Data in 2022 is synonymous with power. Data grants the power of predicting through uncertain and most precarious times. The world was already suffering from a devastating recession since the early 2000s. The pandemic emerged as the last nail in its coffin. The world economy was shattered beyond repair as the major players in the financial realm collapsed under the sheer pressure of lockdowns. Associated industrial sectors in other parts of the world also collapsed. The ones being directly benefited by outsourced work started to suffer from serious unemployment problems. Under these circumstances, the thriving IT sector also collapsed and started to lose the grace it was known for. Thankfully for the ones in trouble, data science emerged as a saviour. Data science is a technology-dependent course intricately allied with computer sciences. Thus for the IT and CSE professionals, the switch was easy and given the prospects, lucrative by all means. This article will try to explore the cause of the same.
Just data analytics certification?
A data analyst is expected to harness the power of data. Seemingly unrelated data can be very useful. And a data analyst is expected to make sure of that. Just a data analytics certification is not enough when it comes to securing employment. Given the responsibilities bestowed upon a data analyst, experience on the front is essential to possess. Any proposition of accumulating error can be detrimental and for a new venture, it can initiate the endgame a bit early. Thus employers are reluctant to hire anyone with inadequate experience.
What are the opportunities?
Healthcare
In the healthcare sector, massive amounts of data are being used for the development of personalized medicine and therapies. Just a couple of years ago we didn’t have the ability to store and handle the huge amounts of data that is essential for the development of therapies. But now we can, and thus we are doing it on a large scale. However, this huge amount of data is impossible to make sense of using human effort. These automation tools that are being trained by using the same data are being deployed.
Financial prediction
Financial predictions are all about adept analysis and utilization of financial data. Given the precariousness of our economy, it is wise to make data-dependent decisions and risks taken in the process should be calculated as well. A data analyst takes into account all the factors that can affect the outcome of any financial decision. Factors like climatic and sociopolitical patterns can be analyzed for effective forecasting and prediction of future circumstances in detail. Financial decisions made on the basis of extreme data analysis are expected to be accurate based on the source, authenticity and quantity of data.
Disaster management
Environmental calamities are a major contributing factor in terms of financial and humanitarian losses. Thanks to the abundance of data a data analyst can predict these calamities in detail. Including the onset and potential effects. Based on these inferences, a data analyst can decide upon the evacuation of at-risk populations and save millions of lives and even more in property value in the process. The east coast of the USA is a burning example. The region was suffering from yearly storms originating in the Atlantic. Now thanks to accurate data analytics and predictions, the suffering has drastically reduced.
In product upgradations
The markets are constantly changing under variable demands. Human beings change and so change the demands. A data analyst with data analytics certification can easily figure out the demands and act on the same. A product must be upgraded at all times if its relevance is to be preserved. And the upgrades should be aligned with demands from consumers. A product aligned with customer interests is the product that might witness success and retain the much-needed relevance for sales.
In marketing
All kinds of purchase and investment data are available for the grab, that too in an ethical manner. Data analysts dealing with marketing can easily use this huge volume of data and figure out the purchasing patterns and investment habits of entire consumer populations. Thus the marketing campaigns of our times can ci centre on specific customers and clients who can and are willing to invest for the same. Preciseness and resource effectiveness are key in this case for ensuring success and data are helping to make things easier in the sector.