A data scientist’s work has only improved, according to Austin, Texas-based economist Andrew Flowers of Indeed.” Employers are seeking data scientists more than ever.
A data scientist’s position is in high demand due to the explosion of data (also known as “big data“) and the sectors it correlates with. Businesses want experts who can handle the massive volumes of data generated daily and treat, analyze, and arrange it to deliver insightful business information for wise decisions. Data science has emerged as the most exciting new study area in recent years.
Data scientists are becoming more and more needed, and this requirement will probably never stop. IBM projects that between 200,000 and 600,000 more positions will become available in 2025. This demand will only increase, reaching an astounding 700,000 positions.
According to Glassdoor, the most sought-after job is that of data scientist. This will not change shortly. The proliferation of data and its diverse forms is driving an exponential surge in the need for data scientists. Data scientists and their work will be in high demand going forward. Work in data science can take many forms, including data scientists, data engineers, and significant data architects. Additionally, the retail, insurance, banking, and telecommunications sectors are starting to dominate the data scientist hiring market.
A January poll from Indeed, one of the top job sites, indicates that demand for data scientists has increased significantly, rising by 344% since 2013 and by 29% year over year. According to the website, data science is a “high-demand skill,” Even if job listings reflecting this need are increasing dramatically, job searchers with data science abilities are searching at a slower rate (14%). This implies that the relationship between supply and demand is not balanced.
The availability of data nowadays can benefit enterprises in several ways.
Businesses in India are prepared to pay extra for data scientists. Companies spend a lot of money to people who are qualified to work as scientists, engineers, data analysts, and other professions. India is the second-highest hiring nation in the world for jobs related to data science, analytics, etc., with 50,000 openings — only surpassed by the US.