Data Analysts have the opportunity to work in several different domains or sectors, for example as banking data analysts, retail data analysts, telecommunications data analysts and as marketing data analysts.
The marketing data analyst role is one of the more common ones and a marketing analyst may be found analyzing databases of prospects, leads and customers for the marketing department.
In this post, we will take a peak into the day of a marketing data analyst…
Microsoft Excel is commonly used for data analysis because it’s part of the popular Microsoft Office Suite and it even comes pre-installed on some computers!
Unlike statistical analysis packages like, SAS and SPSS, Excel is relatively inexpensive and widely accessible to small businesses and mid-sized businesses in a variety of industries including healthcare, finance, sales and marketing etc.
Microsoft Excel is used in organizing and analyzing data, performing complex calculations as well as creating graphical displays.
Microsoft Excel’s user-friendly interface makes data entry convenient and it also comes loaded with a wide array of mathematical, statistical, financial functions and a Data Analysis ToolPak.
According to projections by IDC (a well-known research firm), the amount of computing, web and digital data will increase fivefold by 2012 as a result of an upsurge in sensor signals, surveillance tapes, social network chatter, public records and more.
The increases in availability and storage of corporate transactional data within the last decade has left companies scrambling for data analysts trained in interpreting or making inferences based on data.
With the help of data analysts, companies can improve the speed and quality of their business decisions, manage risks better, predict the likelihood of favorable or unfavorable outcomes or provide their management team with improved predictive business intelligence.