Is Data Science a Best Career Choice?

The days of merely becoming a computer science engineer and being a source of substantial income are long gone. The Economist made news in 2017 by claiming that data had replaced oil as the most valuable resource in the world.

Now, at first glance, this comparison might seem a little strange, but if we look closer, data has now supplanted oil as a significant asset for businesses, just as it once was for individuals. The demand for data scientists has increased as a result of tremendous technological advancement throughout time.

Many educational institutions in India offer data science programs, and many private businesses are trying to hire data scientists. As a result, those who desire to work in this profession have various options. Data Science is undoubtedly one of the most promising industries in existence today. The need for data scientists will only grow in the future with all the technological and digital transformation that is taking on.

Data Science and Data Analytics

Data engineering, machine learning, data analysis, data mining, and data visualization are all components of the multidisciplinary discipline of data science. Data science implies gathering, purifying, analyzing, and altering vast amounts of data.

Data science is a subset of data analytics. As a result, it is a specialized field that requires gathering and sorting data according to its complexity. It employs a variety of algorithms and strategies to analyze raw data and derives insights.

A Career in Data Science in India

Is data science a lucrative profession in India? This is a common question.

Presently, industries like travel, healthcare, education, the stock market, and e-commerce are slowly adopting data science and artificial intelligence.

If you have experience working as a data scientist in India, you may be able to transition into other positions like

Data architect,
Data engineer,
Data analyst.
Intelligence analyst for business
Admin of a database.

Becoming a Data Scientist

Students and professionals in the IT field who want to work as data scientists have taken computer science or IT courses. To further their skill set, some have additionally completed comprehensive data science courses and a master’s degree in the area.

It is interesting to note that many students and non-IT professionals are interested in machine learning, data analytics, big data, and artificial intelligence since they see the prospects growing in these fields. Here are some skills that data science professionals should develop:

Investigative Data Analysis (EDA)
Structures for Big Data
the ability to program in Python and other languages
Statistics
rational and statistical thinking style
understanding of data processing, exploration, loading, and transformation
Deep learning

Having good communication skills is an added advantage.

How to get a Job as a Data Scientist

Study Mathematics.

A strong command of computational abilities might make you stand out from the competition. Calculus and algebra are used in machine learning (ML) and deep learning; thus, knowing them is a bonus. A solid understanding of statistics and probability is also advantageous because it helps to conclude and visualize data.

Foundational knowledge

Building and deploying machine learning models are crucial to understanding data science. Several institutions offer free practical training.

Learn how to Program.

Learning programming languages widely used in data science, such as SAS, Python, JavaScript, Hadoop, and R, will give you an advantage over others because you can efficiently complete your work by utilizing a few lines of code.

Research the Area

To master the skill of transforming unstructured data into actionable insights, you must engage in various online competitions and supervised hackathons. Top data science businesses place a lot of emphasis on publishing work on GitHub under directed supervision.

Is Data Science a Start or a Finish?

Given what we already know about data science, the question of its future viability emerges.

Very is the response. Data reigns supreme. Think about it. Local grocery stores were still utilizing data science to determine which products were selling well and which were not 25 years ago when the internet was merely a concept for the future.

Using this information, they would order the subsequent shipment of food. This was data analysis, even if it was done in the crudest possible manner. Consequently, when machine learning and artificial intelligence (AI) are used, this analysis is becoming more and more advanced since the invention of the internet.

Additionally, an essential marketing strategy will understand consumer behavior when the economy changes. In this scenario, the data collection explosion is just around the corner.

Because of the data-driven nature of the modern world, there will always be a demand for qualified data scientists.

Upcoming Trends in Data Science

The following are some intriguing Data Science trends that could develop into future Data Science trends:

• Chatbots, augmented reality, and virtual reality combined with AI/ML applications enhance marketing and customer service through product visualization and live demos. Data science will deliver a personalized experience for customers.

• The Internet of Things (IoT) links all smart things, software, and people, building an intelligent Digital Mesh and synchronizing them. With data science applications, the future is far more sophisticated.

• Many industries and enterprises will undergo radical change due to automation in machine learning and predictive analysis, taking them to new heights.

• Blockchain technology will play a crucial role in the banking, healthcare, insurance, and finance sectors.

• Data science has the potential to advance public health through wearable trackers by encouraging people to adopt healthier behaviors. People will be made aware of critical health issues through this.

The Data is growing with the passing years and will continue to grow. The power of the data can bring a revolution in the future, creating a high demand for Data Science with the evolution of technology.

#1 Recruiters of Data Scientists

The companies where data scientists can work are –

Google
Apple
IBM
Amazon / Accenture
Morgan Chase & Co.
Microsoft

Pay Slope

Professionals in data science with the necessary abilities and desirable expertise can earn significant sums. In India, the average compensation for a data scientist is Rs. 798,413; for a data analyst, it is Rs. 417,007.

An entry-level data scientist with less than a year of experience makes approximately $85,796, those with 1-4 years of experience make approximately $94,229, those with 5-9 years of experience make approximately $108,508, and those with 10–19 years of experience make an average total salary of $120,501 [Source: Pay scale]. Even so, the pay for various profiles also varies according to quality.

Conclusion

By 2035, artificial intelligence will have contributed almost $1 trillion to the world economy, according to a NITI Aayog estimate. It is anticipated that this disruptive technology will soon revolutionize industries and ways of life. Not only that, but a study by EY and NASSCOM predicts that by 2022, 46% of the workforce will be employed in entirely new occupations that do not exist at the moment.

As a result, data science and artificial intelligence have taken over more and more aspects of human life. Notably, there are several potentials for many sectors in data-based research. For the sake of the economy, industries might take advantage of this chance and modify their business strategies.

New course announcement! Math for Machine Learning and Data Science.

Designed to make learning AI's math easy:
∙ Linear algebra
∙ Probability & Stats
∙ Calculus

Will help learners build better ML systems and pass job interviews! https://t.co/bM70tPieXO
— Andrew Ng (@AndrewYNg) December 14, 2022