Opportunities in Data Science
Data science is a game changer in every industry. The amount of data generated by the digitization of processes can skyrocket. As a result, data science tools and technology are being used to boost productivity in a variety of organizations. This technology field, as a whole, provides a few excellent opportunities for analytics, machine learning, data mining, and big data.
Because the role of businesses and service providers is to assist in problem resolution, data science can assist in the analysis of large amounts of data for quick and efficient problem resolution. These advantages were not available a few years ago with engineered solutions.
Aside from that, the introduction of ML algorithms and predictive analytics in the industry has enabled predictive maintenance. The good news is that there are no signs of negative growth in the industry.
The world has seen a surge in demand for data scientists’ services in a variety of fields. According to market researchers, the field could see significant growth in the future.
With the increased demand, new job seekers and skilled professionals are putting their skills to use in this field. Furthermore, data technologies are creating a plethora of new job opportunities for new professionals.
In India, for example, the number of jobs is expected to reach 1.5 million by the end of 2020. According to a report released by Great Learning, this represents a 62 percent increase over the previous year. Around 70% of job openings in this sector are for data scientists with less than 5 years of experience.
According to Hari Krishnan, co-founder of Great Learning, organizations across various domains adopt new technologies to maintain their relevance and competitiveness in the market.
As massive amounts of data are generated, an increasing number of professionals are required to extract actionable insights for better business decisions. So, the good news is that there is a growing demand for professionals in India.
As a result, professionals are entering this field to improve their skills and meet industry demands. The number of data scientists is expected to more than double by 2020.
Aside from that, sectors such as retail, media, ecommerce, healthcare, energy, and BFSI are offering an increasing number of these positions. The average salary ranges from 14 LPA to 14 LPA.
Great Learning also stated that these industries are experiencing a significant shortage of skilled professionals. According to a research study, approximately 97,000 job posts related to data and analytics were unfilled due to a lack of qualified candidates.
According to experts, the benefits of data science jobs encourage young talents to join the league in order to foster future advancements. Furthermore, the report outlines a variety of career paths for data science professionals, business intelligence developers, data engineers, data analysts, and scientists.
In short, data science provides numerous opportunities for businesses all over the world.