Technical skills refer to the specialized knowledge and expertise needed to accomplish complex actions, tasks, and processes related to computational and physical technology as well as other diverse enterprises. Individuals possessing these skills are often referred to as ’technicians’ across multiple domains such as audio, electronics, market, computer, and engineering.
In financial markets, technical skills often pertain to using technical analysis to make informed trade decisions involving stocks, bonds, futures, and other financial instruments.
Key Takeaways
- Technical skills encompass abilities or knowledge used to carry out practical tasks in fields like science, arts, technology, engineering, and math.
- They typically involve using specific tools and technologies essential for various tasks.
- In finance, such skills can involve technical analysis, utilizing charts, indicators, and patterns for decision-making.
- Generally, acquiring advanced technical skills requires specialized training or education.
- Technical skill requirements are highlighted for most career fields.
Understanding Technical Skills
Technical skills are hands-on abilities usually related to areas like mechanics, information technology, mathematics, and science. The term includes the capability to use specific tools, whether tangible or intangible, and mastering their intended uses in different scenarios.
Given the rapid advancement of technology, the demand for a broad range of technical skills is expected to keep growing. Their practical nature enables individuals to complete designated tasks efficiently in the real world rather than theoretically.
What Technical Skills Are Employers Looking for?
Data Science
Data Science combines advanced mathematics and statistics and is increasingly becoming indispensable. Companies leverage data to gauge performance and unravel consumer trends, spiking demand for data science talent.
Key technical skills for data science professionals include:
- Programming languages (e.g., R, Java, Python)
- Data visualization
- Statistical analysis
- Machine learning
While these skills can be acquired through self-study, many data science positions prefer candidates with formal training in related fields like computer science or engineering.
Finance
In finance, the expected technical skills are even more sophisticated. Core financial technical skills include:
- Advanced computation
- Quantitative analysis
- Financial modeling and forecasting
- Technical analysis
Technical analysts need a strong foundation in mathematics to create precise price charts and models to forecast trends using historical data.
Accounting
Accounting also calls for specific technical skills going beyond basic mathematics, including:
- Research
- Financial statements preparation
- Accounting software proficiency (e.g., Microsoft Excel)
Accountants need to adapt to current software-driven environments rather than relying on traditional methods, necessitating technical skills that ensure accurate financial reporting and analyses.
Software Development
Software developers must create functional applications and programs, which demands proficiency in:
- Coding (software programming)
- Using advanced software tools
- Operating and enhancing hardware performance
Software developers utilize coding languages that communicate human instructions to computers, resolve computing problems with data structures, and apply algorithms for operational precision.
How to Improve Your Technical Skills: Education and Training
Acquiring advanced technical skills necessitates specific education or hands-on training. Here are steps to help boost your technical skills:
1. Establish Career Goals
Define your career goals to understand what technical skills are necessary. Career goals could be pursuing a new field, achieving work-life balance, or advancing within your current domain.
2. Research
Identify the skills required by researching both online and through industry professionals.
3. Itemize Technical Skills
Document needed skills and categorize them, considering certifications or specializations, organizing and prioritizing effectively.
4. Identify What You Need
Assess what skills you have and what you still need. Determine how to acquire the necessary skills and account for educational requirements.
5. Develop Technical Skills
Formulate a plan to pursue and develop these skills, considering practical workplace learning or formal academic programs.
How to List Technical Skills on a Resume
An effective resume presents your suitability for the job. When including technical skills, prioritize those key to the position you’re applying for. Follow structures such as labeling a ‘Skills’ section and grouping related skills.
Which Jobs Require Technical Skills?
Professions requiring technical skills are vast—audio technicians, electronics technicians, market technicians, computer technicians, engineering technicians, among others.
Why Are Technical Skills Important?
Technical skills are essential for the efficient performance of job duties. They ensure employees can effectively use tools and processes critical for maintaining competitive advantage and operational productivity.
How Can I Improve My Technical Skills?
Technical skills can be enhanced via diverse methods, including formal education or specialized training relevant to fields like computer programming.
The Bottom Line
Technical skills empower workers to successfully execute their job requirements, elevating productivity and fostering a competitive edge in their field.
Related Terms: hard skills, professional competency, upskilling, technical proficiency, job training.
