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Data Scientist is one of the most in-demand professions. Data is generated at a rapid pace in recent times. Data scientists are a true asset to the organizations nowadays to extract, understand, analyze, process, visualize and communicate the huge amount of data generated every day. The top companies like Google, Amazon, and Visa are using Data Science in order to optimize themselves and to address their rapidly expanding data.

According to Raconteur,

By 2025, it is predicted that 463 exabytes of data will be created each day globally — that’s the equivalent of 212,765,957 DVDs per day.

Every day,

  • 500 million tweets are sent
  • 294 billion emails are sent
  • 4 petabytes of data are created on Facebook
  • 4 terabytes of data are created from each connected car
  • 65 billion messages are sent on WhatsApp
  • 5 billion searches are made

Due to the huge data created, there is a huge demand for data science professionals to manage the data. 

The data science job vacancy has experienced rapid growth in recent years as shown below.

Data Science Vacancy trends

(Image Source: IT Jobs Watch)

According to IBM, an increment of 3,64,000 to 2,720,000 openings will be generated in 2020. The demand will only grow further to astonishing 7,00,000 openings.

The role of data scientists and business analysts is more sought after in the U.S.A.

Data science is a broad spectrum. The roles in the data science field in demand are: 

  • Data Engineer
  • Data Administrator
  • Machine Learning Engineer
  • Statistician
  • Data and Analytics Manager

Which sector of the industry has a high demand for Data Science Professionals in 2020?

The demand for Data Scientists is growing exponentially in all the industries. Out of all the openings, 19% of data science professionals job is secured by the Finance Industry. 

Demand for data science

  • Finance and Banking industry: Data Science is used in risk analytics, real-time analytics, fraud detection, algorithmic trading, customer analytics, customer data management, Algorithmic Trading. There is a demand for data scientists due to the huge amount of data created.
  • Healthcare: Data Science is used for predictive diagnosis, medical imaging, drug discovery, genetics.
  • Airline and Aviation Industry: companies use data science to improve their services like customer experience, fix flight schedules, safety data, route optimization, preventive maintenance, etc.
  •  Manufacturing Industry: Data Science is used for optimizing production, reducing cost, and boosting profits. 
  • Transportation Industry: Data Science is used for an extensive analysis of fuel consumption patterns, driver behavior, and active vehicle monitoring.
  • E-commerce and Retail industries: Data Science is used for identifying potential customer base, optimizing pricing structure, predictive analysis for forecasting and knowing the recent trends. 

Which job roles in Data Science are in demand for 2020? 

1. Data Architect — The data architect develops architecture effectively to organize, integrate, centralize and maintain data. There is a tremendous demand for data architects. 

Skills required: Pattern recognition, clustering for handling data, text mining JavaScript frameworks like HTML5, RESTful services, Spark, Python, Hive, Kafka, and CSS 

According to Glassdoor.com

Data science architect average annual salary

The average annual salary of a Data Architect is $115K/year.:

 

2. Data Engineer — Develops, tests and maintains data architectures to keep data ready for analysis. They mainly focus on development, deployment, management, optimization of data pipelines and infrastructure to transform and transfer data to data scientists for further analysis

Skills required: Programming languages (Java, Scala), NoSQL databases (MongoDB, Cassandra DB), frameworks (Apache Hadoop)

According to Glassdoor.com,

Data engineer average annual salary

 

3. Data Analyst — The data analysts process and interpret the data to understand and analyze the insights from structured and unstructured data. 

Data analysts are responsible for translating technical analysis to qualitative action items.

Skills required: Programming skills (SAS, R, Python), statistical and mathematical skills, data wrangling, data visualization

According to Glassdoor.com,

Data analysts

4. Data Scientist — Once the analysis is done, the technical aspects required are taken care of by data scientists. Data scientists are used to source, manage, and analyze large amounts of unstructured data. 

Skills Required: Statistical and Mathematical skills, Programming skills (SAS, R, Python), Storytelling and Data Visualization, Hadoop, SQL, Machine Learning

According to Glassdoor.com

Data scientists average annual salary

According to  Data Science Salary Report 2020 Europe by Big Cloud,

 

The salaries of data science professionals are highest in Switzerland for different Data Science Professionals.

Data scientist professional salary in singapore

U.K Data scientist professional salary

Netherland data scientists salary

Italy

Germany

France

 

For more information on how iCert Global can help you to achieve your Data Science Certification goals, please visit our Data Science Certification Training Courses on our website.

The Data Scientist certification validates data scientist’s knowledge on SAS, R, Hadoop, Python and Spark and how to use data concepts such as data exploration, visualization hypothesis testing, and predictive analytics. There is a huge demand for Data Scientists in industries like Aerospace industry, IT industry, e-commerce industry, and healthcare industry.

Know more about our Professional Certification Training Courses for preparing for the above certifications.

 

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Comments (1)

  • Barney

    2020-03-15

    I am ɑctually grateful to the owner of this site wһo hɑs shared this wonderful article at this time.


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