4 Reasons to Pursue Your Graduate Studies in Data Analytics

The power of data has revolutionized every single industry today. It has facilitated extensive market research, market gap identification, profitability increase, and even customer base expansion. With around 2.5 quintillion bytes of data being generated by internet users daily, big data is here to stay for a long time, and businesses will continue to use it to their advantage.

As per research conducted in 2020, every person generates about 1.7 megabytes of data in just a second. However, this raw data form must be converted into impactful insights that businesses and individuals can use. This is where data analytics comes in.

Data analytics or data science professionals act as a bridge between raw data and insightful solutions. They collect the raw data, organize it into information, and structure it to make it worthwhile for industries. With data analytics being a booming field in today's world, you can enjoy exponential benefits by pursuing your graduate studies in data analytics and entering this market. If you are an already working professional, you can continue your studies through an online master of analytics alongside your day job. Here are a few reasons why pursuing your graduate studies in data analytics is worth it:

1.    High Demand

Data models are now used across healthcare, technology, and even education policymaking. All departments across any organization, including the financial department, human resources, and operations, use structured data to evaluate the results of their department against the pre-set goals.

This has increased the demand for data professionals with practical skill sets that benefit organizations. In fact, there was a 256% increase in data analytics job openings in 2019. The U.S. Bureau of Labor Statistics also predicts exponential growth between now and 2029.

2.    Versatile Skill Set

A graduate degree in data analytics teaches you mastery of programming languages like  Python, R programming, and SQL. It also helps you dive into machine learning, data visualization, and data-driven solutions. In essence, you will learn the skills to collect, combine, and analyze various data types and identify trends within the data sets to predict the changing demands. This degree enables you to acquire a practical skill set that aligns with numerous industries' practical needs.

Data science is a field where most career opportunities are reserved for those with advanced degrees. According to KDnuggets, around 88% of data scientists hold a master's degree in this field. Pursuing your graduate studies in data analytics will help ensure that you are eligible for these career options and have the advanced skill set required for high-paying jobs.

3.     High Salaries

Graduate-level education in data analytics enables you to be a top candidate for high-salaried jobs in the data science field. The growth prospects are exponential for data science in terms of salary and job title. Per Salary Expert's research in 2020, the average salary of a data scientist was $114,012, with a growth rate of 10% over the next five years.

The 2021 Robert Half Technology Salary Guide segregates hiring employees into groups of 25th, 50th, 75th, and 95th percentiles based on salary and job titles. Candidates move to higher percentiles as they move up the corporate ladder in this field, and the salaries increase accordingly. The highest-paid data scientists are in the 90th percentile, with average wages of over $150,000 annually.

4.    Impactful Careers

Working with data sets and models and structuring them can be complex but rewarding. Job satisfaction is one of the fundamental requirements for maintaining a sustainable career. As per the Glassdoor report, data science jobs are among the best 50 jobs in the United States of America. In the same report, data scientists were also ranked among the top 17 jobs in the United States that make over $100,000 annually. Data science professionals can work across various industries to create a tangible impact, like using it in healthcare and education.

A master's program in data analytics will provide you with an experience that will pave your path to a meaningful career, which is challenging yet fulfilling. The work-life balance in data science is also possible, as most data scientists work 40 hours a week, leaving them plenty of time outside work hours for family, hobbies, or traveling.

Endnote

Data is an emerging field, and career opportunities are exponential. A career in data can ensure your employability due to the soaring high demand for data professionals, stimulating work environment, and a job that helps you achieve tangible impact. You will also benefit from increased salaries and equity benefits in big tech companies and enjoy the perks of remote work in this field.

Pursuing your master's in data analytics through an online program allows you the flexibility to balance between your regular job and higher education. It also enables you to pivot your career into the niche of data analytics, regardless of your previous major.

Make sure you go through the course outline of your data analytics degree and compare the structures of your available options before signing up for the degree. This will ensure that you choose the course that helps you maximize your skill set and teaches all the relevant programming languages required in the job market.