THE CHANGING ROLE OF DATA ANALYSTS

A data analyst’s job consists of examining data to help companies and organizations make better business decisions. A majority of the data that many analysts are having to deal with has popularly come to be known as “Big Data” for the sheer volume of data sets that can now be mined.

But here’s the main problem facing data analysts today: Big Data is overwhelming.

Although the collection of such tremendous amounts of information allows for more opportunities to gain insights into trends and behaviors, the data is too complex to handle without the right tools and platforms.

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Big Data Market ForecastThe Big Data market, as measured by the sale of related software, hardware, and professional services, has been growing more rapidly than other enterprise IT markets. There was a $7.76 billion increase in this market between 2013 and 2014. This is simply the first indicator of the mounting interest in big data projects within various businesses and organizations.

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The Demand for Data Analysts Within the computer science and marketing industries, there are a wide variety of occupations that have seen a sharp increase in demand for analysts, even within the span of a year. The demand is specifically for analysts with capabilities in data mining, predictive modeling and who are able to create data visualizations.

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The Interest in Big Data ItselfWith the abundance of data on business trends and behavior, challenges remain in capturing, curating, sharing and storing such information. The Information Week 2015 Analytics and BI Survey shows that interest in predictive analytics has increased because of the numerous challenges it can address to help businesses run better.

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Where Big Data Could Have an Impact on OrganizationsBy using business intelligence and Big Data mining tools, companies are able to make informed decisions about their ventures and consumers. According to a 2014 Accenture Analytics Survey, more than 1,000 respondents from companies across seven industries in 19 countries believe that certain aspects of their organizations will be tremendously impacted by Big Data or will at least be within the top three areas to be affected by it.

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Industries Looking Towards the FutureFrom information technology to agriculture, health care to education, nearly every field is relying more and more on predictive analytics to gain insights on their respective industries. More than that, these fields increasingly require data analysts that know and have expertise in business intelligence solutions.

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The changing role of data analysts requires:

Analyzing more data in less time

Integrating data from multiple and varied sources

Providing real-time insights on threats and opportunities for their company

Needing Big Data solutions that can scale to fit their organization

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Solutions that SAP Lumira provides:

Data crunching and processing

Capability to mix and match up multiple data sets

Ability to connect directly to business data and visualize it in real-time

Easily scale to user bases of various sizes with the BI platform

CHALLENGES FOR BUSINESS

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