Is Data Science a fad or a solid industry?

14There have been numerous articles on the internet about how fascinating Data Science is the sexiest job of the 21st century but of course there is a catch. The draw of a career in this field is undeniable — it is in demand, pays well, and has a right mix of technology, statistics, and business. People with industry experience are able to climb to the top with ease. However, this industry is currently in its nascent stages, so one must be careful before jumping head in.

This blog will give you necessary insights about the future one can have in the field of Data Science.

  1. High Demand

Data scientists have taken the top spot in Linkedin’s analysis of most promising jobs because of its 56% year on year growth. A study showed that 70% job postings in the world are for data scientists with less than five years of experience. Also, the job seekers have more opportunities because very few people have the skill set required to be successful in this field.

  1. High Salaries

Data scientists are making more money than people in other fields. This is because of the skills and the important role that data scientists play in a company. A study showed that a Data Scientist makes a average of Rs 10,00,000 Lakhs/ annum. This is one of the biggest pro of being a Data Scientist. Since it allows companies to make smarter, informed decisions, it gives them an important place in the company. Most importantly, there just aren’t enough Data Scientists available out there – which is why people can command large pay packages.

  1. Versatility

 The major benefit of Data Science is that these skills are needed and used in every sector right from e-commerce, automotive, health care and many more. You will not be stuck in an industry forever – as there are many sectors which need your skill set. For instance, the advent of machine learning (ML) signaled significant improvements in the health care sector, with one of the most significant applications being the detection of early-stage tumours.

  1. Challenging Work

Becoming a Data Scientist is a combination of Mathematics, Statistics, Computer Programming and Strategy. Since there are new innovations in technology everyday, you must also be updated about it. Moreover every project demands a different strategy and thought process.

It is these four, which primarily push an individual to develop and evolve at a rapid pace. Having knowledge about multiple industry sectors, numerous skills and the ear of senior management, is something which one can only dream of.

This is one rare industry which lets you do it all!

BSE Institute is a 100% subsidiary of BSE India, the world’s largest stock exchange. We provide various courses for individuals right from the college students to the managers in the executive suite. BSE Institute’s GFMP Certified Data Scientist Program is a 4 month course designed specially for freshers and college students to gain skills to be a Data Scientist. They can opt for well paid jobs right after they have completed their education.

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