All fields of analytics share the basic principles of analytics for sure, but depending on which path the analyst chooses to pursue, their career prospects, market demand, fields of work, and the work itself will vary quite widely. To provide aspiring analysts with an idea of what they can expect from either of the two fields, here is a brief introduction to four main differences that separate business analytics from data analytics.
The Difference in Technique and Application
Data analytics is widely considered to be a much more technical job than business analytics since the data analyst’s direct involvement in the following is crucial to the job:
A business analyst, on the other hand, gets directly involved with the company’s regular business model, to make every process more functional and cost-effective. Some of the work which they are hired for will include:
Differences in Academic Background
Senior data analysts with the experience and right qualifications would often be called data scientists, because of the critical research they do for their respective employers. Their technical work needs a solid background in subjects such as the following:
The business analysts too shall benefit greatly, if they have an academic background, or at least a strong base in math, stat, and coding, However, business analysts do not necessarily have to have such backgrounds. A majority of them come from fields such as:
The Difference in Job Prospects
As Suffolk University Online points out while discussing the differences in job prospects for students of business analytics vs data analytics, there doesn’t necessarily have to be a difference at all. Check out the website to know how the right analytics program can help you take up any of the two roles in the future, or even change paths mid-career to the one that suits your expertise and educational background more.
The Difference in Pay
According to PayScale, the average salary of a data analyst is $60,284 per year in the US. On the other hand, the mean salary of a business analyst is roughly $68,820 per year. Therefore, the difference is not quite significant, but most certainly present. In spite of the data analyst being more technically sound in their education, qualification, and work, they do earn less than business analysts on an average.
The job of the analyst is a complicated one, and unless someone has the aptitude to do the job, they are unsuitable for the profession. In order to succeed in business or data analytics, the professional must be proficient in seeing patterns, organizing data, and predicting outcomes naturally.