In today's integrated society, data assimilation takes place every second. It is necessary to analyse this exponential data in order to gain insights about how to maximise business growth. Every action that humanity may possibly perform in the future will be motivated by it. No industry is currently exempt from the development of data science. Every industry, from manufacturing to retail, gaming to education, and medicines to retail, uses data science to make intelligent decisions and accomplish its objectives. Data Science is concerned with analysing and interpreting data in order to decode critical information based on an individual's browsing behaviour, discovering structured and unstructured patterns, forecasting future trends, and assisting businesses in making better data-backed decisions. Youth in India are becoming increasingly interested in data science as a result of its vast potential and rising global demand. This makes it essential to research and examine the job alternatives for data scientists in India as well as the reasons why young people are gravitating toward this field.
Evolution of Data Science & Data Analytics
The development of data science began with statistics. Since the early 19th century, basic statistical models have been used to gather, examine, and manage data. Later, when computers became widely used, the digital age began with the production of enormous amounts of data. Computerised statistical procedures and models were developed to manage such vast amounts of data.
After this digital era came the Internet era, which brought about an explosion of data and gave rise to Big Data. Data science was created as a result of the knowledge needed to process and manage this data. Businesses were able to process, gather, examine, visualise, and transform data into information so that they could make business decisions with the aid of data science.
Future of Data Science in Various Sectors:
In India, job listings for data scientists have increased by 29%. However, due to a lack of understanding about the opportunities in data science, only roughly 127 diploma institutes and 663 undergraduate colleges offer these new degrees. Surprisingly, this barely accounts for 10% of all institutes in the country. The global demand for data scientists could increase by 200% by 2026. Analysts predict that during the next five years, India will have more than 11 million employment openings in the field of data science.
Growth of Disruptive Technology: As more and more people connect to mobile devices, daily data quantities increase dramatically. Future development will be impressive for technologies like IoT, AI, big data analytics, blockchain, and quantum computing.
Social Networks: Data is created each time someone signs in to browse your newsfeed or watch videos. Age, gender, location, language, time spent viewing, content kinds watched, content types loved, shared user preferences, etc. As the demand for even more extensive customer data collection rises, data sources will keep growing.
Rise of AI and ML: The cutting-edge technologies will be AI, ML, and deep learning. There will be a significant need for experts who can handle these technologies. One of the critical duties of data scientists is the creation and instruction of machine learning modules.
Automated ML: Repetitive chores take up a sizable portion of data scientists' daily schedules. You can anticipate full or partial automation of these tasks. Data scientists will be more productive if they can automate processes like feature engineering, data cleansing and preparation, and algorithm selection.
Rise in Advanced Analytics: Data gives businesses the ability to understand consumer behaviour better and conduct thorough market analyses. Companies now have a renewed interest in predictive analytics. They can use it to forecast a product's performance or consumer response in the future.
Job Prospects in Data Science
Predictive models and algorithms will be used by businesses to standardise and digitise their operations and increase the effectiveness of the current approaches. Projects using data science would require a more flexible and scalable process. Companies need a professional staff with skills in business intelligence, math and statistics, computer science, and data science to accomplish that.
Top data science job profiles –
Engineering Data Mining: Data mining engineers are responsible for designing, maintaining, and testing statistical and predictive data, models, and algorithms in order to assess vast amounts of data within companies.
Engineer in Machine Learning: Machine learning engineers are entrusted with building and implementing machine learning applications, models, and algorithms to address pressing business issues.
Data architect or data engineer: Data engineers and data architects must monitor the organisation's minute data. They build and maintain a robust structural database that is massively scalable. They are also in charge of designing reports, assessing tasks, and developing data solutions.
Data Scientist: Data scientists are the primary investigators. They gain the capacity to appreciate the business's difficulties and propose unique tactical solutions based on data analysis and processing.
Statistician: A statistician interprets data visualisation software or reports to make intelligent recommendations or predictions.
Data Solution Analyst: Data analysts are mostly concerned with maintaining client-specific data. Data processing, data visualisation, policy and practice evaluation, and advocacy are just a few of the things they accomplish.
Benefits of studying B.Sc Data Science at Indus University
Large multinational organisations are currently looking for seasoned professionals with a concentration on data science all over the world, and they are specifically looking for people with a B.Sc in data science. B.Sc in Data Science is one of the most popular degrees among sophisticated hi-tech, market research, and IT organisations. The course is developed in partnership with our Board of Studies, a group of academic, research, and industry experts. As a result, the course is specifically intended to meet the needs required to keep up with current and future industry improvements. The student will get plenty of opportunities to gain hands-on experience with modern software wherever possible.
The data science profession ensures not only an individual's upward growth trajectory but also superior financial returns. As a result, it is becoming a profitable employment option for young people in India.