Data Science 101
In a world where 2.5 quintillion bytes of data is produced every day, a professional who can organize this humongous data to provide business solutions is indeed the hero! Much has been spoken about why Big Data is here to stay and why Big Data Analytics is the best career move. Building on what’s already been written and said, let’s discuss Data Science career opportunities and why ‘Data Scientist’ is the sexiest job title of the 21stcentury.
Data Science Career Opportunities
A Data Scientist, according to Harvard Business Review, “is a high-ranking professional with the training and curiosity to make discoveries in the world of Big Data”. Therefore it comes as no surprise that Data Scientists are coveted professionals in the Big Data Analytics and IT industry.
With experts predicting that 40 zettabytes of data will be in existence by 2020 (Source), Data Science career opportunities will only shoot through the roof! Shortage of skilled professionals in a world which is increasingly turning to data for decision making has also led to the huge demand for Data Scientists in start-ups as well as well-established companies. A McKinsey Global Institute study states that by 2018, the US alone will face a shortage of about 190,000 professionals with deep analytical skills. With the Big Data wave showing no signs of slowing down, there’s a rush among global companies to hire Data Scientists to tame their business critical Big Data.
Data Scientist Salary Trends
A report by Glassdoor shows that Data scientists lead the pack for the best jobs in America. The report goes on to say that the median salary for a Data Scientist is an impressive $116,000 and there are over 1,736 job openings posted on the site (Source).
On Indeed.com, the average Data Scientist salaries for job postings in the US are 113% higher than average salaries for all job postings nationwide, as of February 2016.
Data Scientist Job Roles
A Data Scientist dons many hats in his/her workplace. Not only are Data Scientists responsible for business analytics, they are also involved in building data products and software platforms, along with developing visualizations and machine learning algorithms.
Some of the prominent Data Scientist job titles are:
- Data Scientist
- Data Engineer
- Data Architect
- Data Administrator
- Data Analyst
- Business Analyst
- Data/Analytics Manager
- Business Intelligence Manager