programming
  • Resistance displayed by employees to adopt new technologies and processes 

Conclusion

Acting as the foundation of the business decision-making process, data analytics plays a vital role in transforming businesses. Getting deep into the historical data and leveraging predictive modelling structure help data analysts offer in-depth knowledge about the business, its market, its competitors and its customers. This not only aids in making the right business decisions, but also steers a company towards prosperity.  

If this domain interests you, then get ready to acquire data analyst skills. To be industry-ready, enrol in a reputable data analytics course like Imarticus Learnings’ Postgraduate Program In Data Science And Analytics.

(Disclaimer: ABP Network Pvt. Ltd. and/or ABP Live does not in any manner whatsoever endorse/subscribe to the contents of this article and/or views expressed herein. Reader discretion is advised.)

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