Are Data Scientists in Demand?


Today, the demand for a data scientist increases rapidly, but the supplies are comparatively less. The reason is because of the high salary, and also few people have master's degree in machine learning.

Quality of Data Scientist also plays a vital role in deciding the compensation. Most of them are working in Silicon Valley. Today, we are living in a world of big data. Almost everyone is using mobile, the internet, social media, Etc. People are using the internet more than ever before. Businesses want to collect their data for analyzing purposes and for making decisions. For example- companies like Twitter and Facebook collect data from their users and analyze it. They start showing more relevant ads to more people to profit from the ads business.

 Data scientists are in High Demand. It is a job which will be offered in the near future. It is a most wanted job in recent days. The companies want to hire data scientists with full of knowledge and experience. A data scientist plays the most critical role in the success of any organization. 

What is the Current Demand for a Data scientist?

There is a substantial need for data scientists in the market. It seems like there are 1.5 million job vacancies available. If one adds up the number of professionals with the knowledge, it comes upon USD 20 billion worth of gap between these two numbers.

The need is accurate, and it comes in quality and quantity, which has been a starting point for many companies to partner up with universities, develop the required training and offer it in the market.

One of the points which one think can help out in bridging the gap is that when it comes to having a combination of IT skills and business knowledge together, then these data scientists go into the picture because they can work on both fronts and let the user figure out what is best for them. On the other hand, there are people who can learn this on their own by reading books and blogs, which are of great help.

Data Scientists are highly in demand and it is one of the most lucrative positions in current times. According to a survey conducted this year by O'Reilly media, there is an acute demand for Data Scientists in the market. One out of five CIOs is planning to fill up that position.

Many big and small companies are willing to offer hefty amounts for the position of Data Scientist.

Reasons why Data Science Jobs are in Demand?

There is no denying the fact that these days Data science jobs are in abundance, and the reasons are listed below:

  • Data science is a blooming field
  • The pay is great
  • Companies are facing challenges with the handling of data
  • High Paying Job
  • Data scientists are a part of the decision-making process
  • A Plethora of Roles
  • Companies are facing challenges with the handling of data
  • Learning is never-ending

Given the high demand for Data Scientists and other data science roles, the salaries for the position are also raised. This job is among the top-paying in the industry right now. 

Are Data Scientists Still in Demand?

 According to the World Economic Forum, data scientists and analysts will become the topmost emerging role globally by 2022. There is a massive gap in demand and supply. The Demand for a Data scientist is comparatively high, and unfortunately, the supply is not meeting the Demand. 

Data science is a branch of science that involves the study of methods for storing and analyzing huge amounts of data. Many organizations use data science to make decisions on various aspects of their business. With the advent of big data, the demand for data scientists has significantly increased in recent years.

Industry experts claim that the growing adoption of big data analytics and cloud computing are the key factors contributing to the enormous demand for data scientists. Experts also predict that by 2020, the need for data scientists will increase by more than 44%.

Not only this but with technological advancements, there is also a considerable increase in the opportunities available in this field. As a result, many students are now choosing to pursue a career as a data scientist.

The median pay offered to a data scientist is approximately $120,000 per year. This proves that it is one of the best-paying careers in the U.S.A.

Is Data Science a Good Career?

Nowadays, Data Science has become a hot topic in the software industry, and this course is sold like hotcakes.

Data science is a field of study concerned with extracting knowledge from large volumes of data in various forms. So, regardless of whether you are a beginner or an expert in data science, you must be equipped with the right tools and skills to enable you to analyze data at scale and convert it into actionable insights.

According to a survey Glassdoor labeled “data science” as the third most desired career in America, not only in America Data science has spread its wings globally and is flourishing in the software sector, it's showing the promising result in career growth so no matter from which background you come from if you have the zeal to learn a new technology Data science will never let you down. Data scientists are at the top of the pyramid for data analytics professionals. These individuals are responsible for developing new algorithms or models for businesses.

Data science is proving to be a  great career option because the demand for data scientists is continuously increasing. Also, there is a high demand for people who can collect, analyze, and interpret data in the age of big data.

Data science has a bright future ahead of it, and with the increase in the number of data sources, it will continue to grow. So if you are thinking about starting a career in data science, now is the time to do it!

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