Is Data Science a Good Career?

Is Data Science a Good Career

What is Data Science?

The field of study that uses algorithms, scientific methods, processes, and systems to extract knowledge from structured and unstructured data is Data Science. Extraction information from data and applying this data across different application domains is what data science entails. The short answer is yes! Data Science is a decent career with numerous job opportunities, high-paying job profiles, and career growth is exceedingly well. With a plethora of perks associated with a Data Science career, it has been called the most promising career in the United States. Data Scientist job is also awarded the best job in American title by Glassdoor.

How to Become a Data Scientist?

  • Step 1: Learn the Basics of Data Science
  • Step 2: Practice and Build Projects
  • Step 3: A Bachelor’s Degree in Data Science 
  • Step 4: A Master’s or a Ph.D. in Data Science
  • Step 5: Apply for a Data Scientist Job Profile

Learn the Basics of Data Science

Data science is all about understanding the data patterns and deducing a conclusion based on the given data. When starting a career in data science it is important that you have a knack for data or the underlying pattern of data. Now data scientists use several tools like Python, R, Tableau, Power BI, SQL, Microsoft Excel, and so on.

When starting with the basics one must start with learning either Python or R. Most people prefer learning R, however, others prefer Python. Both are extremely easy to learn. You could either learn both or one of them. Python is suggested for beginners as it has the capability of handling complex data science or machine learning-related work. Remember it is not about the tools that you learn, it is more about learning the concepts. 

Practice, Build and Share Projects

The more you practice the programming language or the tools that have been selected to learn the more you’ll have a grasp of them. Now when you are thorough with the basics of data science, it is necessary that you start building projects. Take any interesting set of data, start analyzing it and deduce a conclusion with the basics or the programming language learning. Sharing your projects is not necessary but is suggested as this allows you to rectify your mistakes or learn from other data scientists. You could share your project on Github and allow others to view your project and comment on them. It also helps to connect with your peers or other data scientists out there.

A Bachelor’s Degree in Data Science 

A bachelor’s degree in Data Science is a must. Although, a bachelor’s degree in Computer Science, Information technology, Mathematics, Statistics are also acceptable. Data Scientists use concepts from mathematics or statistics, hence these are majors are all you need to become a data scientist. Can a candidate from other majors apply for this course? Yes! Absolutely! Candidates with a Bachelor’s degree from any stream are eligible for a career in data science.

A Master’s or a Ph.D. in Data Science

Usually, candidates complete their Bachelor’s degree and start applying for an entry-level job. There are only a few percentages of people that apply for a Master’s or a Doctoral in Data Science. It must be noted that there are more advanced career opportunities for candidates with higher degrees in data science. 

Apply for a Data Scientist Job Profile

If you are eager to land an entry-level job right after your undergrad degree, the best way to go is to apply for job profiles such as junior data analyst or Junior Data Scientist. It is necessary that you brush up on your data science skills and prepare well for the interview. 

What does a Data Scientist Do?

Data Scientists disintegrate data and study the patterns associated with it. Studying these patterns helps data scientists to put the data together and fit it across different application domains. Data scientists study where information comes from, how data fits together to tell meaningful stories, and what those patterns signify for business outcomes. Data Scientists use a set of various analytical and modeling tools to analyze and break down the data. This data is not always structured. A lot of this requires mathematics and programming skills. Listed below are the tools used by data scientists.

  • Power BI, Tableau
  • Spark
  • Python
  • R
  • Hadoop
  • SQL, Microsoft Excel
  • Mathematical Skills – Mostly Statistics and Probability

Demand, Supply, and Job Outlook of Data Scientists

Earlier, Microsoft Excel/SQL was used to analyze and disintegrate data. However, with the changing times, data-crunching tools like Google Analytics, Power BI, Tableau, Python, or R with data science algorithms are used by companies to stay afloat in the industry.

Now let us look at the demand of Data Scientists in the industry. 

Job profiles in any industry plateau after a while, especially in the IT industry. There was a time when programmers, web developers, were in huge demand. But as technology progresses and with new tools emerging now and then, several job profiles have been in the limelight, and one of them is the job title of a Data Scientist. A Data Scientist is ranked in the top three job profiles in America, and it is unlikely that it will fall this ladder. 

There are tonnes of data that is analyzed every day for different business or company outcomes. Data-driven decision-making is what drives a company’s success in recent times. Examples of this are big tech companies like Amazon, Google, and Facebook. These big techs use billions of data every day to improve customer satisfaction and increase their profits.

Google uses data science methodologies to rank relevant web pages as soon a customer searches a query. Facebook uses the smart concept of targeted ads. Whatever a user searches in the past or currently, the search pattern allows all accounts to display targeted or recommended ads to the users. Amazon uses customers’ past behaviors and interests to recommend the products.

The Job Outlook of a Data Scientist

Earlier it was tough to educate candidates about data science via the traditional education system. However, now the times have completely changed. Now the course can be learned online, by self-preparation, or by reading books. The Data Science field has more open jobs, and candidates from diverse backgrounds often join this career path. Most of the candidates do not have an educational background in data science. They have probably transitioned from other fields like business, psychology, life science, and so on.

Data science has more open jobs because the competition is pretty less and it requires only a Bachelor’s degree to land a job as a data scientist. As the competition is fewer, employers scrutinize candidates thoroughly, and it takes employers a little extra time to hire the right candidate. As the supply of data scientists is low, 60 percent of data scientist job profiles are filled by candidates with a Bachelor’s degree and a low percentage with candidates with a Master’s or a Doctoral. 

Glassdoor depicts that there was tremendous growth in data scientists’ job profiles since 2012. Even though data science is used by the big techs, if we look at the supply statistics of data scientists, it is relatively quite low even in 2021. Why? Because it is still a new career path, and candidates with a background in computer science are opting for courses like artificial intelligence and machine learning.

How Much Do Data Scientists Make?

The average base salary of a data scientist is USD 96,000 and USD 126,000 for a senior data scientist in the United States. But several factors decide the salary packages. Some of these include the region where one is employed, the level of experience, the employer. However, it is safe to say that the salary of a data scientist is high on the salary spectrum. The junior-level data scientists are also hugely rewarded by some employers. Moreover, it makes data science a lucrative career option for candidates genuinely interested in making their career as data scientists.

Frequently Asked Questions

  • I am from a business background. Can I get hired as a data scientist?

Yes, data science is a career path that is open to all candidates including candidates with diverse educational qualifications. You could be a candidate with a background in business and still become a data scientist. The minimum qualification a candidate needs is to have a Bachelor’s degree. It is also mandatory to be up-to-date with data science skills and work on as many projects as to give the employer an idea of your acquired skills.

  • Are there numerous job opportunities for a career in data science?

Yes. If we look at the data scientist job opportunities and compare them with other job profiles, there are numerous opportunities for aspiring data scientists. Data science is still a new career path, and candidates are still getting used to it. Traditional education methods have added ways for students to learn about data science. There are numerous courses available online as well. With a high demand for data scientists, we can also expect an increased supply of data scientists in the future.

  • Are there any soft skills required to become a data scientist?

It would be sufficient to say a knack for data and data architecture would work well. But there are also other skills required for a data scientist. These are necessarily not technical skills but the soft skills required to become a data scientist. A few of them are listed below:

  • Communication Skills
  • Team Player
  • Good Problem Solving and Critical Thinking Skills and so on
  • What is the approximate growth rate for data science in the future?

The U.S. The Bureau of Labor Statistics estimates a 28 percent growth in data scientist jobs by the year 2027. There is strong growth in the data science field. A 28 percent growth roughly approximates to over ten million jobs in the future. It is a high number and a whooping opportunity for future data scientists.

  • Is it easier to get a job as a data scientist?

It is not easy to get a job as a data scientist. Data Science is a new career path but takes double the effort, commitment, and hard work to learn the course. The demand for data scientists is high, however, the supply is low, which is why there are more data scientists open jobs. As the supply is low, the competition is fierce, and the number of candidates who apply for the job either have a Bachelor’s degree or have a different educational background. It is the reason why candidates find it easier to get hired as data scientists.

Is Data Science a Good Career?

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