There’s no doubt in knowing that they are among the top paid careers in the world today.
Ever wondered how much will they be paid in the future?Role of data scientists in 2020India is set to face shortage of data science professionals until 2020.
This is because they are required to analyze a huge amount of data, make decisions and predictions.
For all this purpose they do need to have skills related to statistics, mathematics, data visualization, machine learning, coding, etc.
Rarely do we find people with such high-level skills.
According to a survey conducted by IBM, in the year 2020, there will be an increase in job openings by 364,000 to 2,720,000 data scientists.
Image Source: GoogleAs per LinkedIn, the data scientist job profile looks like this:Information technology and services- 29,300Computer software- 19,800Research- 13,200Internet- 7,700Financial services- 6,500Management consulting- 3,600Higher education- 3,000Banking- 2,800Marketing and Advertising- 2,500Insurance- 2,200Data scientists are paid huge amounts according to the skills they possess.
Even the survey conducted by IBM say so.
The Average salaries are:Map Reduce- $115,900PIG- $114,500Machine Learning- $112,700Apache Hive- $112,200Apache Hadoop- $110,600Big Data- $109,900Data Science- $107,300NoSQL- $105,000Predictive Analytics- $103,200MongoDB- $101,300There will be more than 400% rise in the demand of data scientists in the coming years across various sectors, in India.
Data scientists are a must in the future because:There is a boatload of data- As we read in the first paragraph of this article about the amount of data that is generated regularly.
This data needs to be managed and analyzed.
Decisions are to be made that are effective for the growth of a business by drawing out insights.
Predictions or events that are likely to take place are identified with the help of data collected.
Skills can’t be matched- The future data scientists would be able to handle the most critical and complex business challenges.
They are able to do this because they have the knowledge of the right skills and techniques required to bring a change in an organization.
You would not be able to find these unique skills and talent in any other profession.
Check out the top Data Science skills you must possess to master the art(Oops.
There will be a rise in the number of applications — The work of a data scientist involves extracting meaningful information from raw data.
This process may seem to take less time but in reality it requires a number of tools and techniques which takes up a large amount of time.
Data science has explored many applications recently and will continue to explore more in the near future.
ConclusionAt last I just want to say that Change is Inevitable but your growth is optional.
So, if you want to keep up with the fast paced world and the ever changing technology then go hand in hand with the world.
Rather, I would say that go one step ahead because that’s what a Data Scientist does.