Big data is here to stay. It’s not only growing in size (from megabytes to petabytes and zettabytes), but also in form (images, text, video, audio, etc.) and velocity (from periodic updates to real-time updates). The big data business is expected to be a 53.4 billion industry as early as the year 2016. But who will sift through the raw numbers to find these valuable insights everyone wants? That where the Data Scientists come into play.
Whether companies know what a data scientist is or not, they’re using the term frequently in their job postings. Let’s define the role and clear that up. The duty of a data scientist is to analyze large amounts of raw data to gain valuable insights, giving companies a competitive edge. This can be a tricky job, as most companies collect data in various forms from various sources, making it a challenge to combine and interpret data effectively and efficiently. A data scientist must have a combination of analytical and computing skills to be effective in the position. However, arguably, the most important skill is the ability to convey insights derived from data in a way that is easily digested by non-analysts. The job is a combination of analyst and story teller – interesting combination, don’t you think?
The demand for data scientists is growing rapidly. Between 2011 and 2012 alone there was a 15,000% increase in demand for data scientists. Companies are beginning to realize the competitive advantages of in-depth data analysis and are looking to hire!
This doesn’t seem to be just a short-term trend. According to an infographic from Business Intelligence and DOMO, between 2010 and 2020 data scientist is the second highest growing career path, projected to grow 18.7 percent. The only group better off are the gamers!
So if you’re looking for a new career path, this seems like a good one to consider!