How Part-Time Analytics Work Can Empower Your Financial Freedom
Are you looking for a way to live more comfortably and stress less about your budget?
It may be time to consider a side gig!
According to Zippia, a significant 45% of Americans have a “side hustle” in 2023.
The draw for each person is different: some are looking for a way to pay for living expenses or childcare, some are looking to build their savings, and some are looking to have more disposable income. Others are just looking for a way to experience some financial security in a time of economic uncertainty and employment instability.
Whatever your situation may be, finding additional part-time or freelance work may be the answer. But in a saturated job market, what kind of side work provides endless opportunities?
Enter data analytics.
Why Data Analytics?
There are many reasons that data analytics may be a good fit for you. Let’s talk about some of the biggest ones:
Transferable Skills
There are many different industries that crossover with analytics. If you’ve had a career in marketing, finances/banking, education, or healthcare, odds are good that you may have worked with data in the past (even without knowing it!) and have applicable skills that you can use as building blocks for growing your analytics knowledge.
Accessibility
Data analytics is an incredibly accessible career no matter what your needs may be. Remote or hybrid work is easily achievable, making analytics a great option for those who need flexibility in their schedules due to other obligations, family time, or medical needs.
Analytics also will require a lot of desk/computer work, making it a good fit for those in need of mobility accommodations. And if you have social anxiety, a speech impediment, or another barrier that makes it uncomfortable for you to speak, your work is less centered around face-to-face time and a strong analysis is able to speak for itself!
Earning Potential
If you’re looking for a lucrative career opportunity, then data analytics has you covered. As of September 2022, Glassdoor records the average salary for a data analyst as just over $70k!
When looking at the earning potential of a part-time, freelance role, it’s important to explore hourly averages. As of May 29, 2023, the national hourly average for freelance data analysis work is $36.65. When you multiply that by the average number of hours per week that people spend on a side gig (13), that comes out to about $475 per week.
While hours worked, wages earned, and other factors are all unique to each worker and project, it’s easy to see that the time spent can prove to be worth the effort!
Indispensable
In times of uncertainty, it’s natural to look for opportunities that won’t lose value over time. Regardless of what you may have heard regarding AI progression or the state of the economy, data analysts continue to be irreplaceable.
Human touch will always be needed in analysis, for multiple reasons: certainly, because a computer will never be able to calculate the nuances of human emotion, but also because technology is also fallible.
It’s not a matter of “if” it will fail or make a serious error due to a bug, but “when”; therefore, a set of human eyes will always be necessary to review findings and adjust insights according to those factors outside of the scope of an algorithm.
How to Get Started
Now that you know why you should explore freelance data analysis opportunities, let’s talk about how you can make it happen!
Find Your Niche
What kind of analytics work interests you?
Explore different analytics career paths to find where your skills and interests intersect. You may find that you are more interested in data engineering or even data visualization; lean in!
Expand Your Knowledge
Once you have your career target in mind, it’s time to enhance your existing skills and fill the gaps where needed.
Rather than pursuing certifications that barely skim the surface of the work you’ll actually be doing as a freelance analyst, consider taking hands-on, project-based data analytics courses that can get you the practical experience you need to succeed.
Make Connections
Networking may seem intimidating at first, but your connections can make all the difference in your data journey! LinkedIn is a great place to start.
The data community is warm and welcoming; while you’re learning, there are plenty of opportunities to lean on your peers for feedback and constructive criticism to help sharpen your skills. You can also find plenty of nuggets of wisdom in the posts of others who have already been in your shoes.
Curious about where you should start? Chris Bruehl already put together a list of great folks to follow!
Build a Portfolio
A resume is great, but it’s not going to SHOW your ability to do the work. That’s what makes a portfolio invaluable to data analysts…especially if you’re early in your data career!
A strong data analyst portfolio can determine whether you get the project you’re applying for or whether it goes to someone who looks more qualified on paper but may not be the best fit in practice. Take the time to find practice data sets and really show what you can do with data — the value of your personal insights should never be overlooked.
Once you have a couple of projects put together, find somewhere online to host your portfolio; that way it’s just a simple click away for potential clients. (Maven’s free Data Analyst Showcase is a great option!)
Final Thoughts
The last few years have been a whirlwind of uncertainty for everyone, and the rising cost of living is making side gigs look more and more enticing. If you DO decide to look for an additional work opportunity, perhaps data analytics is the perfect fit!
If you liked this, we’d love for you to subscribe to our publication.
And drop us a comment letting us know what you’d like to see next. You can also submit your own writing for us to promote, so don’t be shy if you would like to become a contributor.
Happy learning!
