Data Science has been hailed as the “sexiest job of 21st Century” by Harvard Business Review. But what makes Data Science so important? Why are Data Scientists some of the highly paid professionals? And most importantly, why learn Data Science? In this article, we will walk through some of the main reasons as to why Data Science has become the most sought after job in the market. We will understand the requirements of companies and why they need Data Scientists to boost their performance.
The topmost IT employment of the moment is Data Scientist. Data science is a very sought after course to learn. Data science has created so much hype in the world of IT sectors that from big to small companies all are now hiring employees who have knowledge regarding this subject. Data science helps an employee to understand data and then synthesize it in a proper way so that they can communicate in a better way which is beneficial for the companies. Data analytic which is a part of data science is taking over the market very quickly. Employers are looking for employees who can work well with data. This makes job hunting easier.
Salary of data scientists is very good. Their salaries are generally in the six figures digit.
There are many job titles that are there for a data science professional.
Learning data science
does not mean that you will be a data scientist only. There is the option of being Data science manager as well. This post also has lucrative salary options.
Availability of work in any part of the world. Data science professionals can work from anywhere they want. Also, they are employed in various other industries other than IT industry like health care and marketing.
Big data analytics is a part of data science and it is everywhere dominating the job market.
There is a variety of data science undergraduate majors which is useful for the students. And there is the availability of many educational options.
Also, there is very less competition in this field since it is a comparatively new field of study so job opportunities are more.
Data science gives you options for freelancing options.
You can develop your revenue streams.
Reasons to Learn Data Science
There is a shortage of data scientist in the market but the market for them is increasing day by day. This is why learning data science
has been very crucial now. These are the top 15 reasons why you should learn data science.
1. The demand of Data scientists in the job market
Companies have realized that they should hire professionals who have the capacity to gather, interpret and use data in a comprehensive manner so that it is beneficial to the company. The demand for a data scientist is increasing day by day since there are very few professionals in this field. Learning data science gives you the opportunity of getting a very good job in this market where they are very much needed at this moment.
2. The salary of data science professionals is very good
Survives have been done which shows that the salary range of a data scientist in the USA is $ 104,000 to $ 153,750 per year. This salary range variation depends upon the category of a contribution they make to the company. The basic salary of a level one data science contributor is $ 97,000 and that of a level 3 data science contributor is $ 152,000. Apart from these, they also get an additional bonus that starts from $ 10,000 for the level 1 contributor and to a much higher range for the level 3 contributors.
Disclaimer – The above-mentioned salary figures are not the same everywhere as they vary with locations.
3. Data Science can make the World a Better Place
Big Data & Data Science is beyond being a tool of Business Intelligence. Various philanthropic and social organizations are using data to create products for social good. Also, various health-care organizations are using data for helping doctors to have better insights about their patient’s health.
In this section, we will go through various examples where companies are using data for social good. This will help you to develop inspiration to learn Data Science as a tool for enriching the lives of people.
4. Many types of job posts are available when you are good in data science
Studying Data science means that are a number of job options that are available for you. Big data analytics is a part of data science which has a very good market. There are many job titles which are offered by big companies like IBM, Oracle, Opera and many more if you are fluent in this particular field. Your job possibilities increase if you learn data science. These are some of the job posts available for a data science student.
- Data analyst
- Data engineer
- Machine learning engineer
- Data science generalist
5. An option of being a data science manager
Being a data science student can clear the option of being a data science manager. It has been seen that the salaries of data science managers are almost equal to or more than doctors. Data Science managers who are level 1 earn up to $ 140,000 per year. The level 2 professionals earn $ 190,000 annually whereas level 3 professionals earn $ 250, 00 per year. This amount is more than what a psychiatrist, an internal medicine doctor or a pediatrician earn.
6. Pick Your Job Title
As a data scientist, you won’t just be collecting data. You will be turning unstructured data into structured data, then analyzing it. This is different than what is required from those in traditional data and quantitative management positions.
Possible job titles for a data scientist include:
- Data Engineer
- Data Scientist
- Data Analyst
- Big Data Engineer
- Data Architect
- Business Intelligence Specialist
Some of those sound pretty cool, right?
7. You can work anywhere in the world.
If you become a data science professional then you can work in any part of the world. In the USA, almost 43% of the professionals work on the West coast while almost 28% of them are in the Northeast. These professionals are employed in every region of the country and also aboard. But it has been since that the highest form of salary in this field is in the west coast of USA.
Data scientists apart from working in the technology industry they also get employed in other important industries like healthcare, financial sectors, and marketing. They also impart their wisdom to various consulting firms, CPG industries and also retails.
8. An option of being a big data analytics
The need and use of data analytics in every job sector of industry are growing more and more. Using big data analyst in companies is as important as using computers in workplaces. For companies three things are most important that include brand advertising, customer management, and big data analytics. Every data science student has a great future in the industry since this need will keep on increasing that will increase job opportunities.
9. Every Organization Needs One
There isn’t a sector that hasn’t been touched by big data and analytics. The demand for data scientists continues to grow because more markets are realizing the value they add to an organization.
Companies continue to use customer data to personalize experiences. The ability to recommend items based on previous purchases and customers’ needs is invaluable to today’s organizations.
10. Variety of Undergraduate majors and education options
Data science is a relatively new subject. This is one subject that has its origin from various other subjects that include statistics or mathematics, computer science and engineering and also natural science. It has been seen that many data scientists have their degree in social science, economics, medical science, and even business.
Also, learning data science does not mean that you have sat in a classroom all day. You can learn this online as well as your own convenient time.
11. The competition in this field is less
There is a shortage of data science professionals in every sector of the industry. Not only this, professionals who come other fields do not want to fill the shoe of a data scientist. It has been from many research studies that employers are in the hunt of finance and accounting employees who have the capability of mining and extracting data, good at data analysis and statistical modeling and also apt in identifying key data trends. But unfortunately, most of the finance and accounting employees do not possess these qualities since generally, people do not tend to learn data science. This is the reason why competition is less in this field making it easier to find a job provided that the salary of these types of jobs are usually pretty handsome.
12. Improve Your Problem-Solving Skills
In order to be a successful data scientist, you should have the desire to dig up a problem, find the questions at its center, and develop testable theories to solve it.
If you have an intense curiosity, chances are you’ll be successful in a career that is based on data science.
13. The option of freelancing opportunities.
In the future, it is quite obvious that a major quantity of workforce will not be tied to only one employer. It is a wise option to find different sources of income and ways of working so that they can have a perfect balance in life. If you are a data science enthusiast that means you will be well known about the trends, number, and data. This will help you in becoming a freelancer or consultant for many big firms. These kinds of jobs pay a good amount. Data science is mainly an IT based job that can be done from anywhere in the world as long as you have a computer in front of you.
14. The opportunity of developing new streams of revenue
When you are learning data science you will have the ability to analyze and use good data information to good use. Also, you will be able to identify unexploited and new streams of revenue generation. If you want to lead a lavish lifestyle by increasing your earning then this is the best way to do so. The competition is not very high right now so this is not an impossible work to do.
15. Job Security
Not only is it easy to get a job as a data scientist with the right skills now, but you won’t have to worry about getting a job in the future.
To choose to be a data scientist is choosing job security. The rise in big data and analytics isn’t going anywhere, and companies will continue to seek professionals who understand it.
Statistics and researches do not lie. It has been seen that data science learning
is a growing trend now because this field now offers numerous amount of job positions if you are fluent in this field. Also, data science is a relatively new field in the industry so there is less competition. Less competition means an increase in demand for job facilities. A Job position in this field offers a good amount of salary as well. Learning Data science opens the door of job options in various fields like health care and finance as well. These are the advantages of data science learning.
we learn that Data Science has transformed our society. Data Science gives meaning to data. It converts crude data into meaningful products that can be used by industries to generate insights and recognize market trends. With a dearth in the supply of specialized Data Scientists and a rapid increase in demand, there is a huge income bubble that has made Data Science a lucrative career. Here we conclude that learning Data Science is the hour of need and we must be data-literate to take up jobs of the future. Check how to become a data scientist.
Hope this article helped you to find out the reasons to start learning Data Science. Still any doubt? Drop a comment to us.