What will be the job growth for Data Science for the next 5–10 years?
These days, everyone everywhere is talking about Data Science. We mean every business, every economy, every institution in almost every geography is what we mean by “everyone.” It has led to the evolution of the data scientist, data analytics, and whatnot.
The wave that has caught the world by a rave storm is Data Science, and this is taking the technological revolution to greater heights. So, how data science contributes to job growth in the next 5–10 years?
The data science engineer becoming redundant is the fear that is quite common. However, others are of the notion that it would fizz out.
Data Science is here to make a base for the better and for a very long time to come as experts who are aware of the momentum of this field of science have been caught in saying this.
Growth of Data
How data is available to man in recent times is growing exponentially and can be measured in zettabytes is something that is unknown to anyone.
One zettabyte equals a trillion gigabytes, and one zettabyte is equal to the twenty-first power of ten bytes or one sextillion bytes.
The enormity of the data that is available to us is something we know of. Humans are producing about 2.5 quintillion bytes of data through emails, posts, tweets, videos on the Internet traffic each day.
The other aspect of it is the way we are going to store this data and the aspect of data deluge, and how we should be using this data effectively.
Data Science has come into the picture for analyzing these extremely large sets of data which is Big Data, to deal with the other aspect when you are selecting the data science career path.
Data Science — Where does it stand today?
The uncertainty of the future is one of the most puzzling things for mankind. It will be something that is quite magical if they are not able to find a tool that will lend a peek into the future. This is what data science does.
It is the reason why everyone would love to invest in reading the future by studying every trend.
Big data is used by data science. The data is fed into the models and algorithms for spelling out the possibilities and patterns in this future.
The growing number of devices under IoT and Social Media are the two primary contributors to this Data Explosion.
Every business is now using Data Science who wishes to use this data for building the models that will be helping them in terms of growing their businesses by understanding the trends, buyer’s choice, and the emerging patterns. It is what the companies are doing now showing the vital role that data science plays in the following niche:
Creating Data Science Units: Companies have even created a unit where they are hiring Data Science professionals to work on analytics even if they are not directly linked with this field.
Standardize the processes: Better data science systems are created in this process of standardization to help create better models due to the good data that are somewhat cleansed and structured already.
Data Science-related skill sets: There is an increase in hiring employees with analytical skills in every process and role. For instance, even in the Human Resource roles, there are companies who would wish to hire the applicants who have been exposed previously to these analytical tools allowing them to slice and dice data and draw meaningful conclusions through these analyses.
The Future of Data Science
By 2025, the market size of the platform of Data Science is expected to reach about 178 billion USD. They remain updated equipped with the latest developments in the field as this is just the platform of data science offering open source software and computing resources. This has opened the path for data science job opportunities.
Businesses are now prepared to invest any amount they can in processing the unstructured and structured data and seeing how they can meaningfully place data to their use as the main reason behind pushing this massive rise.
Companies now wish to use the efficient means for sorting the available data and checking out the way they can create the predictions models for studying consumer trends, growth in demand, competitor analysis, and a possible slump in order to increase revenue, enhance customer base, and more.
Experts are predicting that you can now be a data scientist to transform today, although several fear that the Data Science jobs will be lost in the future due to automation.
Since there are new technologies that are constantly evolving in this field, their skill needs have also changed. More specialized skills are emerging today. In the next 5–10 years, a similar thing will be happening for Data Scientists.
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