The data science industry is growing by leaps and bounds, courtesy increasing amount of data. According to IBM Marketing Cloud Study, nearly 90% of data (2.6 quintillion bytes) that exists today was created in the past four years.
The decisions that were earlier made using experience, are now made based on data. In the past few years, organizations have come to rely heavily on data-driven decisions. To make decisions, organizations are hiring data science professionals who collect, analyze, draw insights, and visualize data.
The data required for making decisions is spread throughout – inside company applications, public records, third-party websites, and more. Data science professionals use this data to help organizations make better decisions for the business. For instance, a data analysis, for a manufacturing plant, can reveal how many workers the plant needs to achieve the desired annual output, considering all the uncertainties such as absenteeism of workers, machine downtime, etc. Similarly, data science can help pharmaceutical companies accelerate drug discovery.
Given the rate at which data is generated today and the way organizations are using data to uncover insights, data science is bound to prosper. So if you’re looking to start a data science career, now would be a good time. Here are a few career trends that you should look out for in data science.
- Data science is needed in every industry
Data science is capable of helping any company improve their decision making. It is not limited to technology, finance, or any trendy business setup. As decision making using data science improves, slowly all industries will pick up.
As a data science professional, it is your responsibility to keep yourself abreast of such updates and ensure overall knowledge. This will increase demand for data science professionals as well as competition among the existing talent. Consistent upskilling by taking the industry’s best data science certifications, or working on independent projects will become a norm.
- Working professionals will transition to data analytics
Data-driven decision making is a part of nearly every job now. Marketing, for instance, leverages tools to extract insightful data related to consumer behavior to create better campaigns and improve marketing efforts. Similarly, other roles including sales, customer service, etc. use data-driven strategies to improve their impact. In this scenario, learning data analytics gives professionals an edge over candidates.
Not to mention, good salaries and progressive growth of data science professionals further encourages professionals from other backgrounds to get into data science.
- Diverse and ample opportunities will emerge
Data science is still new. Only a few prominent roles – data scientist, data engineer, visualizations expert, among others, exist in the industry. As the data science industry grows and businesses build more streamlined data operations teams, new roles will emerge. Coupled with the expansion of artificial intelligence, the roles will expand and professionals can find new and diverse opportunities.
- Data will be used for storytelling
There’s nothing more convincing than data. This premise will pick greater traction in the coming years and the use of data to tell stories will expand. Data separates fact from fiction and this will aptly be used by professionals and stakeholders across industries to tell more compelling stories.
Data visualization has already made in-roads to corporate boardrooms. As new and easy-to-use visualization tools emerge, data will be used widely across all spheres of life.
- Data literacy will increase
Until a few years ago, data science was alien to people. Today it has flooded the industry. Nearly every professional – in data science or not – is aware of data science and how it is improving the industry. As data science matures and processes to analyze data become better, people will become more aware of data science, leading to lower barriers of entry into data science.