Are you thinking about your next career move or choice?
In this edition of Career Showcase, we shine the spotlight on Data Science. Have you ever heard the phrase: “Data is the new oil” and wondered why it was said to be so? It is with good reason—the world has entered the era of big data.
A quick background on this subject is necessary: data, in previous decades, used to be structured and stored but has now grown at an exponential rate from various sources such as multimedia forms, financial logs, sensors, text files, and instruments. This staggering growth in data led to a need for its storage. This, itself, was a challenge and concern till frameworks like Hadoop and others were developed. The focus then shifted to processing data to make meaning of it and this is where Data Science comes in to save the day.
In this article, you will find out answers to the following:
- What is Data Science?
- What roles are available in Data Science?
- Why should Data Science not be overlooked?
- How do I become a Data Scientist?
- What are the Demands for and Opportunities in Data Science?
1. What is Data Science?
According to Wikipedia, Data Science is an interdisciplinary field that uses scientific methods, processes, algorithms, and systems to extract knowledge and insights from structured and unstructured data. Over the past decade, data has become more complex and thus has the need for even more complex analytical tools and algorithms for processing, analyzing, interpreting and extracting meaningful insights
2. What roles are available in Data Science?
There are several branches under Data science hence, the roles are dependent on skillset, use of programs and knowledge of tools. The roles include Data Analyst, Data Engineer, Business Analyst, Data Architect, Statistician and so on. Details about different roles in Data Science can be found here.
3. Why should Data Science not be Overlooked?
Every organization that intends to thrive in this modern age takes data seriously. Understanding data helps teams make the right decisions by drawing on insights gained from processed data. Data defines how businesses should run their businesses now and in the future.
Data science is applicable to diverse fields and industries, for example:
- Healthcare: to predict diseases,
- Travel industry: Predicting flight delays,
- Marketing: Targeting customers, Upselling,
- Automation: Self-driving cars, drones, and
- Sales: Forecasting demand of goods and services.
4. How to Become a Data Scientist?
Data Science is available in academic programs awarded in degrees. Also, various platforms offer short term certifications in Data Science and related fields. However, as a data scientist, the following skills are of great importance: Data Literacy Skills—how data is read and interpreted, Analytical Skills, Proficiency in using Programming Languages, Mathematics & Statistics, and Presentation & Communication. The good thing is that all these skills can be learned.
5. The Demand and Opportunities in Data Science
The demand for data scientists has been on the increase and doesn’t seem to be going otherwise anytime soon. According to IBM, by 2020, the number of jobs for all US data professionals will increase by 364,000 openings to 2,720,000.
There are vast opportunities across several fields and industries. 59% of all Data Science and Analytics (DSA) job demand is in Finance and Insurance, Professional Service, and IT. Likewise, in industries such as marketing, retail, healthcare, telecommunications, agriculture, educational activity, and public sector lie opportunities for data scientists.
Average Salaries as Found on Online Platforms
- The average Data Scientist attracts a salary of ₦5,000,000 per year, according to Glassdoor.
- Mysalaryexplorer says a person working as a Data Analyst in Nigeria typically earns around ₦190,000 NGN per month. Salaries range from ₦101,000 to ₦288,000.
- Payscale: The average salary for a Data Scientist in Nigeria is ₦606,000.
Today, why not think of the upsides of Data Science—as a career—which includes solving problems, creating sustainable models and enjoying a lucrative career? Choosing a career in Data Science is worth your consideration as the demand for roles in the field is on the increase with opportunities in various industries. Go for it if you know it is for you.
We value you, we value your contributions, too.
What other questions and thoughts do you want to share with us? We gratefully expect you to drop them in the comment section.