The hype around big data is growing, and for good reason. Big data has been around for the past two decades, but its popularity has skyrocketed since businesses started embracing AI and machine learning. Now, it has become part of almost every industry — from the aviation sector to manufacturing.
This trend isn’t going to end anytime soon. The popularity of data analytics is set to grow well into the future as more people realise the importance of data in business and in our daily lives. According to the Mckinsey Global Institute, 2.3 trillion gigabytes of data is produced every day.
The market size of big data is expected to exceed $103 billion by 2027. Studying data is valuable for professionals at all stages of their careers. Not only can knowledge in this field open a range of career opportunities, but this is an area that is valuable for nearly every profession these days.
Whether you want to pursue a role in the data industry or progress your career in project management or cybersecurity, a qualification in data will be invaluable. Businesses are looking for people who can manage a large volume of data efficiently to serve customers better and get an edge over their competitors. This demand for data experts and analysts is only set to grow in the future.
Why Study Data?
Data Analytics is a Priority for Businesses
The main reason to study data is that data skills are in high demand. With more companies moving to big data, there is a shortage of data analysts and experts. This means that graduates with data skills can pick between exciting roles and demand a high salary.
A data analyst collects data from different sources, draws conclusions, and makes recommendations to help a company’s financial growth. It is a skill that companies need in their best employees. Even if you don’t want to pursue a career as a data analyst or data engineer, having qualifications in this area will make your resume stand out.
From healthcare to education, just about every industry is turning to big data to improve decision making. In today’s increasingly competitive landscape, companies incorporate AI and other data-based tools to streamline operations and offer more value to their customers. According to CETPA InfoTech, 77% of businesses believe that data analytics is crucial to their performance.
In fact, the performance of a company is measured by data analytics. This means the data analyst plays a pivotal part in decision making, marketing, and creating business policies.
Great Range of Jobs Available
Before you decide to study data, it’s important to get one thing straight – the roles available in the industry go far beyond just being a data engineer. Data engineering is a technical profession that focuses on data mining.
On the other hand, data analysts collect data from enormous databases to help financial, HR, and marketing teams get a clear picture of the company’s financial performance. They play an essential role in decision making.
Other roles available for those who study data include:
- Data consultant
- Big data architect
- Data manager
- Marketing analyst
- Chief data officer
- Market knowledge manager
- Operation and sales analyst
- Big data engineer
And that’s just to name a few — the opportunities are endless. Studying data not only gives you knowledge of the field, but also helps to improve your critical thinking, problem-solving, and project management skills.