Top 5 Industries Hiring for Data Analyst Jobs

Introduction

The data analyst job market is projected to grow 23% from 2021 to 2031 (source: discoverdatascience.org).
With more and more organisations utilising data to improve their business operations, the demand for skilled data professionals - especially data analysts- has soared to new highs. This rising demand has generated thousands of data analyst jobs worldwide. Nearly every industry is hiring data analysts, assuring generous package and excellent career growth. In India, based on location and experience, a data analyst can earn between INR 8 to 12 LPA annually.
The blog sheds light on the major industries that are offering growing data analyst job opportunities. You will also find insights on the best companies for data analyst positions.

Is There A High Demand For Data Analyst Jobs?

According to the U.S. Bureau of Labor Statistics, the data science industry will generate 36% more jobs by 2031. There are two major factors that are driving the demand for data analysts.

• Data Explosion
• More focus on data-powered decision-making

Also, since data analytics is a relatively new profession, there is a scarcity of skilled data professionals.
The skill gap has further accelerated the demand for data analysts across various industries.
Coming to India, more than 90,000 data analyst job positions (source: Education Times) are lying vacant, creating over 40% increase in jobs in the job market.

Which Industries Are Hiring Data Analysts?

Everyone - from startups to Fortune 500 giants - is hiring data professionals for processing and analysing raw data to extract valuable insights for operations. Here are some of the high-paying industries for data analysts:

1. Business intelligence

Business intelligence is among the top four industries hiring data analysts - so much so- that around 25% of the total global job posting for data analyst roles comes from this sector.
Role of data analysts in BI: BI data analysts mostly work on knowledge management, collecting and storing data, and data analysis for evaluating and transforming big data into actionable insights. This collected information can be later used by companies to shape business strategies and other important decisions.
Top companies hiring: TCS, Dell, Thomson Reuters, Amazon, and Netflix


2. Healthcare

Surprisingly, the healthcare industry that relied on legacy data systems is now hiring data analysts for managing and reviewing their data. Although the adoption rate is slower than in other sectors, the early birds are benefitting heavily from their data science resources.
Role of data analysts in healthcare: Apart from managing patient records and sorting huge clinical data- a data analyst in the healthcare industry can help in managing resources and analysing patient behaviour. They also assist in tracking the overall performance of the physicians.
Top companies hiring: CVS Health, United Health, Deloitte


3. Finance and Banking

Finance was among the first industries to utilise big data for advancing their business operations. Finance companies like investment banks and venture capital firms use data analytics to conduct risk assessments, spot trends, inform investment decisions, and make predictions.
Role of data analysts in finance: The finance industry data analyst roles deploying advanced modelling techniques to assess and manage financial risks and prevent fraud. Additionally, they analyse the financial data and market trends to support investment decisions for their respective clients.
Top companies hiring: HSBC, Barclays, Bajaj Finserv


4. Retail

For the retail, data analytics plays a crucial role in understanding consumer behaviour and improving marketing and sales strategies. Retailers are eager to collect customer information to gain insights that can boost revenue.
Role of data analysts in Retail: Data analysts support the retail portals with highly valuable customer insights that they can use to enhance marketing, sales, and pricing strategies. They analyse purchasing patterns, conduct market research, and help to optimise supply chain logistics. In other words, data analysts play a crucial role in improving the overall business performance of the retail sector.
Top companies hiring: Amazon, Flipkart, Reliance Trends


5. Entertainment

With streaming services taking over by storm, the entertainment industry is leveraging big data to drive its growth. Data analysis in the entertainment industry helps sort and analyse customer data to offer better streaming recommendations and improve product offerings. Additionally, it helps in analysing the customer’s view data to highlight most promising shows in the future, test advertising, and improve user experience.
Role of data analysts in Entertainment: In the entertainment industry, data analysts utilise data to gain insights into audience preferences, consumption patterns, and content performance. They analyse viewer data, social media trends, and market research to inform content creation, marketing strategies, and decision-making. Data analysts help optimise content distribution, target specific demographics, and enhance overall audience engagement in the entertainment sector.
Top companies hiring: Netflix, Hotstar

Wrapping up

The global job market is flooded with highly lucrative data analyst job opportunities.
Are you too aspiring to be a part of the analytics bandwagon and build a shining career in the data domain? Sign up with DataSpace Academy’s highly sought-after data analytics courses online or offline. Backed by highly qualified and seasoned mentors, the course includes both theory classes and practical project practice sessions. Apart from that, after completing the course, the placement cell assists students in landing jobs as well.