There’s no doubt that the latest buzzword in the Technology world is Data Scientist. With the major growth in the amount of Data, the demand of Data scientists also increases. This is clearly visible that how the technology is evolving day by day and the need of assembling data is vital because it allows the companies to influence and determine the trends in specific business
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What is Data Science?
Let’s us deeply Understand that What is Data Science? In the simple words, the study of data is known as the Data science which involves evolving methods of storing, recording and most importantly analyzing the data to gather important information.
The main objective of Data science is to increase knowledge and insights from both structured and unstructured kind of data. Various advanced technologies such as Deep Learning, Internet of Things (IoT), Artificial Intelligence (AI) enclosed by Data Science.
Future scope in Data Science
Now we will talk about the future scope in Data Science. In the coming years you will see a massive demand of Data Scientists. A survey report says that around 98,000 data analytics are available in India. The demand of Data Scientists is listed below industries are very high.
Need of Data Engineers in Healthcare Industry is increasing day by day for building the automated systems to do the analysis of huge data in medical applications. By 2021, there will be more than 25,000 jobs for data engineers in healthcare field.
With the increase in fraudulent activities, usage of Internet, online transaction, big organization and companies are accepting the new techniques of Data science. Due to this, by 2021, there will be more than 6,000 jobs available for data scientists.
Airlines and Aviation:
Data is used to optimize routes, put up the prices and doing the preventive maintenance and that’s why more than 4000 jobs will be available b 2021 in this industry.
E-Commerce and Retails
E-Commerce and Retails are said to be the most applicable industries which demand the data analysis at a very large scale. Data analysis is best suited for this industry because it assists the companies in predicting the profits, purchases, losses and sometime manipulating the clients for buying the products through tracking the behaviour. For retail brands, it helps in analyzing he profiles of their customers and according to the outcome, they promote their product
For numerous reasons, we can use data science in Manufacturing industry. The main uses of data science in this industry are given below:
- Minimizing the risk
- Increasing the profit
Listed below are some parts where we can use data science for improving the processes, productivity and predicting the tends
- Quality assurance, defect tracking and performance.
- Conditional and Predictive maintenance
- Throughput and demand forecasting
- Designing and Automation
- Better energy productivity
Data Science Jobs Roles
- Software Engineer
- Data Analyst
- Senior Software Engineer
- Data Scientist
- Software Developer
- Sr. Software Engineer
- Senior Business Analyst
- Business and IT Analyst
- Senior Data Analyst
Major Job Responsibilities in Data Science
Big Data Engineer: Big data engineers are responsible for maintaining, testing, developing, and evaluating big data solutions in the companies.
Machine Learning Engineer: Machine learning engineers are responsible for building the design and implementing the applications and algorithms of machine learning for facing the business tasks.
Data Engineer: Data engineers play a major role in constructing, developing, testing and maintaining highly accessible systems of data management.
Data Scientist: Data scientists’ main role is to check the business challenges and suggest the best resolutions using data analysis.
Statistician: Statistician understands the results and the strategic references or we can say insightful predictions by using the data visualization reports or tools.
Data Analysts: Data analysts have to manipulate the and data and visualize.
Business Analysts: Business analysts use descriptive, prescriptive and predictive analyses for converting the huge data into the one which can easily understood actionable visions for the workers.
Senior Data Scientist salary in India (In Rupees)
|Compensation||Salary Range Per Annual|
|Salary||Rs 9,90,734 – Rs 20,70,477|
|Bonus||Rs 1,030 – Rs 792,758|
|Profit Sharing||Rs 95,000|
|Total Pay||Rs 10,95,982 – Rs 2,506,994|
Entry level data scientist salary in India
|Compensation||Salary Range Per Annual|
|Salary||Rs 4,90,734 – Rs 6,91,552|
|Bonus||Rs 900 – Rs 4,450|
|Total Pay||Rs 4,95,800 – Rs 7,06,994|
Top Companies which hire Data Scientists
Below is the list of some renowned companies that recruit data scientists
- Mate Labs
- Walmart Labs
- Fractal Analytics
- Busigence Technologies
Use of Data Science
- Data Science helps in financial modeling
- We use it to analyze the customer emotions on the social media platforms.
- Looks at how customer use the products and inform about the development of products.
- Targets the customers via attractive messages on the right time.
- Improves the retention of customers.