The Career Outlook for Data Analysts in 2020

Are you a data analyst who is looking to advance their career at the dawn of the next decade? Perhaps you’re simply curious about working in data analytics and want to know what to expect. Either way, good news awaits. The job outlook for data analysts is one of the most promising of any career, both for 2020 and far beyond. 

Businesses of all sizes are becoming increasingly aware of the importance of data for growth and innovation. Demand for professionals who can analyze data to uncover trends, identify opportunities, and provide insights greatly exceeds the supply. This means that companies are willing to compensate suitable candidates generously. 

In addition to high demand and high salaries, data analysts can leverage the nature of their job to work remotely or even become self-employed. Career opportunities in this field span multiple industries, including manufacturing, healthcare, marketing, tech and many more. 

Still not convinced? Let’s dive deeper into the career outlook for data analysts in 2020. 

Outlook for Jobs in Data Analytics

This data analysts job outlook details the nature and average median salaries of some of the most popular career paths in the field. Some noteworthy points include the salary of a machine learning analyst, which ranges upwards of $127,000 per year. Higher-end market research analyst positions command salaries of up to $121,000 per year. 

The estimated job growth for a financial analyst sits at 11% through 2026, which is reasonably higher than the 5% to 8% average for all professions. Also included is a study by Accenture, showing that 79% of executives believe companies that don’t embrace data will lose strength in the market and potentially face extinction. 

It’s not only the labor bureaus that see a bright future for data analysts. Businesses are well-aware of their importance and are reacting accordingly. Ending things off with a 2019 report by LinkedIn, the networking platform stated that data scientist job openings increased by an impressive 56% in the past year. To sum it up, the outlook could not be better. 

Becoming a Data Analyst

By now, you may be compelled to pursue a career in data analytics. But where do you start? There are three steps to launching your career as a data analyst. The first involves earning a bachelor’s degree in computer science or information technology. You also need to study or minor in data analysis or statistics. 

While you study, it would be wise to seek internship or employment opportunities in a relevant field. Having work experience will go a long way in increasing your employability after graduating. From here, consider pursuing a certificate program or master’s degree to further improve your credentials.

Required Skills

Employers typically request applications from candidates with SQL and Python proficiency. This may also include XML, Javascript, R, SAS, and Hadoop. Programming languages aside, skills such as communication, critical thinking, math, and attention to detail are often requested. 

Conclusion

Pursuing a career in data analytics is one way to build a solid foundation for yourself in the future. Now it’s up to you to make it happen.