There’s a growing demand for professionals who can extract insights from large amounts of data. Rated as the “sexiest career of the 21st century” by Harvard Business Review, data scientists are indeed among the fastest-growing and most profitable paths.
Data science is the collection, analysis, and interpretation of data to derive insights relevant to a given problem. The process involves several disciplines, from mathematics and algorithms to statistical analysis and machine learning.
A data scientist presents these insights as a solution to a business problem. He/ she extracts valuable data insights, utilizing them for various business strategies, models and plans. That said, here are three reasons to consider a career in this field having been analysed by experts from online casinos.
1 – Requires little or no formal education
Data scientists were traditionally very educated with around 88% having at least a Master’s degree and 46 with PhDs. These days though, there isn’t any need for formal education.
Many data scientists don’t possess either a bachelor’s degree or a master’s degree. In 2018, Indeed studied thousands of data scientist resumes and noticed that there was a stronger variance in educational backgrounds than almost any other career in tech. This is because the demand for data scientists is high, and the supply is low. A large quantity of data scientists transitions into data science from other industries like machine learning, data analysis, or software engineering.
Online boot camps can also prepare students for careers in data science by teaching the necessary technical skills, as well as offering career support using one-on-one mentorship and job application guidance.
2 – High demand
The Bureau of Labor Statistics (BLS) in the United States projects significant growth in data science opportunities in the coming years. Jobs are expected to grow 16% from 2018 to 2028, which is much faster than the average for all occupations. However, because occupations within data science are less common, this 16% growth will amount to approximately 5,200 jobs within that time frame—a lower number than most occupations would show if they saw the same percentage of growth.
While the actual number of jobs may be smaller, it’s an in-demand, highly skilled professionals. Many companies are eager to hire skilled data scientists—organizations currently have difficulty filling these positions as the labour market for data scientists is highly competitive. This competition is likely to continue despite the disparity in the actual number of jobs between data science and other occupations. It is a job wanted in sites like https://www.kingjohnnie.info/en/ and several other casinos.
At the current rate, increased job availability is expected to be available to data scientists as organizations continue to require the ability to draw insight from increasingly large amounts of data for a virtually infinite amount of purposes in the modern, digital world.
3 – Attractive pay
The median salary of a data scientist is $122,840. The lowest-earning 10% of data scientists earned less than $69,990, and the highest-earning 10% earned more than $189,780, putting data science careers in a relatively lucrative category of work relative to all other occupations.
The median annual salary for data scientists is considerably higher than the median salary of other computer jobs—which are promising in their own right—at $88,240 (May 2019). When looking at the median salary for all other occupations, which was last recorded at $39,810, the prospect of data science looks even more promising for the next generation of skilled professionals.