Basics of Career

Roles of Data Analyst in Different Industries

Introduction

A data analyst is one who collects the data, cleans it and interprets the data sets in order to answer a question and solve business related problems. They serve as a gatekeeper for an organization’s data so that shareholder can understand the data and use it to make a strategic business decisions. They work in many sector like business, Finance, Criminal justice, Science, medicine, Government.

Types of Data Analyst in Different Industries

  1. Medical and Healthcare Data Analyst
  2. Financial Data Analyst
  3. Ed-tech Data Analyst
  4. Production Data Analyst

Healthcare Data Analyst

Healthcare data analyst collects the data, stores it and analyzes that data to extract useful insights from that data, which helps the healthcare industry to grow using their programming knowledge. With their analysis skills they help to identify and resolve problems of the healthcare industry. They get data from electronic health records to identify problems and provide solutions to the industry.

Roles of a healthcare data analyst

  1. Collection and Interpretation of data: Their job is to collect the data and interpret that data which is extracted from multiple sources like cost reports, Electronic Health Records(EHR) with the help of big data and its applications.
  2. Understanding Functionalities: They have to understand how the hospital functions and its systems to support the decision-making process.
  3. Database Management: This includes collection storing retrieving and securing the healthcare data.
  4. Data Visualization: Creating reports and dashboards to deliver the required information to the stakeholder in the healthcare sector.

Responsibilities of a Healthcare Data Analyst

  1. Preparation of Reports: Their job is to prepare accurate reports on the trends in cost evaluation, customer service, and billing.
  2. Research and Evaluation: They research and evaluate the data from different sources to identify patterns.
  3. Presentation of Data: They present and explain the status records to the management.
  4. Recommendation of Improvement: Their role is to recommend ways too improve their healthcare quality and minimize costs.
  5. Working with superiors: They have to work with management and other departments to implement and evaluate the development.
  6. Perform regular site visits to evaluate operations and cost of healthcare platforms.
  7. Prepare and organize policy guidelines, public hearing testimonies, presentations, and petitions.

Skills Required to become a Healthcare Data Analyst

  1. Excellent analytical and mathematical skills: Being a Healthcare Data analyst your job is to interpret data , Detect Patterns and make decision based on that pattern for this you need strong mathematical and analytical skills.
  2. Time Management abilities: Since a lot of data is accumulated from different sites so having good time management skills is really helpful.
  3. Strong knowledge of data management systems and analysis tools.
  4. Data Management system and Analysis tools: One should have a strong knowledge of data management system and analysis tools.
  5. Outstanding communication and presentation skills: Every data analyst should acquire this skills.

Financial Data Analyst.

A financial data analyst prepares financial reports that serve as summary information for managers. A financial data analyst is responsible for collecting the data, analyzing it, and presenting that financial data to the superior with the help of visualization and dashboards, helping the organization to make an informed decision.

Roles of a Financial Data Analyst

  1. Preparing Reports: A Financial data analyst prepares financial reports that serve as summary information for managers.
  2. Data Visualization: A Financial Data analyst identifies the relevant insights and compiles analytical reports that enable other employees to make informed decisions.
  3. Data Forecasting: They have to predict and research financial trends and should have a good prediction of the future to prepare a good financial data report.
  4. Collection of information: They may be required to compile information about the prices of mutual funds, stocks, and bonds that may serve as valuable information for the firm.

Responsibilities of a Financial Data Analyst

  1. Data Visualization: They create and maintain spreadsheets and dashboards to generate insights from the data and put that data into the financial model.
  2. Data Forecasting: They have to create and develop a financial model that supports forecasting, planning, and prediction of the financial outcome of the business.
  3. Suggestive Approach: They should create an approach to improve the performance by analyzing the financial results, trends, forecasts, etc. 
  4. Research the Markets: They have to research live markets to compare the financial analysis of the competitors with our financial analysis. 
  5. Technical Knowledge: They should have a good technical knowledge to quickly adapt to the market change.

Skills Required to become a Financial Data Analyst

  1. Research Skills: Researching is the key for a Finance Data Analyst. Research is needed to validate the data because there is no scope for the analysis without the proper, correct data.
  2. Analytical Skills: Analytical skill means to be able to demonstrate logical thinking. To develop good analytical skills one should require a good database and excel knowledge.
  3. Mathematical Skills: A Financial Analysts requires a lot of mathematical operations on the data. So it is expected to have a strong mathematical skills.
  4. Technical Skills: Financial Data Analysts requires a lot of calculation, and hence a person having good technical skills can solve the problem quicker than manually.
  5. Focused Mind: Financial Data Analysts requires utmost attention as a slight mistake can heavily cost the organization. A wrongly typed amount or inaccurate mathematical function can lead to a balance sheet mismatch, and a slight change in the value can lead to a significant difference in conclusion.

Ed tech Data Analyst

An Ed-tech Data analyst collects the data of the students and helps the teacher recognize and understand the student’s abilities and challenges and facilitates a fixed cultural process that includes information about the student to ensure optimal outputs. (students result)

Responsibilities of a Ed tech data analyst

  1. Interpretation of Data: A large amount of Ed-tech data is collected from different ed-tech establishments. A data analyst’s job is to review and collect that data to find out strengths weaknesses, opportunities, and challenges.  
  2. Upscaling Quality: Their responsibility is to create an interactive dashboard and upscale the quality of the spreadsheet to understand exactly what is the problem and can find a solution to it.
  3. Evaluating Student Behavior: Attending online lectures and workshops enables students to register and allows the data analysts to collect the data to implement Ed tech analysis. This data is crucial to find out what are the types of content that drive more attention and engagement of the students so that further developments are possible.
  4. Knowing the Competitors: Analyzing what the competitors are doing and what is driving their popularity as well as what is the new or extra mile that they are covering. This enhances the performance of the EdTech platform.
  5. Assessing the Software: The crucial role of a data analyst is to be aware of the advantages and disadvantages of the software, and the likes and dislikes of the users while they are using the software.
  6. Shaping Future of EdTech: With the help of analytical information derived from different sources, data analysts can take the Ed-tech establishment to new heights. With this, data analysts can also contribute to applying new trends. These trends lead academicians as well as students to follow advanced ways of learning that can enhance their delivery and knowledge respectively.

Roles of a Ed Tech Data Analyst

  1. Building statistical models: A data analyst uses these data to build statistical models based on a set of parameters that would predict the student’s grade.
  2. Assisting Management Decisions: A Data analyst analyzes the most and least favorite part of the educational institution by the students and allocates budget and resources accordingly.
  3. Intelligent Curriculum: They design an intelligent curriculum that serve a customized learning experience for each student to grasp the same concept in different methods which is suitable to them. 

Skills required to become a Ed-tech Data Analyst

  1. Strong Analytical skills: An Ed-tech data analyst can start from doubtful problem statements, identify and access relevant data, make appropriate assumptions, perform insightful analysis and draw conclusions relevant to the business problem.
  2. Communication skills: He should communicate efficiently in English. He should have the ability to present information professionally & concisely with supporting data.
  3. Working Effectively and Independently: Ability to work effectively & independently in a fast-paced environment with tight deadlines.

Production Data Analyst

A production Data analyst helps plan and execute efficient production flow for the company’s good, data or information. They work to design scheduling and staffing models that provide the best optimization of labor costs, production and volume and efficiency.

Responsibilities of a Production Data Analyst

  1. They are responsible for creating all schedules and required paperwork related to smooth, efficient operation and documenting production result. i.e Packaging, Maps, Production list, Labels, etc.
  2. Develop plans to efficiently use plant staff and equipment to produce the maximum revenue.
  3. Record operational costs and provide reports.
  4. Propose staffing requirements based on upcoming work and historical data and productivity.
  5. Evaluate current operational strategies and recommend improvements.
  6. Provide concise information for daily stand-up deliveries.
  7. Model effective communication, leadership, and, partnership with plants.
  8. Continuously grow and develop your operational knowledge and leadership capabilities by participating in professional development opportunities.

Roles of a Production Data analyst

  1. Analyzation of work: Their work is to analyze customer requirements and set production expectation.
  2. Preparation of reports: Prepare reports concerning downtime, Equipment repairs, and Delays.
  3. Evaluate issues, analyze root causes, and derive solutions.
  4. Data visualization: Monitor and manage the availability of materials, equipment, resources, and electricity.

Skills Required to become a Production Data Analyst

  1. Communication Skills: Data analysts need more than math skills to estimate numerical data, They need to present their findings or translate the data into understandable documents.
  2. Analytical Skills: Data analysts work with a large amount of data facts, figures, and analyses and should have the ability to see through the data and analyze to find the conclusions.
  3. Critical Thinking: Data analysts must look at the numbers, trends, and data to arrive at a new conclusion based on their findings.
  4. Attention to Detail: Data is precise, therefore data analysts must make sure that they are vigilant in their analysis to come to a correct conclusion.

Conclusion

Data Analyst is a wide career and if an individual choose to select a particular field in these following career then these are the roles and responsibilities of different types of data analyst.

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