DATA SCIENCE
Introduction
Data scientists combine mathematics, statistics and the use of computer science to extract, compile and analyze data from thousands of data sources in order to build creative and innovative business solutions.
The role of data scientist in industries is increasing day by day as it's gaining popularity across all sectors. It has become one of the most in demand jobs in the world because data scientists can help increase a company's profits.
Data Scientist's job involves solving the problems of his or her client by providing solutions using real time data and tools and algorithms.
Industries and Departments in which Data Scientist are hired-
Data scientists and analysts are largely employed by IT companies, marketing, finance and retail sectors.
Companies use Data Scientists to give them a report on what their clients demands and needs and give them innovative solutions on how to cater to them. Oil, gas and telecommunication companies also have started employing data scientists to better cater to their clients.
Other sectors and departments that employ data scientists are
● NHS
● Government offices
● Research institutions and universities
The roles and responsibilities of a data scientist
Data Scientists interpret large amounts of data by using their highly technical and advanced skills.
Data Scientists need to understand their client's problem and find solutions which are beneficial to the client and cater to the customer.
Data Scientist roles and responsibilities include:
● To handle vast amounts of data and choose reliable sources.
● Developing prediction models and advanced machine learning algorithms
● Verifying data using data investigation and data analysis.
● Using data visualization techniques to present findings.
● Finding solutions to business problems by working with data engineers and data analysts.
Skills and qualifications required to be a Data Scientist
Here is a list of educational qualifications that a data scientist should have
Educational qualifications:
● Should have a BSc/BA degree in the field of Computer Science/ Software Engineering/Information Science/Mathematics.
● Should have a postgraduate degree/diploma certification in Data Science/Machine Learning.
Additional requirements:
● Experience at a reputable organization as a Data analyst or a Data Scientist.
● Good amount of experience in data collection and data visualization.
● Have knowledge of using SQL, Python, R, Java, C++, and Scala.
● Have strong knowledge of Tableau and large data frameworks like Spark, Hadoop and Cassandra.
● Should have a problem-solving and fast thinking mind.
Working hours of a Data Scientist
Working hours of a Data Scientist depend on the company he or she is working for. It's normally a 9-hour job, 5 days a week. Top priority and important projects may require the Data Scientist to work extra hours and put in extra work. Some companies allow their Data Scientists to work from home as well.
How much does a Data Scientist earn?
The work experience determines the salary of a data scientist. For beginners, the salary ranges between 5-8 lakhs per year. While for experts, it can go up to 15 lakhs per annum and beyond. Apart from CTC, data scientists also enjoy various other benefits, including pension schemes, performance and retention bonuses, medical and life insurance, etc. Data Scientists are in a very high demand so finding a good job with high salaries won't be a problem.
Career growth of a Data Scientist
How quickly a Data Scientist learns and grasps the required skill set to collect, compile, analyze and interpret large amounts of data determines his or her career growth. The life of a Data Scientist starts from an associate data analyst and can go up to the role of Chief Data Scientist.
Promotion can take two to five years and can depend on the Data Scientists performance.
After five years a Data Scientist can get senior level positions.
Data Scientists also often launch their own startups after gaining work experience.
Conclusion
Data Scientists are one of the most in demand people in the world. They can skyrocket companies' shares and make them reach new heights. Their main task is to identify their client's problem and create solutions beneficial for both client and the customer. Data Science is a very high paying industry thus finding a job with a seven-figure salary won't be a problem. Data Science as an industry has a very bright future and there won't be any problem in finding any jobs. Data Scientists have the ability to change the world's future.
