There have been several instances where we have come across the word Data. Many nations have shifted their focus towards storage of data in the previous two decades which still continues to face numerous challenges. When we talk of big data, we shall also understand the science behind the term, as data has become an essential tool in today’s business operations. Data science is seen as the study of various processes by which knowledge is obtained and gathered from various forms of data that is available. Data Science covers several areas such as programming, data mining, data visualization, machine learning and many more. A Data Scientist is a person who possesses skills connected to social science and technology. Besides, he is also expected to hold experience in data mining by which he would be able to undertake highly complex decisions that are primarily driven by data in any organization. In fact, several problems faced by societies across the globe and the level of information available to address these problems are only increasing with every passing day is only expected to make this subject highly sought after by individuals globally.
The study of data science has gained enough traction over the last decade. With the interconnection of data science and artificial intelligence (AI), machine learning has gathered pace, as it involves learning from the available data over time and is also seen as a part of AI that can be applied to data science. The motive of AI is to make machines intelligent and make it capable of performing the tasks of humans with ease by using the technology that is available.
Having understood data science and the role that it would play in the coming years in every aspect of human life, an individual could choose to pursue a career in data science. The career options that could be suitable for an individual who has chosen to opt for a career in this field would primarily be to pursue a Bachelor’s degree in Computer Science, social science or statistics, as the profession requires an individual to process huge amounts of data including performing data analysis. Subsequently, the individual could also enrol for a post graduate degree programme in Data Science that predominantly covers the area of mathematics, business statistics and operations research, computer science and others. Besides, the programme offers an opportunity to get trained in the use of various languages such as XL-Miner, Python and few others. The program is also designed to help working professionals who have industry experience to get an opportunity to work and handle data. Individuals may also undertake a PhD course depending upon their interests, as it helps individuals to acquire better skill sets in data science. Having possessed these numerous skill sets, these individuals would be most sought after globally, considering the way in which the whole world is moving towards a data and tech driven economy. The salaries drawn by a data scientist is highly lucrative and promises a rewarding career, considering the nature of work performed by a data scientist professional.
Data Science is applied towards the fulfilment of certain financial objectives. Data collection about the past is obtained and using the past data, an analysis is performed to apply it to control the future. In the process of application of data science, we cannot afford to ignore the positive aspects it brings to society such as greater accuracy in the functioning of public services and helping ensure stability to the security of nations. Medical and healthcare industry are also being targeted as data science solutions are being devised to help the world reduce significant levels of expenditure for the industry. Medicine and data science have seen rapid developments and progress in the past decade and are expected to complement each other while progressing ahead. With research on various drugs discovery process set to take several years to materialize, data science is expected to play a significant role with machine learning algorithms that can be utilized at every stage to predict chances of success by involving the use of a particular compound in a body to find out its reaction using mathematical techniques and simulations. In this way, it is believed that predictions of outcomes can be worked out with greater accuracy.
The skills expected to be acquired of an individual in data science are numerous, as the nature of work is such that it involves data collection and analysis of various forms. Data can be in structured as well as unstructured forms and sometimes partially structured. With formalized job positions in data science filling the job market such as Business Analyst, Data Analyst, Data Scientist, Data Engineer, Machine Learning Engineer and many more job positions, this profession holds a promising future for talented individuals who have the necessary analytical skills, aptitude and thirst for data collection, analysis and reporting.
Countries such as the USA and Switzerland are leading when it comes to offering premium salaries to skilled and knowledgeable data science professionals. The United States of America pays over USD 1,12,000/- a year to data professionals and this is followed by countries such as Switzerland and Norway who are offering around USD 110,000/- and USD 87,000/- to these highly skilled and tech savvy professionals.
Considering all of these factors and the roles that will be played by a data science professional in various industries across the globe, this career is sure to raise the bar for many and take off on a positive note for those data savvy professionals who want to venture and dive into this role that has exploded in the past decade and is expected to change the way the world will be driven.
