If you are looking for a suitable career that promises both growth and long term stability, then data science is the perfect option.
The industry is growing at a remarkable pace and has already had a tremendous impact in many business domains, be it manufacturing or marketing.
According to a survey conducted by Analytics Insight, the year 2021 will see a growth of 3,037,809 new jobs in data science. This is no surprise given the large amount of data produced globally which is roughly 2.5 quintillion bytes per day.
Every enquiry you search on your smartphone, every digital transaction you perform and all the online purchases you make add to this giant pool. Companies employ professionals to collect and analyse this data for decision-making purposes which includes finding new customers and predicting new market trends.
If you are considering studying a masters in data science, this blog can provide you with an insight into some of the reasons why it’s a good idea.
Data science will stay relevant
We have all witnessed the tumultuous economy of 2020, one which has made students and professionals reconsider their career goals. The good news is that despite the odds, data will stay relevant and important. From global brands like Google, Amazon and Starbucks to smaller enterprises, everyone is focused on using data to gain an added edge.
While Amazon is using data to alter product prices nearly 2.5 million times per day as per shopping patterns and competitor’s prices, Starbucks is using the same information to customise its menu based on season, weather and other factors. The coffee brand also uses data to reach out to customers who have not visited the store in a while by offering them special discounts.
Preferred tool of every organisation
Be it e-commerce companies, healthcare, retail stores or even government institutes - everyone is becoming reliant on data. It is the most feasible and effective tool for transforming a business; through data, businesses can improve existing processes and find better alternatives to boost efficiency. Additionally, data can help you to understand customers better and make decisions that offer a higher ROI.
Popular brands like Coca-Cola have made use of data for everything, be it amazing marketing campaigns such as ‘Share a Coke’ and the recent 'Give Something Only You Can Give' in 2020. Even product development, which includes the Cherry Sprite experiment, conducted to understand customers preference of beverage flavour required data inputs.
Offers a variety of job roles
Careers with data science are many and not limited to data scientists. Having a variety of job options allows you to explore your choices based on personal interest. You can take several pathways such as data analyst, machine learning engineer, information security analyst, big data engineer and more.
Also given the recent trends where data is being collected through chatbots and software robotics, there will be an emergence of newer job roles in this field.
Are you looking for the right course to consolidate your career in this dynamic industry? GISMA Business School offers graduate and postgraduate programmes to help you achieve that.
BSc Data Science, AI, and Digital Business is a graduate course that is perfectly suited to those who are inclined to enter the vast industry of data and want to understand more about technologies used in this domain. This data science degree, MSc Data Science, AI, and Digital Business, is designed for professionals looking to gain specialised skills in this field.
Both degrees are awarded by GISMA Business School, an institution that holds the prestigious AMBA accreditation. To explore each of the programmes in detail, click on the links provided.
An exciting career
Data science is a sector that will define the future of business. It will shape your learning and offer something new at work each day. This is because the field is continuously evolving and shaping new developments. Largely due to the adoption of new AI technology, data is being used in various formats by organisations.
We are seeing more enhanced algorithms being used to collect data and employed in the most impactful way. Also, customers are becoming more aware of their privacy and data habits. Hence, they are mindful of the ways in which a company collects their information and also demand a more enhanced customer experience.
This means that in future, there is immense scope for more innovation in the field of data science and it can shape the way a company conducts its operations or how a customer engages with a business.
- This article is written by Nandita Kaushal.