Data explosion in the last couple of years has made, big data, the most valuable resource for businesses located across the globe. Leveraging data, corporations have been able to predict the future market circumstances, and have registered more growth than ever before. Speaking analogically, data acts as ‘oil’ to prevent the ‘flames’ from going out.
Today, data analytics is being incorporated in every industry known to mankind to drive the business growth, and soar the revenues. The worldwide value of big data & business analytics market has been forecasted to grow from $168.8 billion in 2018 to $274.3 billion by 2022, thereby registering a five-year CAGR (compound annual growth rate) of 13.2%.
An abundance of Opportunities to Shape a Rewarding Big Data Career
The continuous expansion in the horizons of big data analytics industry is giving hope to millions of young grads to make a rewarding career in data science. And why not? Data analytics is one such industry domain that is offering the most lucrative job offers to skilled individuals across the globe.
However, acquiring data science skills is not easy. One needs to work really hard to attain a number of skills that come into play, while you work as a data analyst in the entry-level position in the said industry. Coding skills, familiarity with working on data visualization tools, knowledge of the advanced concepts of statistics, and technical prowess to analyze data, all come into consideration when you think of becoming a data science professional in the first place.
However, the good news is that there exists a dearth of data analytics professionals all across the world. They are in high demand, and there exists a very few of them in number. This imbalance in the demand and supply for data science professionals has resulted in a trend, wherein data professionals ask for big fat paychecks, and rightly so.
Skill-Demand in 2020 in the Data Analytics Sector
There are multiple skills that are in high demand in 2020, and will continue to do so, in the next few years, too.
These comprise
- Quantitative analysis
- Programming languages
- AI and machine learning
- Data mining
- Data visualization
- Databases and data structures
- Algorithms
If you lack any of the essential skills listed above, no need to worry, enroll in a skill-specific data analyst certification program online, and get yourself trained while being in the comfort of your home.
What’s the Scenario Around Job Opportunities?
As per a 2019 Indeed report, the demand for data science professionals has risen by 344% since 2013, and a 29% YOY increase had been witnessed during the same period.
Other job portals do conform to these numbers, and state that it is not just the technology firms that are hiring data analysts, engineers, and scientists, but a gamut of business verticals are equally interested in hiring data professionals.
How Governments Worldwide Can Help Nurture Data Talent?
Incorporate ‘Basic Data Analytics Learning Programs’ in School Curriculums
‘Basic data literacy’ programs must be introduced by educational institutes, while the students enter junior high school. It will help develop them into skilled data professionals by the time they finish their graduation. Job-readiness is critical.
Colleges Need to Introduce Data Science Specific Degree Programs
Colleges and universities, across the globe, should recognize that data analytics is the subject discipline that will allow students to bag lucrative job offers post-graduation.
And hence, a dire need for the introduction of data science-specific courses and degree programs has emerged. More such courses mean better employment opportunities for students, right after they complete their education.