You must not have noticed, but your every interaction with technology generates data. Whether you are simply checking your BuzzFeed, ordering food online, transferring money to someone, or sharing a video on social media, you are leaving a digital footprint. Companies have started gaining a lot of valuable information from such data. However, you may say that this massive amount of data is usually in raw format and generated through disparate sources, which can make it quite complex for companies to draw conclusions from them. It is here that the term ‘data science’ crops up.
Data science is a multidisciplinary field that involves a set of practices that can guide the analysis and interpretation of massive amounts of data to solve various business problems. The data is collected, cleaned, processed, analyzed, and finally visualized to produce data-driven solutions for companies. When the raw data is transformed into interactive visualizations, companies are able to find hidden trends and correlations that usually go unnoticed otherwise. With such insights, companies can build their business strategies and gain a competitive edge in the market.
Data scientists and other key roles dedicated to the analysis of such massive data are becoming quite popular these days. Professionals have started looking for a data science course in Delhi, Chennai, Hyderabad, Mumbai, etc., to learn more about this domain. If you are new to this field, you may be skeptical about pursuing a data scientist’s career. So, in this article, we have discussed some of the top reasons why a data scientist might just be the role you were seeking.
Why Start a Career as a Data Scientist?
Data scientists are individuals who collect data sets relevant to business problems, analyze and summarize them to gain valuable information. They have the ability to analyze critical raw data through algorithms of statistics, database management, programming, and machine learning. They test new concepts, debug, and refactor existing models as well as plan to design products that are well-architected.
Here are some of the top reasons why you should embark on a career as a data scientist.
Look at any highest-paying jobs surveys; you will find data scientists at the top of the list. According to Payscale, data scientists in the US earn an average base pay of $96,420 per year. Even the entry-level professionals in this field command higher salaries, with an average total compensation of around $85K. With relevant experience, skills, and achieving certifications, this figure can go as high as $136K annually.
Shortage of talent
As data science is a relatively new career field, there aren’t many skilled professionals to fill the existing vacancies. The job role requires specialized technical skills along with expertise in statistics, machine learning algorithms, Python/R programming, SQL, and various other tools, which only a few candidates possess. As per McKinsey Global Institute, a shortage of about 190,000 data scientists was predicted in 2018 in the US alone. You can think about how the skills gap would have widened globally until now.
Huge demand across sectors
Looking at the salary and talent shortage, you may have realized that data scientists’ demand is quite high. However, this demand is not only in the IT industry but also in finance, healthcare, manufacturing, and professional services. According to IBM, IT, professional services, and finance and insurance altogether generate 59% of all data science job opportunities. The finance and insurance industry stands at the top, contributing around 19% of the total jobs and also pay the most on average – $113.7K.
Get to work at world-renowned tech companies
Suppose you have always dreamt of working for well-known technology companies like Microsoft, Accenture, Oracle, Slack, Intel, Amazon, or Google. In that case, a data scientist role can open its doors for you. These companies hire data scientists regularly for their digital initiatives and to make more informed business decisions. In fact, these tech giants also pay high salaries and offer other perks to data scientists.
Future-proof your career
Today, technological advancements have affected every industrial sector, and the growing automation has taken away a number of manual jobs. However, the demand for digital skills is going to remain high in the future, and the job of a data scientist is one among them. Companies are accelerating their digital transformation and would require data scientists to deal with unprecedented amounts of data and make better decisions.
Did the points mentioned above check all your concerns regarding a new career? If yes, then you should seriously think about starting a career as a data scientist. If you are interested in research-based work, have good analytical skills, pay attention to details, and have good software engineering and mathematical skills, this job role is for you. Aspirants like you start by enrolling in a reliable data science online course and build a strong foundation of the important concepts. Next, they try to achieve industry-recognized data science certifications (IBM Data Science Professional Certificate, Open Certified Data Scientist, SAS Certified Data Scientist, etc.) to gain that extra edge over their peers and finally land their dream job.