Businesses today generate an incredible amount of data. Using that information, leaders can better understand their market position and how to capitalize on new opportunities. However, much of the data that gets generated is unstructured and unusable. Data scientists help companies make sense of their data so they can draw value from it.
The need for data scientists is on the rise
According to the Bureau of Labor statistics, increasing interest in big data is driving substantial growth in the mathematical sciences. In fact, BLS projects 27.9% job growth in this sector between 2016 and 2026. Jobs specifically related to data analysis are expected to grow by 29.7%.
Why become a data scientist?
Data science is a highly rewarding field of study in more ways than one. Not only are data scientists well compensated, but the job also includes many opportunities to stretch your creative muscles.
According to Glassdoor, the average data scientist salary is $117,345. Professionals with more years of experience can demand higher compensation, with salaries increasing beyond $157,000. Companies are willing to pay a premium for professionals who not only possess the logical skills required for mathematical research, but also the creativity to develop novel analyses.
Using programming languages like Python and R, data scientists use machine learning and artificial intelligence algorithms to process and investigate huge sets of data. With this context, they can make predictions about future sales initiatives and similar business goals.
This is just a taste of what a career in data science can mean for you. Check out our infographic below to learn more: