The field of data science has been extremely popular in the last decade. It has managed to have a powerful position in the marketplace by providing people with opportunities to make contributions to businesses and societies. In this article, we will be discussing why Data Science is still a sought-after career.
Companies don’t know how to manage their data Companies have a lot of opportunities to gather data from their customers regarding website interactions, transactions, and more. However, the 2018 Data Security Confidence Index from Gemalto reported that about 65% of the companies weren’t able to categorize or analyze all the data that they had collected. Moreover, 89% of them didn’t know that by analyzing the information properly, they will be able to gain a competitive edge. By hiring a data scientist, you can help businesses use the data they have gathered for making progress.
The data privacy regulations have increased the demand for data scientists The General Data Protection Regulation (GDPR) took effect in May 2018 for several countries in the European Union. California enacted a similar data privacy regulation in 2020. These regulations have increased the need for data scientists as companies are required to store data and use real-time analytics responsibly. There is one aspect of GDPR that allows customers to ask companies to delete some data, necessitating that the companies know how and where the information has been stored. Now, people have become more careful than previous generations about their data being used by businesses. People know what a data breach is and how it can have severe consequences. It is important for companies to handle their data responsibly. These data privacy rules are just the beginning. Companies need to hire data science professionals so that they can use the data in a way that is aligned with the privacy stipulations.
The data science field is evolving. Careers that don’t have a growth potential become stagnant indicating that the jobs in those fields have to change drastically to remain relevant. The Data Science field is constantly evolving that results in abundant opportunities for professionals. The field is not showing any signs of slowing down and is attracting a lot of people. However, there will be one more change in the field - the job titles will become more specific. Now, a data scientist working in one company won’t be doing the same tasks as an individual in another enterprise working in the same role. When the data science career and the associated job titles become more specific, people working in the field will have to specialize and study the work that interests them the most. Many experts believe that the demand for data science professionals will reach a peak after a long time.
Data scientists have the required skills Research has shown that since 2011, 94% of the data science graduates have been employed. The increase in the data science job postings is a primary indicator of why data science is still a sought-after career. Over the years, different job boards have experienced a steady increase in data science jobs.
A significant amount of data growth Everyone is generating data every day, some of it without even thinking about it. As per a study about data growth, about 5 billion people have daily interaction with data. By 2025, this number will reach 6 billion, representing about three-quarters of the population. Moreover, in 2018, the amount of data was equal to 33 zettabytes. Projects have shown that by 2025, this amount will increase up to 133 zettabytes. Since data production is continuously increasing, enterprises need data scientists to use it effectively.
Career advancement opportunities
Data Science has been picked as the hottest career of the 21st century. The reason behind this is the high demand for the field and the income that comes with it. Another study by LinkedIn showed that data science was 2019's most promising career. The reason why it got the first spot was the high income and the likelihood that data scientists get more promotions. The job role received a 9/10 in career advancement. Employees will have to initiate and seize the chances to succeed in their data science roles. However, LinkedIn’s conclusions show that companies plan on keeping data scientists for the long run. After all, they wouldn’t offer them promotions if data scientists weren’t applicable to their future prosperity and competitiveness.
It is important to note that being a data scientist is not a fad job. The role of a data scientist relates to the current and future business needs and is highly technical with a multitude of specializations. If you are currently working in the field or planning to, you have to be passionate about the field.
The reason why the field of data science has seen such tremendous growth is because of the companies increased dependency on machines and data. The increasing data landscapes and the need for processing large volumes of data sets are what makes data science one of the most demanded jobs across the different industry verticals. Now that the coronavirus pandemic has shifted the operations of the companies towards remote work, digital interactions have increased rapidly. This has raised the reliance on machines and data. Companies all over the world are searching for data scientists and data engineers for processing, churning, and assessing data and delivering competence.
Data scientists are capable of operating between the IT ecosystem and the business and driving industries through the evaluation of complex datasets for untangling insights. Industry experts know the importance of skilled data science professionals.
Now that there are millions of job opportunities in Big Data all over the world, a career in the field of data science is a lucrative option. This is the perfect time to get started in the field with top certifications. By getting a data science certification, a candidate will be able to gain an edge over their competitors. Through data science training in Bangalore, they will develop the skills required to be the best talent in the field.