Five Reasons Why Data Science is the Career of the Future
“In the coming decade, data will be at the heart of transformative technologies that will affect every sector, creating new possibilities for healthcare, financial services, education and industrial manufacturing.”— Alok Ohrie, President and MD of Dell Technologies, India By 2025, Asia will have 170 zettabytes (1 zettabyte is 1 trillion gigabytes) of data. And enterprises alone will contribute 60% of that.
With increasing digitisation in India and smart technologies becoming smarter, data has become a key business asset. To remain competitive, every company needs to leverage its large quantities of data, use analytics, and build new technologies. And to do that, they need data scientists — professionals who can gather and analyse big data to create solutions and make predictions. Given the affordable data science course fees in India, the opportunity to learn by yourself, and the many resources available to you, you can be a data scientist in no time.
If you’re still on the fence about choosing a data science career, here are five reasons why you should consider it seriously (more on data science here).
Data Science: Career of the Future
Data is revolutionising the way companies operate. It’s no surprise that the global Big Data as a Service (BDaaS) market is expected to grow from $11.3 billion in 2019 to $42.7 billion by 2024. While there are several reasons for this growth, we’ve picked the top five to show you how data science in business will transform the future.
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#1 Data Science Informs Business Decisions
You’ve probably noticed that Netflix has been releasing tons of Christmas content in 2020. They know this is what their audience wants: Data scientists at Netflix collect data on what searches you’re performing, what summaries you’re reading, how long you spend browsing the titles, what you’re watching, and even whether you finish what you start. They look for trends and patterns in these large amounts of data that they use to further dictate what content they should invest in. And as they grow their catalogue, they also use data science to direct their marketing strategy and attract new subscribers.
Data has the answers to every question that a business might have. Data scientist jobs are about identifying trends from the data to make suggestions and improving productivity across the organisation. They also make projections to anticipate future needs using predictive analytics.
#2 It Helps Define Goals
More and more airlines are turning to big data to become eco-friendly. But what does “eco-friendly” mean in this context? How can they quantify this? How will a flight company know when it’s achieved its goal of becoming eco-friendly? Maybe it’s fuel efficiency. It could be lower carbon emissions. Or faster, quieter airplanes. Or perhaps it’s a healthy combination of all of the above. General Electric arriving at the right answer is a great example of data science in business.
Once they’ve detected trends and patterns, data scientists help businesses set realistic and meaningful goals and business objectives. This gives the data strategy a clear direction.
#3 It Highlights Unseen Opportunities
Data is analysed, trends are revealed, goals are set. Now what? For Viacom18, the next step was to identify opportunities for further growth and improvement. This media giant has consistently used data science to upgrade its operations. One of the ways they wanted to optimise was to shorten their go-to market timeline — the time by which they launched their products for their audience in a competitive manner.
They used data science to set new goals and implement technologies that would help them achieve these goals.
#4 It Powers Evidence-based Decision-Making
In October 2020, IBM struck a deal with Vodafone Idea Limited to manage the telecom giant’s big data platform across its network. By using data mining, IBM develops a “modernised and future-ready data platform which is helping Vodafone Idea get daily actionable insights, with its strategic and operational level decisions very effectively.”
Vodafone Idea’s aim here is to leverage its monumental quantities of data into actionable insights that could drive their strategy. This will help their employees make data-driven decisions. This, in turn, will help the employees provide the best customer service.
#5 It Helps Testing and Improving on Decisions
With the growth of online education in India, especially in 2020, data science has become an important player in designing courses and delivering the best experience to students. Big data is crucial in finding out what skills and courses students need to succeed. This data is then used to design courses — which are then tested, refined, and customised to better address student needs.
Data scientist jobs aren’t just to build systems to help make one decision. Throughout a data science career, they would construct algorithms, models, and projections to arrive at multiple viable solutions to the same problem. They use data to choose the result that will provide the business with the best possible outcomes. The key metrics coming out of data science in business then helps the organisation understand how these decisions impact their growth.
Data Science Jobs: What Does The Future Hold?
All these reasons go to show that data science is truly the career of the future. Businesses have access to great amounts of data on their customers and operations. But they need data scientists to make the most of this data and turn it into value. And this means more data science jobs across industries.
But in India, NASSCOM predicts, there will be a glaring shortage of data science professionals: The talent demand-supply gap will only widen exponentially by 2021.
The versatility and importance of data science in business proves that this is going to be the decade of data — or as NASSCOM puts it, “Techade” — with the economy continuing to evolve into a data-led one. The future certainly looks bright for data scientist jobs.
Data Science Course Fees in India
Is it entirely possible to self-learn data science using books, videos and free mass open online courses (MOOCs). However, in beginning your data science course, time is of the essence. Data science course fees in India ranges from a few thousand rupees to several lakhs.
Since you’re here…
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