So there are chances that data science will take a good turn in the future and its noted that it will be the most demanding career. The number of a data scientist is more than the people who are will to work in the same post. And it is expected that a career in data science will be of great scope and will also remain in the upcoming future.
If you really want to know the demand of data science, this article will give you a complete check of who is a data scientist and the future jobs of a data scientist with a pay scale in the near future.
What is Data Science?
To understand what is data science let's first go to the definition. Data Science is defined as a multidisciplinary blend of numerous tools, data exploration, machine learning principles and development of algorithm and technology to unearth solutions from the raw data.
In simple words, data science is a field of big data through which organizations are able to transform their immense data into something useful, which helps them to make informed decisions regarding their business.
Data analysis sometimes results in counter-intuitive insights.
A good data scientist is one who has a business context in his data analysis solutions. He/she should be able to convert the stories numbers tell into actionable form. A data scientist needs to have an eye to details as well as the big picture.
Who can be a data scientist?
A Data scientist is sort of 'jack-of-all-trades' for data crunching. Basically, 3 main skills a data scientist needs to possess are mathematics/statistics, computer programming literacy and knowledge of the particular business.
What is the requisite skill set to be a data scientist?
Approximately more than 40% of data scientist positions need an advanced degree. Such as an MBA, or Ph.D. More than 80% of Data scientist have master's degrees. More than 45% have PhDs.
Skills needed to become Data Scientist
In-depth knowledge of Python coding. It is the most common language including Perl, Ruby, etc.
Sound knowledge of SAS/RIt is must that Data scientist able to work with unstructured data. Whether it is coming from videos, social media, etc.Sound skill in SQL database coding.
If you are interested to know the job roles of Data Scientist then take a look:
A Data Scientist Responsibilities
Data cleansing and processing.
Prediction of the business problem.
His roles are to give future results of that business.
Develop machine learning models and analytical methods
Find new business questions that can then add value to the business.
Data mining using state-of-the-art methods. Presenting results in a clear manner and doing the ad-hoc analysis.
Jobs for data scientists:
India is full of multiple jobs in Data science, Providing opportunities for data scientists. As we go through some portal like Jobs - Recruitment - Job Search - Employment - Job Vacancies - Naukri.com Leading sites to find jobs say more than 25,000+ jobs are there in India just for Data Scientist. LinkedIn is the top site for searching the jobs wee see 14000+ jobs for data scientists.
As per the statistics, 2015 year was having 2.3 million jobs which were only open in India. In 2018, these statistics have taken up job vacancies which were estimated at 2.9 million. We can say that the companies require some Data Scientist and the requirement will grow and can never decrease.
Moreover, the situation is such that in a recent report by business analytics firm Great Learning, India has more than 50,000 jobs in both data science and machine learning lying vacant. Apparently, that's because we just don't have enough talent to fill them. Apparently, there are twice as many jobs available in these two professions as there are job seekers. Great Learning, in exclusive insight shared with Economic Times, says this is a clear indication that Indian professionals need to up skill.
Compared to worldwide estimates, India contributes just 12% of open jobs opening currently. The no. of jobs in India are likely to increase much faster vs. the rest of the world as more analytics projects get outsourced to India due to lack of skills across the world.
10 leading organizations with the most number of analytics opening this year are Amazon, Citi, HCL, Goldman Sachs, IBM, JPMorgan Chase, Accenture, KPMG, E&Y & Capgemini.
Apart from the aforementioned companies like Ola cabs, Uber, which are start-ups and e-commerce companies like Snapdeal, Flipkart, Amazon, and Product based MNCs like Microsoft, VMware, Honeywell and also Service based analytics companies like Mu-Sigma, Vizury, Fractal Analytics, Impetus, TCS hire Data Scientists.
Scope: Salary & Jobs in data science in India
A candidate having knowledge of R earns Rs. 10.20L yearly as compared to Python with Rs. 9.36L yearly
A professional with working knowledge of data science and big data earn 8% more than fellow data scientist.