In the era of artificial intelligence and machine learning, data has become the alpha of the tech plot. Bulks of data are generated and analyzed every passing minute. According to a recent report, “over 2.5 quintillion bytes of data are created every day, and it’s only going to increase. Almost 1.7MB of data is created every second for every person on earth. This vast spectrum of data statistics substantiates the upsurge in demand for data scientists. Data science plays a pivotal role in detangling complex, unstructured data into well-formulated data by employing supremely skilled white-collar workers known as data scientists.
A Data Scientist is a professional with expertise in interpreting and analyzing raw data and formulating the most potent actionable plan to meet the company’s requirements. In a nutshell, a data scientist is a person who transforms raw, unstructured data into structured data using statistical techniques and machine learning algorithms.
Data scientists have indeed become the voice of the consumers during the development process of a product. Tremendous knowledge, research and analytics set the stage for a well-designed product. To make this core functioning smooth and developmentally sound is the prime task of a data scientist.
Thus, Data Scientist needs to have Domain Knowledge, Technical Expertise, and Statistical Knowledge to perform his work efficiently.
Companies are in keen search of data science experts who can draw meaningful insights from a huge data set. Preluding a vast ocean of rewarding reasons, here are some key points to explain why one should become a data scientist.
One of the most important reasons why most millennials find data science lucrative is the strong impact this field can create in people’s daily lives. Data scientists are skilled in varied skills, all at once. Be it the small micro ventures or the giant tech sharks such as Apple, Amazon, and Facebook, the contemporary industries are no stranger to the supremely important Data Scientists. They are keen on positioning them in their firms. Working at the core of scrutinizing consumer requirements and formulating a master strategy is what mounts a data scientist in such an impactful position.
Amidst holding a powerful stance in a company, a data scientist can also create a global impact. For instance, as a data scientist, your concern in the agriculture market of India can end up innovating a brilliant business model to increase the efficacy of the agriculture workers.
With the direct relationship between the availability of labour force and income, the scarcity of skilled professionals in data science tends to allow a considerable payment. It is the highest paying job across the globe after specialized doctors. An example of India’s starting salary of a Data scientist is around 10 LPA, and a 5-year experience person may earn between 60-70LPA, which is nothing less than a masterstroke. The significant role that a data scientist plays suffices these big digits. It is not just the income but the perks (large bonuses) that are a cherry on the cake.
- Contribution towards betterment
The branch of data science has offered its valuable service in the advancements of many industries, the most-talked-about being healthcare and education. The healthcare industry dynamics have taken a full circle with the advances in Artificial Intelligence (AI) and Machine Learning (ML). Predictive analysis, early diagnosis, and automated results are some of the many pros birthed by data science. Early diagnosis of acute diseases like cancer and brain hemorrhage has helped in the efficient treatment of patients. AI and ML have also allowed clinical care to reach the remotest of areas. Many healthcare applications have helped in providing routine medical assistance to people.
The above arguments have substantially explained the rising demand for data scientists in modern industries, which makes the field of data science ever-evolving. Artificial Intelligence (AI), Machine Learning (ML), and Big Data are some of the finest examples of this evolution. With the explosion of data around the world, the discipline of data science is rapidly evolving with active experimenting. As data science grows, it will generate even more opportunities for the new generation. Its evolution leaves its trace in almost every aspect of the chat. Thus, e-commerce companies are not exclusive to the use of data scientists. An entirely new era of technology can be expected in the upcoming decades.
Data science helps transform business, and with this pandemic, as most companies are increasing their online share of Sales, this field’s importance has increased. Not only can you see yourself as a Chief Data Officer or Chief Information officer, even Chief Strategy Officer and Chief Executive Officer are the fields open for a Data Scientist.
~ Kapil Mahajan, Data Science Leader
Data Scientists help companies make better decisions by collecting, organizing, and turning data into insights. As long as you can process massive amounts of data and solve problems with the help of data science frameworks and models, there is space for you in the industry. Upskill today with an Emeritus data science course of your choice and take your career to the next level with a reputed, top-ranked B-School certificate.