If you are someone currently working in the IT industry and want to take your career to the next level, this post is absolutely for you. And, especially, if you are still in two minds to choose whether you should go for business analytics or data science.
Here is a comparison between these two lofty careers, in brief, to help you decide your next move. Let’s get started!
What is Data Science?
In the 21st century world, data science has been a buzzword. Data science is a field that includes statistical techniques, technology, and big data to identify, prepare, extract, analyze, maintain and visualize different types of information. It is a cross-subject of mathematics, computer science, and statistics that is why its area is vast.
The massive increase of data all over the world needs to be managed, analyzed and stored safely. A data scientist manages all these things and develops machine learning models to analyze future outcomes as well as to forecast business growth. You can check out the best data science courses to know more.
What Is Business Analytics?
Business Analytics is such a process that is used to sorting, processing, studying and collating business data using statistical models as well as iterative methods for transforming data into business insights.
Its objective is to determine useful datasets and make them work into problem-solving cases in the field of business operations to increase revenue, productivity, and efficiency. A business analyst employs quantitive techniques for the investigation of performance in business from all the sides.
Career Opportunity of Data Scientist: Data scientists work way more on data collection and data analysis than business analytics. They need more technical skills for doing the job. Career opportunities of a data scientist are listed below:
- Data Architect
- Business Intelligence developer
- Infrastructure Architect
- Applications Architect
- Data Scientist
- Data Analyst
- Enterprise Architect
- Data Engineer
- Machine Learning Engineer
- Machine Learning Scientist
Data scientists need to design algorithms, collect and analyze data, develop and deploy them. They are more likely to focus on machine learning to be proficient in coding for finding data trends and predictive analytics.
Their key concern must focus on finding connections between data sets. They are the people who show predictive recommendations for online shopping based on the likings of shoppers.
Career Opportunity for Business Analytics: Data analysts use data to help decision-makers understand the overall performance of a particular company and thus forecast future performance. They aim to develop the right analytical models to direct the company successfully.
- Big Data Engineer
- Financial Analyst
- Big Data Analytics Architect
- Business Intelligence and Analytics Consultant
- Marketing Analytics Manager
- Fraud Analyst
- Retail Sales Analyst
- Analytics Associate Metrics and Analytics Specialist Database Administrator
- Data Scientist
- Data Visualization Analyst
- Data Scientist
Data scientists earn an average salary of $70,246 per year, according to indeed.com. On the other hand, business analysts earn approximately $75,575. Business analysts tend to make more than data scientists, but professionals in both positions are called “data scientists” who earn an average salary of $113,436 per year.