Why Is the Data Science Field So Hot Right Now?

Data science has become one of the most sought-after career fields in the last couple of years. In today's era, most organizations have niche roles for data scientists and are willing to pay competitive salaries to suitable candidates.

So, what exactly is data science? And what is fuelling this demand in the market for data scientists? Why is the data science course fee so high, and is it worth it?

 

 

Let us explore this and more in this article.

 

What is Data Science?

In simple terms, data science refers to exploring, cleaning, and analyzing data to derive meaningful information out of it. 

Organizations have witnessed a tremendous shift to technology-powered tools and platforms for enhanced productivity in the last couple of years. These resources have become central to the business operations of the organizations. Apart from the tremendous value they deliver, these platforms and tools also generate tonnes of data.

It is in this data that a lot of valuable information resides. This information helps the organizations to understand the market, consumer behaviour, the success ratio of their campaigns, and pretty much everything. In many ways, data has become the backbone of organizations in today's time.

Data scientists are the people who help them uncover the treasure trove of truths that lie hidden inside the crude data. 

To understand it another way, consider data to be the form of communication between objects similar to what language is for humans. Data science involves using advanced mathematics and computers to interpret this language into a form that is comprehensible to humans.

A course in data science enables you to understand and implement these at your work smoothly. The data science course fee is an investment you make in yourself for bright future prospects.

 

Why is Data Science Jobs Hot Right Now?

As per Glassdoor, Data Scientist jobs are one of the highest-paid roles in the market. The average salary for a data scientist in India is ₹854,985. So, what is fuelling this demand? Let us find out.

 

Companies are sitting on piles of data

In the 2000s, organizations shifted their workplace to a virtual world. They were adopting technology and replacing it with the archaic way of doing jobs mechanically. Ever since the transition started, organizations have been generating streams of data logs. For a long time, they did not know what to do with it as the data was unorganized. However, they knew one thing for sure. It was that this data was of rich value to them. Data scientists help them with exactly this- to make informed decisions. 

 

 

Artificial Intelligence is everywhere

The ongoing wave of AI has revolutionized the industries and how. With machines that can simulate human intelligence, companies are finding innovative ways to use Artificial Intelligence to find easy solutions to complex solutions.

From healthcare to retail to HR, Artificial Intelligence is everywhere, and data science is a crucial part of it. It won't be wrong to say that AI tools will not work the way they do without data science. It is the reason large organizations are pumping millions into their data science stream.

Google is one of the best examples to understand this. Almost every product that Google owns is a by-product of studying and interpreting data. For instance, Google Maps is an outcome of the accumulation of data from satellite imagery, cameras at traffic signals, GPS on mobile phones, and real-time data sources.

 

Small companies need them too

Did you know that Starbucks closed down hundreds of its outlets in 2008? After that, the company decided to pursue data to identify profitable locations for their future outlets. They now work with a location analytics firm to consider factors like traffic patterns and demographics in the area to this effect. 

It is not just the large organizations that require data scientists. Smaller companies that are just starting out need them all the more. They need it before launching their products to understand the market need and customer sentiment. Moreover, data-driven judgments give them more confidence and replace gut intuition when making crucial business decisions. 

 

The X factor

Harvard Business Review hailed data scientists as the sexiest jobs of the 21st century. With most organizations needing them, the world is your oyster if you are a data scientist. Apart from the fact that there is no scarcity of opportunities, the scope is unlimited. It is a career line that can land you a job at your aspirational organizations like Apple, Facebook, Google, or pretty much anywhere.

If you advance in the fields of machine learning, artificial intelligence, or big data, you create a niche for yourself. As there are not many experts available in the market, you can become a sought-after candidate. As a result, the job of a data scientist comes with immeasurable repute.  

 

Anyone can explore it

As data science is a relatively new field, there are not many experts in the market. Seeing the demand for them, several people with varying backgrounds are taking the plunge into it. For instance, several current data scientists studied mathematics/statistics, computer science, engineering, economics, social science, and business before they ventured into this field. If you are keen on exploring a career in data science, all you need is a willingness to upskill yourself and a problem-solving mindset. A data science course will equip with the skills to contribute in your role effectively.

 

Multiple Roles and Jobs

In today's time, all the sectors like manufacturing, medicine, EdTech, banking, etc., use data in some form or the other. As a result, there are a plethora of jobs available across geographies and industries. Moreover, every department is keen on using data and analytics to deliver a better output.

As a result, there are multiple roles available within the realm of data science. For instance, Data Architect, BI Engineer, Business Analyst, Data Engineer, Database Administrator, Data- and Analytics Manager are a few roles in high demand. 

 

Conclusion

Data science is a field that is not just hot right now. With the tremendous pace at which organizations are adopting AI and ML, the trend will continue well into the future. With a career in this field, you will not only stay relevant in the market but also stand the possibility of growing to higher positions. 

 

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