Data has become as important to businesses as oil as a strategic resource that helps them move forward. More and more industries, like healthcare, banking, and pharmaceuticals, are realising how important it is to make decisions based on facts. Data science and related jobs are multiplying in India because the country wants to find new ways to use its massive data. This blog is about understanding the data scientist job market share in India and the future scope of data science.
The world we live in now creates a lot of data, which is essential for the growth of businesses. There is a lot of unstructured data in the cloud that needs to be looked at and made ready for companies to use. Data-driven technologies have changed our personal and professional lives since the turn of the century.
Data science aims to find new and valuable insights into data that were not known before. It has always been an essential part of businesses of all sizes. Data scientists will always have work because analysing data is a job no one can do. The scope of data science will keep expanding over time.
To begin, let’s define Data Science
Information science, also called “data science,” is a multidisciplinary field that looks at big data sets to draw conclusions and gain new insights. It combines maths, statistics, computer programming, data analysis, and machine learning.
The data science workflow collects, organises, analyses, and reports the right data and insights to help businesses make better decisions and plan their strategies.
Data Science Lifecycle
When it comes to data science, the process is linear, and the stages of the data science lifecycle are as follows:
- Data Ingestion: There’s more to collecting data than just getting raw signals (both unstructured and structured).
- Processing and Classifying Data: The process of sorting and editing unstructured information to get rid of ambiguities and put it in a format that can be used.
- Data Modeling: Using data modelling, classification/clustering, mining, and wrangling to build a training model. Statistic and simulation methods are used to come to conclusions.
- Model Deployment: Using regression modelling, analysis, and other forms of cutting-edge analytics to make predictions and conclusions. If you want to understand data better, you should build models.
Sharing and Explaining Data: Reporting, writing, and presentations about data analytics can be done in a technical or lay format. These new ideas help people make better decisions and get more business intelligence.
Is data science an excellent way to make a living?
Data scientists are in high demand because data is becoming more valuable and because data science technology is changing quickly. Data scientists look at information for businesses, governments, and other organisations to help them make better decisions. Data science scope and salary are continuously on the rise.
As data becomes more critical to businesses, the work of a data analyst will likely become more important. More skilled data scientists would be needed to make sense of the growing amount, variety, and ease of access to data made possible by big data analytics techniques. This expands the field of data science for years to come and makes it a very lucrative job.
In India, if you want to have a successful career in data science, you need to know how to use the right technologies and tools. You also need to be able to look at data, make data models, and build solutions for data analytics. You should also be good at communicating your ideas and solving problems, and you should want to find patterns in data.
Ultimately, a career in data science is a good choice if you want to make a difference by making data-based decisions. As the data industry continues to grow, data science jobs are becoming more appealing. People who work in data science also often get good pay and new opportunities that are fun and interesting.
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Opportunities for data scientists to work in India
In recent years, the high salaries that come with being a data scientist have made the job more and more appealing. India needs more data scientists because data is becoming more critical and needs to be improved quickly.
We’ll look at a few of these factors below:
The Covid-19 pandemic
Covid-19 quickly spread across India, forcing many activities that used to be done offline to move online. Given how much data these digital processes create, it’s not surprising that the need for data scientists in India has grown over the past few years.
The amount of data that needs to be analysed has grown with e-commerce and online transactions, and the number of students who do their schoolwork online has increased in recent years. India’s potential for data science has grown as a direct result of this boost.
Low entry barrier
Since this field is still young, professionals have less to worry about than many others. The area of data science is big enough to include experts from many different fields, such as maths, statistics, computer programming, engineering, and the natural sciences, but not just those. You could become a professional data scientist by learning how to program and solve problems on the job.
Let’s agree that most of us want a good job and income. Nowadays, data science careers pay some of the best wages in the economy. Even when they are just starting, data scientists can expect to make between $600,000 and $700,000. This is an excellent way to get more business people interested in data science.
How to get a job in India in data science
Before we talk about how to get a job as a data scientist in India, let’s talk about what skills you need to have. Some of the essential skills in data science are:
- Able to work in Python, SAS and R
- Capable in the areas of statistics and maths
- Correct knowledge of several techniques, such as regression models and regression analysis
- Ability to get ideas across well
- Able to do well in business
- Excel knowledge and skill
Even recent graduates can get reasonable job offers if they have a solid portfolio for their work in today’s competitive job market. It is a must to have a well-written CV that lists relevant experience and education.
Here are some tips on quickly putting together a CV for a job as a data scientist.
Tips on how to write a resume for a data scientist
- It would help if you made a CV that makes you stand out from the other applicants. Knowledge is helpful, but having a degree in the same field is even better.
- Even if it’s unpaid, you should get a data science internship as a first-year student or just start in the field. Training is an excellent way to get real-world experience in an area of study.
- You can also give the required GitHub link through LinkedIn. You can also get a feel for the business by entering different online contests. Your combined efforts will show how well you know and understand the technology, which potential employers may notice.
- Attending one of the many data science meetings that happen regularly in big cities like New Delhi, Pune, Bangalore, Chennai, and others, could be good for your career. Having a lot of contacts in the same field is helpful when looking for a job.
How to Get a Job as a Data Scientist
You’ll stand out from the crowd if you know how to use computers well. Algebra and calculus are functional skills because machine learning and deep learning use them. A good understanding of statistics and probability makes it easier to look at data and make sense of it by analysing and visualising it.
Get the basics
To fully understand data science, you must know how to build and use machine learning models. Some organisations offer practical training for free.
Learn how to code
Check out the field
Participating in online contests and guided hackathons is the best way for a person interested in data science to learn how to turn raw data into insights that can be used. Top data science companies put a lot of value on how well students can publish tasks on GitHub with the help of a mentor.
How much does a data scientist in India usually get paid
Here are some of India’s most well-known companies and the average starting salaries they offer:
- The average wage at TCS is 652 075 INR per year.
- An annual salary of INR873,057 at Mahindra
- The annual wage at IBM is INR1,067,758.
- Infosys pays INR837,251 per year.
- The yearly salary at Capgemini India Pvt. Ltd. costs 950,000 INR.
The future scope of data science and machine learning is bright and attractive. One can use professional certification sources to advance their career and become a good data scientist.