Data science is the new english.

Monika Rakheja.

Published in

Zorba Consulting

5 min readDec 10, 2020

DATA SCIENCE IS THE NEW ENGLISH, YOU MUST KNOW IT!

Do you think you can make an impact on the global workforce without knowing English?

Well! Data science is the new English and a necessary prerequisite of the 21st century.

It is one of the sexiest jobs in today’s scenario because of the vast data that is generated and needs to be interpreted in this internet age. Nearly 90% of the data has been generated in the last two years only. According to the Harvard Business Review, only 1% of this data is analyzed and used at all.

Glassdoor ranks Data Scientists as the topmost sought jobs of 2020 and Data science has indeed become the hottest profession of the century.

So, why do you think ‘Data science is the new English’?

The vast amount of untapped data-

According to DOMO, over 2.5 quintillion bytes of data are generated every day and 1.7 MB of data will be generated every second for every person by 2020.

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The companies need technical experts to structure and analyze this data using machine learning and artificial intelligence tools to produce reliable predictions and insights which help them in achieving higher efficiency in this competitive industry.

2. Growing global demand-

Almost all the industries such as Agriculture, Healthcare, Technology, Aviation, Government, Cybersecurity, Automobile, and several others are adopting data-driven strategies in their businesses in order to develop better results.
One-fifth of the most popular skills present in the job market are related to data science and business analytics.
Data scientists are not just restrained to the technology sector but have penetrated the Marketing, sales, supply chain, and finance and are in demand in these sectors as well.

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Therefore, huge requirements for Data Scientists, Data Analysts, Business Analysts, Data Managers are anticipated in the coming decades.

3. Shortage of skilled professionals-

It is estimated that there will be nearly 11.5 Mn job openings by 2026 in this sector with sky-rocketing salaries.
Nearly 2,00,000 Data Analytics and Data Science graduates will add to the workforce in a span of one and a half years and even if 5,00,000 students are added from fields of computer science, statistics, etc supply will still fall short of demand.
In India alone, we have a shortage of skilled data science professionals and nearly 97000 jobs are vacant.
Indeed, reported a 16% discrepancy between data science job postings and job searches implying demand still outstrips supply.

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4. Sky-Rocketing salaries-

The United Kingdom-

According to payscale.com the average salary for Data Science professionals in The United kingdom is £34,162.

2. The United States-

The average salary of a data scientist in the US is $100,560, as quoted by the US Bureau of Labor Studies.

3. India -

Glassdoor quotes, the national average salary of a Data Scientist in India as Rs10,00,000.

Since the demand for skilled Data scientists is still short of supply, The bargaining power rests with the job seekers who can demand elevated salaries.

5. Transformation of industries into Data-driven industries due to fast digital disruptions-

The 20th century witnessed a rise in a number of E-Commerce platforms such as Amazon, Flipkart, eBay, and many more.
Upcoming of several entertainment platforms such as Netflix, Amazon, Hot star.
There was a significant rise in social media platforms such as Facebook, Instagram.

These industries require data scientists to evaluate numerous information concerning the purchasing habits of customers, reviews, pictures, etc and analyze this information to find trends, predict customer behavior, etc. Data scientists are the lead stars in all these platforms.

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6. Plethora of roles played by Data science professionals-

Designations such as Data Architects, BI Engineers, Data Engineers, Data Analysts, Database Administrators, Machine learning Engineers, etc.

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Since there are a number of career choices in this industry, a large number of Data science personnel are required which is adding to the demand for skilled Data scientists.

Conclusion-

Data is the new oil and every industry these days be it banking, manufacturing, e-commerce, Education, finance, Transport, entertainment, etc needs to make data-driven decisions and rely heavily on data science applications in order to gain an upper edge over the competitors in the market.

Data science applications facilitate banks in detecting frauds. It helps the e-commerce industry in better understanding its customers which allows them to reduce costs and make strategic decisions.

Data science is playing an important role in the working of app-based cabs making a tremendous contribution to the transport industry.

Good advertising is very important for the success of businesses, Data science analysis helps marketers and advertisers, in targeted advertising based on analyzing several traits of the customer such as age, interests, education, income, lifestyle, status, personality, etc.

The entertainment industry relies heavily on recommendations based on data science algorithms.

Data optimizes processes leading to better decisions. Since it is is crucial for all the businesses today it can be rightly concluded that ‘Data Science is the new English you must know’. With the upcoming fields that are intensely Data-driven, data science is the most sought profession today and tomorrow.

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