Data Science is an interdisciplinary approach that involves the study of science, mathematics, Algorithms, machine learning, programming and data analysis to extract the knowledge and insights from both the unstructured and structured data. Nowadays, Data Science became the core area of various industries. Data Science consists of three main components like organising, packing and delivering of data. The data scientist is the person who analyses and researches the data to help the companies and organisations to predict their growth, trends and also to understand the insights of the business.
The person who is interested in business programs, statistics and computer programming can select the Data Science for their career. They should possess analytical skills, technical &programming skills and strategical awareness for dealing with the data and its solutions of hidden problems.
The data will increase as the year passes. So, it will be an inconvenience to analyse and store the data using traditional BI tools. Here comes the demand for Data Science and Data Scientists. Let check the major Industries which demands the data Scientists and the job prospects in data science.
Future Prospects of Data Scientists
Data Science will help the manufacturing industry to increase the profit, check the productivity growth, profit trend etc. It can also use to check the global market pricing, demand and supply side of the economy, track the defects and performance in the services and production, can introduce new production methods and techniques for the improvement and growth of the units.
The data Science can revolutionise the health sector by improving the facilities and the way to improve the quality of services. Electronic medical records, clinical systems, billing system etc. will help the health care sector to provide better health services by insights from previous patient data.
The data science will help the E-Commerce for identifying the customers, to check purchase trends, product analysis its profit and loss trends. It will also analyse the reviews and data of customers so that the retail brands can push their products according to the interests of their customers.
Banking and Finance
In the banking and finance sector, the information technology will help to manage the client’s personal information, their transaction pattern, all debit and credit transactions, risk and fraud management data. This will help them to implement effective processes and securities for all the banking and financial activities.
The top recruiters of Data Scientists are as follows:
- Busigence Technologies
- Walmart Labs
- Mate Labs
- Fractal Analytics
Various Job roles in Data Sciences
- Data Analyst: The data analyst handles the data visualisation and its manipulations. The approximate salary range for this job position is Rs.190000 to Rs. 900000
- Data Scientist: Data Scientists have to observe the challenges of a business and thereby provide effective solutions by analysing and processing the data. The salary range of a data scientist is Rs. 330000 to Rs. 2000000.
- Machine Learning Engineer: to address the business challenges the machine learning engineers will design and implement the machine learning applications and algorithms.
- Statistician: the statisticians use the data visualisation tools and reports to interpret the result and will suggest new plans and strategies and will also make predictions of future growth and trends of business and its allied areas.
- Data Architect: they will construct, develop and test the highly scalable data management systems.
- Business Analysts: Business analyst transforms the complex data into understandable manner for the users by using the prescriptive, descriptive and predictive data.
- Big Data Engineer: they evaluate, develop, maintain the big data solutions of the organisations.
Other job types
• Business Intelligence Developer
• Applications Architect
• Infrastructure Architect
• Enterprise Architect
• Data Engineer
• Machine Learning Scientist