There has been an increasing demand lately for people who can mine and interpret data – namely, data scientists. The economy today is leaning towards more analytical processing and analysis, but have always faced a shortage of people who can actually do the grunt work.
In the fast-progressing modern age, business and organisations alike have been inhaling big amounts of data as a byproduct. Data is everywhere, in everything we do: from the information housed in our smartphones down to the Tesla your next-door neighbour drives. The hypermodern world we live in is not without faults, but it must be said all the recent technological advancements have done their job to make the quality of life more convenient for regular folk.
This phenomenon has made it clear how data scientists are now needed more than ever. Even as the word “data science” has been making its rounds over the past decade, there still exist many misconceptions about what was previously hailed as the sexiest career path in the 21st century.
Due to the novelty and general inaccessibility of this profession, not many people are fully aware of how advantageous having the knowledge to understand and manipulate data is in this day and age. For clarity, you can even take a career choice test. The multitude of possibilities that are correlative to being a data scientist is seldom explored, creating a cloud of misinformation and prejudice surrounding the entire sector.
This ill-advised notion then sets the precedence for other aspiring data scientists who do not have the appropriate tools at their disposal to make informed decisions about the career path they want to choose because of its uncertain nature. They do not know that with being a data scientist professional, you can look forward to both a prestigious career and an outstanding salary to match it.
The enormous value in data processing and analysis is becoming clearer by the day, which is exactly why a step in this direction can prove to be the most valuable investment you can make starting out. Many executives in Fortune 500 companies have realised the importance of data science implementation into their services to keep up innovation and relevancy.
With the rate things are going, data isn’t going anywhere so you can be rest assured your interest in making a career out of it will still hold long after you graduate.
Luckily, many online and brick and mortar universities are offering courses specifically aimed at the many fields of data science. You only need to be resourceful in seeking out the information and know what industry you’d want to specialise in. The range of options available is evidence that what was once a specialized discipline is now evergreen and relevant to other cross-examined areas of study.
Here are some other benefits of why going into data science can be the best thing you can do for your career!
An abundance of job options
Did you know that global companies such as Facebook, Netflix, Amazon, and Twitter all rely heavily on heavy amounts of data? Due to their platform’s tailored content and personalised advertising, these mega-companies are always dealing with copious loads of data every single hour, and are almost always in need of extra hands to help them through.
This data deluge is not exclusive to social media and streaming platforms; nowadays, almost every business and industry are dealing with their own set of data to comprehend. With the immense amount of big data being generated every day also comes the increasing need for trained data scientists and statisticians who are well-equipped to gather, analyze, and interpret it all. In 2020, over 3 million new job postings were looking for professionals with data science and analytic skills.
Data science is greatly in demand and is projected to grow only more daunting as more data-centred technological innovations come to light. Prospective job seekers in this field will not be having a hard time securing a paycheck, making data science as a whole an entirely employable job sector.
Versatility of work
As data science deals with an overwhelming amount of data, it also does not adhere to a one size fits all model. There are different sets of data per industry with an independent set of data scientists who have been specifically taught how to handle it. Because of the inaccessible nature of the industry, only a select few people have the required skillset to become a professional in the field.
It is a generally less saturated industry compared to other IT sectors, making the demand for highly-skilled data scientists even greater. The good thing is you can apply data science practically anywhere, giving you the flexibility to work in almost any field dealing with data, which is to say plenty in itself. It is more commonly used in healthcare, banking, consultancy services, and e-commerce industries making the range of work you can do very versatile.
Higher starting salary
According to Glassdoor, the average salary for data scientists in the US is $120,931. If you work for a global mega-company, like Facebook, you can expect to be earning well over $200k. You are graduating from an esteemed program with in-demand software and big data skills, with no shortage of crop to pick from and industries to consider.
While the traditional route usually falls on data analysts and architects which pay a generous sum, any job dealing with advanced data mechanisms is sure to pay you just as well for your time. Business intelligence analysts are reported to earn an average of $79,613 per year, data mining analysts go for $65,470, while data strategists usually range from $57, 946 to $65,000.
The rates change depending on the job description and industry, but you can be rest assured with the popular demand for data-savvy professionals that come with being a modern world territory, your services are going to be appropriately compensated for.
Through the use of machine learning, data science has enabled industries to make an impactful change in various sectors such as healthcare and medicine. It has managed to create a system that can more accurately diagnose patients, detect early signs of terminal diseases, and produce more viable test results. The work you will be doing through your skills will be transformative and make a lasting impact. The trade-off of spending all those years learning difficult algorithms and codes will be well-spent knowing you are making genuine change for the better.
Aside from healthcare, e-commerce websites also make use of data science to create a more accurately tailored recommendation system. It can match your preferences with the existing company products with more precision, giving you more customised suggestions better suited to your likes. Data science has enabled computers to understand human-behaviour and make data-driven decisions.
With the undeniable growth of data science spanning across several industries, so are the opportunities that present themselves for both aspiring and expert data scientists. It’s a tedious job that comes with its own set of stressful occupational hazards, but ultimately fulfilling as you can rest easy with the knowledge your work is contributing to a far greater cause than what you set out for.