Big data is here to stay because the world is becoming increasingly digital. In fact, big data and data analytics will become even more significant in the years to come. You'll make a great choice for your future if you pursue a career in big data and analytics, and you might land the job you've been looking for.
With a median salary of $116,000 for data scientists, professionals in this field can anticipate an impressive salary. Even entry-level workers can expect high pay, with an average annual salary of $92,000. The demand for big data and analytics experts will increase as more businesses become aware of this need. There is a shortage of experts in the field, according to almost 80% of data scientists.
What are the Qualifications required to enter the data science field?
Over 92% of data scientists hold a doctoral degree or higher. Only 8% of people have a bachelor's degree, compared to 44% who have a master's and 48% who have a doctorate. It follows that those who want to advance their careers and have the best chance for a lengthy and fruitful career with excellent pay will need to work toward obtaining a higher education.
However, many people also choose certification courses like IBM-accredited data science course in Pune, from Learnbay.
Given that many of the working Data Scientists have only been doing so for a short period of time—less than four years—now is an ideal time to enter the field. This is merely a result of how recent the field is. Being involved in big data and analytics now is similar to being a pioneer in a burgeoning technology field.
Data analytics potential and future
In fields like strategic management, retail, pharmaceuticals, government civil services, research and development, marketing, sales, and promotion, big data is becoming more than just a technology. Big data analytics is now a concept that can generate income for businesses. Industry behemoths hire highly qualified personnel to manage massive datasets and generate business insights.
By the financial year 2025, Statista predicts that the global market for big data analytics will increase by 30% and generate revenue of over 68 billion USD [Source]. Up until 2030, it is anticipated to increase at a CAGR of 13.5%, totaling USD 252361.3 million.
After COVID, Data-driven strategies have been adopted by 19+ companies. Organizations have implemented big analytics software and cloud-based analytics to deal with crucial data, enhance data security, and boost overall productivity. Causing an increase in employment opportunities for qualified professionals. Experts can influence market growth and their own personal development by developing their analytical thinking.
Different Job Roles in Data Science
Today's professionals frequently perform multiple roles throughout their careers. They might take on the role of researchers who are tasked with extracting information from company data. They could also work in business management. Approximately 40% of professionals hold this position. Others hold positions in development and creative fields. A person may be more valuable to the team if they are adaptable and can play various roles.
Additionally, it can be beneficial to be open to working in various industries. Data science is currently used in 41% of jobs in the technology sector, but it is also becoming increasingly important in other fields. This includes the fields of marketing, business, consulting, healthcare, finance, and gaming.
Roles and responsibilities for data analysts
It is the process of importing, purifying, transforming, and validating data to create the conditions needed to use analytical tools. Monitoring the accuracy of the data as well.
Presentation of data through charts, tables, and graphs, as well as creating relational databases for more accurate classification. Creating clear data reports that show the business the insights.
Create automation processes to improve the organization and analysis of data efficiency.
Data analysts apply statistical, analytical, and mining techniques to identify significant patterns and inferences from large datasets.
A data analyst draughts observation reports for both internal and external audiences. The reports need to be concise and should give a thorough explanation of the business insights and forecasts.
Get Started with Big Data
Big data and analytics are dynamic fields. The field will change and advance along with technology. Big data and analytics professionals who want to advance their careers must take the initiative to keep up with any developments that may have an impact on the industry. Join India’s best data analytics course in Pune, which offers advanced data science and AI training for industry professionals.