About 1.5 lakh jobs will be available in the data science space this year.
According to a recent study, India will offer 62 per cent more jobs in the data science space this year as compared to last year. About 1.5 lakh new jobs will created in the field, says the survey, which was undertaken by Great Learning, an educational technology firm. And most of these opportunities will be for professionals with less than five years of experience.
Last year, about 97,000 vacancies in the field of analytics and data remained unfilled due to the scarcity of the right candidates. Talent in this area is in high demand in the banking, financial services and insurance sector (BFSI), as well as in the pharmaceuticals, healthcare and e-commerce areas.
Data science has grown in importance lately because it allows organisations to get a better understanding of the needs and preferences of their consumers. It also helps them take relevant steps to improve sales and ensure employee engagement. Data science generates important information and data, which allows businesses to gain crucial insights to help them grow.
The data generated nowadays from various sources, such as financial logs, text files, multimedia forms, sensors, and instruments is too voluminous to be handled by traditional and simple tools. Therefore, more complex and advanced analytical tools and algorithms will be required to process, analyse and draw meaningful insights from this data.
Naturally, the demand has gone up for experts in mathematics, statistics, information technology (IT), and computer science. Most of the vacancies are for data analysts, business intelligence developers, data scientists and data engineers.