We are in the The Age of Data. From cloud storage to website landing pages and user advertising profiles, we have moved from the Computing Age into an atmosphere where Big Data reigns supreme. And there’s a lot of it: in fact, two-thirds of businesses surveyed by TRUE Global Intelligence in 2020 expected their data to quintuple by 2025. They also consider data a fundamental part of their innovation, cybersecurity, and overall success.
But many aren’t prepared for it. The same survey found that 66% of IT and business managers stated that over half of their organisation’s data is “dark” (meaning it isn’t being utilised or there isn’t access). 57% reported that the volume of data is growing faster than their organisation’s ability to keep up, and 47% admit that their organisation will fall behind when faced with rapid data volume growth.
That’s where data scientists enter the picture. As data continues to grow exponentially, the need for professionals to organise, understand, and analyse this data will grow with it.
Here’s what you need to known on how to get in on this explosive sector growth and become a data scientist.
Data Scientists are Researchers
Essentially, the role of a data scientist is to gather and analyse sets of digital data with the goal of reaching a conclusion or outcome. They identify patterns in data sets, evaluate the meaning behind said patterns, and then develop models to predict and utilise or prevent them.
What sets data science apart from fields such as statistics is the fundamental role of technology; due to the massive amounts of data, the vast majority of a data scientist’s duties consists of working with code, algorithms, and artificial intelligence to sort and interpret the data.
Once they have sufficiently extracted and analysed the data based on their objectives, data scientists communicate their results and recommendations to other senior staff members.
Data Science Jobs are In Demand
Data science is one of the fastest-growing careers of the 21st century. Regardless of industry, businesses, non-profit, and government entities across all sectors are finding themselves flooded with Big Data that needs to be sorted, understood, and interpreted.
Business Insider places data scientists third on their list of top jobs which will see growth in 2022, as does Glassdoor’s renowned annual “Best Jobs” ranking. LinkedIn reports that from 2019 to 2020 alone, hiring for data scientist roles grew 46%.
It’s also lucrative — on average, data scientists can be paid up to €125,000 annually in Europe. As data continues to increase and more businesses decide to use their data effectively, this field is only expected to continue its growth trajectory.
Read our alumni testimonials and see how studying data helped them advance in their career