The choice of subjects should be majorly governed by industry demand, job prospects as well as the personal interest & skillsets of the individual. There have been multiple studies claiming that data science and machine learning are two of the most sorted jobs across the globe. More so, there’s extremely positive sentiments & growth prospects expected in the field of data science for the upcoming years.
Therefore, if an individual has a knack of problem solving through mathematical & statistical methods – then data science could just the best option.
Data science has dominated the last ten years. Data science has an impact on practically every business nowadays because every firm relies on data.
The highest-paying job of the twenty-first century has been termed data science. But why is data science causing such a stir in the market? Why are Data Scientists so well compensated? And why do organizations require data science in the first place? In this article, we’ll discover out.
What is Data Science ?
Any company’s data is a precious asset, but it’s worthless unless it’s put to good use. The process of translating unstructured data into actionable insights that can be used to make vital business decisions is known as data science.
why you should choose data science as a career?
1. Sky-high Salaries
Because there is a huge need for data scientists, yet there is a small supply. As a result, data scientists earn a lot of money.
According to a 2018 study, compensation increases for analytics specialists in India are about 50% more than for other IT workers.
2. Growing demand
As companies begin to recognize the value of data, the demand for data scientists continues to climb. The data science market is expected to rise to at least one-third of the overall global IT market in only a few years. Every company is searching for someone who can interpret and analyze data and convey the results in order to make better decisions.
3. Easy to Grab a Job
Because data science is such a new area, there is not only a scarcity of data scientists, but also a scarcity of competitors. According to industry research, around 40% of data scientists have less than five years of experience, and 69% have less than ten years.
Data science is booming, and it has been the most in-demand job since 2018. As of now companies require Data Scientists in huge number but the supply is scarce.
4. Plenty of work options
The most appealing aspect of data science is that it allows you to work in a variety of industries and is not only limited to financial services. Various industries for data scientists are pharmaceuticals, healthcare, consulting, retail, packaging and many more. Any company that makes decisions based on data is an opportunity for you.
5. Challenging Work
Data science is a synthesis of many fields such as statistics, computer programming, and mathematics that necessitates the acquisition of new skills on a regular basis. Furthermore, this isn’t a monotonous job where you’ll be doing the same thing over and again. Each fresh collection of data will present you with a new challenge.
6. Data Scientists are Highly Prestigious
Companies rely on Data Scientists’ expertise to help them make more informed business decisions. It raises Data Scientists to executive-level positions within a company.
7. Evolving Field
As a result of the vast volumes of data being collected, Data Science is evolving at such a dizzying pace. Data scientists have a wide range of skills that allow them to make use of data and information. This also aids businesses in making better strategic judgments. Artificial Intelligence (AI), Machine Learning (ML), and Big Data are just a few of the intriguing new topics in data science.
8. Data Science is the Career of Tomorrow
With each passing moment, businesses are becoming more data-driven and innovative. Data is being generated at an increasing rate as more individuals begin to use the internet. Per person on the planet generates around 1.7MB of data every second, according to estimates.
Conclusion
Data science not only aids firms in making better decisions, but it also aids them in spotting new opportunities. Data science is also supporting organizations in gaining a better understanding of their customers in order to better serve them. Data Scientists are modern-day superheroes that collect, cleanse, and organize data using their particular skills.
Data science has the potential to revolutionize industries and society. Raw data is given meaning by data science, which transforms information into actionable insights that may be used to expand a business and spot market trends.
Data Science has become a lucrative career due to a scarcity of specialized Data Scientists and a high demand.