The role of a data scientist pops right at the top of the most sought after roles in 2021. It has maintained a high value position in the job market for almost a decade. Right now there are around 3 million professionals who are involved in data science related work even though only a small portion of that crowd bears the title - data scientist. We will discuss the burgeoning importance and demand for data science related job roles. Our discussion will include but not be limited to the role of data scientist.
Access to unstructured data
Performing big data analytics in 2012 was a hindrance. Storing data was expensive, you needed high performance servers, there was always some anxiety around hardware maintenance and replacement. And all of this was for just a miniscule portion of the data generated.
Following the development of technologies like natural language processing, computer vision, and deep learning, data science professionals can finally tap into the humongous reservoir of unstructured data consisting of images, texts, reviews, videos, sounds, and whatnot.
The ever expanding access into unstructured data has opened many new doors for companies. They can now gain better visibility into their customer base, understand their prospects better, market their products to the right audience, and save a tonne of money while doing all that.
Introduction of cloud
The cloud was initially being used for managing transactional data. It did not have that much of a use case for businesses trying to leverage data. However, public and hybrid clouds now allow businesses to migrate a lot of their workloads along with data analytics capabilities. This significantly reduces the pressure on premise servers and hardware. Companies can now focus on data analysis rather than sweating over storage capacity and maintenance costs.
The cloud has encouraged a lot of businesses to invest in data science. And it gives good reason to enthusiasts to join a data science course with the hope of securing a position in the industry.
Machine learning in action
There is often a
gap between technical requirements felt by the IT departments and the executive
decision to onboard new technology. Nevertheless, the idea of machine learning
powered automation and service augmentation has hit the bullseye in terms of
convincing the executives. Machine learning is a complex technology to master
and to execute, but it comes with a concept that is easy to follow. Machines
learn from data and improve themselves without human intervention. Business
people have loved the idea and suddenly machine learning engineers are in high
demand. This is a good time to read how to start
learning machine learning.
Regulations related to data usage
More companies than we realize have on-boarded data science resources to ensure compliance with data security and privacy regulations like GDPR and CCPA. Ensuring compliance is a massive use case for data governance in companies around the world. Data architects, data science professionals, and analysts are hired to create and secure the data pipelines and ensure compliance.
Well, these are some reasons behind the burgeoning demand for data science professionals. There are other important reasons like induction of data science in public healthcare and border security that I have kept for some other time.
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