Why Delve Into Data Science
“Data is the new gold mine!” The statement holds huge significance when it comes to today’s business world. The current corporate arena is largely operated based on data-driven decisions. You might be surprised to know that each day, about 2.5 quintillion bytes of data is being generated. That’s certainly a massive amount, isn’t it!
Now just think what would happen if owing to some system malfunction or any other issue, all this data gets lost. It would be a huge mess for businesses and would cost them a lot. This is the key reason why there is a substantial demand for Data Scientists in the job market.
In fact, the job profile of a ‘data scientist’ is already declared to be the most sought after profession in the 21st century. It’s hence the right time for you to ride the growth and build a career that you will be proud of.
Wide Acceptance of Data Science
With Big Data being implemented in almost all spheres of our lives and in the near future, there wouldn’t be any business organization that can afford to ignore the importance of data science. If they do, chances are high that they would lose out on their competition. Smaller companies with adequate data handling skills will triumph over larger corporations with limited data knowledge and experience. Even the start-ups are not losing any opportunity of making data-based decisions.
The business world has very well understood the relevance of data science in the modern scenario. If this enormous pool of data can be examined and calculated using a scientific approach, it can help the organizations derive meaningful conclusions, which directly means better business decisions, more profits, higher ROI.
More Data, More Jobs, More Salary
Be it start-ups or giant corporations, no company exists in the modern age that doesn’t rely on data and analytics for taking business decisions. As per the reports published by McKinsey Global Institute, about 40 zettabytes of data would cover up the internet by the year 2020. This will facilitate a sharp rise in demand for Big Data and Data Science professionals.
With more time, the popularity of Big Data shall reach a new level as more companies would start adopting this lucrative opportunity for business growth. With the high demand of qualified professionals and lower supply of the same, as per the economic principles, the salary structure would be quite attractive. It is a given fact that the data scientists are the ones who get higher paying jobs as compared to other engineers and people working on similar job profiles.
Besides, when we are talking about data, how can we miss the opportunity to show some data related to the profession of a Data Scientist? According to a report published by an online education portal, there has been a dramatic rise noticed in the listing and application for jobs related to Data Science. There is a whopping 200% year on year increase in search for ‘Data Science’ jobs, while at least 50% year on year rise has been noticed in the listing of such job requirements. It is hence, evident that Data Science is here not only to stay and survive but to thrive and rule.
Higher Salary Potential
Data Analytics skills are the demand of the hour. Almost every industry is in dire need of skilled professionals who have adequate knowledge to manage the data properly and conclude to meaningful results that will enable businesses to take their operations to an entirely new level. Having said that, it is pretty clear that only trained professionals can gain maximum exposure in this data-driven era and enjoy greater salary structure.
According to a research report published by an international organization, the average annual salary of data scientists globally in the year 2015 was $130,000. Now, the demand has grown even higher, and the salary structure has also increased to a greater extent. The most interesting factor is that Data Science is not only popular in countries with large corporations, but other foreign markets are also seeking highly trained professionals. Hence, if you have the talent and relevant knowledge and are ambitious enough to grow and succeed, Data Science offers you the perfect opportunity to realize your dreams.
Article by TimesPro