Is there any Scope of Data Science in India? Take Expert’s Opinion
At what point will we meet the equilibrium? A report stated that statistics even increased when it came to 2018; they estimated Data Science job vacancies were 2.9 million. The demand is shooting up like anything, and in the near future, it is said that the companies require more Data Scientist. The requirement will grow and can never decrease.
Do you know Flipkart has 700 job openings for Data science and other technical areas? Not only this, Amazon, Netflix and many such big companies have demand and massive job openings for data scientists.
Data Science is experiencing a surge in jobs across the World. India is one such country that is experiencing a data explosion. The scope of data science in India and the need for IT professionals to upgrade their skills in the field of Data Science is increasing.
India has been the center of software and IT industry. With the gradual degradation of traditional IT positions through automation, the Indian IT industry is experiencing a major transformation. This is the new age of data and it is a need of the hour for professionals to update themselves in order to sustain their relevancy.
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Data Science – A Career of the Future?
Data Science has been hailed as the “Sexiest Job of the 21st Century”. It has brought about a fourth industrial revolution in the world. But why is Data Science a highly sought after field? The answer lies in the exponential increase in data. There is a massive data revolution that has transformed the industries around the world. Data is the fuel that drives the industry.
Previously, major companies and industries would rely on experiences and their “gut-feeling” to make major decisions. However, this often back-fired and caused heavy losses to the industries. With the advent of Data Science, however, industries are able to make careful data-driven decisions. Much of this is contributed by the fact that the industries require data science.
With the help of data science, industries are able to analyze trends in the market, make careful decisions and analyze the various risks involved. Data Science has facilitated rapid growth in industries and has minimized their losses. It has led to a rise in demand for many data scientists. This has, therefore, contributed to having data science become a career of the future.
In India, the field of Data Science is rapidly emerging. Various startups are focusing their businesses on various data science technologies. Major companies have shifted their base from traditional software development and consultancy towards Data Science. In India, there is a massive scope of Data Science.
Scope of Data Science in India
Data Science requires a steep learning curve. It comprises of various underlying disciplines like mathematics, statistics and computer science. In order to become a full-fledged data scientist, you must be proficient in these fields. Due to a high learning curve, there are lesser data scientists.
Don’t forget to check – Importance of Maths and Statistics for Data Scientists
Data Science is a recent field. As a result, there are very few people who have the right expertise in this field. India lags behind in compared to the United States, where there are many Data Science boot-camps and Universities offering degrees in Data Science. As a result, there are very few people who possess knowledge of Data Science. And, these people usually have formal degrees in Computer Science, Mathematics or a related discipline.
This lack of supply in Data Scientists is contributing to the rising need for their roles. Companies who want to maximize their profits, analyze customer segments and minimize their losses are actively looking for data scientists. Furthermore, various startups that have emerged in India are looking for specialized Data Scientist who possess the right skills to fulfill their requirements.
According to The Hindu, in a recent survey, there are close to 97,000 data analytics positions that are vacant in India. The rise of data analytics companies has contributed to a sharp increase of 45% in the total jobs last year. This staggering figure of the number of data science positions will give you an idea about the scope of Data Science in India.
Data Science Demands a High Salary
There is a huge gap between the demand and supply of data scientists in India. This discrepancy is contributed by the lack of supply in data scientists and their rise in demand by various industries. Furthermore, the steep learning curve contributes to a sharp increase in the income bubble for Data Scientists.
As a result, Data Scientists in India are earning more than their contemporary IT positions. A Data Scientist in India earns an average of ₹650,000 in a year. This is well above the national average for software engineers who make ₹450,000 per annum. Therefore, data scientists in India have more scope in the sense of their salaries and added privileges.
Time to learn the tips on How to get your first Data Science Job
Redefining Conventional Roles
In India, conventional IT roles software development, testing, IT administrators, database managers etc. have been around for several years. However, with the advancements in automation and artificial intelligence, industries are reducing their workforce. As a result, there are massive lay-offs happening in the IT industries all over India. Moreover, Indian IT workers are getting affected because of their massive skill gaps, as was stated by the IBM chief Ginni Rometty.
These job losses in the IT industry are termed as “Digital Bloodbath” and have immensely affected the Indian IT workforce. This is an exigent issue that needs special attention for the people to upgrade their skills and update themselves with the needs and demands of the IT industry.
For this, employees need to be well versed with the technology of the future – Data. There is a huge scope for Data related operations in India – not just data science, but also data analytics, big data engineers, big data managers and data architects. If there is a huge demand just for data scientists, imagine the demand for all these roles combined! The demand for data scientists and other data related occupations is more than ever. Therefore, in India, Data Science can be perceived as a new direction for the people to establish their career for long term benefits. It is clear that there is a high scope of data science in India.
In this article, we overviewed how India is experiencing massive growth in data science positions. We also understood various factors that are leading to the surge in need for data scientists. We also discussed as to why the position of data science is attracting large salary bonuses. Furthermore, we discussed the “Digital Bloodbath” that has transformed our IT industry and how a career in data science can promise a stable future.
So, what are you waiting for? Start your learning, it is recommended to learn Big Data for Data Science. The most in-demand skills for companies.
Here comes the end of the article scope of data science in India. Any questions for Data Science Careers? Ask in the comment section.