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Product, financial and systems analytics. How much do they earn and what kind of data is analyzed?
A global study by the consulting agency MarketsandMarkets shows that from 2021 to 2024 the volume of the global product analytics market will at least double another two times. This is due to the urgent need for companies to create competitive projects – no, not only in the field of IT. For example, today it is interesting for retailers to work on services that help to arrange goods so that they are likely to be sold out, and in the restaurant business – to develop tools for analyzing the customer base that form personal offers to increase customer loyalty.
Together with SkillFactory experts, we talk about the main tasks, skills, approximate salaries and the first steps of beginners on the way to a potential salary with five zeros.
What a product analyst should be able to do? Find growth points and improve the product, develop reports and metrics for monitoring, conduct tests of team decisions, test and scale hypotheses, process, analyze and visualize data using various tools: SQL, scripting languages (Python, R), BI tools (Power BI, Tableau), web analytics systems and others.
What a financial analyst should be able to do? Build financial and economic models, analyze the market, collect information into a single model, evaluate the intellectual capital of companies and financesoviet institutions. Develop investment strategies and substantiate the effectiveness of investment policies, have skills in working with big data sets, manage a company’s portfolio of assets and liabilities.
What a systems analyst should be able to do? A systems analyst is much closer to technical specialists, it is important for him to have a deeper knowledge of digital skills and terms in order to freely translate business tasks into the development language.
And what about salaries? If you grow deeper into the professional sphere and constantly pump expertise, then the data analyst’s income grows to serious amounts. The graph shows that after six years of experience, you can earn over 250,000 and become, for example, a data scientist, whose salary is already 330,000:
Screenshot from the market research of analysts from the company “Normal Research”
Where to start and where to go to study. Do not be afraid if you suddenly decide to change your profession and from a linguist or psychologist to become an analyst. For this it is not at all necessary to study again for 5 years. For those who want to learn to be an analyst from scratch, or vice versa – to deepen their knowledge, the SkillFactory has an online course Profession “Data Analyst”, which will dive into a new field in 18 months. At the same time, it is not necessary to own ready-made analytical skills or be a beginner IT specialist. Among the students you can find people with basic mathematical knowledge, and those who consider themselves to be a humanities student to the bone.
Leave your application by November 15 and get a 45% discount on training with the promo code DATA.