Explore abundant opportunities in data science jobs across diverse industries. Unlock your potential now!
Owing to the rapid development of technologies, including the Internet of Things, Machine Learning, Artificial Intelligence, and so on. Data has become the new value of any organization. It is vital for the business because it assists companies to make better choices.
With the growing amount of data, data science was introduced. Data Science mainly deals with the gathering, processing, manipulation, managing and organizing of information that aids organizations in identifying patterns and making more informed business-related decisions. Data science is one of the fields in high demand that is expanding across every industry, and the demand for data scientists is nearly everywhere.
To gain new insights or make significant business decisions, the need to hire Data Scientists is comparatively growing in a highly competitive market. To organize large sets of data rationally, data scientists utilize math, statistics, and programming knowledge. They then apply their expertise to discover the secret data solution to meet the business goals. That’s the reason Data Science is essential in various fields.
Some exciting stats below show that a Data Science career is the top job in modern technology.
- As per the U.S. Bureau of Labor Statistics, The number of positions that need Data Science skills is expected to increase by 27.9 per cent between 2026 and 2026.
- The market for data science is predicted to increase by USD 95.3.9 billion in 2021 and USD 322.9 billion by 2026.
- According to the latest research data, engineering is among the areas that are growing fastest in tech, registering an 88.3 per cent increase in job advertisements.
- The salaries of machine learning and data science positions are on the rise, as a data scientist earns USD 176,213, with an engineer in data science earning the sum of USD 166,992.
- In the latest research from Forbes, five per cent of all data jobs related to data science and analytics include I.T. financial, insurance, finance and other related professional services.
- A majority of companies across the world are putting the majority of their revenue into establishing the most skilled data analytics division and hiring the most intelligent individuals in the field.
Read More: https://www.analytixlabs.co.in/blog/data-science-salary-report-2022/
The growth In Data Science jobs:
Due to the increasing significance of data, Data Science jobs are highly sought after today. The need for data science jobs is increasing each year. India is in line with the U.S. regarding the need for skilled Data Science professionals. According to the research done by Analytics India Magazine, which focuses on Data Science jobs, more than 50000 opportunities for Data Science will manifest in India in the next few years. It also reveals that more than half of present I.T. highly skilled people should speed up in data science and other specific responsibilities since their expertise is becoming obsolete.
Why Data Science jobs are in huge demand?
These are the leading causes:
- Abundance of data: Organisations worldwide face challenges in dealing with the vast amounts of information available. The more difficult task is managing future data expected to grow exponentially.
- Talent shortage: Finding a well-equipped talent within data science is not easy. Experts who can comprehend data’s power and apply it to economic benefits are a rare treasure to come across. Demand for data scientists and analysts is like gushing incessantly, and supply is an evaporation. In the report for 2021, McKinsey declared that the U.S. alone has a shortage of 195,000 data scientists. Since then, demand has increased exponentially.
- Lack of Skills: Skills that are diverse and lengthy Data scientists require more than just a basic understanding of programming or even coding. It would help if you could use tools like Spark, Hadoop, and NoSQL. In addition, you should be proficient in computer programming, machine learning, and statistical modelling. It’s a challenge to acquire the required skills for a single individual.
- No entry for professionals with zero knowledge of related subjects: Entry is almost banned for professionals or students without connection with computer science, engineering, mathematics/statistics, and general science. Data Science is a multidisciplinary discipline that requires a solid understanding of one of these areas.
- A great salary: The pay is fantastic. There’s no question of it! Payment is just great! However, so is the effort required to become an expert in data science within your company.
Top Industries Hiring Data Scientists in 2024
Data science is increasing, which is the ideal moment to start a career. Skills in data science are distinctive and relevant to firms that range from IBM, Amazon, Google, Netflix, Coca-Cola, Ford Motors, and Starbucks, among others. Many not-for-profit organizations and social initiatives to create a better world have led to many job opportunities in data science.
Top Industries with Data Science Jobs
According to the U.S. Bureau of Labor Statistics, it is estimated that job opportunities for data scientists will increase by 35% between 2022 and 2032, which is more than the typical rate for all professions. Around 17,700 job openings in data science are anticipated annually, on average, over the next ten years. This blog highlights the most popular sectors actively posting positions in the field of data science that require skilled specialists.
- BFSI
More frequent use cases within sectors like the Banking, Financial Services, and Insurance (BFSI) industry have resulted in a massive rise in data to analyze and act on. The sector’s main focus is making use of data science throughout the decision-making processes built on real-time insights of customer information.
There are several ways that data science and AI could assist financial institutions in becoming more efficient when it comes to providing the services they need to their customers.
- Fraud detection
- Lending and appraisal of loan management
- Risk modeling
- Secure and manage information about customers
- Lifetime value prediction
- Customer segmentation
- Algorithmic trade
- Credit scoring and underwriting
Top Employers
- JPMorgan Chase
- HDFC
- ICICI Bank
- HSBC
- Citi Group
- BNP Paribas
- Media & Entertainment
The major media and entertainment companies are YouTube, Netflix, Hotstar, and others. They are now utilizing data science to understand their users better and give them specific and relevant advice. The entertainment channels that are regularly broadcast and newsfeeds that focus on gossip rely heavily upon user information.
A new report from PwC indicates that the Indian OTT video market is set to expand at 21.8 per cent CAGR of INR 4464Cr from 2018 to INR 11976Cr by 2023. The subscription video-on-demand market is expected to grow at 23.3% CAGR from 3756Cr as of 2018 to INR 10708Cr by 2023.
The digital reality is designed to meet consumers’ needs and preferences. It is represented in the concept of addressability and the capacity to engage with customers according to their preferences. In a world in which everything relies on information, the entertainment and media sector is looking for data scientists who can gather data, process it, analyse it, store it, provide suggestions, and positively affect the industry.
Strategies for data science, particularly machine learning and artificial intelligence, have helped to scale up the entertainment and media.
Role of data Science in Media and Entertainment:
- Customer sentiment analysis
- Hyper-Targeted Advertising
- Smart Recommendations & Personalized Content Experiences
- Real-time analytics
- Optimized Media Scheduling
- Programmatic Ads Buy
- Predictive Modeling to Target Content Creation
- Utilizing social and mobile media content
- Healthcare
In the healthcare sector, where the bulk of information isn’t structured and isn’t easy to analyze and access healthcare facilities, hospitals require data scientists who can combine heterogeneous, fragmented, and unstructured information. The range of data includes electronic medical records to clinical research trials, genetic data to billing, wearable information, care management databases, research articles and more. Data science has helped to handle all the data.
The health sector has been ranked as the top Indian job creator in data science over the last few times. Data science has also contributed to developing and evaluating methods to increase equity in healthcare accessibility, opportunities, and the quality of healthcare services. A few areas with a vast scope to benefit from data science include Drug Discovery and Recognizing health hazards and best practices.
Role of data Science in Healthcare:
- Prevention plans
- Diagnostics of illnesses
- Giving more specific treatments and personalised medical
- Post-Care Monitoring
- Hospital operations
Although data scientists must have a solid understanding of programming languages and statistics, The field also requires specialists with” capabilities, including storytelling skills and superior communication skills, into and convey the intended results.
Top Employers
- GSK
- GE Healthcare
- Sanofi
- Retail
Despite the ferocity of the worldwide pandemic, closures of stores and layoffs didn’t affect the demands of data scientists within the retail sector. Retailers that cater to consumers thrive by enhancing personalization and relevancy and have one goal – to better understand shoppers’ behaviour and patterns by analyzing information.
Data science has assisted retail companies in improving consumer understanding. Data scientists are always in demand in the retail industry because they have a unique mix of solid data knowledge and business acumen, tech expertise, ingenuity, and statistical learning.
Role of data Science in Reatil:
- Review people’s purchase and search history and help users find the right products
- Design a recommendation as well as a personalization and recommendation system
- Study customer behaviour as well as market information
- Increase customer satisfaction through pre-planned analytics
Top Recruiters
- Amazon
- Flipkart
- Walmart
- Aditya Birla Fashion & Retail Ltd.
- Future Enterprises Ltd.
- Reliance Retail Ltd.
- K. Raheja Group (Shoppers’ Stop)
- Landmark Group (Lifestyle)
- ITC
- Telecommunications
Today, customers are constantly connected to networks via texts, voice messages, social media sites, etc. Telecom service providers can access vast quantities of information. Other data sources, like websites, previous purchases or search habits, and the demographics of customers, such as addresses, gender, age, and location, can be crucial to telecom companies. Here is the importance of data science plays a part.
The functional classification and use of massive data have revolutionized the telecom industry and helped them better serve their vast range of clients.
Role of data Science in Telecommunication
- Offer personalized deals to clients
- Allocate network resources
- Order predictive maintenance
- Ensure smarter network deployment
- allows optimization and pre-planned maintenance of networks
- Detect fraudulent activities
- Product innovation
- Contextualized promotions based on location
- Targeted campaigns
- Call Detail Record (CDR) analysis
- Optimized pricing
Top Employers
- Bharti Airtel Limited
- Reliance Jio
- BSNL
- Vodafone-IDEA
- Automotive
Data science has assisted in helping the industry to remain in the race by enhancing everything from research to manufacturing and marketing. Furthermore, using advanced analytics has created autonomous auto systems comprising cameras, sensors and radars. Global Navigation Satellite System (GNSS), Inertial Navigation System (INS), Light Detection and Ranging (LiDAR), as well as many others.
Role of data Science in Automotive:
- Increase safety in vehicles by using cognitive IoT
- Reduce the repair cost
- Make and manage better schedules
- Improve production line performance
- Find defects in manufactured components with the concept of predictive maintenance
- Allow manufacturers to have greater control of their supply chain, including the management of logistics
As cars became more sophisticated and capable of capturing more significant information, it became impossible to track wear and tear and report about mileage, fuel efficiency, and travel routes without using scientific data research. Get ready for vehicles that can connect, collaborate, and even navigate independently without human intervention!
Top Employers
- General Motors
- Volkswagen
- Maruti Suzuki
- Hyundai
- Honda
Every industry is attempting to use the power of information to succeed in the marketplace. If you want to get on the data science trend, look at an education in data science.
- Digital Marketing
Social networks, search pages and web traffic display networks, video websites, CRMs, databases, etc. These are currently generating enormous amounts of customer information. Analyzing these huge amounts of data requires a high degree of business intelligence, which can only be accomplished by adequately applying data science methods. This is why digital marketing is increasingly utilizing data science to aid in the analysis of. Data-driven data can assist marketers and brand managers in getting crucial data.
Role of data Science in Digital Marketing
- Predict user behaviour and help businesses make better choices.
- Predict your users’ preferences to deliver them highly customized deals and other content they would like, thus increasing the chance of turning into leads.
- Spot patterns and trends which can aid with product development
- Segment markets and communicate with the user better
Top Recruiters
- Reliance Industries Limited
- Amazon
- Flipkart
- Walmart
- Aditya Birla Fashion & Retail Ltd.
- Professional Services
Data science-related jobs are widely offered in professional services since analytics create buzz. Large conglomerates and small-scale enterprises seek specialists who can gather company information, keep it in a safe place, and ensure its security. Handle it properly. Data science implementation strategies are distinct for each business, as the methods used in collecting data, processing data, and data visualization are different by the functions of the industry. The role of data scientists working in the professional field is mainly related to data science consulting. Using data science, these companies will improve their analytical skills and comprehend the workings of their operations, which will achieve the business’s overall goals.
Top Employers
The category of professional services typically includes:
- Legal services
- Bookkeeping and accounting
- Marketing consultancy
- I.T. services
- Customer service
- Logistics
- CyberSecurity
Cybersecurity Ventures forecasts that global cybercrime costs will rise by 15% annually and reach $10.5 trillion annually by 2025. That’s up from the 3 trillion dollar amount in 2015. It’s fascinating to learn hackers today employ the latest Artificial intelligence and deep learning techniques for their work, which is through cyberattacks.
The cybersecurity industry is using the use of data science as well as AI to counter this expanding usage of algorithmic techniques to carry out harmful actions. Data scientists employ AI and machine learning methods to discover the cause of these malicious actions by analyzing attack patterns and finding solutions to stop and repeat attacks.
Data science and cybersecurity have transformed computing into more efficient and intuitive processes than conventional information processing. This creates a platform to collect data from pertinent cybersecurity sources and enhances the data-driven pattern. The fusion of cybersecurity and data science is transforming from conventional security options like user authentication, access control, firewalls, cryptography, and access control towards a systematic approach to managing data.
- Accenture
- Cisco
- IBM
- Microsoft
- National Informatics Centre
- QuickHeal Technologies Limited
- McAfee
- Mining quarrying, mining, and Oil and Gas Extraction
Automation of processes is the primary advantage technology can bring to any sector. In the oil industry, there is no one of them, particularly for the high-risk sector that needs to operate 24 hours a day. Data science’s use in the mining and oil and gas industries is growing, and it isn’t restricted to exploration or manufacturing. Data science is primarily employed in the process of industrial transformation and distribution. In particular, several geographic information systems (GIS) have probability modules that help determine which areas have the most productive potential. Similar to Measurement During Drilling (MWD) technology, storing terabytes of petroleum and fluid data through data mining is feasible for a better understanding of the reservoir.
Top Recruiters
- Indian Oil Corporation
- ONGC
- Bharat Petroleum
- Reliance Petroleum Limited
- Essar Oil Limited
- Cairn India
- Gas Authority of India
- Hindustan Petroleum Corporation
As technology and globalization dominate the current job market and in the future, data science will be in demand for many years. If you’re a fan of numbers, patterns, and analytics and possess the necessary skills, the data science positions will be perfect for you!
Looking for a career in data science?
This is an excellent time. Demand is rapidly increasing, and traditional skills are quickly becoming outdated. As more businesses wake to the potential of this technology and data science, jobs available in India have begun to compete with other IT-related jobs. Cities such as Mumbai, Chennai, and Bengaluru are the leaders in the job market for data scientists in India, so it’s a perfect time to consider switching to a job in data science.
Earn a data science certificate from the world’s most respected mentors.
- Find U.S. Remote work.
- Learn from top Data scientists who are from FAANG Companies and IIT Alumni
- Real World Projects
- Live Class 100% as well as 1-1 on-demand Doubt Session
- 100% Placement guarantee, else Refund
- Cutting-Edge Curriculum
Register now on FunctionUp.