4 in-demand career options in machine learning and big data analytics

New-age technologies have changed the way businesses operate and have enhanced their productivity by enabling them to successfully leverage data. Technologies such as big data analytics and machine learning (ML) have a crucial role to play in this context. However, in a bid to successfully utilise these technologies and have a competent edge, enterprises require skilled professionals who can efficiently cater to their needs.

As a result, there is a huge spike in the demand for big data analytics and ML professionals in management in different sectors and industries. However, to pounce on these opportunities, an individual needs to be skilled and educated in the respective field, along with strong management qualities. Now, let us delve into some of the promising and lucrative career avenues in these domains.

Ashok K Harnal, Professor of Information Technology, FORE School of Management has shared some promising career opportunities in ML and big data analytics in management:

1. HEALTHCARE DATA ANALYST:

Two of the industries with the fastest job growth in India are healthcare and technology. An occupation as a healthcare data analyst sits at the confluence of these two fields.

An individual who employs data analytics to enhance the outcomes of healthcare is known as a healthcare data analyst. Healthcare data analysts improve patient care, streamline healthcare operations, and evaluate the effectiveness of healthcare organisations by collecting, combining, and analysing data from various sources. They primarily focus on the administrative side of medicine, which calls for extensive knowledge.

2. HUMAN RESOURCES ANALYTICS SPECIALIST:

HR analytics specialists are crucial to any organisation because they analyse data and recommend ways to enhance internal procedures. They are the experts who examine data and statistics about a company's workforce. They give businesses details about their workers, such as information on performance, pay, and benefits.

The role of HR analysts is crucial to a company's expansion because they can help a business become more profitable and run effectively. An HR analytics expert also handles interactions between the business and employees, making sure that everyone is on the same page and that business operations are efficient.

3. MARKETING ANALYTICS MANAGER:

To develop strategic procedures to enhance the company's brand image, a marketing analytics manager must analyse the effectiveness of marketing campaigns based on performance indicators and market trend statistics. They also identify business opportunities by researching current customer demands to increase revenues and profitability.

Additionally, they create strategies for cutting costs by negotiating with dependable vendors and suppliers who have access to top-notch resources and materials for production. A marketing analytics manager needs to be very good at organising and communicating, especially when it comes to tracking sales data and putting strategies into practice to increase employee productivity and efficiency.

4. BUSINESS INTELLIGENCE ANALYST:

The requirement to use data to advance organisational goals has increased the significance of business intelligence (BI). In addition, there is a growing need for effective business intelligence analysts. The primary responsibility of a business intelligence analyst within an organisation's overall business intelligence system is to act as a vertical link between departments to convey highly valuable information in support of decision-making needs.

A business intelligence analyst is also in charge of tracking and extracting useful insights from the KPIs (Key Performance Indicators) that the management holds. These insights subsequently affect vital business decisions.

ALL THINGS CONSIDERED

Big Data and machine learning (ML) are without a doubt becoming buzzwords and a growing demand for organisations today as technology advances. Fortune Business Insights estimates that the market for big data analytics will grow from USD 271.83 billion in 2022 to USD 745.15 billion by 2030.

Similar to this, the global Machine Learning (ML) market was valued at USD 19.20 billion in 2022 and is anticipated to grow at a CAGR of 36.2 per cent to reach USD 225.91 billion by 2030.

This data effectively proves that new career avenues will emerge in the markets of a myriad of industries shortly. However, in a bid to get lucrative career opportunities, candidates must combine technical knowledge and business acumen. In addition, they also require educational qualifications that improve the chances of career progression. In this regard, students can pursue a PGDM (Post Graduate Diploma in Management) in Big Data Analytics to improve their knowledge and skill sets.

This will allow them to be well-prepared to meet the challenges provided by the increasingly technologically driven business environment and also get lucrative career opportunities.