Last updated on June 15th, 2022 at 11:43 am
The Hike In Demand In Data Science Can Place The Way For Greater Youth Employment ..!!
These days the gold rush is around the oil of the digital era - data. According to LinkedIn, the career in the field of data science has seen exponential growth, becoming the Harvard University has labeled the position of a data scientist as “the sexiest job of the 21st century”.
With the AI hype in recent years, more and more companies are becoming more data-driven. This has, in turn, created a huge gap in the demand-supply curve for skilled professionals in the world of data. The demand for Analytics skills is going up steadily, but there is a huge deficit on the supply side.
There is a profoundly visible rise in data-related job profiles, like data analysts, data engineer data scientists, database developers, DevOps professionals; new profiles are being invented, like decision scientists. 2019 saw a 2.9 million open jobs requesting for analytical skills. According to recent data from job sites like Indeed and Dice, it is a great time to be a data scientist entering the job market. The average salaries for data scientists and analysts have grown suggestively. The current demand for qualified data professionals is just the beginning.
India currently has the highest global concentration of analysts. Even with this, the scarcity of data analytics talent is particularly high and the demand for talent is expected to rise as more global organizations are outsourcing their work. In the next few years, the size of the analytics market will evolve to at least one-third of the global IT market from the current one-tenth.”, says Srikanth Velamakanni, the co-founder and CEO of Fractal Analytics.
The Google Analytics data suggests that in recent years, there has been a significant rise in people who get curious about data, and data science training. With this large scale demand for skilled professionals, there are two scenarios that are developing. It is seen that industry professionals are upgrading their skill sets in the field of data science and machine learning. Corporates are promoting this kind of skill up-gradation by means of internal training as well. Technology professionals who are experienced in Analytics are in high demand as organizations are looking for ways to exploit the power of Big Data.
Another, more interesting scenario is that more and more youngsters, from college students to fresh job seekers, are flocking to the world of data. This is a positive note, as it will increase the creative pool in the field and also provide more innovative solutions to current scenarios. New and innovative ideas and approaches are already being tried and tested in different real-time scenarios that have powered the AI hype even more.
From a career point of view, there are so many options available, in terms of the domain as well as the nature of the job. Since Analytics is utilized in varied fields, there are numerous job titles for one to choose from. According to the Indeed report, data science job searches follow a somewhat seasonal pattern. In 2017 and 2018, searches peaked in April or March, reflecting the influx of students searching for internships, or soon-to-be graduates looking for their first jobs. Organizations are using various hackathons and hiring competitions to find a suitable talent pool out of the masses.
There are more data scientists entering the job market -- either from graduate programs or after getting "nano degrees" from massive open online courses. Along with the rise in demand, there was also a similar rise in various data science training institutes, certifications, and courses.
An important factor to consider in these is the authenticity of such institutions and the value of such training in the market. With hands-on projects and good exposure, courses of institutions like Imarticus Learning stand out among all courses in the job market.
