What is the Future Scope of Data Scientist in India?

What is the Future Scope of Data Scientist in India?

Data Scientist and Data science is always improving and change to a vast extent over the next ten years. We can clearly say that the Data Scientist will have a lot of scope in the future, and companies looking for Data scientist will increase. The best job in the future you will get is data science jobs. People are opting for a data science course, and people will be looking for data scientist salary.

Future Seriously requires Data scientists a lot, and companies will hire a lot of Data scientists. If you want to build up your career in Data Science, having a proper Data science course is essential to have a better foundation. There are a lot of institutes and online platform who provide this course. After you accomplish all the needs of being a Data scientist, you are good to go.

What is a data scientist?

Data scientist are a group of data analyst who engraves all the required technical skills to solve the complex issues. Not just stop here, even find the problems that may arise in the future and answer those.

The Data Scientist should be aware of mathematics; a computer researcher should be able to spot trends. A data scientist should be able to balance all the work, most important business, and the IT-related work.

A Data Scientist has to maintain a balance between all the stuff in a company, which is why the data scientists earn a very high payment. So, this is the chance to grab it and be the one.

A decade ago, the data scientists were not in the radar. But at a sudden, the popularity of the data scientists increased, and it changed the way how the businesses are feeling about data scientists and big data.

A company always has an unwieldy bunch of information that can be no longer ignored and has to be put together to get the business on tracks. The report is a gold mine that will help in generating revenues. For the given information to work, a digger is essential, and that person is the Data Scientist who has to dig the gold and bring it out to earn revenue.

Is Data Science Hard?

Well! to be clear, Data Science is not natural; it will take a lot of energy and a lot of time from you.

You must be thinking, what is this I’m saying! because you just now came across an ad which says, “Master Data Science in one month.”

Mastering Data Science takes years of hard work, while a lot of online courses claim as if it nothing. First and the foremost thing is to do a lot of practice and gain a lot of real-life experience in the right environment. Never and every skip forward, take time, and set up your data server.

It sometimes includes disestablishing a code or snippet, to which your computer showcase there is an error, and which very annoying. You need to have excellent patience level. Sometimes you may mess up with the built-in pipelines and lose some time. These all can cost you some extra work hours.

Learning Data Science is not an easy task, and it will take time. It is always better to accept the fact before jumping into it and still want to continue then prepare yourself accordingly.

If you are ready to learn Data Science in a hard way, the time invested in learning will be the best long term investment for your career. Data Scientist is one of the best profession to chose as a career.

Is Data Science a good career?

Learning Data Science skills is one of the brilliant Career options. As a career option, it is bright, while the path is not so easy you have to master in Python, R, SQL, and other essential Technical Skills.

However, finding a job can take some time and effort. But once you are in, then, there is no stopping.

The Job Titles you can look for after you have good knowledge of being Data Science are Data Scientist, Data Analyst, Data Engineer.

Data Analyst is the entry-level job which requires only intermediate technical knowledge.

While there are related job titles in Data Science are Machine Learning Engineer, Quantitative Analyst, Data Warehouse Architect, Business Intelligence Analyst, Statistician, Business Analyst, System Analyst, Operations Analyst, Marketing Analyst.

There are a lot of advantages to learning Data Science; you can even have a fair chance of doing Freelance work. Now, you must be thinking Data Science and Freelancing, can this happen. Yes! You can do freelancing, and you can earn $100-$200 per hour for being a Data Scientist Freelancer.

It is one of the best careers if you want to do something in the technological field.

Does Data Science have a future in India?

Data Science considered as one of the top professional careers chosen has a perfect future in India. There are a lot of companies coming up in India, and every industry irrespective has bulks of data and require a data scientist anyway.

Previously, the companies used to rely on their gut feelings to take any significant steps. But now they have a data scientist who gives a calculated reason before landing on a decision. It is better to be calculative than following your Gut.

People have seen rapid growths and able to analyze the market trends in a better way. A calculative step minimizes the risk factor.

All these factors clearly, showcase the scope of Data Science in India.

What exactly does a data analyst do?

A data analyst is not much different from the data scientist. Data Analyst converts the numbers into English that will let the company make easy decisions. The company usually have sales data, Market Analysis, Survey reports, Logistics, and others.
Now the Analyst has to take the data and analyze the whole thing and make the data usage that will help in choosing the better business decision. This may include a lot of things such as figuring out new ways to increase business, launching new products into the marketing, or managing the costs of the company.

There a lot of job roles for the data analyst for various fields such as operations analyst, marketing analyst, financial analyst, digital analyst, and so on.

How much money does a Data Analyst make?

Data Analyst being an entry-level pays well off to the entry-level employees.

Data Analyst

Source: University of Pennsylvania

The minimum Data Analyst Salary is: $42,208 per year

While the range for this is still uncertain, but if we check and estimate, then the highest-paid is approximately $140k per year.

Can acquire the bonus up to $10,000 and $8000 plus profit sharing.

The companies like IBM, JP Morgan, University of Pennsylvania, Cognizant Technology Solution are paying $ 74,732, $67,674, $59,781, $70,627 per annum salaries respectively for the Entry-level Data Analyst.

How much do Data Analysts make in India?

Data Analyst in India also makes a reasonable amount, in the entry-level as a Data Analyst.

The minimum salary for an entry-level Data Analyst is Rs 4,40,000/- per annum.

While the average Data Analyst Salary in India is Rs 5,81,887/- per annum, this showcases how much in demand Data Analyst job is in India.

Going to a maximum salary paid, we can never imagine what the maximum wage would be it all depends upon your work and dedication. However, according to some Job Seekers websites like Payscale and Glassdoor, the highest salary for a data analyst is calculated to be Rs 12 LPA and so on.

Some of the Indian MNC’s who are offering jobs in Data Analysis fields

Accenture: Rs 633,169/- per annum

Myntra: Rs 798, 949/- per annum

Tata Consultancy Services: Rs 480,000/- per annum

Capgemini: Rs 686,611/- per annum

IBM: Rs 470,039/- per annum

Is Data Analyst a good career?

A skilled Data Analyst is one of the sought after professional career anyone can opt. You would be wondering why is it so, the answer is because it is in demand, companies strongly require Data Analysts.

The requirement of Data Analyst is huge, but the supply is less. So, opting for a career as Data Analyst will increase your demand. Even you can have leverages such as huge salary, excellent perks, and a lot of liberties in the entry-level only.

You can find the need for Data Analyst in diverse fields and companies, any company that has to use the amount of data requires a data analyst for the analysis. For some of the jobs roles in Data Analyst involve analyzing the data to making important investment decisions, target the customers, assess the risk, and check the money allocation.

Data Analysts have to take mountains of data and make it short. They have to make it sweet according to the trends, forecast. With the data help, the employers make a better decision and keep the business going.

You can find Data Analysts in Wall Street, at investment banks, private firms, top MNCs, hedge funds everywhere. Data Analysts are not limited to specific terrain; Data Analysts are in every field.

What is a Data Scientist Salary?

According to the leading Job Seeking site Glassdoor, the average salary of a Data Scientist is $113,436 per annum. This indicates that people, most importantly, the forms are understanding the importance of Data Scientist and want to use their skills to drive smart business decisions.

It is not a hidden secret. Data Scientists earn enormously. Just prove your skills, whatever deal you want you to get it. But, proving yourself capable of everything is very important.

A lot of companies irrespective of their domain are looking for Data Scientist. The lowest payment for Data Scientist is $86,000 per annum.

While the highest salary is uncertain because it all depends on your hard work and the company you are working. However, if we take a look at some top Job Seeker sites, LinkedIn is providing the highest salary up to $280,000.

As you know, Sky is the limit, similarly for your talent and hard work the pay scale would be limitless.

What is the scope of Data Scientist Jobs in India?

There are a lot of jobs for Data Scientist in India, giving a vast exposure to the people who want to be a Data Scientist. As we check Naukri.com, one of the top Indian Job seeking sites say more than  25,000+ jobs are there in India just for Data Scientist. And as we checked LinkedIn one of the top job finding a place in the whole world, more than 14,000+ jobs are there in India for Data Scientist.

If we rely on the statistics, in the year 2015, there were 2.3 million job openings solely in India. This statistics even increased when it came to 2018; they estimated job vacancies were 2.9 million. We can say that the companies require some Data Scientist and the requirement will grow and can never decrease.

This clearly shows the requirement of the Data Scientist in India. According to the Indian Times analysis;

Recently, business report reveals that 50,000 jobs in Data Scientist and Machine learning. This shows how business analytics increased in India.

How much can a Data Scientist earn in India?

Data Scientist Salary: The average salary of a Data Scientist in India is $1,029,665 per annum. Excluding the bonus, profit share, it all depends upon your talent and experience.

We can expect that an experienced Data Scientist can earn up to $3.5 million.

You see the scope of the Data Scientist and how the future will require a data scientist. There are a lot of online and offline platforms offering Data Science courses you can always choose.

Nowadays, online courses have become very feasible, for the best data science course you can opt Udemy.

How many Data Scientists are there in India?

According to Deloitte, there is a massive requirement of Data Scientist all over the world. In simple ways, we can say that Yes! There is a shortage of Data Scientist. If we follow the latest report alone in the US, they have a lack of 151,717 people with data science skills. With particularly, 34,032 people shortage in New York, 31,798 people shortage in the San Francisco Bay Area, and 12,251 people shortage in Los Angeles.

Coming to India, if we follow the LinkedIn reports, India has less than 10 percent of the data scientists that are available globally. If we check for America, they have 40 percent of the data scientist.

The exact number of people in Data Science is not known, but when estimated, then only 8000 people are working as a Data Scientist. However, the industry requirement for the Data Scientist is much more.

Data science is considered as the backbone for all the services that are based on IoT or Internet of things, Artificial Intelligence, Machine Learning. If a company has several skilled Data Scientist, then they have higher competence. As the Indian IT services are increasing, so the requirement of Skilled Data Scientist also increases.

Who is the best Data Scientist?

As it is the said Data Scientist is one of the Sexist jobs, we are listing out some of the best Data Scientist presents. Check it below:

  • Dean Abbott: The co-founder and Chief Data Scientist at SmarterHQ
  • Sebastian Thrun: The CEO of Udacity, as well as the research professor at Stanford University.
  • Kenneth Cukier: the chief data editor at The Economist.
  • John Elder: the founder of a data mining consultancy Elder Research, Inc,
  • Andrew Ng: the chief Data scientist at Baidu Research, including the associate professor at Stanford University. And also the founder and chairman of Coursera.

What is the difference between a data analyst and a data scientist?

According to the Havard Business School Review:

Being a Data Scientist is one of the sexiest jobs in the 21st Century, and companies will require a lot of data scientist in future. Data Scientist is considered to be one of the coolest in IT.

There are four different roles for Data Scientist:

  • Data Researcher
  • Data Developers
  • Creatives for Data
  • Data Businesspeople

The data analyst job roles constitute of four major tasks:

  • Data Architects
  • Analytics Engineer
  • Database Administrators
  • Operations

Qualification needed for Data Scientist and Data Analyst:

Data Analyst And Data Scientist

Job trends for Data Scientist and Data Analyst in Google trends:

 

Source: Google Trends

Data Scientist

Source: Google Trends

While coming to the salaries of Data Scientist and Data Analyst, Data scientists earn more than that of Data Analyst. The average payment of Data Scientist is $117,000 on the other side the average salary of Data Analyst is $62,000.

We can say that Data Analyst is a part of Data Science. They perform a variety of other tasks included in Data Scientist like collecting data, organizing it, and obtaining the statistical information. Data Analyst is responsible for keeping the data in the form of Charts, Graphs, tables which are used to build the database for the company.

Can a data analyst become a data scientist?

Yes, a Data Analyst can, of course, become a Data Scientist, as earlier said Data Analysts are a part of Data Science. While their primary work is to convert all the Data, Market Research, Surveys, Collections into an understandable and robust language. However, there are particularly crucial that should be taken into account if you want a data scientist from an Analyst.

Work with Different People

Try to work with various sets of people in different fields; it will let you grab the knowledge from diverse areas. Therefore, identify the right pool of team and connect with them.

Exercise your role

You must always keep on exercising your skills in the same position. This makes you analyze what you know and what is yet there to understand. You should still consider yourself as old enough to be a Data Scientist. It is because the Data Scientist position requires critical thinking and specific problem-solving skills. You should be practicing your Data Analyst skills to become a Data Scientist tomorrow.

Improve your Skills

Apart from just the Mathematical skills, you should be able to improve the model skills. This will provide you insight and lets you work with other people and helps you face the problem-solving situations. The best way of developing data science is to improve all your skills and try to adopt new skills and take on real-life issues.

Position yourself in Market

Once you have made your mind to shift to Data Science from Data Analyst, make yourself the best so that you get hired by the best. Therefore, you need to have all the necessary skills to grab the chance in the best organization. Gaining confidence to use various tools that will help you in work, and solve all the problems quickly.

What skills does a data scientist need?

If you are potential data scientist whatever the situation maybe you will use any information to conclude. Craving into Data Science is what a Data Scientist does. Below we are going to mention the Technical skills and the Non-Technical skills required to become a data scientist.

Technical Skills

Technical Skills

If we consider the technical skills, then Statistical Analysis is most important. And should always have an analysis to leverage the power of computing the framework that can be processed, then presented all the unstructured data into structured data. This is one of the top-notch technical skill that a data scientist needs.

  • Programming Language: You need to have some basic knowledge on the programming languages such as Python, C/C++, SQL, JAVA. However, Java with Python is considered to be the most imperative Programming language for the Data Scientist. The Programming Languages are required traits in a Data Scientist to clean and structure the unstructured data.
  • Analytical Knowledge of SAS and R: The Analytical knowledge will help you extract the required data, valuable insights from the chunk of unstructured data. SAS, Hadoop, R, Spark, Hive are the most critical Analytical Tools that a Data scientist most know. However, there are a lot of classes that offer certification course.
  • Adapt Yourself: When we say that Data Scientist must structure the unstructured data. Which means the data scientist should be habituated and adapt themselves certainly so that they can solve the unstructured data from any junk of information. If the Data Scientist is working on Marketing related work, he should be capable enough to take out the relevant insights from the bunch of information.

Non-Technical Skills

So, the above were some of the critical technical qualities that a Data Scientist should have, now its time to know the Non-technical Aspects that a Data Scientist requires.

  • Awareness to Business: If a data scientist doesn’t know what his business is, what his company is going through. On the other hand, don’t know how to make a successful business model, then all the technical skills that you know are useless. You can’t learn the problems and get to a conclusion. Then technical skills are nothing because Problem Solving quality is the first tactic.
  • Communication Skills: As being a Data Scientist, you will have a group of people working under you whom you have to address. Not just the people working with you, even the one who is non-technical and new to it should understand when a data scientist explains. Strong communication skills are a must.
  • Have a bright instinct: Want to be a great data scientist then have a higher intuition, because this is one of the top traits of the data scientist. Having a great instinct means having everything. It makes your path along with the pile of all the information that you will find the moment you step in to become a data scientist. This is the work that makes a data scientist more efficient.

How can I become a Data Scientist in India?

As mentioned about you need to have some specific Technical Skillset, before that you need to be qualified and hold some specialization degrees. You need to have at least four years of Bachelor’s degree. If you want to be in a demanding leadership position, you should surely have a Master’s degree and Doctorate.

Some of the schools offer Data science degrees too. he degree can be very beneficial for the long run as the degree will provide you all the necessary skills to process and analyze a set of data. The degree will you provide prior information about the field, and provides information related to statistics, computers, and analytical skills. Enhance your judgemental decision based on the data.

The most common degrees that will help and make your Data Scientist course easy:

  • Computer Science
  • Physics
  • Statistics
  • Mathematics
  • Applied Maths
  • Economics

The skills will also include Coding, Quantitative Problem Solving, Analytical Reasoning, Experimentation, and so on.

CONCLUSION

While we come to an end, it is visible that Data Science and the requirement of Data Scientist in India are increasing a lot. As we can see clearly, Jobs in Data Science will improve a lot.

If you also want to be a Data Scientist, then follow all the things that we listed above. With all the technical skills that are required to be. Rest, it is you and your talent that will help you in landing a position like this.

If you need any help regarding Data Science and want to know more about Data Scientist job-related things in India. Do leave a comment below.