Answer:
Analytical skills are important because they allow people to find solutions to various problems and make concrete decisions and action plans to solve those problems.
Step-by-step explanation:
As mentioned earlier, they are important skills in all disciplines, ranging from data science, project management, marketing, law, medicine, scientific research, accounting, etc.
Analytical skills are exceptionally important in finance. Financial analysts must be able to synthesize large volumes of data, analyze the data, and find a solution to various problems. For example, consider an equity research analyst for an investment fund. The problem that needs to be solved is finding the ideal equity investment that fits the portfolio’s philosophy.
In order for the analyst to solve such a problem, they must take financial information from reports of companies, pricing information, information on the current portfolio, and other relevant data points.
Next, the analyst must analyze the information and find an ideal equity investment with an optimal return and risk profile, as well as an investment that aligns with the fund’s investing philosophy. Lastly, the analyst must be able to communicate their findings to the portfolio manager, so that an investment decision can be made in a timely manner.