Data analytics careers in Germany – those kinds of jobs are for the people that were always raising their hands in math class, right? The people that wouldn't find scrolling through spreadsheets all day tedious.
That statement couldn't be further from the truth. Data analytics involves a wide scope of jobs and a huge variety of different tasks. Not only that, but almost every business out there needs data to run efficiently so data analytics jobs could lead to working in almost any sector you could dream of.
If you are interested in data analytics but not sure how to break into it, if it’s the right choice for you, or what the next step in your career could be, this is the blog for you.
In this post, we will discuss the latest data analytics trends in Germany. We cover what data analytics is, what the most popular roles are in 2023, and the trends we are seeing in the field at the moment.
Not only that, but at the end, we also share some helpful tips that will help you get started in your data analytics career.
What is Data Analytics?
Data analytics is the science of analyzing raw data and developing a conclusion from that information. It is essentially looking at data to find the useful parts of it that could be impactful to a business strategy.
But it's not as boring or tedious as that may sound. You don't spend days and days with your eyes skimming over spreadsheets as many of the processes in data analytics can be automated. Algorithms can often review your data and pull out the valuable parts to make raw data easier for human consumption.
As a Data Analyst, your role will involve a lot of looking at data and drawing conclusions from it to let designers and developers know how they can improve their products.
In addition to being a rewarding and challenging field, a career in data analytics can offer excellent salaries and career growth opportunities. If you love organizing and analyzing data, problem solving, forecasting trends, and visualizing information, data analytics might be your perfect career.
What can you earn as a Data Analyst?
With data analytics continuing to grow in importance to businesses, salaries are on an upward trend.
As we can see from the current state of the German tech job market, tech roles in general have a higher-than-average salary across the country. But data analytics in particular is a lucrative field to enter. The median salary in Germany for a Data Analyst is €58,713, significantly higher than the overall national average of €41,125.
Data Analyst salaries in Germany are amongst the highest in Europe. They are even higher than in London, and they are predicted to rise further given the current skills shortage and high demand for roles.
In addition, Germany has a strong economy, in fact, according to the IMF, Germany is the largest economy in Europe with a GDP of about $4.3 trillion. IMF also marks the country’s annual GDP growth as 2.1%. A strong economy leads to high levels of employment and good salaries, so those looking to enter into data analytics in Germany could not have picked a better place or time.
Expected salaries in data analytics are high, but it's also important to remember that if you are new to the field, you will likely start with a junior salary. There are also several other factors that affect how much you will earn:
Which city you work in
The company you work for
Why consider a career in Data Analytics?
If you're not in it for the money, there are plenty of other reasons to pursue a career in data analytics.
It is among one of the top growing fields globally
Great scope for career advancement
Wide variety of roles available in numerous industries that use different skills
Other than these, here are some less obvious reasons to get a job in data analytics:
The work is exciting and involves a lot of problem-solving
Roles combine interpersonal communications and technical know-how
Skills from data analytics are transferable to many different career paths
Many tech companies offer flexible working hours and remote work is continuing to grow in the field
Jobs don't typically demand compulsory qualifications – skills are often seen as more important than a degree in a data science
Continued learning throughout your career
What job roles use Data Analytics?
Data analytics is a wide field. It includes more jobs than simply Data Analyst. Here are a few high-paying jobs that are available in the data analytics field.
1. Business Intelligence Analyst
A Business Intelligence (BI) Analyst is there to extract value from business data. In general, BI analysts should have skills that include; SQL, creating models, and data visualizations.
This is the type of role that not only require technical know-how but also communication skills. You will often be presenting your findings to various stakeholders within the business and will have to find creative ways to make sometimes dull data full of life and easily understandable.
2. Data Scientist
Like most roles in data analytics, a Data Scientist spends a lot of time collecting and then analyzing data.
In general, a Data Scientist is a step up from a Data Analyst and will typically be able to understand data from a much more informed point of view. Their insights will often be used to make efficient predictions about the market, customers, and more.
Data Scientist is not a role you will often land as your first job in the field. To get such a role you need to demonstrate strong expertise in data analytics and a deep knowledge of various software tools.
It can also be useful to be familiar with programming languages such as R or Python, and be valuable to be well-equipped in data visualization so that you can effectively communicate your findings.
3. Quantitative Analyst
Quantitative Analyst is a sought-after data analytics job, particularly in finance firms. If you live in the fintech hub of Frankfurt, you will probably see job ads for this kind of role all the time.
The role usually involves using data analysis to pinpoint potential risks in the business or opportunities for financial investment.
Some Quantitive Analysts go on to use their skills to predict stock prices, exchange rates, commodities, and so on. These skills are incredibly useful for investing and as such, Quantitative Analysts are one of the highest-paying jobs in data analytics.
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