Benefits of Studying Data Science

July 13, 2023
Natalie Thorburn


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The evolution of technology has brought numerous jobs and employment opportunities into the picture that didn’t exist previously. This includes the lucrative field of data science. If you enjoy mathematics, manipulating data, extracting useful information from raw data then providing leading companies with a comprehensive analysis of what their next moves should be, then you’ll enjoy working in data science. This field is a complex combination of using the information to make intense data-driven decisions which is helpful for numerous sectors, especially those that rely on this data to plan. But what exactly is data science, and how does it benefit you? Here’s what you need to do:

What is Data Science?

Data science is an interdisciplinary field that combines scientific methods, algorithms, and statistics to make sense of unstructured data. Your primary job is to make unorganized information into coherent data that can provide valuable insights to consumers like large businesses. This is because running an enterprise today is much different than it used to be. Companies have minimal leeway to experiment and determine how to connect with their demographics.

Therefore, they rely on data-driven decisions to help them make specific and well-thought-out choices without incurring much financial loss. On an individual level, your skills help you work with all forms of data, so if you’re intrigued by this field, you should consider getting a bachelor of data science as it will walk you through the robust coursework and make you proficient in structuring data and retrieving analytical information from it.

What Skills Do You Need To Transform Yourself Into a Data Scientist?

Since your work is heavily centered around data and understanding the details in front of you, you must know how to work with data on that level. This includes designing data models, making forecasts, and using algorithms to predict outcomes if needed. In general, the following are the skills you need:

  1. Statistics

Statistics is an integral part of data science. It allows you to collect, interpret, organize, and present data which gives it structure. Statistics is a branch of mathematics that deals with data collection, organization, analysis, interpretation, and presentation. Furthermore, more advanced forms of statistics will teach you dimension reduction, probability distribution, and Bayesian statistics, which will help you with your job.

  1. Data Wrangling and Database Management.

Data wrangling and management involve the process of cleaning and organizing intricate data to enhance its accessibility and facilitate easier analysis. This skill allows you to identify trends and patterns in data values that catalyze data-driven decisions. Once you can extrapolate what the data tells you, the next step is categorizing your information into a proper database, making it easier to archive and study when needed. Ultimately, when you make numerous databases, you can set up a warehouse where all the information is pooled and stored. To do this, you must become an expert at tools such as Altair, talent, and trifecta. Similarly, to become an expert in creating databases, it is highly recommended you become familiar with MySQL and Oracle.

  1. Programming

Coding and software development also comes under the banner of data science. However, instead of writing codes, you need to know how programming languages like Python, SAS, R, and JavaScript work. These allow you to work with big data and AI to convert raw data into readable information. You’re also able to work with algorithms. Programming language can easily be self-taught; while some data science degrees offer you a minor in programming, you can opt to go for boot camps to study this skill and equip it with your understanding of data science.

What Are The Benefits of Data Science?

Data science is a highly progressive and futuristic career. As more data enters the picture, there is a greater need for experts to manage and organize this information into valuable details. Technology is also rapidly involved, and since data science works hand in hand with the latest developments in the tech industry, you will stay relevant in the employment sector for a long time. Here are some reasons why you should invest your time in studying data science:

  1. There’s a High Demand

According to the BLS, the employment rate of data scientists is expected to grow 36% from 2021 to 2031. Not only is this a massive growth, but it is also much faster than other occupations making it a highly sought-after field. It’s not easy for any career to gain this amount of traction quickly, yet with the way technology is booming, so is data science. Hence by allowing yourself to immerse into this area of expertise, you’re all set for the employment sector in the next ten years.

  1. High Earning Potential

Who doesn’t like making money? Investigating how much you’ll earn if you pursue a particular career and what stability your profession can provide you is not unusual. Luckily, data science ticks all the boxes. According to the BLS, data scientists can make as much as $100,000 annually. While this number is not set in stone, factors like the state you’re working in and the position you’re posted at influence your salary; even at a junior level, you’ll earn a hefty paycheck.

  1. Numerous Specializations

Opting for data science gives you enough legroom to experiment with various specializations. Depending on where you want to work and the career you want to build, you can become a data scientist, data engineer, data architect, and machine learning engineer. However, the range of subfields you can choose doesn’t end there. Suppose you have a knack for business and want to combine your data understanding with your industry expertise. In that case, you can become a business intelligence analyst, which is a sophisticated way of saying you’ll be responsible for helping businesses analyze data and use it to target their demographics.

Final Thoughts

Data science is here to stay for a long time. This is because the world around us is governed by data, and we need experts who can make sense of this information. Whether it’s healthcare, business, or retail, at the one-time, a copious amount of data is pouring into the system in the form of patient records, consumer preferences, and purchasing habits. Without your expertise as a data scientist, many of these details would stay untapped and unused, which is a significant blow to any industry and may drive them away from accomplishing essential milestones. Therefore, by going for data science, you allow yourself to study, explore and organize useful data into meaningful reports that can further benefit any sector, which on a broader scale, influences the economy.


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