The global pandemic has shattered millions of businesses as the economy continue to slump.
While many other businesses had to transform their operations, the field of data science had a stable momentum. However, the jobs in the data science industry will keep growing.
Every second we create around 1.7MB of data. With 5 million tweets made, 306.4 billion emails sent, and 95 million photos and videos shared on Instagram daily, it is surprising to see how much data we’re generating.
The increased usage of mobile and social media websites amid the pandemic crisis has generated large volumes of data. And this will continue till the foreseeable future. But these data are of no use unless there are skilled professionals to analyze and derive actionable insights from it.
In the present day, we’re witnessing a serious dearth of such talents. This is why tech-savvy graduates and aspiring data scientists are upskilling in data science.
As said by Clive Humby, a renowned mathematician, “data is the new oil.” For instance, just like oil, raw data is of less value unless it is gathered and analyzed accurately. When data is refined, this data can be used as a tool to make better business decisions.
Post lockdown, we’ve seen a lot of companies resuming their work while others are still working from home.
The unpredictable situation caused by COVID-19 has slowed down the economy, leading to multiple loss of jobs across different sectors. Despite the critical situation, emerging technologies like data science, big data, and artificial intelligence (AI) are still surviving.
The utilizing of big data, data science, and AI were believed to be approached with a certain trepidation in the past. However, things have changed drastically during COVID-19. People have now seemed to accept how these technologies helped manage resources while navigating amid the COVID-19.
According to many experts, jobs in the data science field did not undergo mass layoffs, furloughs, or salary cuts. However, jobs in data science will only continue to rise, and companies will now need data science skills more than ever.
Given that employers have started actively seeking experts in the AI and data science domains, hiring in both fields hastens. Big data, data science, and AI were already transforming the way organizations are managing their business, and as the pandemic strikes, expertise in such fields will be sought after more than ever.
Besides companies, even the government has been implementing data science and AI to get through the crisis and bring the economy back in place.
Around 92 percent of those in the leadership roles said the demand for analytics services is going to gain huge traction post-pandemic.
Will the post-pandemic crisis create more job opportunities for data scientists? Most certainly, it will. Data science touts to be an integral part of a business. And the need for making smarter decisions has never been desperate by companies. Therefore, it will still be the most sought-after skill set in every sector.
However, as remote work becomes the new norm, it is likely possible for people to face increased competition in this sector. One of the major reasons is because businesses today are not bound to hire professionals from their geographical region.
As a result, this will only create more competition between freshers and experienced data scientists who are looking to start their careers amid the pandemic. This can be challenging for freshers as they would be competing with amateurs from different countries.
To stay relevant, freshers will need to constantly upgrade their skills.