Reasons to Become a Data Scientist in 2022
Data science is proliferating in the business world and is referred to as "the sexiest job of the 21st Century" by Harvard Business Review
Data science is proliferating in the business world and is referred to as "the sexiest job of the 21st Century" by Harvard Business Review. In fact, Data scientists have been named the "number one job in America" for four out of the last five years, and they are still in third place today, according to Glassdoor.
A data scientist is a person who is well-versed in mathematics, statistics, and programming and who uses these skills to derive valuable insights from large datasets.
A data scientist can perform various tasks, including extracting data from a database, prepping the data for multiple analyses, designing and testing a statistical model, and providing reports containing clearly understood data visualizations.
Have a Huge Impact on Your Company and Business
The impact you can have as a leader in the field, both within your firm and on the rest of the world, may be one of the most compelling (at least globally) reasons to pursue a career in data science.
You can try to automate laborious operations within your firm, saving the business time and perhaps thousands or even millions of dollars they could otherwise allocate to other projects. First, we'll go through how businesses in contemporary industries are well aware of the immense value that their data scientists offer and how heavily they rely on them. Data scientists are thus well-positioned to serve as enterprises' go-to strategists, whether they work for a tiny start-up or a global powerhouse like Amazon, Apple, or Uber. All of them are constantly looking for qualified data scientists.
For much of the last decade, data science has been one of the most in-demand professions and showed no signs of slowing down at all. In fact, the U.S. Bureau of Labor Statistics predicts that through 2026, employment in the field of data science will increase by 27.9 percent. Yet, in 2018, LinkedIn estimated a shortage of nearly 151,000 data scientists nationwide, with the New York City, San Francisco, and Los Angeles metro areas suffering the most.
So what is it about data science that makes it such a sought-after career? Consider the most powerful and influential businesses on the planet. You probably immediately thought of business giants like Amazon, Google, Apple, or Facebook, which depend heavily on making decisions based on data.
Base Salaries That Are Hard to Beat (Plus Perks!):
Being in such a new and in-demand industry as data science, where there are so few competent individuals, will inevitably result in a very competitive compensation base and growth window. Unfortunately, the science of data is not an exception. As of April 2021, the average base pay for a data scientist was $114,673, according to Glassdoor. This is one of the highest average base wages in any industry and more significant than the average base salaries for employment in professions like software engineering ($103,349), and data analysts ($66,842).
An Ever-Evolving Field:
The Economist claims that data has replaced oil as the most valuable resource on earth. This could very well be the top motivation for pursuing a data science job or education. The reason it's at number four on this list is that compared to what we described above regarding data science's slow trickle into the public school curriculum as a stable subject and career industry option (i.e., required "economics" classes that establish a general understanding and ignite professional passions and interests of future economists), this fact is relatively unknown to future or emerging students and experts. The presence of data science in traditional education has not yet kept pace with predictions for its contribution to our position in our society, including the number of vocations for graduates.
Diverse Career Growth Options:
We believe we've shown why a career as a data scientist is highly gratifying, but ultimately you may feel the need to move on to a different position. However, you'll be well-positioned to excel in one of the broadest ranges of subsequent jobs in any industry with a foundation in data science. If you choose to continue only in the data science field, you may always rise to senior or lead data scientist positions in management, which can pay you tens of thousands of dollars more while giving you more authority and the chance to direct your work organization is doing. However, you might also decide to specialize in a field like data engineering or machine learning engineering and take a targeted approach to job advancement.
In the end, the decision is yours since after working in the data science sector for five to six years and having results to show for it. After all, the data science field is here to stay. This is the right time to make your career in this exciting field.
Wondering where to jumpstart your career? Learnbay can be the best place for you. It offers the most comprehensive data science course in Bangalore in collaboration with IBM.