Data is revolutionizing the way we interact with various systems, every day. Be it your Google Home, Siri, Alexa or even you browsing your Instagram, it’s all a by-product of data analysis. Such is the power of data science and its applications in the near future. No wonder the jobs and data related roles are growing by leaps and bounds. We will try to understand the various roles in depth and what is their market value.
The job of data analysts is to use the available data to answer the various questions arising out of various customer touchpoints, and connecting the solutions to arrive at business decisions. They are also called business analysts in many organisations for the same reason. A data analyst helps the company makes logical and data-driven decisions. Mostly entry-level, these professionals have excellent command over technical tools and use their data analysis to answer questions like which is a better demographic to sell this product, what parameters to be thought about before the next marketing campaign, how can a company grow, etc. A lot of decisions previously had been taken on gut and guesswork. That scenario is now changing with an outburst of data which the analysts take into their control and do the complex job of deciphering it. The most common tasks a data analyst does in most companies are: cleaning the raw data and organising it, using statistical measures and tools to segregate and understand the data, discovering a trend in the data, creating a visual representation technique in order to lay out the data in front of others etc. A data analyst will earn an average of INR 1,70,000 - INR 3,60,000 per annum depending on experience.
A data engineer builds the systems on which the analysts and scientists work on. A lot of organisations depend on data heavily, hence the need for accuracy and accessibility is high. A data engineer precisely does this: he ensures that data is received, segregated, transformed, processed, stored and made accessible to others. They often use complex tools and techniques to do the same. The presence of data engineer simplifies things for the data analysts and scientists because they don't have to worry about shifting data from one place to another, but rather only focus on their analytical problems. A data engineer needs to comfortable with creating, building and optimising data structures and systems. Their day to day duties involve, building APIs for data integration and consumption, integration of new data into existing sources and continuous monitoring and testing of systems to ensure optimised and bug-free performance. The average pay for a data engineer ranges from INR 3,00,000 - INR 8,00,000.
A data scientist is an expert in statistics and machine learning and uses his expertise to make predictions and gather solutions to vital business problems. A data scientist needs to know to analyse data like a data analyst, but a deeper knowledge in the optimisation of these techniques and machine learning is required. A data scientist is of immense value to the organisation because of his knowledge of algorithms and statistical tools and techniques. They are trained to uncover insights which are hidden deep in data. Their duties involve using machine learning and statistics to evaluate and predict algorithms from data, improving the accuracy of the machine learning models being used and creating visualisations to conclude the data information. A data scientist gets paid around INR 6,00,000 - INR 12,00,000 depending on the knowledge and expertise he possesses.