Data Science has become a revolutionary technology that everyone seems to talk about. Hailed as the ‘sexiest job of the 21st century’, Data Science is a buzzword with very few people knowing about the technology in its true sense. While many people wish to become Data Scientists, it is essential to weigh the pros and cons of data science and give out a real picture. In this article, we will discuss these points in detail and provide you with the necessary insights about Data Science.
Introduction to Data Science
Data Science is the study of data. It is about extracting, analyzing, visualizing, managing and storing data to create insights. These insights help the companies to make powerful data-driven decisions. Data Science requires the usage of both unstructured and structured data. It is a multidisciplinary field that has its roots in statistics, math and computer science. It is one of the most highly sought after jobs due to the abundance of data science position and a lucrative pay-scale. So, this was brief to data science, now let’s explore the pros and cons of data science.
Pros and Cons of Data Science
The field of Data Science is massive and has its own fair share of advantages and limitations. So, here we will measure the pros and cons of Data Science. This article will help you to assess yourself and take the right course in the field of Data Science.
a. Advantages of Data Science
The various benefits of Data Science are as follows:
1. It’s in Demand
Data Science is greatly in demand. Prospective job seekers have numerous opportunities. It is the fastest growing job on Linkedin and is predicted to create 11.5 million jobs by 2026. This makes Data Science a highly employable job sector.
2. Abundance of Positions
There are very few people who have the required skill-set to become a complete Data Scientist. This makes Data Science less saturated as compared with other IT sectors. Therefore, Data Science is a vastly abundant field and has a lot of opportunities. The field of Data Science is high in demand but low in supply of Data Scientists.
3. A Highly Paid Career
Data Science is one of the most highly paid jobs. According to Glassdoor, Data Scientists make an average of $116,100 per year. This makes Data Science a highly lucrative career option.
4. Data Science is Versatile
There are numerous applications of Data Science. It is widely used in health-care, banking, consultancy services, and e-commerce industries. Data Science is a very versatile field. Therefore, you will have the opportunity to work in various fields.
5. Data Science Makes Data Better
Companies require skilled Data Scientists to process and analyze their data. They not only analyze the data but also improve its quality. Therefore, Data Science deals with enriching data and making it better for their company.
6. Data Scientists are Highly Prestigious
Data Scientists allow companies to make smarter business decisions. Companies rely on Data Scientists and use their expertise to provide better results to their clients. This gives Data Scientists an important position in the company.
7. No More Boring Tasks
Data Science has helped various industries to automate redundant tasks. Companies are using historical data to train machines in order to perform repetitive tasks. This has simplified the arduous jobs undertaken by humans before.
8. Data Science Makes Products Smarter
Data Science involves the usage of Machine Learning which has enabled industries to create better products tailored specifically for customer experiences. For example, Recommendation Systems used by e-commerce websites provide personalized insights to users based on their historical purchases. This has enabled computers to understand human-behavior and make data-driven decisions.
9. Data Science can Save Lives
Healthcare sector has been greatly improved because of Data Science. With the advent of machine learning, it has been made easier to detect early-stage tumors. Also, many other health-care industries are using Data Science to help their clients.
10. Data Science Can Make You A Better Person
Data Science will not only give you a great career but will also help you in personal growth. You will be able to have a problem-solving attitude. Since many Data Science roles bridge IT and Management, you will be able to enjoy the best of both worlds.
Some Job Titles Related to Data Science:
- Data Scientist
- Data Engineer
- Data Architect
- Big Data Engineer
- Business Analytics Specialist
- Data Visualization Developer
- Business Intelligence (BI) Engineer
- BI Solutions Architect
- BI Specialist
- Analytics Manager