As long as there is data, there will be the Data Science job too.
Are we going to generate lesser data in the future than we do it now?
Seems Impossible!! Isn’t it?
Every tap on your screen, swipe or click forms the data. Most of that is to be analyzed in order to make sense of it.
Some of the most versatile applications are built upon the concepts of Data Science including Augmented Reality, Internet Search, targeted advertisement, healthcare applications, recommendation engines, advanced image recognition, speech recognition. Planning of airline routes, etc.
So, you can see that Data Science is applicable in almost every sector across all the industries. But the fact is that there is a scarcity of skilled, trained, and certified Data Scientists everywhere in the world.
According to the US Bureau of Labor Statistics, it is expected that there will be a 27.9% growth in the demand for Data Science skills by 2026. A recent survey by The Hindu states that there are around 97,000 job openings for data analytics roles but there are very few applicants for these positions.
The best time to take a data science course with placement guarantee is NOW!! This will make you learn the most crucial concepts of Data Science and acquire the skills required to make a lucrative career in this domain.
Let’s look at the Data Science job market this year.
Data Science Job Market
Data is considered gold today. Data Science has become the most crucial component of a majority of organizations. It has now become a basic requirement of businesses, regardless of their type and size. Data Science helps businesses to make informed decisions, improve profits, minimize losses, analyze current market trends and take steps accordingly.
There are many IT professionals who are striving to make their career in this domain as this is the field that offers huge salaries, and adds value to your portfolio. As companies are juggling with data to make sense out of it and use the extracted insights to make smart business decisions. The number of vacant jobs in India is over 97000, as per a report published by The Hindu.
Can you imagine that economies are expected to transform solely on the basis of data generated by a Data Scientist?
This is why the present is the most important time for building a career in Data Science.
Data Science is going to be the most in-demand job in the next five years. The reasons are:
Can you believe that the increasing demand for Data Science has made educational institutions think of including it in the academic curriculum? Data literacy is expected to improve in the near future and the data scientists would have a particular qualification just like a doctor or an engineer. So, this will be part of a new discipline. Senior data scientists will be recognized from other IT roles in the coming years. Eventually, the data scientists’ hierarchy will be clearly defined.
The demand for data scientists is increasing at an exponentially high rate. The increasing number of different job roles and the increasing amount of data has made this demand increase further. The appeal for profession is improving with the increasing variety in job roles. The key employers of data scientists are the insurance and finance industries. As more ed-tech firms are open to providing training to data scientists, data literacy is expected to get widespread across the world. The banking industry finds data scientists crucial for them. Banks require data scientists to analyze the data to achieve better customer experiences. Risk management, fraud detection, real-time predictive analytics, and client lifetime value are a few of the most important areas that help banks in enhancing their service quality and thus attract new customers. For many business tasks in banks, data science has become a prerequisite.
Another reason for the increasing demand for data scientists is the massively increasing amount of data that is being generated regularly, making it the backbone of decision-making in every business. If statistics are to be believed, the amount of data created, collected, copied, and consumed will exceed 149 zettabytes by 2024, across the world. Data Science has always helped in obtaining meaningful insights to help businesses in making informed decisions by identifying substantial changes that are required to be made for improving customer behavior, improving old mistakes, and preparing for future challenges.
Next comes the scarcity of trained and skilled professionals which is at an all-time high. There has always been a substantial imbalance in demand supply because of this reason. This is why many organizations have tied up with ed-tech firms to get their employees trained and certified and also develop internal training programs to fill the skill gap.
With the deficiency of skilled and qualified professionals, companies are ready to pay huge salaries to talented professionals and offer them long-term incentives to hire and retain those professionals. Therefore, this job role has become a highly lucrative career option. According to Talent Trends research by Michael Page in 2021, data scientists with 3 to 10 years of experience in this field can earn INR 25 to 65 lakhs annually. Can you believe that the salary of those with more than 10 years of experience can earn up to INR 1 crore annually? The same report states that if you gain experience of 15 years or more, the salary may go as high as INR 1.8 crore.
Most importantly, the field requires you to be proficient in business as well as technical abilities. So, you have to develop the required skills pr job descriptions and hone your existing skills. You can go with an upskilling program and learn data mining and statistics, machine learning, computer languages, and advanced analytics.
Data Science is the most lucrative career option these days. You can enroll yourself in an online training course and acquire the skills required to make a career in this domain. The data scientist’s techniques and the skills all you get packed in these online training courses.
Enroll Yourself Now!!
