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Do you want to become a data scientist?
Here's what you should know

Home >  Blog >  Career >  Do you want to become a data scientist?
Here's what you should know

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 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

Data Scientists Have a Lot of Access… and Responsibility 

Government regulatory agencies are catching up to speed with the largely unchecked digital data collection occurring for the last twenty years. The General Data Protection Regulation Act (GDPR), put into effect in May 2018, was a sweeping set of regulations designed to protect private users’ data. Individual countries within Europe and around the world have begun implementing their own data protection laws. 

Data scientists face the challenge of making their data appropriately protected and accessible both internally for use and externally when legally necessary. With constantly changing rules and regulations to address developing technology, data scientists must learn to navigate and accommodate these changes while maintaining the integrity and efficacy of their data analyses. 

 

You Will Need a Degree to Become a Data Scientist

Between coding languages, unique algorithms, and even the application of AI, data science is an advanced field. Although not technically required, the vast majority of employers look for verified education and experience before hiring data scientists. 

In fact, over 79% of data scientists that list their education have earned at least a graduate degree, and 38% have earned a PhD. 

Undergraduate degrees can range from Computer Science and Engineering to Statistical Analysis, if not specifically Data Science. Post-graduate degrees should almost always be specific to the field. Many data scientists start off in lower positions as data engineers or analysts, in order to gain experience in the field and create connections. 

EDHEC offers an Online Master of Science in Data Management & Business Analytics for those seeking to enter the data science field. You will become proficient in artificial intelligence techniques and gain the managerial decision-making skills needed to take an active role in your company’s sustainable transformation projects.

 

Working in Data Science is Challenging, Yet Rewarding 

Despite its challenges, working as a data scientist can be a very rewarding job. You will be able to interact and engage with data spanning a vast array of different topics, such as new products, marketing strategies, advanced business solutions, and cyber security. Constantly developing technology creates a fast-paced environment in which you must constantly be willing to adapt to new strategies and techniques. 

If you’re looking to be at the forefront of technology and information research, then you’re ready to become a data scientist!