Data Science Opportunities
In every industry, data science is a game changer. With the digitization of processes, we can see a huge increase in the amount of data. Therefore, data science tools and technology are implemented for higher productivity in different organizations. As a whole, this technology field offers some great opportunities for analytics, machine learning, data mining, and big data.
Since the role of businesses and service providers is to help solve problems, data science can help analyze large amounts of data for fast and efficient problem resolution. A few years ago, engineered solutions could not offer these benefits.
Apart from this, the advent of ML algorithms and predictive analytics has enabled predictive maintenance in the industry. And the good thing is that we don’t see any signs of negative growth in the industry.
The world has been experiencing a high demand for the services of data scientists in many fields. According to market researchers, the field may experience shades of growth in the future.
With the increase in demand, new job seekers and talented professionals are using their skills in this field. In addition, data technologies are generating many job opportunities for new professionals.
In India, for example, the number of jobs is expected to reach a shortage of 1.5 by the end of 2020. This represents an increase of 62% compared to the previous year, according to a report published by Great Learning. In this sector, about 70% of the jobs are assigned to data scientists who have less than 5 years of experience.
According to Great Learning co-founder Hari Krishnan, organizations from different domains are adopting new technologies to stay relevant and competitive in the marketplace.
With tons of data being generated, more and more professionals are needed to gain actionable insights to make better business decisions. So the good news is that the demand for more and more professionals is increasing in India.
As a result, professionals are joining this field to improve their skills and meet the needs of the industry. The year 2020 will see a huge increase in the number of data scientists.
Apart from this, the sectors that offer an increasing number of these jobs include retail, media, e-commerce, healthcare, energy, and BFSI. Average salaries are up to 14 LPA.
Great Learning also described that these sectors face a big problem, which is the shortage of qualified professionals. According to a research study, about 97,000 data and analytics-related jobs went unfilled due to a shortage of qualified talent.
According to experts, the perks offered by data science jobs encourage young talent to join the league to foster advancements down the road. Additionally, the report also features many career paths for data science professionals, business intelligence developers, data engineers, data analysts, and scientists.
In short, this is how data science offers many opportunities for companies around the world.