The process by which humans collect information, analyze it, and use it for making decisions or problem-solving is called analytical ability and uses analytical skills, which will be studied today. It is important for employees and jobs where issues are investigated and resolved, or simply put, having analytical skills are a must for employees.
In this article let us look at:
As just pointed out, employers always look for employees who can investigate a problem and find in the shortest possible time an efficient resolution to it. This ability is also called a person’s analytical skills. A wide variety of options, tools and strategies are available for the decision making process. They can include problem detection, observation, brainstorming, data interpretations, new data integration, data-based decision making, theorizing and more. The resolution offered is also called a solution arrived at through applying interpretation skills, a methodical approach, techniques that are creative and clear-cut data analysis.
Analytical thinking and analytical skills are referred to as soft skills but are dependent on technical analysis skills or types of hard skills that are job-specific. It is always good to highlight the importance of analytical skills in the interview and resume when seeking employment. Some techniques for doing so are discussed below.
Simple decisions with limited variables are easy to take. However, if multiple and dependent variables are present, finding solutions is not exactly easy and needs good analytical skills. For Ex: Based on the price of a food-item and its popularity, a restaurant owner could decide to slash its price to promote its sale. However, one has also got to have information on suppliers costs, availability of constituents, profit margins, processing costs, order frequency, manpower required, the approximate number of orders expected etc., to put an item onto the same menu. Both require analytical skills before the decision making process and due thought to processes of how to improve analytical skills.
Of several skills, the popular ones on a resume, of course, depend on the job position and its required list of analytical skills. But generalizing, the 5 essential skills are-
In today’s job market and the world in general, the abundance of data requires a gamut of effective analytical skills to get by. It is then of prime importance to identify such skills and get some effective means of garnering these desirable soft skills. When so ever one pursues a hard skill like technical training required for jobs, it is important to also allocate time to develop the most effective analytical skills for that specific job/ industry.
If you are interested in making it big in the world of data and evolve as a Future Leader, you may consider our Business Analytics Certification, a 10-month online program, in collaboration with IIM Indore!