Data science — a great career choice for a modern professional
Back in 2012, data science was hailed by the Harvard Business Review (HBR) as the “sexiest job of the 21st century”. It is a popular buzzword, yet few people know what it truly involves.
A data science professional looks at the source of information, how it fits to tell a useful story, and the implications therein for business outcomes. This can take the form of classification, clustering, projections through econometric and statistical models, simulations, or more, using rigorous data analysis and trend identification to predict user behavior, and conveying the results via summarization and visualization.
Why are data science professionals in demand?
The requirement for insights from data comes from the increased usage of big data, the Internet of Things (IoT), and cybersecurity by companies of all sizes. These companies therefore have expanded their usage of data analytics, given that it takes a larger view than other fields of study. It aims to inform customers as well as to help business strategize about how to engage customers and sell their goods or services.
Advantages of data science
· As a career:
o High demand for professionals.
o Diverse roles: No one person has every skill a data science professional could need; hence, there are several roles corresponding to different skill and responsibility buckets.
o Well paid: A very lucrative and one of the highest-paid career options.
o Applicable across sectors: These professionals are in demand from several different sectors.
· For companies:
o Improved data quality: Data science takes unorganized, raw data and converts it into a more usable form.
o Versatile: Data science can be used in several industry verticals — from banking to ecommerce to healthcare and more.
o Improved products and services: By leveraging machine learning, it becomes possible to create better products as per customer preferences.
Is data science a good career option?
Given the increasing reliance on technology and usage of data, data science will only become more popular. According to the US Bureau Labor Statistics (BLS), the demand for data science skills will drive a 27.9 percent growth in employment in the field through 2026, with 11.5 million jobs predicted by 2026. It is currently the fastest-growing job on LinkedIn, with a 56 percent growth in jobs in the US as per its 2019 report.
With an average annual salary of USD 116,000, the job of a data scientist is one of the most lucrative. BLS estimates this to be more than double the national average salary in the US.
The pandemic has not reduced opportunities in data science — among data science organizations, 42.1 percent have had no impact, while 7.6 percent actually grew in size.
What does a data science professional do?
The data science process involves different steps:
· Gather the right data from different sources
· Structure the data and make it legible and usable
· Create algorithms and models to extract insights
· Convey the insights in a way that stakeholders understand and business questions are answered
In this process, time must be spent on importing datasets, cleaning data, building databases, and maintaining dashboards.
What qualifications are required for data science?
At the entry level, a master’s degree is not required. A bachelor’s degree is enough for a start, and candidates can add on to this by taking up:
· Online courses
· Workshops
· Boot camps
· Books
These can make it simple to acquire technical skills by oneself, without enrolling for advanced degrees.
The important skills required are the following:
· SQL, Hadoop, and Spark: The most commonly requested skills
· Programming languages: Python, R, SAS
· Mathematics: statistics, probability, linear algebra, multivariate calculus
· Data visualization: Tableau or other
· Soft skills: Communication, interpersonal skills, storytelling, and teamwork
How does one land a job in data science?
A candidate must start with an undergraduate degree in data science or a related field. After picking up the necessary abilities, the person needs to pick a specialization and accordingly land a first job. The skills can be added to by choosing a good data science certification, and later, the candidate could pick a master’s degree as well.
