Data Science is not changing the world, it is defining the world.

 

The world is changing, and moving rapidly towards digitization. It is not difficult to compare today’s world with the one that was 10 years ago. There has been a huge leap and the development has been exponential. In this fast-track world, one thing that has been consistent is the upgrade in technology. Every passing day, we are seeing brilliant minds, trying to challenge the present to accomplish the impossible. Have we ever wondered how is it possible to challenge an existing theory/technology with absolute confidence?

 

The answer to that is data. The world has generated an enormous amount of data. So much data is lying around that it would take 100 years to analyze, and by then we would have already created 100 more years of fresh data. In this blog, without using complex words, we would be explaining the possibilities that will unlock as we move into 2021. 

Why specifically data science is going to create a boom in the job market?

The year 2020, the year of the global pandemic. Needless to say, this has not been one of our most successful years. While some people have rejuvenated themselves, some have passed through many difficulties. However, as we march towards 2021, we are certainly not unprepared. We now understand the repercussions, we are now a little more certain, a little more courageous. It is fair to say that there is going to be a bit of a data analyst among all of us, who took information from 2020 and then are going to stay alert in 2021. Data Science has taken over most of the jobs in the market currently. This is because it is not only fun but also provides meaning to most of the occurrences in the world. With the advancement of Artificial Intelligence and Machine Learning, even the impossible looks pretty easy. Sudheer Nair, CEO of ThoughtSpot says, “The basic data skills will start to disappear from the resumes and will be gone by 2030”. We couldn’t agree more as data understanding, cleaning, formatting and basic analyzing skills are considered to be a prerequisite skill now. There are various industries that require data science skills for the betterment of their businesses. 

Demand of data analysts in finance: 

2021 is going to be the year of profit. After a huge setback, companies would definitely want to recover from their losses. They need smart minds, who can analyze past data and provide insights about the correct place to invest their money in. Smart minds right now are more interested to know the reason behind the rise and fall of share markets rather than just watching it on the headlines. The day to day reason, the weekly difference, the monthly rise and fall trends are going to help data scientists/analysts make the best deal for their organization. With their help, organizations would be buying shares and then making a profitable deal for themselves. 

Supply Chain Systems are going to grow exponentially:

Due to this pandemic, people are not only volunteering to get tested but also pledging to make the vaccine available for everyone. People want to extend their support in improving the supply chain systems so that the much-awaited vaccine reaches the needy people. They have already started to see this year as the year of hope. With the increased efficiency of artificial intelligence and machine learning, many tasks could be automated to reduce human interaction and save more time. Gartner forecasts that 75% of enterprises will shift from the initial phase of AI to its optimum operation by the end of 2024, which would be a 5 times increase in streaming data and analytics infrastructures. 

A giant leap in the world of social media:

Data Science is going to change the way people used to view social media. Every day, there are data scientists and analysts, who are trying to make social media a healthy and authentic place for everyone. As much as people were intimidated about a lot of unauthentic news, they also wanted to be responsible towards people they cared about. Social Media Analytics is going to ensure that sensitive information is something that should be properly checked. By using artificial intelligence and machine learning it can be made sure that only authentic information stays.

Creating data insights and understanding data are two different things:

A lot of people are confused with the job of creating insights from data and understanding data by visualizing it. There are going to be numerous job openings for individuals who could tell a story just by looking at the trends shown by the charts. And these stories are more precisely known as reasons for business development. It would be correct to title them as Business Analysts and at each step of the business, they will analyze the daily, weekly, monthly, quarterly and yearly numbers to keep the business running. Many organizations would create demands for Power BI and Tableau, which are some of the data visualization tools. 

Cloud is going to be the new space:

Many organizations are going to take this extreme yet most advanced step of going online, which means most of the data is going to be on the cloud. The enhancement in security systems and the database administration has led companies to believe in the credibility of working on cloud-based platforms. This not only saves time but also makes it accessible from anywhere in the world. 

Demand for relevant skills:

Needless to say, with the increase in technology, there is going to be a spike in the demand for data scientists and analysts. Many organizations are going to require people with relevant skills to be a business analyst in order to get things done. For that, it is also necessary for the aspirants to have a degree/certification to showcase the skills and get into their dream companies. In order to become a good data analyst/data scientist/business analyst, one not only needs to start preparing right now but also researching the requirements that are going to be essential for sustaining in the industry. 

 

At Ivy Professional School, we are not only aiming towards shaping a bright future for data science enthusiasts, we are looking for overall progress altogether. We believe in the potential of our students whose only dream is to dream big. Ivy Professional School which is among the top 10 institutes for data science and analytics, has faculties who are industry experts and have 10+ years of industry experience. They focus on specific learning experiences that all the large organizations are looking for in their prospective data science/analytics candidates. If you are such an enthusiast who likes to make a difference,  here’s your chance to get a kick start from this new year. Get in touch with our amazing team and we will be right with you for your help. We have a range of things to offer from certifications on tools to languages and reporting. Based on the student’s profile and the career that one is looking to pursue one can choose for themselves. 

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