On Becoming a Data Analyst
If you know anything about me, you know that I need two things to feel comfortable in most situations: data and context. Data provides the necessary information to understand circumstances, see patterns, and solve problems. Context gives that data a storyline to follow so that you can’t just take it in whatever direction you see fit. So many things in life are easier to process with enough data and context. In other words, don’t ask me a question in a void. Tell me why you are asking the question, because it may lead me to ask my own questions that will help me formulate a better answer for you.
With that context (see what I did there?), I happened upon a post from a young lady named Annie Nelson who wrote a book called, “How to Become a Data Analyst.” Her book promised a low-cost way to enter a field that seems very daunting to those of us who aren’t particularly tech-heavy in focus. But I was intrigued because her point of entry into the field was Excel, a program I love to use for just about everything. I ordered the book and started reading it over the summer. Right up front, she addresses whether data analytics is right for you, including core skills necessary, experience needed, and tools used. The thing that stood out for me was that specific industry knowledge (i.e., healthcare, finance, etc.) allows for an easier path to data analytics, should you decide to stay in that industry.
As I was reading about data analytics, I started to realize that I already knew a lot of the core tenants of the profession. The job of a data analyst is to look at raw data, clean it up, create some structure in it so you can look for patterns or anomalies that you can call out to investigate further. Once you have reviewed and analyzed the data, you can make observations and recommendations. That, my friends, is financial planning in a nutshell. Turns out, I’ve been a data analyst this whole time. But was I good one? I like to think so, but as with all things we can always strive to be better.
With this newfound interest in what I was already doing, I started taking more advanced Excel courses. My personal goal is to continue learning and growing. Along the way, I find that the skills you use every day can and will translate to other parts of your life. Excel is a tool that I’m happy to be more proficient using if I can improve our analysis and reasoning for our clients. I’d love to also start including some useful and informative data visualization to the plans, because everyone takes in data differently. Sometimes a well rendered graphic will tell the story better than rows and rows of numbers can.
Gathering and tracking data and being able to use and upgrade my skills to do the best work for clients is my happy place. Helping people understand where they are, so they can know where they need to be, is a skill I’ve learned working in financial planning for more than twenty years alongside some of the best in the business. I hope that I’m able to pass along everything I’ve learned to my co-workers and inspire them to find their own path in this field. And I hope that my “outsider” viewpoint gains some traction. You can be sure that I’ll be analyzing all the data I’ve tracked during my time here and providing some context going forward.
Meet Kristan Anderson, CEBS®, CFP® »
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