With the digital landscape not showing any signs of slowing down, data and information has become an increasingly important component for large and small businesses alike. In fact, you could even argue that, for a modern company, data is the most influential, not to mention most valuable, asset.
However, despite its important role in modern business operations, data would be nothing without organisation and analysis. This is where data analytics and transformation comes in – or more specifically, data analysts. A business data analyst transforms unorganised data and statistics into a forward-thinking strategy grounded in real-time information. Essentially, employing the assistance of a data analyst can help your business create campaigns and make data-driven decisions.
So what is a data analyst? And what is data analytics anyway?
What is data analytics?
Data analytics is the act of gathering and analysing data in order to make data-driven decisions. However, contrary to popular belief, data analytics is about more than just gathering and analysing numbers. It’s the activity of discovering and tracking in order to come to data-driven conclusions which for a modern company is hugely beneficial when considering marketing campaigns and other crucial business strategies.
Data analytics is now commonly performed on behalf of corporations and organisations by data analytic companies in order to shape their future strategies. Other businesses opt for an inhouse data analyst.
What is a data analyst?
As the name suggests, the role of a data analyst is to analyse important information and statistics on behalf of a business. A data analyst aims to identify patterns, trends and opportunities within collected data and utilise the found information to improve a business’s operations and strategies. As the amount of data being generated and retained globally has exploded in recent years, data analysts are often assigned to a specific area of a business, such as customer service or supply chain management.
The benefits of a data analyst
Data analysts are usually hired inhouse or through a data analytic company. The importance of a data analyst is characterised by his/her inherent potential to provide businesses and organisations with emerging insights and trends.
As a result, a data analyst is a hugely valuable tool for defining target audiences. This is especially important in marketing and advertising. In essence, a data analyst gives businesses the opportunity to discover emerging target audiences or learn more about existing ones. In turn, this allows businesses to develop hyper-targeted tactics and strategies that are based in real-time data and information.
Other benefits of hiring a data analyst include the opportunity to:
- Streamline your goals – A data scientist can analyse your data and use it to help you run your business more efficiently. Data analytics may help you better further define your business goals, nurture growth and improve your ROI (return-on-investment).
- Identify emerging trends – Even veterans of the business world should look for new opportunities and ways to streamline the day-to-day operations of their company. One of the primary benefits of employing a data analyst is having someone actively looking for new opportunities, patterns and trends.
- Quantifiable data – By utilising a combination of quantifiable historical information and real-time data, data analysts can predict patterns before they happen and shape strategies accordingly. This allows large and small businesses alike to determine the best course of action when it comes to making decisions.
- Create data-driven strategies – Given the vast amount of data being generated and retained around the world, modern businesses require a process in which they can collect and analyse data in order to acquire meaningful insights with efficiency and accuracy. A business data analyst can assist both large and small businesses alike to make better, data-driven decisions when it comes to their long-term strategies and goals.
Does my business need a data analyst?
Data analytics has become increasingly sought after in recent years as a means of acquiring a competitive advantage over other businesses.
Data analytics and transformation can give your business a much needed boost by improving efficiency and nurturing growth. Other benefits include the capacity to fine-tune marketing initiatives with a data-driven, customer-centric perspective grounded in real-time information, as well as the intrinsic ability to respond faster to new industry trends and patterns.
How can I find a data analyst?
To find a data analyst these days, most businesses are turning to data analytic companies. In a nutshell, a data analytic companies exists to analyse data – hence the name. The goal of a data analysis company is to unearth that data before collecting and analysing patterns and trends.
Data analytics services are typically performed on behalf of a customer, such as a company or business, who seek to improve the effectiveness of their own initiatives and campaigns. There is a variety of types of data that can be analysed, from historical data to real-time analytics that process data as it’s collected.
Data analytic companies use analytics, reporting, and business intelligence tools to give actionable information to their clients. The data gives crucial insights and performance indicators to both large and small businesses alike, allowing them to identify patterns in client behaviour and streamline specific tactics and campaigns.
Final thoughts
So what is a data analyst? And what is data analytics anyway?
As the digital world continues to evolve, data has become an increasingly integral component for both large and small businesses alike. In fact, one could argue that data is a modern company’s most valuable, if not most important, asset.
This is where data analytics and transformation, specifically data analysts, come in. Data analysts can transform unorganised facts and statistics into forward-thinking strategies grounded in real-time data and emerging trends.
Looking for a data analyst? Look for a data analytic company near you. Data analytic companies use analytics, reporting, and business intelligence tools to reveal crucial insights and performance indicators to both large and small businesses alike, allowing them to identify patterns and streamline specific campaigns and strategies.
Despite its importance, data would be worthless without organisation and analysis. Essentially, hiring a data analyst can assist your company in developing future-proof strategies and making innovative, data-driven decisions.