“Data Science is the future”. Well let me put it right “Data Science is the Career of the Future”.In our society the primary ideology of parents revolves around few streams like doctors, engineers, lawyers, teachers.
But in modern times some interesting career options have come up which the current generation of parents aren’t aware of.One Such stream is regarding Data Science.
Data Science is not the name of the profession but under this segment there are jobs like Data Analyst,Data interpreter etc.So let’s just discuss why Data Science is the Career of the Future?
Now if you are aware enough you will notice that most both online and offline businesses nowadays depend upon data.Let me clear it out with an example.
Suppose you are having a Clothing brand which specialises in woollen garments.Now you want to advertise your brand so that you would have customers.This is where the role of data comes.
If you have the correct data then you would advertise only in places where there’s a cold climate and people have a demand for woollen clothing and even in areas where people look for clothing in a price range in which your products are sold.
So if you have this correct piece of information, then you can have greater sales, than someone who has not analysed the data and has spent his or her money advertising in tropical regions, where he would not have any customers turn up.
Now hope you have got the idea of what data is and how it is important nowadays.
Another very important example is close to you , that is news channels.You would have seen them predict the outcome of economic growth or downfalls with graphs and tables.That is also done through data interpretation and analysis.
Now let’s talk about the career prospects of Data Science, and yeah the most important part is at the last so read through and don’t skip!!!
The role of data scientist is now a buzz worthy career. It has staying power in the marketplace and provides opportunities for people who study data science to make valuable contributions to their companies and societies at large.
Here are six things that should make you realise data science is the career of the future.
1. Companies Struggle to Manage Their Data
Businesses have opportunities to collect data from customers regarding transactions, website interactions and more. But, according to different sources 65 percent of the businesses polled said they couldn’t analyse or categorise all the data they had stored. Plus, 89 percent knew that if they could analyse information properly, they’d have a competitive edge.
As a data scientist, you can help companies make progress with the data they gather, making it pay off for them both quickly and over time.
2. New Data Privacy Regulations Increase the Need for Data Scientists
In May 2018, the General Data Protection Regulation (GDPR) took effect for countries in the European Union. In 2020, California will enact a similar regulation for data privacy. The GDPR increased the reliance companies have on data scientists due to the need for real-time analytics and storing data responsibly.
One aspect of the GDPR allows customers to request that companies delete some kinds of data, necessitating that companies understand where and how they store such information.In today’s society, people are understandably more wary about giving up data to businesses than people from past generations. People know data breaches happen, and that they have severe consequences.
Companies can no longer afford to treat their data irresponsibly. And, the GDPR and California’s data privacy rules are likely only the beginning. Data scientists can help businesses use data in a beneficial way that aligns with those privacy stipulations.
3. Data Science Is Still Evolving
Careers without growth potential stay stagnant, usually indicating that jobs within those respective fields must drastically change to remain relevant. Data science appears to have abundant opportunities to evolve over the next decade or so. Since it shows no signs of slowing down, that’s good news for people wanting to enter the field. As job titles — and data science careers — get more specific, people studying for data science careers can start to specialise and do the work that’s most meaningful to them.
4. Data Scientists Have In-Demand Skills
Research shows 94 percent of data science graduates have gotten jobs in the field since 2011. One of the indicators that data science careers are well-suited for the future is the dramatic increase in data science job posts. Statistics show a steady increase in the number of data science jobs listed over the years.
More specifically, there has been a 256 percent increase in them since 2013, which suggests companies recognise the worth of data scientists and want to add them to their teams.
5. A Staggering Amount of Data Growth
People generate data daily, but most probably don’t even think about it. According to a study ,5 billion consumers interact with data daily, and that number will increase to 6 billion by 2025, representing three-quarters of the world’s population.
Additionally, the amount of data in the world in 2018 totalled 33 zettabytes, but projections show a rise to 133 zettabytes by 2025. Data production is on the rise, and data scientists will be at the forefront of helping enterprises use it effectively.
6. High Likelihood of Career Advancement Opportunities
LinkedIn recently picked data scientist as its most promising career of 2019. One of the reasons it got the top spot was that the average salary for people in the role is $130,000. LinkedIn’s study also looked at the likelihood that people could get promotions as data scientists and gave a career advancement score of nine out of 10.
Employees must show initiative to seize the chances to excel in data science roles, of course, but LinkedIn’s conclusions suggest companies intend to keep data scientists on their teams for the long run. If businesses didn’t view data scientists as applicable to their future competitiveness and prosperity, they likely wouldn’t offer promotions.
If you’re getting ready to work in this field or currently in the workforce, evidence indicates you should feel confident in what the future holds.