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The differences between industrial analysts and business & data analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an industrial analyst and a business & data analyst. Additionally, a business & data analyst has an average salary of $75,461, which is higher than the $69,648 average annual salary of an industrial analyst.
The top three skills for an industrial analyst include macro, market research and quantitative analysis. The most important skills for a business & data analyst are data analysis, power bi, and visualization.
| Industrial Analyst | Business & Data Analyst | |
| Yearly salary | $69,648 | $75,461 |
| Hourly rate | $33.48 | $36.28 |
| Growth rate | 11% | 11% |
| Number of jobs | 72,280 | 188,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
An industrial analyst has access to the financial information of investors in order to give data-based recommendations that can boost the income of financial programs. Some of the tasks an industrial analyst does are preparing forecasts, developing models for the industrial scale, create segment taxonomies, and drawing graphs, tables, and spreadsheets based on gathered information from researches to come up with comparisons and more accurate forecasts. Normally, they work for research and consulting firms, but some also perform private consultation services.
A business and data analyst is an individual who specializes in utilizing different data-centered strategies in providing analytical services to a company or an organization. Their duties focus on conducting extensive market research and assessments, organizing studies using various techniques and approaches, gathering and analyzing data, performing risk assessments, and spearheading activities such as interviews and surveys. They use their research findings to create plans, establish business forecasts and models, and recommend solutions to optimize business operations.
Industrial analysts and business & data analysts have different pay scales, as shown below.
| Industrial Analyst | Business & Data Analyst | |
| Average salary | $69,648 | $75,461 |
| Salary range | Between $46,000 And $105,000 | Between $55,000 And $101,000 |
| Highest paying City | Washington, DC | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | The Citadel | Meta |
| Best paying industry | Government | Finance |
There are a few differences between an industrial analyst and a business & data analyst in terms of educational background:
| Industrial Analyst | Business & Data Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between industrial analysts' and business & data analysts' demographics:
| Industrial Analyst | Business & Data Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.9% Female, 35.1% | Male, 54.9% Female, 45.1% |
| Race ratio | Black or African American, 7.5% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.8% American Indian and Alaska Native, 0.2% | Black or African American, 7.5% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |