What is Data Science?
Data science is an interdisciplinary field that involves using scientific methods, algorithms, and systems to extract knowledge and insights from structured and unstructured data. It encompasses various techniques and tools, including machine learning, statistics, data visualisation, and programming, to analyse and interpret data.
The goal of data science is to extract valuable insights from data that can be used to inform decision-making and solve real-world problems. It is used in various industries such as finance, healthcare, retail, and many more. Data scientists use data to help organisations make better decisions, optimise their operations, and improve their products and services.
Eric McGee, an American politician, said, “In the next two to three years, data will be the most important differentiator. Whoever can unlock the reams of data and strategically use it will win.” And India is making its move to win! And if you want to build a career in the field of data science, you should go for a course. A BCA programme with a specialisation in Data Science can help you learn the necessary skills and start your career.
[Also read: Benefits of BCA.]
Data Science Scope in India
The scope of data science in India is quite broad and encompasses a range of industries and sectors.
- According to a report from Indeed Hiring Lab, data scientist was the top job in India, based on the number of job openings and salary data.
- The average salary for a data scientist in India was ₹10,00,000 per year, according to Glassdoor.
- The demand for data scientists in India is expected to continue to grow in the coming years, with a projected increase of 28% in the number of data scientist jobs by 2024, according to a report from IBM.
- The top industries hiring data scientists in India include IT and services, finance, and healthcare, according to LinkedIn data.
- According to LinkedIn data, some of the top skills desired in data scientists in India include machine learning, Python, and data analysis.
Overall, the scope of data science in India is vast and continues to grow as more organisations recognise the value of data-driven decision-making. As a result, data scientists are in high demand in India, and the demand for skilled professionals is expected to continue to rise in the coming years.
Data Science Future Scopes
Some of the areas where data science is making a significant impact include:
- Finance: Data science is used in the financial sector to identify fraud, predict customer behaviour, and optimise risk management.
- Healthcare: Data science improves patient care and outcomes by analysing medical records, predicting disease outbreaks, and identifying trends in healthcare data.
- Marketing: Data science improves marketing campaigns by predicting customer behaviour, identifying market trends, and optimising target audience segments.
- E-commerce: Data science optimises online shopping experiences by analysing customer data, predicting buying patterns, and personalising recommendations.
- Transportation: Data science improves transportation efficiency by analysing traffic patterns, predicting maintenance needs, and optimising routes.
- Education: Data science improves educational outcomes by analysing student data, predicting academic performance, and identifying trends in the education sector.
Data Science Scope and Salary
Data Scientist’s average salary is ₹6,98,412. An entry-level data scientist can earn around ₹5,00,000 per year with less than a year of experience. An entry-level data scientist with 1 to 4 years of experience will be paid around ₹610,811 per year.
In India, a mid-career data scientist with 5 to 9 years of experience earns ₹1,004,082 per year. As your experience and skills improve, your income as a Senior Data Scientist increases dramatically to over ₹1,700,000 annually in India.
But of course, data scientists’ salaries depend on several factors, including company size and reputation, geographic location, education, job title, and work experience. Big names and big companies in the big data industry, such as Amazon, Spotify, Airbnb, Netflix, IBM, Accenture, Deloitte, and Capgemini, typically pay high fees for their data scientists. The more experience with big data, the higher the market value.
Conclusion
Data science is a rapidly growing field that significantly impacts various industries and sectors. You can also get a BCA in data science to start your career in the field. It provides a comprehensive education in data science concepts and practical skills, as well as hands-on experience and a strong foundation in computer science. While you pursue your degree, you can also learn something extra to complement your knowledge, and with Sunstone you get that opportunity. Once you register with Sunstone, you get access to industry-focused training programmes that will help you enhance your skills and get lucrative job offers.
