Top Reasons why Data Science might be the Right skill to Pursue Amid Lockdown
Ever since the first lockdown, acquiring a job or even sustaining an already existing job has been a difficult task all over the world. Nevertheless, Data science is a stream that is booming and expected to grow even more in the future.
We live in the digital age where it has led to the data era, an era in which data has become a material that is more worthy than oil and gold. Daily, the amount of data globally produced is extraordinary and is predicted to keep on increasing as access to the internet reaching more parts of the world.
The amount of data stored on platforms is just enormous for examples Google searches/accounts, LinkedIn, Instagram, YouTube, Twitter, Facebook, Amazon, Netflix, online/offline government forms data, healthcare data, and finally telecom data through text messages, voice calls, etc. Hence data mining, data analytics and science are very essential. There are several free platforms for learning about data science such as Coursera, Udemy, DataCamp, YouTube, edX, etc.
In India the national average annual income for a data scientist is INR 6,50,000 and, in the US, the national average annual income for a data scientist is $1,20,931 while in Europe, the national average annual income for a data scientist is €52,000.
Here are the top reasons to pursue data science:
Increase in Demand
All over the world, there is demand for data science and data science related jobs are creating hype. According to a report by McKinsey & Company, there are around 140,000 to 180,000 fewer data scientists than needed in the US. The supply is insufficient, meanwhile, the demand for data science is rising. The requirement for data scientists is over 2,00,000 in India.
High-pay Salaries
Data science is one of the fields with the highest salaries. In India the national average annual income for a data scientist is INR 6,50,000 and, in the US, the national average annual income for a data scientist is $1,20,931 while in Europe, the national average annual income for a data scientist is €52,000.
Advance Business
Data will be a key asset to a company and data science plays a vital role as it serves in strategic planning and risk analysis to the management. The analysis of the data for a valuable resource that can help advance the company's niche, identify the preferred target audience and manage future marketing.
Progressing Field
Data science is growing rapidly as there is a rise in demand for data around the world. Data scientists consist of several technical skills that can strengthen the data and information to help organizations make better strategic decisions. Various other fields are co-related to data science and prominent parts of data science that are growing in demand are Big data, Artificial intelligence (AI) and Machine learning (ML).
Various Job Opportunities
Data science is one of the most demanding jobs today as well as in the coming future. Organizations are yearning for data scientists as data scientist's demand is high and the supply is not sufficient. Among all the fields, data scientists are being hired by the companies and even several start-ups are depending on data science.
Data science is the field that is helping out businesses to get closer to their customers to bring them effective services and to recognize their markets and make better decisions. Data Scientists are the ones who collect, store and organize the data with their acute skills. Aspirers who wish to study data science and choose their careers as data scientists should be prepared to commit to work hard and deliver good performance.
