As the world moves further into the digital age, data analytics is increasingly becoming a key element in shaping a company’s business strategy. Today, data influences every decision made by an organization, and this is driving the wide-scale adoption of data analytics, including machine learning technologies and artificial intelligence solutions. The heightened focus is propelling a surge in data analytics spending, reflected in various studies conducted by leading market research firms. A recent survey shows that the global market for data analytics will grow from USD 49 billion in 2019 to USD 77.64 billion in 2023, at a compound annual growth rate of 30.08 percent.
Another study by Valuates Reports, cited by prnewswire.com, forecasts that the market for data analytics will reach USD 512.04 billion by 2026, at a compound annual growth rate of 14.80% between 2019 and 2026. The data analytics market is booming, and with that, the demand for professionals with the right skills is soaring every day. A BHEF (Business-Higher Education Forum) report shows that over 70% of CEOs in the United States prefer candidates with data analytics skills.
With salaries ranging between USD 90,000 to USD 126,000, data analytics is not only the hottest IT job, but it is also one of the best-paying jobs in the world. If you are planning to pursue a career in data analytics, this is an ideal time to learn the skills that will prepare you for the future of business, where business analytics features prominently.
This data analytics beginners guide will acquaint you with this emerging field, providing an insight into the data analytics basics, its industry applications, real-life use cases, key terminologies, the skills you must master, and the best course to take to land an exciting job in this field.
