We live in a world of data. With the advent of the industrial revolution, as we are generating a huge amount of data in every fraction of second, it has become imperative for our generation to control and manage a lot of information derived through recent, intensive technical developments. It is roughly estimated that, currently, we are residing in a world which produces 2.5 quintillion bytes of data every day. With the introduction of computer in the life of human history in the last century and its subsequent stupendous progression, meaningful organization of data by professionals have become a worldwide phenomenon. As the applications of computer science and technology have penetrated almost all areas of human life in the 21st century, management of the humongous amount of information and data has been important for all areas of human activities. Modern-day Information Technology giants like Google, Facebook, Microsoft already carry billions of gigabytes which are being handled and applied by best brains around the world. It is the sheer necessity of this effective management that has triggered people from all over the world to take up the technology of data as the wisdom of the next generation. As more than 90% of data generated by humans are already in digital format, the role of a data scientist has become increasingly important in many organizations but on the other hand, unfortunately, it is estimated that the world has a considerable shortage of Data Scientists.
With the Big Data wave showing no signs of slowing down, global companies are hiring Data Scientists to tame their business-critical Big Data. This has also resulted in the emergence of the science of data as a course, worldwide, in a typical university setting. A lot of young professionals from all over the world are getting inspired by a quantum of academic and professional opportunities offered by a Master’s level course of Data Science in reputed universities. A Glassdoor report finds Data scientists create the best jobs in America, and the report goes on to say that the median salary for a Data Scientist is an impressive $91,470 in the US and there are over 2300 job openings. LinkedIn voted “statistical analysis and data mining” the top skills that got people hired in 2014, and Glassdoor reports that the average salary for a data scientist position is about $118,000.
Let’s discuss a couple of major job descriptions. For instance, a young data science graduate can work as a Data Analyst, Data Mining Engineer or a Statistician. A Data Analyst works for telecommunications companies, finance companies, manufacturing companies, construction and other utility companies and as a Data Mining or Big Data Engineer one normally serves for tech companies, entertainment companies, retail and trade companies like Amazon, American Express, Barclays, Deloitte, EMC Corporation, McKinsey, Netflix, Twitter, Uber etc. In these organizations, the major designations in Data Science include:
- Data Scientist
- Business Analyst
- Data Analyst
- Research Scientist
- Analytics Manager
- Business Intelligence Consultant
- Analytics Consultant
- Data Architect
- Research Analyst
- Web Analyst
- Quantitative Analyst
- Senior Web Analyst
We hope that the world of data science will create new roles, job description and professional opportunities across the globe as the internet bubble is going to explode to create new ways to make our life simpler and convenient.
Mr. Nilanjan Dasgupta
Imperial Overseas Educational Consultants