The hype around data science has left everyone asking the question that why data science jobs are in high demand these days?
Let’s see. A single flight of Boeing 787 aircraft generates up to 500GB of data. Currently, there are over 6 billion connected devices around the world generating millions of terabytes of data every single day. In India, we have close to 500 million internet subscribers simultaneously generating massive chunks of data.
From simple Google searches and Facebook posts to your e-commerce activities and map searches, you are contributing to data generation every time you access your phone.
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What happens to the data?
It comes back to you with a personalized user experience. Moreover, with emerging technologies like Machine Learning, IoT, Artificial Intelligence, and more, data is the new currency every company and market player is fighting to have a major share of. Skilled data scientists are needed more than ever globally and this is the time the world is seeing a shift from redundant skill sets to more specialized skills. Not convinced?
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The exponential rise of Data Science jobs
India just trails the US in terms of the demand for skilled data scientists. According to the reports from Analytics India Magazine on data science job studies, over 50,000 opportunities in data science will crop up in India alone. The studies further reveal that over 50% of the current IT talent pool should upskill to data science and other niche responsibilities as their skills are becoming obsolete.
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So, why are data science jobs are in high demand?
1. Data is exploding around us
Come to think of it — just a decade back, many of the products or services we use today didn’t exist online or kept their data on non-digital media.
As the business world has moved online, the data getting generated has exploded. As I mentioned earlier, there are over 6 billion connected devices around the world generating millions of terabytes of data every single day.
All this terabytes and petabytes of data are available, waiting to be tapped.
2. Technology has evolved to make data science affordable
As technology made way for faster and cheaper processing power, processors and as the Internet made its way to the masses, data generation became an everyday affair. Today, we are in a tech phase where companies are reinvesting on data scientists to uncover crucial insights rather than on redundant skill sets, resulting in an invariable requirement of data experts.
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3. The increasing number of applications of Data Science
There is no single industry today that doesn’t generate data or doesn’t rely on it. Healthcare is making use of data to provide better healthcare services and treatment agendas, agriculture is making use of data to come up with better crop yields, germinate seeds, and even control water cycles. Industries are using data to precisely predict the malfunctioning of equipment and machinery, the automobile industry is using data to provide better-connected car facilities, and more.
These are just the tip of the iceberg and data is being put to diverse uses in ways we cannot imagine.
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4. Impressive payscale and growth opportunities
Data science jobs are among the highest paying jobs today. Due to less talent available, companies are willing to pay up to 30%–50% more than for other more conventional technical roles. The Salary Study mentioned above also reveals that data science jobs salary for freshers is up to 6 lacs per annum as data scientists and experienced pros can take home up to 20 lacs per annum.
A Data Science job enjoys an additional perk. Being a niche responsibility that cannot be replaced immediately, expert data scientists enjoy better working conditions such as flexible hours and bigger pay increments.
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Want to get a job in Data Science?
This is a great time. The demand is growing fast while conventional skills are getting obsolete fast.
Thanks to more companies waking up to this technology, data science jobs in India are weighing out other IT jobs. With cities like Mumbai, Chennai, and Bengaluru leading the data science jobs scene in India, it is an ideal time to switch to a data science career.
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Are you in data science? What do you think – the demand for data science jobs will continue to rise or will reduce in the long run?
This article was originally published on The CutShort Blog.