The year 2020 has been tumultuous for many industries, yet data science experienced significant demand and growth, with tremendous growth in data science jobs and data science scope in India. Also, the amount of data produced by people is drastically growing by improving internet facilities and foreseeing 5g in future this will take an exponential rise of data produced!
Data has become a crucial asset for organizations. From healthcare to manufacturing, retail, & finance, every sector has started to identify the need for data-driven business decisions & operations as decisions require the inputs based on data gathered, the demand for data science and significant roles spikes as well! Well, India has been an essential marketplace for data science & analytics products for many years now!
The opening for Data Science professionals in India is getting more void as technological adoption increases. Remarkably, companies are also willing to pay high salaries for candidates being talented enough! Job opportunities and salaries in data science have boomed in India, as the pandemic-driven digital transformation boosts demand for high-end skills. Well, we have got an idea and are well versed with such tremendous demand for data science in India, so now let’s discuss which are the most common data science job roles in India!
While Data Scientist is the hottest job of the 21st century, in recent years, job roles like data architect, data analyst are gaining more traction indirectly contributing to great data science job opportunities. Let’s have a quick overview of the most common job roles for data science, especially in India:
1. Business Analyst / Data Analyst
Both business analytics and data analytics involve working with and manipulating data, extracting insights from data, and using that information to enhance business performance.
The key difference between Business Analysts and Data Analysts is that DAs work with large datasets has a quantitative background, experience with programming and analytics while BAs work more on the business end, gathering and analysing data, understanding project scope and requirements to make effective decisions.
2. Data Scientist
Data scientists are big data wranglers, gathering and analyzing large sets of structured and unstructured data. A data scientist’s role combines computer science, statistics, and mathematics. They analyze, process, and model data then interpret the results to create actionable plans for companies and other organizations. Here are the average salaries of all job roles related to data science,
More generally, a data scientist is someone who knows how to extract meaning from and interpret data, which requires both tools and methods from statistics and machine learning, This process requires persistence, statistics, and software engineering skills—skills that are also necessary for understanding biases in the data, and for debugging logging output from code, followed by find patterns, build models, and algorithms—some with the intention of understanding product usage and the overall health of the product.
3. Machine Learning Engineer
Machine learning engineers are very on-demand today. They feed data into models defined by data scientists. They’re also responsible for taking theoretical data science models and helping scale them out to production-level models that can handle terabytes of real-time data.
To perform their job properly, machine learning engineers need to have strong statistics and programming skills in addition to some knowledge of the fundamentals of software engineering.
4. Data Engineer
Data engineers are responsible for finding trends in data sets and developing algorithms to help make raw data more useful to the enterprise. They are responsible for designing, building, and maintaining data pipelines. They need to test ecosystems for the businesses and prepare them for data scientists to run their algorithms.
5. Data Storyteller
This is probably the newest job role on this list and, probably the most significant and creative one. Often, data storytelling is confused with data visualization.
Although they do share some commonalities, there is a distinct difference between them. Data storytelling is not just about visualizing the data and making reports and stats; rather, it is about finding the narrative that best describes the data and using it to express it. Isn’t it amazing!
Well, these are some roles that are trending and companies are having lots of recruitment opportunities for these respective roles. Now apart from knowing the majority and trending job roles, it's also important to know which sector the demand is growing across India! Presently, business intelligence companies have the highest number of job openings for data analysts, followed by finance, sharing economy services, healthcare, and entertainment companies.
So as per our research, these were the outcomes that we extracted regarding the top industries which will drive data science jobs and companies in India associated with those domains.
1. BFSI (Banking, Financial Services & Insurance)
An increased number of use cases in the Banking, Financial Services, and Insurance (BFSI) sector has led to a massive increase in data to be analyzed. This domain has mainly been integrating data science in all decision-making processes based on actionable insights from customer data. This includes a variety of tasks that need to be executed such as dealing with most importantly Fraud detection, Risk modelling, Customer segmentation and many more!
Here the top companies recruiting in India for this domain are JPMorgan Chase, which have active hiring throughout the year, secondly HDFC, Citi Group, ICICI Group, and many more.
2. Healthcare
The healthcare industry has surprisingly emerged as the top creator of data science jobs in recent years and will be holding this trend in future as well! In the healthcare industry where most data are raw and unstructured, it's not easy to access, analyze and interpret all the data. Hospitals and healthcare centres need skilled data domain experts who can assemble this data and extract insights out of it.
Also, Data science has contributed to designing and evaluating healthcare strategies that improve equity, opportunity, access, and health services quality. Well, these are some domains in which the research is established and indirectly the jobs of the future, which are Diagnosis of diseases, Delivering more precise prescriptions, customized services considering health factors curated for individuals, Hospital operations and many more. While the companies which are top hiring in the healthcare domain are Medlife, Sanofi, Piramal, etc.
3. E-commerce
Data science has found an important place in the e-commerce and retail industry. Applications of data science include predicting the purchases, profits, losses and even nudging customers into buying additional products on the basis of their behaviour. Organizations also use purchase data to create psychological portraits of a customer to market products to them and use it to drive customer loyalty and thereby more revenues.
There are a lot of companies that hire candidates for eCommerce projects such as Amazon, Fractal Analytics, Deloitte, and many more!
4. Media & Entertainment
India is a huge market and this new face of digital reality aims toward matching the personal preferences of the users and is evoked in the concept of addressability, along with the ability to interact with consumers as per their choices. So, where everything is dependent on precious data, the media and entertainment industry seeks data experts such as data analysts, data scientists, etc. who can collect, process, analyze, store, and provide recommendations, and make a desirable impact on the business.
Data science applications in this industry include Customer sentiment analysis, Real-time market analytics, Optimized Media Scheduling, Predictive Modelling for Targeted Content Generation, etc., while the companies hiring are Hindustan Media, Viacom, BuzzFeed, and many more.
To get more Opportunities related to Data Science Jobs must watch the Video on YouTube:
Well, India is among the countries where technological innovation is being prioritized by businesses. Companies are looking forward to leveraging the best available technology. Data is one of the few functions, which has reaped the benefits of advancement. With digitalization on the go, the management of data has also taken a different turn. This trend has directly contributed to improving the analytics market in India over the past few years and will be in the future.
Conclusion
This was all from our side and with the Digital transformations happening and Data transcending the possibilities of business growth on a massive scale in India, Data Science will play a pivotal role in helping organizations to achieve newer heights and creating new jobs in the future in data science! Thanks for reading our blog, and stay tuned with Board-Infinity for more such amazing blogs.
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