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Currently a Marketing summer intern at ValueFirst Digital Media Pvt. Ltd

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Data Scientist: One of the most lucrative job profiles today

By lavinaagarwal |Email | Apr 26, 2018 | 8481 Views

Since long, there has been a lot of buzzing in the media about Data Science, Big Data, Machine Learning, Deep Learning etc. captivating decision based on Data is not only an intrinsic intelligence but a well-built profitable sense too. While every corporation is trying to change itself into a data-driven corporation, many are stressed to apply it due to lack of considerate and lack of skilled professional.

The discipline of analyze information has been around for a long time. Corporations have been making sense of data from business analysts, data analysts, statisticians, business consultants, technologists and commerce subject matter experts, to together solve evils and provide solutions.

 Conventional business analysts were taught to draw an belief based on agreed small data. However, today large amount of the data, stream data and formless data need analyzing and the new breed of data analyst, Data Scientists, are better ready to do so. It is safer to say that Data Scientists are a much more evolve form of Data Analyst and Business Analyst. They deal with the study of Big Data and create data yield, computerized data analysis tools, dynamic visualization etc.

There is a worldwide stipulate for data scientists who have domain knowledge and applied skills in various areas like math, stats, machine learning, deep learning, natural language processing , Python, SQL, SAS, Big Data tools like Hadoop and Spark, Visualization tools like Cogonos, Tableau, click view etc. While data scientists demand is growing at a rapid pace, Indian academia and industry are not equipped to fulfill the need. The application of AI, ML, Deep learning, Data Science is growing in India and around the world in almost every industry like Telecom, IT, Insurance, manufacturing, healthcare, banking, retail, media, consulting, e-commerce, oil, gas, automobile, airline, government, NGOs and start-ups and every functional areas like marketing , finance, operation, HR etc.

Here is a growing demand for solutions based on data science, machine learning and AI but there are not enough skilled people available to execute these projects skillfully and successfully. The fastest-growing roles globally are Data Scientists and Advanced Analysts, the demand for whom is expected to spike by 28 percent by 2020. Compared to the market average, it takes five days more for corporations to find data scientists and analysts. Employers are willing to pay premium salaries for professionals with expertise in these areas. 

Salaries of Chief Data Scientists with over 10 years of experience in mathematics and statistics are at a minimum of a crore annually. Unicorn Data Scientist is the upgraded version of our racy data scientists but are a little hard to hunt and are compensated more than dollar 200,000 per year.  

As India has the biggest pool of employees with math and coding knowledge, we are capable of attaining the world's largest hub of skilled Data Scientists. With upgraded curriculum and skilled faculty who has real time industry expertise, Indian students can equip themselves to become leaders in the industry of data science.

Source: HOB