The primary responsibility of an Analytics Manager is to structure, manage, and extract data from multiple applications. They then must organize this data by applying statistical knowledge and data modeling in order to coherently summarize data for a company’s top executives so that the information can be used to make important strategic decisions. These decisions are made with the intent to help the company be more profitable and efficient. This happens when the Analytics Manager develops analytical approaches to answer business questions.
Data analyzation plays an important role in the company’s growth and decision-making. Therefore an Analytics Manager is responsible for a number of tasks in order to gather all of the necessary information and come up with a comprehensive analysis of said data.
Analytics Manager Job Description
Depending on the company, an Analytics Manager job description can differ depending on the individual company’s needs or specialized duties. But for the most part the position requires analyzing, interpreting, and visualizing data to help users meet reporting analytical needs. This is done by designing, creating, and maintaining reports that are clear, concise, and representative of the identified needs set forth by the company using query, reporting, and visualization tools. Tasks include generating relevant information that correlates with data and information from prior statements and accounts. They must also make sure that all data and information is up to date, and review strategies and procedures that pertain to corporate practice and operating system efficiencies. Other responsibilities include ensuring that the company in which they work for follow certain regulations, procedures, and adhere to any laws that may need to be considered.
The Analytics Manager job description requires that these professionals establish metrics that ensure all necessary processes are in place and being followed to capture the required data and to provide reporting capabilities at a project and portfolio level. Insight analysis, metric tracking, and reporting are all tasks that are crucial to the position.
Much of the Analytics Manager’s time is spent on the computer. This time is spent with data management gathering information and preparing presentations in order to showcase the data in a more colloquial manner for the user. Perhaps most important is the Analytics Manager’s ability to interact effectively with others. Data collection is a group effort and collaborative work must be done with Operations Directors or Project Managers to ensure that all identified gaps in information are filled. They must work collaboratively with business partners to facilitate more efficient and effective ways to collect, maintain, and report information. It is important to establish and maintain strong relations with all members of company, including its customers.
Analytics Manager Education Requirements and Training
When exploring how to become an Analytics Manager, education and experience are the two biggest factors. One must have a Bachelor’s degree from an accredited four-year college or university in statistics, business administration, or computer information systems. However, when searching for employment in the field one may find that the prospective employer might desire an advanced degree such as a Master’s.
Analytics Managers must be proficient with computer programming and have a strong mathematical acumen. Depending on the company, specialized training may be needed to fit the employers niche field. Each company has specific data and information that may differ from past positions held under the same job title. Analytics Managers must demonstrate experience with providing advanced data insights as well as expert knowledge of analysis tools such as Microsoft Excel and Qlikview. Someone in the position must have knowledge of analytic techniques, including practical statistics, and be familiar with database querying and query design. Process improvement (Lean/Six Sigma) certification or experience is a plus. And because of the diverse field of software, knowledge of a variety of database management systems software is a must. The individual must be organized and exude a high level of patience as there are generally large quantities of data that must be assessed and reviewed.
Analytics Managers must also possess strong communication and presentation skills (including Powerpoint). Relaying one’s findings to an audience is a major requirement. Public speaking should be second nature to someone in this position.
Analytics Manager Salary
The average Analytics Manager salary (updated as recently as June 20, 2015) is $90,789 a year, or about $44.00 an hour, according to Payscale.com. Pay ranges from $65,000 to $132,000 a year. Many factors can determine an entry-level salary including the company’s location or size. For instance, the median salary for an Analytics Manager in San Francisco is $107,415 compared to Chicago’s median of $89,312. (San Jose pays the most at 33% above the national average, and Detroit pays the least at 14% below). As far as individual companies, web giants Expedia and Accenture have starting salaries for this position at $125,000 and $135,000, respectively. The pay most likely won’t be near this amount for a smaller corporation.
The position’s starting pay can also rely heavily on the individual’s amount of experience in the field. Here are a few variables based on experience and skills that can affect one’s salary in this position:
- Entry-level (0-5 years): $83,000.
- Mid-Career (5-10 years): $101,000.
- Experienced (10-20 years): $109,000.
- Late-Career (20+ years): $111,000.
- People Management Skills adds a 25% increase in salary.
- Big Data Analytic Skills adds a 24% increase in salary.
- Strategic Marketing accounts for a 5% decrease in salary.
- Microsoft Excel and Web Analytics each account for a 7% decrease in salary.
It’s interesting to note that Analytics Managers who have held the position for more than 20 years have only slightly higher earnings than those who have worked 10-20 years.
Analytics Manager Outlook
Now you’ve got the education and the experience you need to find a job. So what does the Analytics Manager job outlook look like in today’s market? Analytics relates to a company’s statistical data and is a growing field in the information technology industry. But, with any company’s transactional activity comes huge quantities of data that must be analyzed to identify troubling trends and predict the best course of action to maintain future growth. For this reason there is a need for strong Analytics Managers in today’s job market. We predict that this position will grow by a whopping 27% over the next 10 years!
One downfall is that many employers may prefer to have an employee in an entry-level position within the company to work their way up to Analytics Manager to ensure that the employee is loyal and honors the confidentiality of the company. This results in fewer hires for Analytics Managers with little to no experience. See the statistics for Analytics Managers hired and their years of experience:
- Less than 1 year: 1%
- 1-4 years: 26%
- 5-9 years: 46%
- 10-19 years: 25%
- 20 years or more: 2%
As shown, those with 20 years or more experience make up only 2% of the Analytics Manager field meaning that most either retire, move on to another position in the company, or perhaps change their career altogether. The common career path for an Analytics Manager is to move on to the Director of Analytics, and then to a higher title. This usually turns out to be a decision-making role such as an executive position.
When asked about the pro’s and con’s of the job, most agree that job satisfaction depends greatly on which team you end up with and how you get along with the manager of that team. Most of the con’s for Analytics Manager usually center around boredom and the tedious nature of dealing with statistics. As a side note this is a male driven field. Men hold 66% of these positions.
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