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A recent report by e-learning platform Great Learning brings up detailed information about the scope of data science in India. The report presented details on the data science jobs, salaries, and career paths while shedding light on the top sectors that create the maximum vacancies.
According to the report, India is expected to see 1.5 lakh new job openings in the data science sector in 2020, which is an increase of a whopping 62% compared to the previous year’s data.
Hari Krishnan Nair, co-founder, Great Learning said: “Organizations across domains are adopting emerging technologies at a fast pace in order to remain competitive and relevant in today’s market. With vast quantities of data being generated, the Data Science vertical is key to mining actionable insights for businesses. We are delighted to witness the growing demand for Data Analytics professionals in India. This has naturally resulted in professionals acknowledging the scope of this field are working towards upgrading their skills to meet the demand for Data Science professionals. 2020 is set to be a big year for Data Science in India.”
Remarkably, 70% of job postings for data scientists are for those professionals who hold less than five years of work experience in the field.
As revealed by the study, with 38% BFSI (Banking, Financial Services and Insurance) sector has the maximum share of such job openings followed by energy (13%), pharma (12%) and e-commerce (11%).
As far as the data scientists’ salaries are concerned, the study also depicted that the BFSI sector offers the highest average salary with manufacturing, healthcare, IT and eCommerce industry following it in the queue. The finding was based on a survey conducted among existing data science professionals.
Talking about the figures, the average salary offered by the BFSI sector was somewhere around Rs13.5 lakh per annum while the manufacturing industry pays Rs 11.8 lakh pa on average and IT industry around Rs 10 lakh, the survey revealed.
“The [data science] sector has been reeling with a massive shortage of skilled talent in the country. In 2019, as per a study by Great Learning, close to 97000 positions related to analytics and data were vacant due to dearth of qualified talent,” the company said in a statement.
The study also talked about the four unique career paths that emerged within the data science field, which are Data Scientist, Data Analyst, Data Engineer, and Business Intelligence Developer.
Source: The Times of India