Increasing Importance Of Data Science And Data Scientists!

As several thousands of terabytes of data is getting generated every day, organizations must use state of the art technologies to leverage data. It has become extremely important for business establishments, research institutes, banks, government organizations and a multitude of other organizations to put in place a data driven strategy without which it is impossible to stay relevant in a digital ecosystem. 

For instance, in the retail industry there is a surge in the number of customers who prefer to buy stuff online and in-order to attract such customers, retailers need to go online and utilize consumer data to boost sales. 

Take For Example the Case Of Amazon:

  • It is one of the leading e-commerce platforms and its founder is the richest person in the world. However, amazon does not own most of the products and the company utilizes third party sellers to do business. 
  • With the help of advanced data science processes Amazon can excavate important information from the sea of collected data and make predictions, spot trends and identify potential customer needs based on the excavated information. 
  • The third-party sellers are offered such business insights too (Amazon Brand Analytics) by the help of which independent sellers are able to build a brand and achieve success through amazon!

And not only amazon but a number of companies have today adopted data science techniques to reap the benefits of data, important examples being- Netflix, Google, JP Morgan, Pepsi Co. and Facebook.

Importance Of Data Scientists

Data scientists are innovative and creative brains behind the amazing data science techniques. Based on their exceptional skill sets data scientists are able to solve problems which were previously thought to be unsolvable. A skilled data scientist brings together statistics, mathematics, computer science and engineering to build systems capable of mining massive data sets. The most important asset of data scientists is the skills they have and companies are willing to shell out a lot of money for hiring highly skilled data scientists. The profession has assumed a key role today owing to the rapid digitization of industrial sectors across the world and is known for being the most lucrative career path.

A Persistent Talent Shortage!

The demand for data scientists has been very high lately but there are not enough individuals to fill the vacant positions. IBM reports that 28% of all the jobs in the digital sector are for data scientists but much of the data science positions remain unfulfilled for a period of 45 days. In India the problem is worse and India times reported in October 2018 that nearly 50,000 data science jobs are lying vacant due to lack of skilled professionals. 

This is why innovative and creative minds in India must pursue a Data science certification course in order to earn the requisite skills in Data science and get employed as a data scientist. A good Data science certification programme will train individuals in key data science tools and let them get ready for grabbing all the great opportunities offered by data science today.

Leave a Reply

Your email address will not be published. Required fields are marked *