Over the course of last century, technology has transformed everything around us. It has been a superb catalyst behind extraordinary economic growth and opportunity as well as bringing path breaking changes for entire mankind. As the time has passed, the competition has also increased with due course of time. The complexities that global competition has unfolded have thrown up new challenges that put a big question mark on the very survival of many organizations.
As a result, organizations are evolving. Organizations today have more data than ever at their disposal & in order to be really competitive, they need to take advantage of their data to derive meaningful insights and convert knowledge into action. Companies are ready to do anything to have an edge over their respective competitors. Businesses run mostly on number games and deep-diving into data is a critical to the business. A movie like ‘Moneyball’ or a company like ‘Netflix’ has done a world of good to highlight the importance of data scientists to take business decisions.
A Data scientist can gain insights to predict about what a customer would buy next on an e-commerce website or what show he would like to watch next. Harvard Business Review has in fact named Data Scientist the “sexiest job of the 21st century”.
As per Forbes magazine, IBM, Cisco and Oracle had advertised about 30,000 open positions related to big data in last 12 months. According to McKinsey Global Institute research, by 2018 the United States will experience a shortage of 190,000 skilled data scientists, and 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.
Indian IT industry body Nasscom has set a target of making the country one among the top three data analytics markets in the next three years. The Big Data analytics sector in India is expected to witness an eight-fold growth by 2025 – from the current $2 billion to $16 billion, according to industry experts. According to NASSCOM, the job market will see a surge in the job openings for Analytics professionals from around 90,000 at present to around 3,00,000 in 2018.
A research paper published by one of leading staffing firms Teamlease Services states that India will face a demand-supply gap of 2,00,000 analytic data experts, thanks to companies’ increasing reliance on data analysis to make business decisions.
Industry is falling short of 0.2 million data experts and time is right to enter this futuristic sector. We keep on hearing that automation would lead to loss of jobs but here is a realistic chance to get a superb kick start for non-IT people. Data science is multi-disciplinary. Many companies are developing multiple teams of data science & they are in need of skilled talent pool with diverse experiences and backgrounds.
These so-called data analysts are not necessarily top notch economists or statisticians with some serious technical skills as many of us perceive; people with ITES or non-technical background can easily enter this field after a basic understanding of data science. A certification is an easy passage for non-tech professionals to enter the futuristic world of data science.