Focus on the Data Analyst job
The job of a Data Analyst is interesting to understand in finance, and especially in market finance. Indeed, it is possible that you will have to work with data analysts, or even use their analysis for your investments. It is therefore important to know this profession!
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What are the missions of the Data Analyst?
The role of the data analyst is to make data available to the relevant teams. He/she must therefore find, clean and present it so that it can then be analyzed by the portfolio managers (in the context of market finance). To do this, he/she must create dashboards that are accessible to all the company's employees so that they have access to the data in real time.
What are the skills that a Data Analyst must have?
The Data Analyst must have the following skills:
- Rigor in order to provide clean (since they are not always clean) and usable data
- Open-mindedness since the Data Analyst must be able to keep an objective mind when analyzing data. Indeed, it is possible to have certain expectations when analyzing data, and that these expectations turn out to be false and are completely disproved by the data. It is therefore necessary to be able to see these elements and accept them
- A good analytical mind, since a large part of the job is to extract information from the tens of thousands of data one has access to
What tools does the Data Analyst use?
The Data Analyst must master certain computer languages, such as SQl or Python. They allow searches to be made in databases, which greatly facilitates the work of Data Analysts. Then, there are specific tools for each field: Google Analytics for marketing departments, Content Square, etc.
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The salary of a Data Analyst
The salary of a Data Analyst is between 30 and 35K before taxes per year as a junior. With a few years of experience, the salary can go up to 50 or even 60K€ annually. Data Analysts then receive bonuses depending on the company's financial results.
The difficulties of the Data Analyst job
The difficulties of the Data Analyst job lie in the quality of the data itself since it is not always clean nor usable. It is therefore necessary to look for proxies in order to be able to find a proxy that allows the analysis to be carried out. It is therefore necessary to accept to work « close enough », even though this is a job where precision is important. Knowing how to combine the two requires patience.
Finally, it is necessary to remain pragmatic during the analyses. It is important to have an intuition at the beginning of the study but you must not let yourself be led by this intuition which could wrong your judgment.
The evolution perspectives of the Data Analyst job
We distinguish two types of possible evolution for a Data Analyst:
- A vertical evolution, that is to say becoming manager of a team of Data Analysts
- Horizontal evolution, which means remaining a Data Analyst but specializing in a specific field in order to develop a real expertise
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