What Is a Data Scientist?
Data scientists
do many of the same elements as data analysts, but they also typically
build machine learning models to make accurate predictions based on past
data. A data scientist often has more independence to try their ideas
and experiment to get exciting designs and aims in the data that
management may not have considered.
As a data scientist, you might be asked to evaluate how a change in marketing strategy could affect your company’s bottom line. This would require a lot of data analysis work collecting, cleaning, and visualizing data. Still, it would also probably need building and training a machine learning model that can make sure future predictions based on past data.
Skills Required:
All of the skills expected of a data analyst, plus:
- Solid knowledge of both supervised and unsupervised machine learning methods
- Strong understanding of statistics and the ability to estimate statistical models
- More advanced data science-related programming skills in Python or R, and possibly experience with other tools like Apache Spark
Career Prospects
If
you are working as a data scientist, your next job title may well be a
senior data scientist, a position that will earn you about $20,000 more
per year on average. You might also want to specialize further in
machine learning as a machine learning engineer, which would also bring a
pay increase. Or, you can view more toward management with roles like a
lead data scientist. If you need to maximize earnings, your final aim
might be a C-suite role in data such as chief data officer, although
these parts need management skills and may not require a lot of actual
day-to-day work with data.
Why Is Data Science a Good Career to Explore?
Advancements
in technology improved data science evolve from cleaning datasets and
applying statistical methods to a range that encompasses data analysis,
predictive analytics, data mining, business intelligence, machine
learning, deep learning, and so much more. Now, there still might be
some who believe that data science is just a trend, and the hype around
it will finally go away. Of course, nothing could be farther from
reality. The truth is, data science is just getting speed as all
businesses and government organizations use enormous volumes of data to
change what they do and how they do it.
Why Is Data Science Important?
Data
science is not just restricted to the F1 racetrack or the big casino
business players. There is practically no industry that can’t benefit
from it. Retail and e-commerce, logistics and transportation,
healthcare, finance, insurance, real estate all these require a robust
data science team that can leverage the data within their organization
to gain a competitive advantage. That is why, if you are looking for a
rewarding career with a substantial impact on any business
decision-making process, you should explore the data science career
path.
The demand for data science is vast, and employers are investing valuable time and money in Data Scientists. So using the right steps will lead to exponential growth.
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