The demand for experts in data science shows no immediate signs of declining.
Data is the core factor in which complex solutions can be solved. Therefore, every job sector needs data scientists. As a result of Glassdoor’s survey, data scientists were ranked the number one job on the website for three years in a row.
Tech giants like Amazon, Facebook, Google, Apple, and Microsoft are some of the biggest companies to have contributed up to 52 percent of the world’s market capitalization worldwide. Not to mention, they’re also known to be the biggest companies with the most data scientists and data engineers.
Technology plays a significant role in running a business. As technology evolves, it will keep getting better with time. In the present day, both small and large businesses heavily rely on data and the insights derived from it. The current data and analytics industry is estimated to be worth USD 189 billion and is predicted to reach up to USD 247 billion by 2022.
As data keeps growing, companies will need more resources to bridge the connection between business and big data. Although businesses can highly invest in big data tools and software, it is useless if the organization is unable to analyze the data – as most data exist in an unstructured and multi-format form.
2021 will represent a year wherein more emphasis will be given on actionable data. Therefore, businesses will be more focused on data analytics to further help extract valuable insights. These insights can help improve activities in an organization and make better business decisions. Big data is going to be much more accessible in 2021. Thus, opening new and limitless opportunities for every business operation to become data-driven.
The data science landscape offers promising career opportunities in the foreseeable future. An estimated 3,037,809 new job openings in data science globally, according to a recent survey by Analytics Insight. With the surge of job postings created by multiple companies across the world, professionals skilled in data science will be in high demand.
Some of the fastest-growing job roles in data science include data scientists, data analysts, data engineers, data architects, business analysts, management information system (MIS) reporting executive, information security analysts, and machine learning engineers. According to Analytics Insight, it is possible to have a diversification of data science job roles in 2021 due to the accelerated growth in robotics, hyper-automation, virtual agents, ML-based decision management, chatbots, and Robotic Process Automation (RPA).
In fact, due to the COVID-19 crisis, many people lost jobs due to economic downfall. However, the data science industry still managed to pull through the pandemic as compared to the other technology sectors. The data science sector experienced much lesser furloughs, pay cuts, and job loss. One of the major reasons is because they still have access to the tools and technologies to perform tasks despite working remotely.
The ambit of data is not going to cease any time soon. While most job roles may falter, experts in data science will remain in demand. Therefore, the need to adopt data science in every sector is imperative in the present day.