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“With increasing social media & online shopping activities, around 2.5 Quintilian bytes of data are created by us every day and it is expected that every person will create 1.7 megabytes of new data every day every second by 2020.”
The castle of a business’s success is built on the foundation of data. No business can thrive without exploring and analyzing the data. It is the data that helps you create the right strategy for your business and make informed decisions.
How well you perform in the market is based on how well you have dug into the data to find out your version of marketing. It is obvious that when there is so much to do with data, there will be so many required to study the data and discover hidden patterns from the raw data to help businesses grow and flourish. This is what makes Data Science one of the most preferred career options as on date.
Scope of Data Science as a career: Let’s Talk Numbers!
- India to see 62% rise in data science job openings in 2020. (The Times of India)
- India is second only to the US when it comes to data science jobs. 1 out of every 10 data science or analytics jobs is accounted for by India. (Quartz India)
- By 2020, India will create 39,000 more data science jobs spanning sectors like agriculture and aviation. (Business Today)
- There are up to 50,000 data science job vacancies in India right now, which means plenty of opportunities for skilled job seekers to look forward to. (Business Today)
- Currently, the biggest employer of data scientists is the banking and finance sector, comprising about 44% of total data science jobs.(Business Today)
- Evolving technologies mean that data science will see a big demand in fields like AI, cybersecurity, space exploration and driverless transportation too. (The Economic Times)
Data Science jobs in India
Given below are the current statistics showing vacancies for data science and related jobs in India.
Data Science Remunerations
Like it happens in any other field of career, the average salary for data science jobs varies on the basis of skills and experience. Given below is data for an average annual salary for data science and related job roles.
Lack of skilled talent
A recent study conducted by the e-learning platform, Great Learning found that in spite of such heavy demands of Data Science specialists there is a big dearth of skilled talent in the country. In fact, last year itself, around 97,000 positions in the Data Science sector remained vacant as there was a shortage of qualified data science talent.
Though people are becoming aware of it and there is a surge in the number of professionals up-skilling in data science as well but the rise in relevant data science talent is still not able to meet the heavy requirements of the sector making data science a lucrative career option.
Afterword
Irrespective of the domain they belong to, organizations are adopting emerging technologies at quite a faster pace to stay ahead of the competition as well as stay relevant in today’s market. And like we talked before, with more & more people going online, vast quantities of data are being generated that if decrypted can provide great insights for businesses. However, to decode the data and mine actionable insights, there is a need for more and more skilled Data Science professionals that makes data science a great sector to launch a career in.