An Introduction to R Programming

For someone with a modest knowledge of Python and nothing else, the syntax of R programming language can be quite intimidating. However, learning R is not all that difficult and a little bit of practice allows you to quickly adapt to the programming syntax of a new language. For the uninitiated, R is a programming language created by the statisticians for the statisticians. Its strong affinity with statistics makes it one of the most important programming languages for data science.

Need to learn R for data science

Before proceeding further, you would like to know the importance of learning R for making a career in Data science.

Powerful Analytic Packages for Data Science

First and foremost R programming has an extremely vast package ecosystem. It offers robust tools to master unique skills associated with data science like data visualization, data manipulation and machine learning. Another primary advantage of R is that it has a vast and active community that works diligently on the programming language by continuously adding to R language’s functionalities.

High Industry Popularity and Demand

R programming boasts of high analytical power which is making it one of the most popular programming languages in the field of data science. It is being heavily employed in industries including big ones like Google and Facebook who are increasingly hiring data scientists to reap the benefits of machine learning and Artificial Intelligence. 

Quickstart Installation Guide

To start programming with R on your computer, you need to install R and RStudio on your computer.

Install R Language

You have to first install the R language on your computer before you start working on it. In order to download R, please visit CRAN, https://cloud.r-project.org/ (the comprehensive R archive network). Choose your system and then select the latest version of R programming language to install.

Install RStudio

You also need a robust and sturdy tool to write and compile R code. And when it comes to robustness and popularity, RStudio is the most popular IDE (integrated development environment) for R. Go to File > New File > R Script to open a new script file.

RStudio Interface

4 panels are used in RStudio interface. They are script, console, environment and output. Script is where the main script is located and console shows the output of the code you run from script. R programming training provided by a good training institute is excellent for people who do not have a programming background but want to acquire job oriented practical skills and wants to make a career in Data Science. 

What do you need to learn to become a financial analyst?

Being a financial analyst is one of the most sought-after career paths in the field of finance. This is mainly because analysts can work in a variety of industries and also because the field has some significant advantages, including a high earning potential. If you’re finance major, a financial analyst role is undoubtedly worth considering.

Here are some of the critical things you need to know about being a financial analyst.

What is a financial analyst?

A financial analyst is someone who makes business suggestions for a company based on analyses they carry out on factors such as market trends, the financial status of an organization and the predicted results of a definite type of deal. Analysts usually have academic backgrounds as a business, finance or accounting majors and are numbers-driven individuals who are comfortable interpreting data and making recommendations based on that data.

What do financial analysts do?

Financial analysts are mainly responsible for building financial models that can forecast the outcome of certain business decisions. To do this correctly, they need to aggregate a massive amount of financial data while also taking into account factors such as financial market trends and past transactions of a related nature. Since the role can be entirely different based on where an analyst works, the industry an analyst chooses to go into describes their day-to-day responsibilities. Overall, analysts play an important part in providing decision-makers with the information they need to boost revenue and manage assets successfully.

What are the challenges of being a financial analyst?

Finance is a very data-driven industry, and one of the most significant challenges of working as an analyst is being able to examine and interpret financial statements, market trends, and microeconomic conditions to offer recommendations on potential business deals and decisions. Besides, the technical challenges involved in aggregating and interpreting this complex data, one of the other challenges analysts face is the quick pace of the finance industry. Fortunately, by knowing what to anticipate and getting the right training, these challenges can be overcome.

What are the benefits of being a financial analyst?

Although working as a financial analyst does pose some challenges, it’s also a career field filled with excellent opportunities, mainly when it comes to having your choice of industries. This is because financial analysts play a crucial part in almost every area of business so whether you’re enthusiastic about music or fascinated towards technology, you’re likely to find an opportunity that’s right for you. Further to having flexibility when it comes to industries, you’ll be playing a decisive role in pulling together the information required to take these decisions and to develop new strategies. Apart from learning new skills like how to develop models in Excel and participating in exciting business processes, being an analyst will also give you the opportunity to establish a strong professional network, an asset which you can continue to foster throughout your career.

Although being a financial analyst comes with some challenges, it's also an excellent opportunity to work in an exciting field and play a vital role in the decision-making processes of an organization. If being a financial analyst sounds like it might be for you, consider taking on a financial analytics course and getting a hands-on feel for the position.