Data science has evolved over the decades to make difficult data seem easy and comprehensible for businesses, big and small. Risk management, stock trading, fraud detection, logistics and supply chain management, targeted advertising, image, and speech recognition, these are a few areas where data science has proved to be pivotal in aggregating the data and sifting the results immaculately. Data science career has come out as the hot-selling professional trajectory any technical professional would want to take on.
1962 was the year when renowned American Mathematician John Wilder Tuket coined the term ‘Data Analysis’ for the first time, that was changed into ‘Data Science’ in 1997 by Chinese statistician C F Jeff Wu. Data science, as we understand today, is an interdisciplinary field that involves statistics, mathematics, computer, and information sciences.
GROWTH OF DATA
The amount of data growing each year is going faster than ever before. From 2020 to 2025, IDC forecasts new data creation to grow at a compound annual growth rate (CAGR) of 23% resulting in approximately 175ZB of data creation by 2025.
DATA SCIENCE- CURRENT SCENARIO
Looking at the future trends, data scientists are curating systems that can talk, foresee, envision, and give real outcomes. Real-time data analysis game looks stronger, going ahead. Over the years, the explosion of data that has been experienced, is a result of growing number of devices under Internet of Things and social media expanse. Business decision trends are directly related to the data science results, that help in building appropriate business models for understanding consumer choices, business trends and formulating growth patterns ahead. Businesses have realized one thing for sure that without the expertise of certified data science professionals, who help in churning out technology into actionable insights, big data is of no use. Unlocking the power of data scientists and the enormous value addition they make in the businesses; they’ve realized the importance of the skillset they bring to the table. The role data science plays for businesses involves:
- Creating data science units within the organizations
- Standardizing the processes
- Building data science related skillsets
- Hike in digital interaction with consumers
FUTURE OF DATA SCIENCE
The year 2022 has showcased that data feeds data science and good analytics need good data. The market size of data science platforms is expected to reach USD 178 billion by 2025. Companies want to use efficient means to sort the available data and increase revenue and push market boundaries. Looking at the trajectory of a computer science engineer from a 15-year gap, boom in cloud migration, growth in predictive analytics, cloud-native solutions becoming a must-have; thanks to wide adoption of digital transformation, their role looks completely different in today’s times. This advance in the required skillset demands more specialized skills and the data scientists in the coming years.
DATA SCIENCE CAREER IN 2025
Data science future looks promising, yet there are some opposing views that are concerned about the unemployment rate going up for the role of a data scientist. According to research conducted by KDnuggets back in 2015, 28% of the voters stated that the role will disappear in 5-10 years, while 19% completely declined the whole idea of extinction of data scientists. These participants were from different geographies across continents.
Does that really bother you 7 years later, and do you think it applies in today’s scenario? Unlike the forecast results, the jobs in the field have trebled in the past three years, negating the entire theory of data scientists rendered unemployed by this time.
Making the big switch to data science career is considered a promising choice for 2022 and ahead. As the dependence of companies grew on data science professionals to enhance their business possibilities, more professionals will be needed in the field as it is difficult to reach satiety by automating.
The US Bureau of Labor Statistics has stated that the jobs requiring data science proficiency will rise by 27.9% by 2026. Adding to that, Glassdoor has announced Data scientist as the number one job in the US for four consecutive years. Listed below are the roles Data science skills are applied to and are going to boom in 2025 job market:
- Data scientist
- Data analyst
- Machine learning specialist
- Business Intelligence developer
- Data engineer
- Data architect
- Infrastructure architect
DATA SCIENCE INFLUENCING STUDENTS’ FUTURE CAREER CHOICES
Having discussed the former research studies about the future of data science and the different roles it has got to offer, students are served with a data science menu that’s promising for the long run. Earning a credible data science certification from industry players like USDSI, IBM, amid others, can easily qualify an aspirant for a meaty role in the world of data science. Technical students often find themselves in a dilemma where it concerns them taking the regular engineering course or delving into new waters like data sciences. Without a doubt, data science is a career option that one could leverage their trust in as its proposed demand is going to sky-rocket in future. It is a great idea to use this opportunity to your advantage and build a lucrative data science career.