Top Reasons to become a Data Scientist

Are you one of those who is really good at Mathematics? Great. Do you posses a solid knowledge of the domain and possess all the required skills that are needed to get an insight into the various business problems with utmost clarity and precision, commendable. Why don’t you think of becoming a data scientist then? Being one of the most sought after IT career at present, the role of a data scientist has a lot to offer, both knowledge wise and financially.

At present, the IT industry has almost taken a storm wherein the supply of data scientists is hardly meeting the need. So why not make the most of your skills and expertise and make a great career in the field of data science? Explore more, acquire the needed skills and make the most of the opportunity that lies ahead to get real job satisfaction by simply sharing your knowledge and make lot of money.

What is Data Science?

In any business, you can easily see a large pool of data that needs to be tapped. Such large volumes of data are generally complex in nature as compared to the traditional formats and are usually unstructured in today’s era. In order to structure such large volumes of information and to create a framework so that appropriate solutions can be found out to store and process it, data science proves to be a beneficial platform. It won’t be wrong to say that that the advancement of artificial intelligence is data science. Be it big data or analytics, data science is the future of all. Mostly because it can not only bring value to businesses but can actually help the different life cycles of a project to scale new heights.

Data science performs the task of blending a couple of things such as the principles of machine learning and various other tools in order to extract the exact patterns from large chunks of a data pool. It is a multi-disciplinary field that makes use of different algorithms, various processes, and relevant systems so that efficient algorithms can be crafted to solve the decision-making problems that are faced by data management department of businesses. For this, when given a chance, a data scientist will try to predict the happenings of a specific event from different perspectives by using analytics and machine learning and will make efficient use of techniques as well as theories that are derived by considering fields like computer science, information science, mathematics and statistics.

Reasons to become a Data Scientist:

1. Increasing Demand – When you look around you will see that engineers or for that matter accountancy professionals are not that much in demand as they used to be a few years back. As per the studies conducted by reputed organisations like McKinsey & Company sometime back, only US may require approximately 180,000 data scientists than the actual required number in the coming days. Why to miss this chance? Do not waste this moment and make an entry into the field of data science and grow and develop commercially.

2. Top-ranking Salaries – As per the data submitted by O’Reilly, the base salary in US that is offered to a data scientist professional is $104,000 annually. Though it differs from organisation to organisation as per the scale of their business, the salary offered to a data scientist as compared to a lawyer is relatively more. For example, managers in the field may earn more than a doctors and surgeons. Isn’t it great? So if you didn’t study medicine or failed to spend years in taking education in the field never fetch your interest, need not worry at all.

3. Value to the Business –Any sort of data is crucial to an organisation and so is its analysis. Be it health care industry, ecommerce of information technology, data scientists are needed everywhere. They perform the task of providing the suggestions so that the management can make better decision and formulate successful strategies. As a result, the management professionals depend largely upon them for their growth and development in the long run.

4. Growing Field – The field of data science is evolving day by day. This is because the demand for it is ever increasing across the world. By adopting inclusive skill sets, you can not only leverage data or the information but can actually enable organizations across the globe to take sound and strategic decisions. Besides, you can get a platform to experiment data that would enable you to provide feasible solutions for varied type of businesses. For instance: Artificial Intelligence or Machine Learning field.

5. Easy to Get a Job – Today’s IT industry needs large number of data scientists as compared to the recent past. As the field is flourishing with concord speed, the industry has named it as one of the demanding job of the current age. Most of the companies in the IT sector and ecommerce organisations need huge number of data scientists to day wherein start-ups too aren’t lagging behind. Even if you do not get a job in an MNC, you don’t have to worry much as you can get an easy entry into a middle level organisation or a newly set-up firms well.

6. Great entry into E commerce industry – In India, it has been seen that the e-commerce industry makes maximum use of data science to yield great result. There are plenty of retailers who want to understand the span of their business. And so, they want to use a data scientist so that the information with respect to customer reviews and the ratings can be utilized to understand the purchase trends. This data can then be capitalized to get hold of customer’s browsing habits over various websites that deals with e-commerce. Therefore, if you want to enter into the industry, a certification in data science can prove beneficial to you in the years to come.

7. Experience factor – Most of the great careers expect experienced individuals at work from day one as nobody wishes to spend money and resources on on job training. But the field of data science is an exception. As per the studies conducted by Burtch Works, approximately 40% data scientists do not carry more than 5 years work experience. Isn’t it surprising? Moreover, the wages depends largely the level at which one enters into the industry. For instance, a Level 1 professional may typically carry around 0-3 years, a Level 2 may carry 4 to 8 years and Level 3 will have approximately 9+ years relevant professional experience.

8. Easy to manage the challenges – As per the studies conducted by the Institute of Management Accountants, organizations at present seek accountancy professionals to simply extract data or to recognize the key data trends and can manage with statistical modelling. It has been found out that the level of skills needed to become a data scientist is not made mandatory by most of the employers. Moreover, most of the educational institutions do not provide the needed exposure to data analytics at all. In such a scenario with the shortage of data scientist and comparatively lesser competition, professionals can definitely look forward to their long innings in the industry.

9. Appealing career path – Recently, as per the review present by the prestigious Harvard B-School, the career of data scientist is going to rule the 21st century. How come they are so sure about it? Not because the field is meant for the youth only but the actual reason is that individuals who are truly interested to make it big in the current scenario in the IT industry can work as per their skill level and start from anywhere. Be it a cool start-up or a big MNC listed at NYSE, a data scientist has a lot to offer, almost everywhere across the world.

10. Feel smarter – Every individual wants to be a smart working professional in his or her respective chosen career. In fact, feeling smart is a great thing as it boots one’s confidence which in turn increases the overall productivity of an individual at work.

By getting hold of the practices of data science, you can easily attain smartness and stay ahead in the industry. For instance: A certification in the subject gives you the knowledge about entire statistical processes involved that are usually not utilized anywhere else. This makes you more aware, helps you improve your analytical thinking which in turn makes your journey in the field of data science comprehensible and prolific.

Conclusion:

After considering the top reasons as to why data science is a lucrative career, you need not worry and should trust the process. In the years to come, data is surely going to offer lots of opportunities that play a crucial role in the decision-making process of a business. Simply start looking for a job actively and begin your career in the promising world of data science and derive as much job satisfaction as per your desire, wherever you want. Moreover, get the deserving compensation and equal amount of respect in the industry.