Data Analyst Salary, Roles & Responsibilities
Increasingly, companies in all industries depend on data to make crucial business decisions – to develop new products, enter new markets, make new investments, and target new (or existing) clients. They also make use of data to discover inefficiencies and other business issues.
In these organizations, the task of the data analyst is to provide a numerical value to these crucial business functions to evaluate and compare the performance over time. An analyst must also be able to use data to make informed business decisions.
These roles are highly sought after. IBM has forecast that more than 2.7 million job opportunities will come up for professionals with data skills by 2020, with about 40% of jobs requiring a Master’s Degree or greater in advanced data analytics. If the role of a data analyst suits you well, let’s know who a data analyst is, job roles and responsibilities, and data analyst salary details.
What is a Data Analyst?
A data analyst interprets and transforms information into usable data that can provide strategies to improve a company and thereby affect business decisions. Data analysts collect data from different sources and identify patterns and trends – the job description of the data analyst should emphasize the analytical nature of the work. After the data collection and processes, the data analyst will report what was found in an extensive investigation to more general companies/relevant colleagues.
Role of Data Analyst
Data analysts have a different role from company to company. It is highly domain-specific and depends on the type of data to evaluate. In short, the role of a data analyst is to analyze, interpret, model, and transform data into a format that individuals who want to work on the data for a specific reason can understand. The job of data analysts will assist companies across all industries. The data analysis helps practically all marketing and financial elements, from medicine, IT, tourism, and retail to fast-food franchises. Data analyst provides insights that are incredibly useful to employers who need to know about their consumers and end-users.
Some of a data analyst’s primary responsibilities are as follows:
- Setting corporate objectives and data assets
- Databases and data system creation and management
- Digging and interpreting data from qualified sources for stakeholders, customers, and owners.
- Upgrade and improve existing reporting systems.
- Develop appropriate techniques and practices for beneficial results
- To develop complicated business inquiries and data mapping approaches
- To carry out regular consumer behavior analyses on the most recent updates and trends
- Enhance your analysis method through interaction and communication with other team members, such as engineers, corporate executives, and programmers. It brings a new viewpoint to a problem you may lack.
Data Analyst Salary in India
With the increase in data considerably more than in past years, the demand for a data analyst has improved. There could therefore be a good salary start in India for a fresher. The salary of a data analyst depends on several criteria, such as experience, skills, location, and the business.
The data analyst salary structure could vary from ₹342,363/yr to ₹1,750,000/yr. An Indian data analyst with 1–4 years’ experience has a gross income (including gratuities, bonuses and overtime) of ₹3,96,128, but for a mid-career data analyst with 5–9 years’ experience has upto ₹6,03,120 based on the firm and job location. And you can make an average total compensation of ₹9,00,000 for mature and experienced data analysts who have been in the sector for 10-19 years.
78% of analytical experts in India are at 0-6 Lakhs in their entrance levels. Still, because the number of freshers in Indian data analysis has increased, this is a positive indication of the industry’s maturity. In India, the salary of a Data Analyst is affected by various factors, including location, abilities, experience, and enterprise.
– Salaries are still consistent at 8.7 Lakhs for 4–6 years of experienced candidates.
– For the senior data analyst with a strong background of 12 years or more, there was a 20 percent salary increase last year.
Worldwide, firms are valuing analytics and their potential for shifting market trends comprehensively. They are prompting decision-makers to spend on technology, people, and processes more and more. It led to the transition of data analytics from IT and finance to most corporate operations. As per the U.S. BLS, the growth of data generation and the requirement to refine and draw meaningful insights are expected to be faster than the average of 19 percent from 2014-2024.
The average Data Analyst salary in India, according to experience, is as follows:
- Entry-level: ₹325,616
- Mid-level: ₹635,379
- Experienced: ₹852,516
Bangalore has the most significant employment possibilities and India’s annual data analyst salaries for data innovators. The Silicon Valley in India has a 19.2% higher salary than the average of the nation. Gurgaon and Pune provide 9.8 percent and 9.5 percent better than the national average. Mumbai, Hyderabad, and New Delhi data analysts get 5.2%, 4.8%, and 2.8% lower than the national average correspondingly.
- Accenture: ₹495K
- TCS: ₹443K
- EY: ₹413K
- Genpact: ₹350K
- HSBC: ₹683K
- People familiar with Python could get a salary of ₹10 Lakhs per annum in India.
- The data analyst salary in India is 26% higher than in just one region if you are experienced with Big Data & Data Science.
- SPSS specialists can make approximately ₹7.3 lakhs, and SAS experts earn between ₹9 to 10.8 lakhs.
- The salary of machine learning in India may grow up to 17 lakhs per year. It’s one of the highest you can acquire in this industry if you understand ML and Python.
- The annual average data analyst salary in the US: $66,000
- The average yearly data analyst salary in the UK: £26,000
It can be lucrative to work as a data analyst. Tech talent is generally lacking. As a consequence, organizations have to provide substantial pay to attract candidates because demand outweighs supply. Data analytics’ opportunities are now mostly available in India. In the end, this works for you, especially as you gain experience along the way.