In every industry, data science is a game changer. With the digitization of processes, we can see immense increase in the amount of data. Therefore, data science tools and technology is deployed for higher productivity in different organizations. As a whole, this technology field offers a few great opportunities for analytics, machine learning, data mining and big data.
Since the role of businesses and service providers is to help solve problems, data science can help analyze a lot of data for quick and efficient resolution of problems. A few years ago, the engineered solutions were not able to offer these benefits.
Aside from this, the advent of ML algorithms and predictive analytics has enabled predictive maintenance in the industry. And the good thing is that we don’t see any signs of negative growth in the industry.
The world has been experiencing a lot of demand for the services of data scientists in a lot of fields. According to market researchers, the field may experience tons of growth down the road.
With the increased demand, new job seekers and talented pros are using their skills in this field. Besides, data technologies are giving birth to a lot of job opportunities for new professionals.
In India, for instance, the number of jobs are expected to hit 1.5 lack by the end of 2020. This is an increase of 62% compared to the previous year, says a report released by Great Learning. In this sector, around 70% job posts are allotted for data scientists who have less than 5 years of experience.
According to the co-founder of Great Learning, Hari Krishnan, organizations across different domains adopt new technologies to sustain their relevance and competitiveness in the market.
Since tons of data is being generated, more and more professionals are needed to get actionable insights for better business decisions. So, the good news is that the demand for more and more professionals is on the rise in India.
As a result, professionals are joining this field in order to upgrade their skills and meet the industry needs. The year 2020 is going to see a great increase in the number of data scientists.
Aside from this, sectors that are offering an increasing number of these jobs include retail, media, ecommerce, healthcare, energy, and BFSI. The average salaries are up to 14 LPA.
Great Learning also described that these sectors are facing a big problem, which is the shortage of skilled professionals. According to a research study, around 97,000 job posts related to data and analytics were vacant because of the shortage of qualified talent.
According to experts, the advantages offered by data science jobs encourage young talents to be part of the league for fostering the advancements down the road. Besides, the report also presents a lot of career paths for data science professionals, business intelligence developers, data engineers, data analysts and scientists.
In short, this is how data science offers a lot of opportunities for businesses across the globe.