- Data Analytics
5 jobs in data analytics that did not exist 10 years ago
Companies within the scientific sphere have been utilising big data analytics since it surfaced in the 1990s. More recently, many other companies have started to rely on data analytics to assist them in crucial decision-making and to improve business performance. Though data analytics was initially only utilised among tech-driven industries, today it is used in various sectors across the globe. It has not only changed the face of the global business but has also transformed the job scene, with a large number of positions being created and changed as a result.
This blog will help you become acquainted with five data analyst jobs that did not exist a few years ago. If you are interested in a career in big data analytics, read on to get an insight into some roles that might be suitable for you.
Healthcare data analyst:
The integration of data analytics in healthcare operations has proven to be a breakthrough in the healthcare industry. Healthcare analysts are responsible for assessing the medical data of establishments such as hospitals and medical clinics. If you work as a healthcare data analyst, your duties would include:
- Development and implementation of efficient record-keeping techniques and procedures;
- Preparing precise reports presenting latest customer bills and cost evaluation trends;
- Retrieving data from different sources and assessing them to identify discrepancies, trends and patterns;
- Preparing, presenting and interpreting status reports to the leadership and management team;
- Suggesting techniques and strategies to improve the quality of healthcare services and reducing costs within the medical establishment;
- Collaborating with the management team and other internal teams to establish and evaluate business strategies;
- Strictly evaluating the healthcare operations and healthcare platform costs;
- Preparing and implementing policy guidelines;
- Ensuring that the healthcare practices within a healthcare facility are in line with the regulations and laws set by the government.
In addition to exceptional analytical skills, healthcare data analysts must have strong time management skills and an in-depth knowledge about healthcare systems. They should also be well-versed with data management systems and analysis tools. The average annual salary of a healthcare analyst is $69,344 CAD
Quantitative analysts are usually employed by financial organizations, such as banks and investment firms, to help them make crucial decisions pertaining to risks, pricing and investment. They are responsible for designing and implementing complex mathematical models to help organizations improve their financial health and decision-making. A quantitative analyst’s typical duties include:
- Making modelling decisions based on research and analysis of market trends and statistics;
- Development and application of complex quantitative models;
- Conducting static analysis and coding on a daily basis;
- Developing and improving data collection methods and identifying data model specifications;
- Testing and analyzing new data models, analytics programs and products;
- Maintaining and modifying analytical models based on requirements of the establishment;
- Designing independent tools to verify results;
- Collaborating with other internal teams to design effective strategies;
- Presenting and explaining data results to the leadership and management team.
To excel as a quantitative analyst, you must have strong analytical skills, combined with advanced computer literacy and dedication. The average annual salary paid to a quantitative analyst is $83,000 CAD
Digital marketing manager:
Digital marketing techniques are largely dependent on data analytics in order to get desired results. A digital marketing manager is responsible for undertaking the following tasks:
- Development, implementation and management of marketing campaigns to create brand awareness and promote products;
- Measuring site traffic by means of web analytics and using the results to optimize marketing campaigns;
- Driving website traffic and attracting customers through written or visual content published online;
- Identifying, assessing and implementing new digital technologies;
- Implementing various online marketing strategies including email marketing, search advertising, display marketing and social media marketing.
A digital marketing manager must have a strong grasp of how to utilise a range of social media and digital platforms. Apart from good communication skills, they must possess industry-specific skills in marketing and leadership. Their average salary is $75,000 CAD per annum.
Data scientists are professionals who transform data into meaningful information. They work to help organizations retrieve useful insights through data collected from various sources. As a data scientist, your job responsibilities include:
- Collaborating with stakeholders across the organization to identify useful data that can contribute to business solutions and important decision-making;
- Mining and analyzing data to optimize and enhance product development, employ effective marketing techniques and create unique and effective business strategies;
- Evaluating the efficiency and precision of new data sources and data collection techniques;
- Designing custom data models and algorithms to implement over large chunks of data sets;
- Developing tools and procedures to assess and monitor the performance of data models and their accuracy;
- Collaborating with management and internal teams to implement data models and systems across the organization.
Data scientists must be exceptional at analyzing data and assessing data models. In addition, they must have strong programming skills, a broad knowledge about machine learning and data visualization and good statistical skills. The average salary commanded by a data scientist is $83,000 CAD per year.
IT systems analyst:
This is a sought-after career because IT systems analysts get the opportunity to combine their expertise in computer systems and data analytics to drive business operations towards optimal efficiency. They are responsible for defining and analyzing system problems and providing effective solutions for the same. Their typical duties within an organization include:
- Defining application problems by collaborating with clients and assessing the processes;
- Designing solutions by developing and evaluating alternative workflow solutions;
- Validating results by testing and evaluating programs;
- Providing support to the organization and ensuring that the client personnel are trained to carry out operations efficiently;
- Developing and establishing information systems.
An IT systems analyst must have gained expertise in a range of software programs and tools such as C, COBOL, software designing and development and software testing methods. In addition, they require interpersonal skills to excel including consulting skills, communication skills, time management skills and the ability to work collaboratively. The average annual salary of an IT systems analyst is $73,125 CAD
If you are interested in data analytics and want to pursue a challenging career, the Diploma in Data Analytics Co-op offered by the Toronto School of Management could be the ideal choice for you. The program helps students gain a better understanding of data analytics and allows them to explore new avenues within the data science industry. Sign up for the course today and become a part of the ever-evolving industry of data analytics.