Which Industries are Hiring Data Scientists in 2021?

A major lesson learned from the pandemic is that data is an integral part of business decisions and strategic operations. As COVID hit, businesses adapted to hybrid and distributed environments with data at the center of everything. With more data coming from devices and networks, the role of the data scientist is becoming vital for businesses to make sense of vast data sources and derive insights.?

Glassdoor ranks data science among the most demanded roles by companies in 2021 as data scientists support businesses to streamline operations. This has led to infiltration of data scientists into many industries as businesses optimize productivity. 5G and IOT technologies are further revolutionizing data science as they make data application easier.?

Etsy, an e-commerce platform is using data analytics for customer recommendations and sentiment analysis to understand preferences. Banking apps including Chime are using analytics to estimate consumer spending and setting financial goals for their customers. Oxygen banking app uses machine learning1 to detect fraud and predict consumer behavior, evaluate credit ratings and financial activities.

The supply chain, health care, media and transportation industries are relying on analytics for real time insights of their operations. DoorDash and Hello Fresh are some on-demand startups utilizing data to understand customer demand, preferences and anticipating market changes.?

Overall, data science has become essential for every industry that wants to gain competitive advantage in the market and optimize operations.

Here are some industries hiring data scientists:

1.Healthcare

The COVID-19 pandemic accelerated digitization of healthcare with hospitals adopting analytics and artificial intelligence for automation. Data scientists are flocking the healthcare industry2 given the increase in data volumes that require expert analysis.?

Data is assisting health workers make smarter decisions, checking patient progress and measuring occupancy rates. Health startups from Babylon Health, VillageMD, HealthCrowd and HealX are using AI solutions for personalized care and connecting patients with doctors.

Technology is helping nurses to monitor patient health and administer better care. Ease of data access is helping health providers offer personalized care in areas such as beside care that need attention. Better patient care means administering data driven choices and technology is bringing this experience to the hospital environment.

2.Hospitality

The hospitality sector is applying analytics for optimal business operations with hotels using data to determine room costs based on customer preferences. Hotels are using data to facilitate guest experiences such as booking rooms and ordering meals and drinks. Because travel patterns are associated with guest bookings, hotels such as Marriott are leveraging data to figure out client destinations and solutions to attract them.

I got the chance to interview Robert Stevenson, CEO of Intelity on the HumAIn Podcast where he explored the future of hospitality including guest experience3 and why hotels are focused on mobile. According to Stevenson, the hotel industry has been slow to adopt data for decision-making but with the mobile trend growing, hotels are using technology to change customer experiences.

3.Transportation

Machine learning is changing the autonomous vehicles industry as companies including Optimus Ride, Taxify use AI solutions for customer evaluation and personalized solutions. The driving experience is becoming better and IOT solutions are spearheading customer experiences? with advanced algorithms to determine driver drowsiness while behind the wheels. These ML solutions are changing the self-driving market with more innovations on the horizon from startups such as Waymo, Zoox and Cruise.??

Technology in the transportation industry is helping car companies innovate around fuel efficiency. Data is helping Waymo and Uber determine mileage costs and making data driven decisions to improve fuel consumption. Adapting to locations and routes is another area where ML is impacting autonomous vehicles with startups such as AutoX using algorithms to improve driverless car adaptation to new environments.

4.Education

Technology is transforming learning as educators? use data to evaluate student performance and improve test scores. K-12 schools are using technology, which is helping teachers spend more time on quality. Assessment of students poses challenges to teachers and technology is streamlining this area with teachers using student data to improve learning. Galvanize, a training education company offers personalized student learning with the aid of technology around their campuses.?

Virtual reality technology is adding a new dimension in schools as teachers create fun learning experiences. Students appreciate practical learning and augmented reality is helping teachers improve learning based on real world situations.?

My interview with Daniel Pianko, Co-founder, University Ventures explored tech adoption in schools with more discussion on improving classroom experiences through augmenting tech with students and teachers.?

5.Supply Chain and Retail

Analytics is changing the retail scene with Amazon using analytics for inventory management? and coordinating with suppliers. Supply chain analytics is offering real time insights into location of the inventory and customers. FoodService, a food company in the United Kingdom leverages data to track movement of inventory and location.

Data is helping retail chains optimize operations and saving labor costs. Analytics dashboards are communicating with CEOs and Chief Operating Officers on the state of inventory and this turn eliminates operational inefficiencies. The COVID pandemic affected the global supply chain and companies turned to data in response to these disruptions.

6.Finance and Banking

The banking sector's use of analytics is growing in 2021 as financial institutions turn to technology to improve customer experience, evaluate consumer behavior and detect fraud. PayPal, Chime and Oxygen are using machine-learning algorithms? to determine credit scoring and predicting customer preferences. By using previous customer information, startups such as Varo and Ally are predicting the saving, deposit and credit activities of account holders with ML algorithms.

7.Real Estate

The real estate adoption of technology is growing given the rise of online platforms that facilitate buying and selling. Real estate agents are using technology applications including Zillow to analyze properties in the market and engage with customers. Data scientists are at the center of building these AI powered solutions for real estate, which is saving costs and improving revenue streams.

Movoto, Trulia and Redfin platforms are transforming the housing and construction market with real estate companies using these platforms for determining customer trends. For instance, analytics on Zillow enable agents to check through market activity, which gives them a glimpse of the market situation. The days of real estate agents doing all the work physically is fading away as analytics automates the process leading to better customer experiences.

8.Telecommunications

Demand for data experts is growing in the telecommunication sector in areas such as customer analytics, marketing campaigns? and customized solutions. Verizon, T-Mobile and AT&T are using data science skills to sift through vast amounts of data and improve network performance.?

Telecom customers make calls, text and transfer money through their phones and analytics shapes decisions around this data. Telkom, a telecommunications company in Africa, is using analytics to make customer preferences by analyzing data such as calls, chats and videos.

Data Science Growth Across Industries in 2021

The digitization drive among enterprises has risen in 2021 and companies are hiring more data scientists as part of these efforts. Data scientists are the champions of data driven cultures and with more investments in AI solutions, the role of the data scientist will continue to expand. The cybersecurity use of AI solutions for systems management is another reason for demand for data scientists across different sectors in 2021.

Automation demand in manufacturing has created data science positions for experts to handle increased data points. The idea of streamlining operations and predictive intelligence according to a PWC report are some priority areas influencing manufacturing companies to adopt AI solutions. As the data science industry grows and new technologies emerge, one can only imagine the exciting times ahead for the data scientist.??

Works Cited

1Machine Learning, 2Healthcare Industry, 3Guest Experience, ?Customer Experiences, ?Educators, ?Inventory Management, ?Algorithms, ?Marketing Campaigns?