Businesses continue to harness the power of data to derive insights and inform strategies. This has increased demand for analytics professionals at both entry and managerial levels and pushed up salaries, according to the newly released IAPA Skills & Salary Survey 2017.
An entry-level analyst earns around $72K, while the top 10 per cent starts at $235K.
Although technical skills remain at the core of requirements, the growing demand for analysts presents a great opportunity for people with the right temperament to move into the field.
While we are seeing an increase in understanding of how analytics can benefit company decision making, there is still some way to go to help business people understand the output and how best to use the insights. It is far easier to have those that understand the technical aspects to up-skill to be able to share those insights in a meaningful way.
On the supply side, the analytics field has seen 108 per cent increase in demand for soft skills including communication and influencing.
Also in high demand on the supply side are change management and business leadership and engagement skills, so anyone with existing skills in these areas will be highly sought after.
Analysts who need to improve how they share their insights should focus on developing these soft skills and seek to understand the business units they support.
IQ is in the process of building a new course specifically aimed at helping analysts increase their skills in these areas, so keep your eyes peeled for more information.
In the meantime, we currently offer an array of courses to help analysts understand the departments they work closely with. Get started on extending your skills with our Digital Marketing Essentials course.
Not in analytics…yet?
If you have the soft skills already and are thinking of changing careers, becoming an analyst could be a great career move.
Our Analytics Certificate is custom made for people to understand the basics so they can switch careers - in particular, IT professionals and engineers have a great opportunity to extend their capabilities to improve their employability and earning potential.
Read the IAPA Skills & Salary Survey 2017 for more insights on the industry.