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Why is the Demand for Data Scientists will be Skyrocketed by the Year 2020?

Data Scientists rather would call them as “Data Jugglers”, is the top priority of fortune 500 companies since this position is one of the most challenging to recruit for. Traditionally, the business decisions are made on the basis of revenue but this practice is slowly fading with the emergence of a powerful method of analysing the data. Data of any type, not only the numbers even the unstructured data are being analysed by Data scientist to derive useful insights for the company.

For an Organisation, every major execution level decision is based on the Data and if they utilise the enormous amount of Data lying underneath to uncover hidden insights, it effectively fuels smart business solutions.

Demand for Data Scientists by 2020

Interesting Predictions about “Data Scientist Jobs” by IBM:

The increasing demand for “Data Scientist” is a positive sign but “will the growth be as steady as it is now, in the year 2020 too?”. IBM, the technology giant has made some interesting predictions on this lucrative field.

  1. The job openings for Data & Analytics professionals would definitely see an upward curve in the employment graph and expected to hit the highest record of 2.7 million every year by 2020.
  2. IBM is predicting that, by 2020, the number of annual Job openings in U.S. for professionals in Data Analysis field would have witnessed an increase of 364, 000 openings to 2,720, 000. Yes, it is projected to grow up to 15% openings in Data Science and Analytics field.
  3. Data Scientist, Data Engineers, and Data developers are going to witness a huge annual demand of 700,000 openings by 2020. Particularly, the demand for Data Scientists and Data Engineers is projected to see an upward curve of up to 39%.
  4. It is interesting to note that the Data Science and Analytics jobs remain open five days longer than the market average.
  5. Talking about the pay check, advertised Data Science jobs bring in an average pay of $105, 000 and the jobs demanding machine learning skills are going to credit an average pay of $114, 000. Data Engineering jobs are advertised for an average of $117, 000 which is indeed a fat salary. Isn’t it?

An important key take away from the predictions is “Finance and Insurance, Professional services and IT are the sectors that are going to contribute a huge demand of 59% employment for all Data Science and Analytics professionals”.

A complicated art of understanding of both the raw as well as the structured data demands rigorous training and exposure to many real times examples. In fact, by 2020, 81% of Data Science & Analytics jobs going to demand Data Science professionals with 3-5 years of experience or even more. This prediction of IBM signifies that it is necessary to enroll in a Data Science training that can make you a better master.

Enroll with Datamites™ Institute for Data Science training programs in Bangalore to become a part of this phenominal change.

 

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