Data science and why the demand for data science work is high

Data science is dedicated to analyzing hidden data. Data scientists discover unique insights to improve and make smarter business decisions. They try to understand the characteristics or patterns in the data. Business organizations recognize the necessity of extracting and analyzing historical data to make informed decisions, which can help organizations make substantial profits. Their career path is endless, because the generation of large amounts of online data will continue to grow exponentially. This is the main reason why you should become one.

Organizations face real challenges in processing data

Over the past two decades, data logging, data generation, and electronic content creation have proliferated. This shows that each of our companies has a lot of data that can be used to make better decisions, but do n’t know how to do it. According to Glass Door ’s statistical report this year, it highlights that data scientists have been at the top of the list for two consecutive years.

Shortage of skilled data scientists

Research by the McKinsey Global Institute proves that in 2018 the United States lacked about 190,000 data scientists. Demand is crucial, especially in India where technology and tools are considered. The CEO of Fractal Analytics stated that they perform the analysis, while Analytic Consultants effectively interpret and use the data. Supply is scarce, but the demand is huge.

high salary job

They are currently one of the highest paid jobs in the industry. According to Glass Door statistics, the average salary for data science jobs in the United States exceeds $ 62,000. According to PayScale, in India, the annual salary of highly skilled people is as high as 190,000 lakhs.

X factor

As a data expert, the top talents working in areas such as Facebook, Twitter, Google, Amazon, LinkedIn, etc. are considered cool and impressive. It’s no surprise that Harvard Business Review labeled it “the sexiest job of the 21st century.” The types of jobs performed by data scientists can help them develop their careers and improve their analytical capabilities in many fields such as machine learning and big data.

Simplify data scientist

It is not only the global tech giants who need data scientists. According to the Harvard Business Review, compared with other companies that do not use data for decision-making, the top three companies in their respective industries have increased their data-oriented decision-making productivity by 5% and profits by 6%. Their business decisions. Now, many startups are looking for high-paying entry-level data scientists.

Extensive work

Many industries, such as manufacturing, healthcare, banking, information technology, etc. Data scientists are being recruited. This shows that they are not limited to industry. They are distributed in various regions. Therefore, regardless of the individual’s location or field of work, data science and analysis will continue to exist everywhere and be open to anyone who is determined to take it as a profession.

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Source by Shalini M