“Data is the new gold mine!” The statement carries great significance when it comes to today’s business world. Today’s business environment is largely operated based on data-driven decisions. It may surprise you to learn that about 2.5 quintillion bytes of data are generated every day. That is certainly a huge amount, isn’t it? Now just think what would happen if due to system malfunction or any other issue all these data would be lost. It would be a huge disaster for the companies and it would cost them dearly. This is the key reason why there is a substantial demand for data scientists in the job market. In fact, the job profile of a ‘data scientist’ is already declared as the most sought after profession in the 21st century. Therefore, the time is right for him to grow and build a career that he will be proud of.

Wide acceptance of data science

With the implementation of Big Data in almost all spheres of our lives and in the near future, there would be no business organization that can afford to ignore the importance of data science. If they do, there is a good chance that they will lose out to their competition. Smaller companies with adequate data management skills will triumph over larger corporations with limited data knowledge and experience. Even startups don’t miss any opportunity to make data-driven decisions. The business world has understood very well the relevance of data science in the modern scenario. If this huge data set can be examined and calculated using a scientific approach, it can help organizations draw meaningful insights, which directly means better business decisions, more profit, and higher ROI.

More data, more jobs, more salary

Whether it is start-ups or giant corporations, there is no business in the modern age that does not rely on data and analytics to make business decisions. According to reports published by the McKinsey Global Institute, around 40 zettabytes of data would cover the Internet by the year 2020. This will facilitate a sharp increase in demand for Big Data and Data Science professionals. With more time, the popularity of Big Data will reach a new level as more companies begin to embrace this lucrative opportunity for business growth. With the high demand for qualified professionals and the lower supply of them, according to economic principles, the salary structure would be quite attractive. It is a fact that data scientists are the ones who get the highest paying jobs compared to other engineers and people working in similar job profiles.

Also, when we talk about data, how can we miss the opportunity to show some data related to the profession of a data scientist? According to a report published by an online education portal, there has been a dramatic increase in the listing and application for jobs related to data science. There is a whopping 200% annual increase in the search for ‘Data Science’ jobs, while an annual increase of at least 50% has been observed in the list of such job requirements. Therefore, it is evident that data science is here not only to stay and survive, but also to thrive and rule.

Greater salary potential

Data analysis skills are in demand of the hour. Almost every industry is in dire need of skilled professionals who have the right knowledge to manage data correctly and get meaningful results that enable companies to take their operations to a whole new level. With that being said, it’s pretty clear that only trained professionals can get maximum exposure in this data-driven age and enjoy a higher salary structure.

According to a research report published by an international organization, the average annual salary for data scientists globally in 2015 was $130,000. Now, the demand has grown even more, and the salary structure has also increased to a greater extent. In India, the average salary structure for Data Science professionals is quite lucrative. An Analytics professional in India can earn up to INR 15 lakh per year in the first few years, which increases even more with experience. The most interesting factor is that data science is not only popular in India, but other foreign markets are also looking for highly skilled professionals. So if you have the relevant knowledge and talent and are ambitious enough to grow and succeed, Data Science offers you the perfect opportunity to make your dreams come true.

At TimesPro, we’ve partnered with industry experts like Google, Intel, Flipkart, and Fractal Analytics to create a comprehensive results-based professional learning program in data science, covering the basics of data science, machine learning, and artificial intelligence. At TimesPro, a premier data science institute in Bangalore, we promote a learning environment where students are not only aware of the basics of data science, but are also prepared to enter the industry with immense confidence and amplified potential. We believe that it is constant practice that makes an individual an expert in her job. That is why, on our campus, we make sure that our students have enough exposure to the industry and have a deep insight into the most entrenched challenges, as well as their solutions. The future world is about to become extremely dependent on how we use data. Therefore, our goal at TimesPro is to create industry-ready professionals who can take advantage of the growing opportunity and grow with the growth of the industry.