Tuesday 28 May 2024

Perks of a career in Data science

data scientist

It is extremely important today for any organization to untap the huge potential of data as large stores of data have emerged as a critical resource in a digital ecosystem. Analysing data can lead to useful information which in turn can be instrumental in the growth of any organization. But given the variety, speed and the volume of data which is being generated everyday at any given space, it is extremely hard to harness data. However, Data science is the key to untapping the potential of data and a skilled data scientist can efficiently unlock any secret that a particular data set holds and in no time too!

As a result, most business institutions are setting up Data science departments and hiring talented individuals to quickly implement a data-driven strategy and the field of data science is ripe with lucrative opportunities today.

Here are some quick points on current market trends-

  • Market Research Future predicts that the global data analytics market will reach 77.64billion USD by 2023 with a CAGR of 30.8%
  • According to a survey conducted by New Vantage Partners, the number of companies spending over 50 million USD has increased by 15% over 2018 and 92% respondents to the survey are increasing their pace of investment in data science.
  • IDC predicts that the global revenue for Big data and business analytics solutions will reach $189.1 billion in 2019!

As a consequence, the demand for data scientists is huge now and this is one of the biggest perks of choosing a career in data science.

What other advantages do data science offer?

  • A future-proof career
    While traditional jobs will increasingly disappear over the next few years owing to an increased emphasis on automation, a data scientist will never be required to worry about such problems.
  • A flexible career path!
    Data science has found application in almost every industrial sector, government organizations and even non-profit organizations. Thus, in data science you have the luxury to opt for a field of your choice.
  • A well-paying job!
    According to Glassdoor the global average pay of a data scientist is $113,436. According to PayScale, a data scientist earns RM 25.49 (= 6 USD) every hour!

However, to be a successful data scientist you must learn all the tricks of the trade and thus, you must enroll in a good data science course.

But where should you begin your career?

Malaysia can be a great location for beginning your journey in Data science!

Malaysia is one such country which has developed its digital economy magnificently over the years with the help of digitally driven technologies. The Malaysian Digital Economy Corporation which was established for the sole purpose of developing the digital economy reports that the country has prioritized digitalization since long and intends to provide the best possible environment for data-driven and digitally empowered firms. As a result, the country is a top destination for most tech giants and many successful start-ups. Hence a data science course in Malaysia can yield great results for you.