Data Science and analytics applications have grown massively over the past few years. From being used in healthcare to banking, analytics skills are becoming more popular. Recruiters are looking to hire IT professionals with analytical skills. Let us take a look at how data analytics acts as a guide for decision-makers in the banking industry. 

How Data Analytics Tools Help Guide Decisions for Banks

The power of data-based decision making has made its way into the banking industry. Financial institutions are finding it difficult to leverage analytics into their functions, costing them potential opportunities. Compared to the financial world, other industries such as pharmaceuticals have seen a three times higher success rate. The opportunities are endless, but the question at hand is which tools to use for better decision making. Splunk and Microsoft’s Power BI can be crucial in helping organisations make better sense of the data at hand. It can also help in converting this data into helpful insights and actionable steps.  

Demand for Cloud and Analytics Rise 

The demand for IT professionals with cloud and analytical skills is rising, and technology service providers have hired fewer people with legacy skills over the past three to four months. Infosys, TCS, HCL, Wipro and other such companies are looking for digital transformation and thus, are looking for professionals with knowledge of new-age tools and technologies. Artificial Intelligence, Robotic process automation, IoT, cybersecurity among other technologies are on the rise with demand for AWS and cloud going up by 6% over the last few months. Now would be the perfect time to upskill in these domains and work towards landing the perfect job to help build your career. 

For more such weekly guides, watch this space. Head to the Great Learning Academy for free courses on Data Science and Analytics. 

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