By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    Promising Benefits of Predictive Analytics in Asset Management
    11 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: The Data Science Market: Where We Are
Share
Notification Show More
Latest News
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
ai in omnichannel marketing
AI is Driving Huge Changes in Omnichannel Marketing
Artificial Intelligence
ai for small business tax planning
Maximize Tax Deductions as a Business Owner with AI
Artificial Intelligence
ai in marketing with 3D rendering
Marketers Use AI to Take Advantage of 3D Rendering
Artificial Intelligence
How Big Data Is Transforming the Maritime Industry
How Big Data Is Transforming the Maritime Industry
Big Data
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > The Data Science Market: Where We Are
AnalyticsBig Data

The Data Science Market: Where We Are

lburtch
Last updated: 2016/05/20 at 1:55 PM
lburtch
4 Min Read
SHARE

2016 marks the third consecutive year that Burtch Works has published The Burtch Works Study: Salaries of Data Scientists, about the “elusive kingpins of the Big Data movement”. The enthusiasm for data-driven strategy has continued to increase since our initial study in 2014, and readers of the report are likely well familiar with some of the effects this has had on the quantitative hiring market.

2016 marks the third consecutive year that Burtch Works has published The Burtch Works Study: Salaries of Data Scientists, about the “elusive kingpins of the Big Data movement”. The enthusiasm for data-driven strategy has continued to increase since our initial study in 2014, and readers of the report are likely well familiar with some of the effects this has had on the quantitative hiring market.

We’ve seen a number of interesting use cases for data science in an increasing variety of industries. Internet of Things industrial applications have emerged, which can involve using sensor data to develop predictive maintenance capabilities to anticipate equipment failure. In entertainment, casinos use real-time customer data to build and optimize their loyalty programs, and video game companies track player behavior to improve engagement as well as develop future offerings. In the behavioral health area, data science applications can be used to personalize medical treatment, coordinate prescriptions, and monitor for changes in behavior. And, of course, the ability to use data science to personalize advertising continues to offer copious benefits for marketing teams.

More Read

How Big Data Is Transforming the Maritime Industry

How Big Data Is Transforming the Maritime Industry

Predictive Analytics Helps New Dropshipping Businesses Thrive
Utilizing Data to Discover Shortcomings Within Your Business Model
Small Businesses Use Big Data to Offset Risk During Economic Uncertainty
The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas

One side effect, however, of this marked increase in data science use cases is the near-ubiquitous use of the “data scientist” title. The overwhelming popularity of the title and the newness of the discipline have resulted in the term appearing on a myriad of job descriptions, resumes, and LinkedIn profiles, whether or not the role or professional possesses the full range of data science skills. Examples of relevant skills might include implementing machine learning algorithms, wrangling unstructured data, or using tools like Hadoop, among others.

On the recruiting front, a constant refrain from clients has been the struggle to find data scientists who can balance their strong technical skills with the business acumen and domain knowledge needed to make an impact on business goals. The ability to glean information from massive datasets and then translate how those insights become actionable for the business has always been important, but is even more so now that leaders are looking to capitalize on the value of their data and demonstrate a return on their investment.

With all of the attention that data science has received, students have been flooding into the field. Degree and enrollment trends show increases in statistics, mathematics, computer science, and engineering graduates – all top educational backgrounds for data scientists – and students can’t wait to get to work, as evidenced by the increase in the percentage of professionals with Master’s degrees (as opposed to Ph.D.’s) at the entry-level (see the report for details). Additionally, there are many professionals looking to transition into the field from other career paths.

With some of the hype beginning to give way to a more “business as usual” attitude, these next few years will be a proving ground for newly forged data science teams, Master’s programs, bootcamps, startups, and for new and established data scientists.

Read the original post here.

lburtch May 20, 2016
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
ai in omnichannel marketing
AI is Driving Huge Changes in Omnichannel Marketing
Artificial Intelligence
ai for small business tax planning
Maximize Tax Deductions as a Business Owner with AI
Artificial Intelligence
ai in marketing with 3D rendering
Marketers Use AI to Take Advantage of 3D Rendering
Artificial Intelligence

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

How Big Data Is Transforming the Maritime Industry
Big Data

How Big Data Is Transforming the Maritime Industry

8 Min Read
predictive analytics in dropshipping
Predictive Analytics

Predictive Analytics Helps New Dropshipping Businesses Thrive

12 Min Read
utlizing big data for business model
Big Data

Utilizing Data to Discover Shortcomings Within Your Business Model

6 Min Read
big data use in small businesses
Big Data

Small Businesses Use Big Data to Offset Risk During Economic Uncertainty

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?