Data science is a process of simplifying and separating voluminous data to provide insights. Mr. P K Samal, Founder & Managing Director – eduXLL shared his thoughts that how It can assess and make choices to support and enhance the lives of displaced people based on their gender, age, skills, income, health, and so on. In other words, every individual, knowingly or unknowingly, will be involved in data science and data information utilisation.
In today’s digitally-driven world, data has become the cell and blood of businesses across industries. From e-commerce giants to healthcare providers, organizations are increasingly relying on data to drive decision-making, enhance customer experiences and gaining a competitive edge.
At present, no sector is untouched by the effects of data science. From aviation to manufacturing, gaming to education, every section leverages data science to make informed decisions to achieve its goals. Someone has rightly said- data now has become prerequisite almost for all the business out there
Data Science deals with analyzing and interpreting data to decode vital information based on an individual’s browsing behavior; identifying structured and unstructured patterns; analysing future trends, and helping companies make better information-backed decisions.
Data Science is amalgamation of art and science for extracting meaningful insights from large and complex database. It includes a diverse set of techniques, including statistical analysis, machine learning, data mining, and data visualization. Data Scientists play a pivotal role in uncovering patterns, trends, and correlations within data, thereby enabling organizations to make informed decisions. Whether it’s predicting customer behavior, optimizing supply chain operations or detecting fraud. Data Science empowers businesses to leverage their data for strategic advantage.
Data scientists may advise political campaigns, businesses, governments, and other organizations that need to use information to meet their goals. As a result, graduates with a data science degree can pursue many different careers.
As per a report by Nasscom, the number of data science jobs in India is expected to grow from 2,720 in 2018 to 16,500 by 2025. India’s data science education sector is reported to skyrocket to $1.391 billion by 2028 from $204.23 million in 2023, growing at a compound annual growth rate of 57.52 per cent. As per the recent studies the global demand for data scientists could increase by 200% by 2026.
As per the LinkedIn’s emerging jobs report data science has emerged as the fastest-growing job requirement globally, striking more than 650% growth since 2012. From USD 37.9 billion in 2019, the market will show an upward moment to reach USD 230.80 billion by 2026.
Bright, inquisitive individuals with a knack for solving problems often excel in data science programs. These learners often ask “how” and “why” things are the way they are. They then seek information to answer those questions. This field of data science welcomes all young blood to Excel in the carrier.
At the entry-level, one can start as a data analyst, a business analyst, or a data engineer. As a data analyst, you can fetch an average salary of INR 4.3 LPA within the range of INR 1.8 LPA to 11.9 LPA, while a business analyst can enjoy an average package of INR 7 LPA with a wide range of INR 3 LPA to 15.3 LPA as per your expertise. Similarly, a data engineer can avail of an average salary of INR 8.3 LPA, ranging from INR 3.5 LPA to 21 LPA.
Higher education in data science typically involves degree programs at the undergraduate and graduate levels. These programs often cover a combination of mathematics, statistics, computer science, and domain-specific knowledge relevant to data analysis and interpretation. It involves Bachelor’s Degree, Master’s degree Ph.D. Programs apart from above mentioned conventional degrees Online Courses and Bootcamps are also being catered for the student by the various universities.
These can be a good option for individuals looking to quickly upskill or specialize in a particular area of data science. It’s important to research and choose a program that aligns with your career goals, interests, and level of expertise. Additionally, practical experience through internships, projects, and competitions can be invaluable in supplementing formal education in data science.
Data Science and Big Data Analytics represent a transformative force in today’s data-driven economy. By harnessing the power of information, organizations can gain valuable insights, drive innovation, and create sustainable competitive advantages. However, success in this endeavor requires a strategic approach, investment in talent and technology, and a commitment to data-driven decision-making. As we continue to unlock the potential of Data Science and Big Data Analytics, the possibilities for innovation and growth are limitless.
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