Data science is in great demand. Not only is the demand for it rising, but its uses in business are becoming more and more evident by the day. The main reason for this fact lies in one primary thing: competition. If your competitors are studying data-driven decision-making tools and you're not, they will have a leg up when it comes to beating you at your own game. Companies have no choice but to adapt by employing data science as the same logic applies to them as well. As students, you stand to risk being left behind if you do not consider a specialization in Data Science.
Data science can be described as the science of extracting hidden insights from data by performing advanced data analysis. It incorporates statistics, computational thinking, machine learning, and artificial intelligence techniques!
Those who practice data science are called data scientists. They combine math, computer programming, and creative thinking to analyze vast amounts of data collected from the web and other sources. The suitable person for this job will be adept at handling large datasets from the web, customers, sensors into actionable insights.
Data scientists have expertise in collecting and organizing data to provide insight and direction for any given business. They can also conduct important market research that helps a company make advanced decisions about consumer behavior, for example. Their job is to take a look at the raw data accumulated, filter it down, organize it and apply their training and experience to determine what kind of trends are involved. They're the best idea-generators a company is going to find because they don't just have an advanced understanding of marketing; they know how technology works too!
A good part of getting into data science as a career is the satisfaction you can get from helping to shape the future of a business. You can work toward automating tasks that were previously manual, saving the company time and money and allowing them to move forward with creative projects like funding new products or improving their advertising methods. You'll have a well-rounded perspective after being exposed to so many different aspects of the business. As a result, potential employers see value in working with data scientists because they can offer intelligence in multiple areas.
Data scientists who really demonstrate this sort of skill and care should also have no problem finding roles at companies like Amazon or Uber, as data science strategy plays a vital role in any proficient business venture.
Amazon employs complex data analytics to drive sales and marketing decisions, recommending products to customers based on past purchases and site behaviors. Facebook makes use of data to show you stunningly precise ads – so precise in fact that they know what kind of shoes you're most likely to buy based on your shared interests.
The collection of data informs all of these decisions and more, and it's data science professionals who are responsible for influencing those decisions by making sure they get the relevant statistics, so they can make informed choices that satisfy their customer base. Most companies today rely heavily on improving the way they use information through big data analytics - which is why so many businesses demand experienced data scientists on the market today!
The market for data scientists is high, and there are a lot of things to consider if you want to pursue one as a potential career option. The talent supply for these job titles, especially data scientists, is extremely scarce, and the demand is huge, so it should come as no surprise that there are plenty of competitive opportunities out there at present. In order to make your way through this competitive landscape, you need to know what parameters you will have to take into account in order to keep up with the marketplace!
The impressive thing about the data scientist role is that there are a variety of roles within the discipline, with each offering its own unique perks, including the ability to work remotely and across various departments in a given organization. You'll enjoy higher salaries as you progress professionally, and many companies will generously reward you by giving you bonuses or even shares or stocks!
Data science has always been and will continue to be an industry that presents itself with the need for continued development. In the end, that continual evolution will create more roles and open new doors for workers to enter. The ability of this field to bring together so many different fields like data mining or data analysis shows just how much this industry is affecting everything around us.
Advancements in technology are shifting the standards for the workplace. You should take this opportunity to reinvent yourself and get your foot in the door with today's growing fields of data science, AI, and machine learning. The 10-year mark from now may look back at you as one of those early pioneers helping to lay down the groundwork for these long-lasting changes.
As companies increasingly automate their functioning processes, they are always on the lookout for people who can take the stress out of this transition. Data scientists have become a much-needed part of the workforce in many organizations because data science is quickly becoming one of the most vital aspects to any business, don't procrastinate taking on this career - it's the future!
Karun Tadepalli is the CEO and Co-Founder of byteXL, an online platform for self-learning coursework and guided training. He has been working in the tech space since 2003 before starting byteXL he was with Accenture as Head of Engineering where he led engineering teams to build platforms that accelerated modern web apps in Emerging technologies such as AI/ML, IoT, Blockchain and Full stack development.