Did you know that by 2025, the global data volume will touch 180 zettabytes?
Data now drive the world, and data is the new currency.
However, most of the available data is unstructured and noisy.
With growing technologies like the Internet of Things (IoT), Machine Learning, Artificial Intelligence, etc., the need for structured data is essential in developing business ideas. To realize the development of structured and useable data, the field of Data Science employs data collection methods, analysis, and manipulation to find patterns in them. This makes data scientists an indispensable part of any organization dealing with data.
Let’s learn a little bit more about Data Science.
What is Data Science?
Data Science is a field of study that combines scientific methods, programming skills, domain expertise, and the knowledge of statistics and mathematics. Using these data, scientists extract meaningful insights from noisy or unstructured data and translate them into tangible business value.
Data science is related to mining, machine learning, and big data. It leverages Machine Learning algorithms by applying them to images, text, numbers, audio, videos, etc., to create Artificial Intelligence (AI) systems to perform complex tasks that usually require enormous human intelligence.
A Data Scientist is someone who knows how to extract this data, understand the meaning, and interpret data with the help of tools and methods from statistics and machine learning.
What is the role of a Data Scientist?
A data scientist’s primary role involves preparing data for analysis, developing strategies for analyzing, exploring, and visualizing unstructured data, and developing predictive models for theorizing and forecasting using programming languages such as Python and R.
Here are a few roles a Data Scientist performs-
Finds patterns in data sets.
Creates data models and algorithms for forecasting.
Uses machine learning techniques to develop, improve and structure data.
Deploys data tools such as Python, R, SAS, or SQL in data analysis.
Recommends improvements to other teams and senior staff.
Job Prospects of Data scientists
According to Ambition Box, a Data Scientist earns an average salary of Rs. 11 Lac per annum in India in 2022. Data science jobs are among the top-paying jobs in the market. According to Naukri.com, India ranks second in terms of the availability of job opportunities with international onsite work for data scientists from Indian companies.
Some of the top 10 industries that require data scientists frequently-
- Banking, Financial Services, and Insurance (BFSI)
- Tech companies
- Healthcare
- Retail
- Telecommunications
- Digital Marketing
- Automotive
- Cyber Security
- Oil & Gas
- Media & Entertainment
Currently, the demand for data scientists in India is at an all-time high. This means a consistently growing upward career arc and generous, generous pay grade. Around 93,000 jobs in Data Science were reported to be vacant at the end of August 2020 in India. Moreover, 70% of these vacancies were for fewer than five years of experience.
Do you need a Data Scientist for your organization?
MNR has an extensive portfolio of Data Scientists who are just right for your business. Contact us at …….