Scope and Future of Data Science in 2021
Data is the new Science. Big Data holds answers.
The above statement clearly indicates the importance of data in today’s world. But, the traditional Business Intelligence tools are now unable to handle the increasing amount of data. A large amount of data has brought a revolution worldwide. This data is generated from different sources such as social media, call logs, online portals, financial transactions, etc. A large portion of this collected data is unstructured. The data is increasing continuously with time and there is a requirement of advanced tools and techniques to handle, store, process, and analyze this data. This is why Data Science career has a never-ending scope in the upcoming future.
Such a large amount of data available today can add huge value to each and every industry. Following which more and more industries are welcoming Big Data, AI, and ML for improving their business. As a result, the demand for Data Scientists and other data professionals are increasing. According to the IBM predictions, there will be a 28% increase in the demand for Data Scientists in the year 2021.
We hear a lot about the trends and applications of Data Science these days. Now, many questions would have already popped up in your mind such as: ‘Why do we need Data Science?’, ‘What is Data Science?’, ‘Is Data Science a good career?’, and ‘What are the trends in Data Science in 2021?’
What is Data Science?
In today’s technology-driven world, data is like the raw diamond, and Data Science is the mining infrastructure set-up that makes the data useful for transforming the world. Without the presence of an enormous amount of data, the self-regulating systems cannot be created. So, Data Science in 2021 would be all about crunching huge amounts of data for Business Analytics.
In simple words, Data Science is a comprehensive study of data collected by various organizations for their business purposes. It involves the analysis of the gliding data over the Internet through various data analysis tools.
To understand the essence of Data Science, here’s the Data Science life cycle:
What is the role of a Data Scientist?
Data science has been called “the sexiest job of the 21st Century” by Harvard Business Review. The Scope of Data science is getting more popular in recent times.
Data scientists are professionals who can simplify big data through coding and algorithms and turn it into a problem-solving solution for the business. They normally have a great base in computer science, statistics, mathematics, modelling, analytics blended with an overpowering business sense.
Small startups are generating a massive amount of data every day, thus resulting in increased hiring. The pay scale of data scientists is well-groomed because of the never-ending demand. They generally work with the developers to deliver value to the end consumers.
The Function of Big Data
The function of a data scientist is getting more important for a traditional organization because Big Data is constantly transforming business strategies and marketing skills and data scientists are the core of that change. Big data generation leads to the huge scope of data analytics and DevOps.
Everything is happening because of the wide range of software, from human resources and marketing to R&D and financial forecasts. It’s never so easy to manage and interpret all the data extracted from these services.
Important Data Science Skills
Data scientists are experts in the use of software, like Java, Hadoop, Python, and Pig. Their chores include business exploration, structuring analytics, and data management. The main reason for Data Science’s future getting bright is its high-end demand because of digitalization.
Data Science is one of the hottest and trending technologies across the globe. It is widening its areas of applications in organizations, from top MNCs to start-ups. Data Science is the bridge connecting us to the world of automation.
Data scientists are the game changer for any organization. They can critically examine big data and get the solution for the enhancement process easily. The experts help in building marketing strategies as well as provide outstanding recommendations on the product front. Data science works as the building block of any organization.
Future Scopes of Data Science
The scope of Data Science is growing with every passing year. From 2008 to 2020, people across the globe have stepped on the digitalization age. The massive growth of data provides a glimpse of the future scope of Data Science in India.
Health care sector
There is a huge requirement of data scientists in the healthcare sector because they create a lot of data on a daily basis. Tackling a massive amount of data is not possible by any unprofessional candidate.
Hospitals need to keep a record of patients’ medical history, bills, staff personal history, and much other information. Data scientists are getting hired in the medical sector to enhance the quality and safety of the data.
The transport sector requires a data scientist to analyze the data collected through passenger counting systems, asset management, location system, fare collecting, and ticketing.
The e-commerce industry is booming just because of data scientists who analyze the data and create customized recommendation lists for providing great results to end-users.
The Data Science sector witnessed a massive hike of 650% since 2012. As organizations are turning towards ML, big data, and AI, the market for data scientists is boosting. Data science has made normal lives easier by monitoring things near one’s home or workplace, enhancing the quality of online shopping, enabling safe online fund transactions, and many more.
The scope of Data Science does not end here, it has made a remarkable input in medical science. The analytics and requisition found helpful in Medical Image Analysis, Genomics, Remote Monitoring, and Drug Development.
Frequently Asked Questions
Is Data Science tough?
Following a specific disciple is hard because it becomes vast and deep as the sea and so is data science. The syllabus of Data Science comprises soft skills such as communication skills and tough skills include SQL and Python.
Sometimes students find it difficult because learning a new skill comes with a lot of patience and dedication. Many students do not uphold this entry limit and hence find it difficult. Some of the renowned Data Scientists also suggest that mastering data science comes with utter dedication and time, but it totally worth it because of the rewarding career Data Science offers.
Does Data Science have a scope?
Data science is one of the ultra lucrative career options around the globe. In this technology-driven era, every organization needs a Data Scientist to analyze the performance in reference to the data obtained from an online source.
On the basis of research by Glassdoor, in the United States alone, data scientists are getting packages worth $116,100 p.a. The best part is one gets better job security than others because of never-ending shortage and high demand.
Is Data Science a good career in India?
India is stepping into the era of online businesses and organizations. It is stated as the second-biggest hub for data science. Analysts have predicted that there will be more than 11 million job openings by 2026.
India will witness a savage era of technology-driven businesses in upcoming years. A fresher can score up to INR 500,000 p.a., whereas an experienced data scientist gets a minimum package of INR 610,811 p.a. to INR 1,700,000 p.a.