A Data scientist is someone who enjoys working with mathematics, numbers, statistics, technical things, computer programming and logical problems. They find ways through which the data generated by organisations can be captured and analysed. In short, the algorithms that the data analysts use to analyse the data are created by the data scientists. The data science training course is one of the few that teaches these skills.
Data scientists help make the business of an organisation better and they also improve the supply chain management of a company. Their job is to collect and prep appropriate data, find any anomalies or trends in that data and develop the models specifically designed for that data set. To be at the top of this field, a data scientist must be a critical thinker, relatively fast at problem-solving, creative, enthusiastic about working in a team, good at managing coworkers, a quick and correct decision maker and of course have deep knowledge about technical concepts. These concepts can include deep learning, data mining, knowledge about various programming languages, natural language processing, machine learning, feature engineering and selection, data visualisation, data cleaning and so on.
What is the salary of a data scientist in India?
Usually, data scientists receive a salary higher than other professions in the field of computer science. The average salary package in India is around 10 lakhs per annum. The lowest a person in this profession can get is 4 lakhs per annum and this amount can go up to 26 lakhs per annum. This growth is based on experience. The more experience and skills the person has, the more amount they will take away home.
You can easily make 10 lakhs per annum with two to three years of experience at this job. Companies like Accenture, Amazon, IBM, fractal analysis, Capgemini, Microsoft, cognizant, Wipro, etc give more than 10 lakhs per annum of salary to their employees with more than 2 years of experience.
Now, the salaries of a data scientist can also change not only based on experience but also on the job location, skills and employers. The payscale of data scientists receding in metropolitan cities like Mumbai, Chennai, and Bangalore is more than that of small-town people. Prominent multinational companies also provide more average packages to people than other organisations.
And most importantly, the salary also ranges with skills. If you do have more skills and have deep knowledge and an appropriate degree. Then of course the organisation you want to work at will pay you more than the average salary in the market. A data science course in Noida will help you gain these skills and will make you more corporate-ready.
How can data scientists start making money?
There are just numerous ways to start making money as a data scientist. The list goes from being a freelancer to a full-time employee at a company.
To gain some experience before diving right into the IT world, you can first start looking for paid or unpaid internships. For students and new graduates to obtain hands-on experience in data science, several companies offer internship programmes. These internships, which frequently include a paycheck or stipend, can be a fantastic opportunity to make money while learning and obtaining real-world experience in the subject.
There are numerous businesses and organisations that need data scientists as their consultants because this profession makes people critical thinkers and better decision-makers. You can work as a consultant for companies or groups, sharing your data science knowledge. This can involve activities like assisting businesses in making data-driven actions, looking through data to find trends or patterns, and developing machine learning models.
One of the best ways to start making money right away is online. Online means starting righting blogs and imparting your knowledge of data science to people. You can begin a blog or write articles on data science topics if you enjoy writing and sharing your knowledge. You can commercialize your material by selling courses or services, accepting sponsorships, or using it as a tool to create your portfolio and demonstrate your competence.
Lastly, instead of being a full-time employee in a particular company, you can start by freelancing your work. You can work as a freelancer and provide clients with your data science expertise. Data analysis, data visualisation, and the creation of machine learning models can all fall under this category. On websites like Upwork, Fiverr, Freelancer, etc. you can locate freelance jobs.
But before starting to make money, acquiring skills is one of the most important things which can be done by taking a data scientist training in Delhi or any place of your choice.
How are data scientists helping the Indian economy?
India is a developing country. It has started opening and adapting to changes quite recently. Economic inequality is something that is a global level problem and India is not far away from it. Data scientists are helping the government become more empathetic to the cause of people. They help the government detect fraud by analysing big data sets. This helps boosts the productivity and economic conditions of the people.
The data scientist also plays a significant role in analysing how many children are dropping out of school and why are they dropping out. This in turn helps the government reduce the dropout rates. After all, education is one of the most important factors you need to become a developed country.
Data science plays a vital role in reducing corruption as well. Data science helped the government get hold of black money after they were able to analyse large data sets due to demonetisation. Data science also introduced us to online money transitions. This makes our money more secure, reduces theft and helps us keep track of our expenditures. Hence boosting the Indian economy.
Why are the salaries of data scientists so high?
Though the field of data science is new, its demand is increasing at an incredible rate. Every company in today’s day and age is looking for a data scientist to help them create customised models for their datasets. Due to the high demand for this job position, the competition to excel in this field is equally high and hence this is one of the reasons why data scientists are earning so much.
Moreover, data science is the reason most manual jobs are going extinct. Hence the younger population is running towards learning a skill which will be an asset to them in the future.
Data science is an ever-evolving field, with nice pay and a creative job role. Everyone should consider learning it because it is one of the most versatile job roles.