In the simplest of words, Data Science is the study of data and involves using different techniques to draw meaningful insights from a given data set. It spans various fields of study, including mathematics, statistics, computer science, among others. Recently, Data Science has emerged as one of the most lucrative career choices for freshers. However, many students are unsure whether it is the right choice for them.
Why should one choose Data Science Career?
There is no right answer for why you should go for a career in Data Science However, there are some facts that might drive you towards this field.
Data Scientists are one of the most in-demand professionals across the globe. From mid-size firms to multinational corporations, everyone is looking to hire skilled Data Scientists to reach their business goals.
Here are some insights on why one should become a data scientist.
1. Attractive financial package
A data scientist with a couple of years of experience can make an average of $106,000 per annum in the US with attractive median bonuses. When a candidate reaches the managerial level, he/she can expect around $140,000 as of the median annual base salary. With median yearly bonuses, one can out-earn many surgeons too!
2. Lack of competition
There aren’t many people who change from other streams to data science, and generally, there is always a shortage of data science. Most employees prefer to finance and accounting professionals to mine and extract data, identify significant data trends, etc. However, not many are proficient enough to enter these fields. This infers that there is minimal competition in the data science landscape.
3. Huge job opportunities
Each year, there are many unfilled job positions across the globe due to a lack of required skill sets. There is an ever-increasing demand for data scientists, and there is a considerable deficit in supply too. Due to the severe scarcity of data scientists, experts recommend aspirants that this is the best time to enter the data science field.
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4. Rapid growth
Data science – a field that is gaining momentum across industries, and it isn’t going to dwindle anytime soon. As a data scientist, the person will be doing research and analysis to find answers to issues/problems and make quantitative, informed decisions. With the recent increase in the number of sensors, computing power, and insight-extraction algorithms, data science will likely be the field that offers rapid growth. The candidate has the requisite knowledge and experience.
5. Interesting job role
Data scientists mainly work on researching human behavior. From creating a chatbot to understanding user experience online, the candidate will be working mostly on the way humans act as a data scientist. So, they will be actively involved in one of the most important projects of the century.