Startups and especially SaaS (Software-as-a-Service) companies are beginning to rely heavily on data analytics and business intelligence to make astute industry decisions. Likewise, new waves of smart, talented and enthusiastic graduates are looking towards data analysis as a viable future with an upward trajectory.
Regardless of which market one might consider entering or even which country after studying is completed, the necessity to consistently and precisely analyse a company’s data stream is growing fast.
Hugely advantageous software tools to measure KPIs (Key Performance Indicators) are on the rise. A developing startup themselves, Berlin-based company datapine and their KPI dashboard tool are giving more power and implementation to data analysis than ever before. The visualization of data through a mixture of informative charts and graphs is exceedingly becoming a requirement for companies to accurately track and assess KPIs.
Data analysts are implementing the accompanying visual software to examine data, such as for instance, the amount of people who take advantage of a free trial from a company, and then the amount which follow through to become paying customers.
Similarly as important, analysts who crunch MRR (Monthly Recurring Revenue) data can visually showcase this vital information in the most clear and precise way possible with the supporting software.
Forbes recently looked at whether a role as a data analyst was more about longevity than a quick fad, coming to the conclusion that all the data in the world was more or less impractical without having the proper means to showcase and understand this data – resulting in knowledgeable and smart executive decisions down the line.
In fact, it was also touched upon that while a maths and science graduate with engineering, IT and technology skills would flourish in such a role, the ability to assess, analyse and deliver data can be taught, provided they are given the necessary tools and training.
Overall, the awareness that there is masses of data, more being accrued every day, waiting to be evaluated and eventually turned into practical business resolutions, should be more than enough of a call-to-arms to bright young things looking towards a professional future in technology.