Traditionally, major brands and industries in India would rely on their experiences and “gut-feeling” to create business strategies. Due to insufficient data to back their decision, however, businesses were often unable to develop feasible projections and sales models. With data science coming into the foray, industries can now make intuitive yet conscious data-driven business decisions.
In recent years, both upcoming and established businesses are shifting focus on the vast amount of usage data available to derive insights and develop business expansion strategies. With data science, organizations can analyze existing market trends to make future-ready business decisions while minimizing the risks involved.
Data science has indeed facilitated the rapid growth of industries and, subsequently, spurred the demand for skilled data science professionals. This, in turn, has contributed towards data science becoming a career of the future. Let us take a closer look at what factors contribute to the rise of data scientist as a viable career opportunity and how getting a post graduate diploma in data science can help your career get future-ready.
The Demand for Specialised Skills
According to a recent survey report published in the Hindu, there are approximately 97,000 data analytics positions currently vacant in India due to an apparent talent gap in data science. With the number of data professionals increasing, businesses will be looking for individuals with more specialized skillsets.
Nowadays, organizations are focusing on hiring domain-specialist data scientists, data translators, and data science leaders who can help provide the link between the business and the data function. As a budding data science professional, you need to build your skillset and match the industry benchmark of sector-specific data scientists.
The Blending of Data Science and Predictive Analytics
The demand for skill-specific data science professionals is also fuelled by the increasing relevance of predictive analytics across industries. Currently, data scientists are using statistical methods including mix modeling and predictive response modeling, along with optimization techniques to meet clients’ business needs.
Going forward, data scientists have to develop expertise in leveraging these statistical tools to build predictive models for businesses. These models support organizations in demand generation initiatives and customer marketing. With a Post Graduate Diploma in Data Science under your belt, you can too develop the skills necessary to collaborate with consulting teams, set analytic objectives, and develop intuitive work plans to provide analytic and programming support to other internal teams.
Vast Amount of Global Data
According to IDC, the global data sphere is expected to grow to 175 zettabytes by 2025, from 33 zettabytes in 2018. The report also estimated that by 2025, almost 6 billion people or 75% of the world’s population would interact with data every day.
In other words, each connected individual will have a minimum of one data interaction every 18 seconds through IoT devices, which in turn, are expected to create more than 90 zettabytes of data by 2025. This vast amount of data does hold tremendous potential in terms of identifying usage trends, customer mindset, and buying patterns. Businesses can tap into this reservoir of data-driven insights to create better marketing and business strategies, provided they have adequate real-time data processing and storage capabilities, and the right set of specialized data science professionals.
Ride the Data Science Wave to Build a Career of Your Dreams
In India, the growing demands of industries put the focus on the need for skilled data science profiles such as data analysts, data scientists, and data translators. To transition into data science careers, you need to pick up various relevant skills that will help boost the visibility of your portfolio. For example, budding data scientists are picking up computer science skills, especially coding and unstructured data analysis.
In a business environment, data scientists are required to have experience in typical data science tools to become proficient in deriving viable insights. Post Graduate Diploma programs in Data Science from reputable institutions such as Jigsaw Academy allow you to develop high-value specialized skills to pursue a career of a data scientist. The program not only provides a thorough understanding of Big Data technologies as enablers, Artificial Intelligence, and neural networks but also help learn emerging data science techniques of robotic process automation and unstructured data analysis.
In the coming years, technology will give budding data science professionals more capabilities and provide them with a chance to showcase their talent in the best way possible.