Every day is a tech-fest. New technologies, new updates to existing technologies, and hefty increase in investments in research and development. Data Science is a completely new industry that uses many tools that help an MNC multiply its business with ease.
You may have come across terms like data science, data analytics, big data, predictive analytics, etc which will herald a completely new industry with high paying jobs and a secure career. This is definitely true, as big data is helping many businesses sell much more than what they were used to selling. There are companies that are hiring data analytics professionals, because this will increase their efficiency and save them billions of Dollars in wasteful expenditure!
Before you get too excited, let’s answer a few basic questions.
Is Data Science right for you?
A person who doesn’t enjoy his work will be tempted to try a different opportunity instantly. Moreover, a field like data science is paying quite well, due to a dearth of skilled talent.
Let’s settle this by saying, you’re not going to succeed in this field if you don’t have the aptitude for it. You need to have a strong aptitude for mathematics, statistics and common logic for succeeding in this field.
Which skills does the industry need?
A Data Analytics division can be sub-divided into different categories.
- One of them is data analysis. It involves analyzing raw data, and ultimately getting actionable insights that can be used by the senior management for critical decision making.
A person who enjoys solving complex business issues is sure to succeed here.
- The next category is Business Analysis. Managers with business exposure and who regularly take business decisions are an ideal match for this. More data gives them a better picture and lets them act using information.
- The final category, which is definitely the most important one – is that of data scientists. They are the some of the best paid professionals in India and the World. Every Data Analyst and Business Analyst hopes to grow and attain this position. This requires certain standard of skill set, specialized training, and a statistical problem solving approach that matches this job. Having a few years of experience as an analyst is useful. Data Scientists are usually the ones designing key analytics models that help in understanding the industry, consumer markets and consumers themselves.
Entering the industry
Candidates who have practical experience are always preferred over the ones with academic knowledge. When it comes to academics, a candidates with a background in Mathematics, Engineering, and Statistics might have an edge over the rest. These are a few streams which skills which are useful for Data Analytics.
Where to start?
To get a better idea of what Data Analytics has, you could simply opt for one of the online courses on data analytics by bsevarsity.com. Along with that, assess yourself and gain skills that could help you be better to be industry ready.
We are part of a fast moving world, that demands everyone to be versatile. To keep you up with latest industry trends, BSE Institute Limited and IIT Madras offers a Business Analytics Program to nurture the budding data scientists.