Interested in a career in data science? Although Discover DataScience.org recommends it as a lucrative, in-demand, and steadily expanding field, you'll find that this prediction is shared by all leading resources and authorities. In fact, data scientists have been named the "number one job in America" for four out of the last five years, and they are still in third place today, according to Glassdoor.
Exactly what is data science ?
Before we respond to the question of why you should become a data scientist, it is worthwhile to spend some time discussing the specifics of this career path. Data scientists are required to acquire experience in a multitude of fields concurrently. Mathematicians, computer scientists, and business strategists make up this group. Due to their complex skill set, data scientists must constantly have one foot firmly planted in the business world and one in the information technology sector.. Because of this, becoming a data scientist is one of the best career choices you can make. This skill is in high demand.
A professional data scientist must have both the statistical expertise and computer abilities necessary for taking on difficult issues because data science is largely focused on deep knowledge discovery through data exploration and inference. This field of research focuses on applying mathematical and computational methods to some of the most analytically challenging business problems, utilising vast amounts of raw data to uncover the knowledge that lies under the surface.
1. Increasing Demand
For much of the past decade, data science has been continuously ranked as one of the most in-demand areas, and this trend shows no signs of slowing down. In actuality, the U.S Through 2031, the Bureau of Labor Statistics (BLS) predicts a 36% increase in employment in the field of data science. According to LinkedIn, nearly 151,000 data scientists are needed nationwide, with the greatest shortages in the metro areas of New York City, San Francisco, and Los Angeles.
So What makes data science such an attractive career choice? Take a look at the world's most powerful and influential companies. You probably immediately thought of business giants like Amazon, Google, Apple, or Facebook, each of which depends heavily on making decisions based on data.
Amazon uses data analytics to power sales and marketing algorithms, recommending products to customers based on their previous purchases and browsing behaviour. Google Search evaluates webpage rankings and SEO value using data, considering both the user experience of online assets and the accessibility of material. Apple makes product selections based on how and when customers use their iPhones, iPads, Macbooks, and other devices.
Facebook collects data in order to show you highly relevant adverts and to enhance interactions between users and communities. The data we collect influences all of these and other decisions, and data scientists are in charge of influencing those decisions.
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2. Have a Significant Effect on Your Business and the Environment
One of the most compelling (at least globally) reasons to pursue a career in data science is the impact you can have as a leader in the field, both within your organisation and on the rest of the world.
You can try to automate time-consuming activities within your own company, saving the company time and possibly thousands or even millions of dollars that could otherwise be allocated to other projects. We'll discuss how corporations in modern sectors are well aware of the enormous value that data scientists provide and how heavily they rely on them. Data scientists are thus well positioned to serve as the go-to strategists for organisations, whether they work for a small start-up or a global behemoth like Amazon, Apple, or Uber, all of whom are continuously on the lookout for skilled data scientists..
Although many data scientists work in finance or for large IT firms, there are many other industries where you might utilise your skills.. The field of understanding human nature is where data scientists spend the most of their time, looking at what makes people tick and why they don't.
3. An Always Changing Field
The most valuable resource on earth, according to The Economist, has been supplanted by data. This can very well be the main driving force behind seeking out a data science position or degree. The reason it's at number four on this list is because, in contrast to what we described above regarding data science's gradual trickle into the public school curriculum as a stable subject and career industry option (i.e., required "economics" classes that establish a general understanding and ignite professional passions and interests of future economists), this fact is comparatively unknown to future or emerging students and experts.
The presence of data science in conventional education does not yet correspond to predictions of its importance to or contribution to our society, including the number of jobs available to graduates.
According to estimates, 97% of all businesses typically use it when making strategic decisions. The incredible number of fresh, practical insights that businesses are gaining via the usage of data about their existing and potential consumers is what is driving the everyday development of the field of data science.
4. Basic Pay that Can't Be Topped (Plus Benefits!)
Due to the lack of qualified workers in such a young and in-demand field as data science, salaries and growth opportunities will inevitably be quite competitive. Data science is not an exception. As of May 2021, the BLS reported that the median annual salary for data scientists was $100,910. Even while that may already be a high enough figure, the BLS reports that the top 10% of data scientists can make more than $167,040 yearly.
Naturally, you can anticipate the salaries to climb significantly once you devote the effort to properly establish yourself as a mid-level data scientist or even take on a managing job. This can be fairly close to the BLS wage forecasts at a prestigious corporation. Not only that, but many firms will also provide sizable annual bonuses and even shares or stocks as extra benefits, especially for a position as important as a data scientist and the link between the work that is produced and the success and general profitability of the business.
5. Several Opportunities for Career Development
We believe we've shown why a career as a data scientist is highly gratifying, but ultimately you may feel the need to move on to a different position. With a foundation in data science, you'll be well-positioned to flourish in one of the most diverse ranges of subsequent professions in any business.
If you choose to continue only in the data science field, you may always rise to senior or lead data scientist positions in management, which can pay you tens of thousands of dollars more while giving you more authority and the chance to direct the work your organisation is doing.
But, there are other ways to go.Data science is not simply an IT position, as we've mentioned; it's also a business role. Working with C-suite executives, data scientists frequently interact with the VIPs at their organisation. Along the process, they address business difficulties and grow their network of contacts while working with the company's true executives. As a result, a lot of data scientists go on to work in executive positions like chief data officer.
But, because these positions often don't involve much data work on a daily basis, you should seek data degree programmes that align with your expected future aspirations in the sector.
In the end, the decision is yours since after working in the data science sector for five to six years and having results to show for it, you might be able to write your own ticket to wherever you'd like to go within the sector. To get into data science in the most flexible way then, this Data Science course training in Delhi will help you to become a data scientist in your selected domain.