I came across a group of students who were discussing Data Scientists. I just joined in their conversation and found out the common term that brought them to discuss the same was “Big Pay”. Yes, I agree the salary and other perks given to Data Scientists are attractive. But no one in the group was thinking about all the knowledge, hard work and sacrifices made to get this pay.
The word “Data” is all over the place. We are very much familiar with the words Data, Big Data, Data Analytics, Data Scientists and others. Some of us are aware of the roles being played by each one of them. Well, this article might provide a good insight into the subject of Data Scientists, the demand for them and the reason for the alluring pay.
Data Science in plain words, is the study of Data. It handles developing methods of recording, storing, and analyzing data to extract useful information. The goal of Data Science is to get insights and knowledge from any type of data. A data scientist's role combines computer science, statistics, and mathematics. They analyze, process, and model data, then interpret the results to create actionable plans for companies and other organizations.
Data is magical as industries need data to help them make careful decisions. Data Science transforms raw data into meaningful insights. Therefore, data science and data scientists are in high demand in industries. A Data Scientist is a magician who knows how to handle data.
A skilled Data Scientist knows how to excavate meaningful information with whatever data he/she comes across. He/She steers the company in the right direction. The company requires strong data-driven decisions which he/she is an expert at providing. The Data Scientist has a thorough knowledge in various underlying fields of Statistics and Computer Science. He/She uses his/her analytical aptitude to solve business problems. Data Scientists are also well versed with problem-solving and are assigned to find patterns in data. Data Science requires a variety of tools to extract information from the data.
Now coming to the main point of discussion centering around the demand for Data Scientists and their lucrative jobs. There are companies that find it challenging to organize this large number of Data and there is a shortage of skilled resources. The perks of being a Data Scientist are: High demand, wonderful pay, the versatility of Data Science, the high prestige of Data Scientists, the absence of monotony at work, smarter products. Last but not the least, Data Science can save lives.