Which are the top trending and highly paid jobs in India? Why would data science be a good career option for beginners?
From childhood, everyone would always fantasize about achieving their dream job, however challenging it may seem. But only some are fortuitous in getting a passionate job. Money plays a significant role in choosing one’s career path. The higher the salary, the more people are ambitious towards that job. One rejoicing factor is that career opportunities in India have grown drastically from the long-known two career choices (engineer and doctor). With new technologies being introduced regularly, it adds to new career opportunities in the near future.
Jobs are the only way for a common man to reach the top of the monetary ladder in his own effort. But securing a high pay job is not an effortless task. It needs deeper knowledge in the subject, higher qualifications from reputed institutions, and also the best communication skills. Salaries are always subjected to the individual’s knowledge, experience, expertise in the latest technology and training. In India, the highest paid jobs have changed in the last decade with advancements in technology, leading to new domains in the industries.
The lists of the top 10 highest paid jobs in India that can inspire future millionaires are:
- Management Professionals
- Investment Bankers
- Chartered Accountants
- Business Analyst
- Medical Professionals
- Commercial Pilots
- Law Professionals
- Data Scientists
- Marketing Professionals
- Software & IT Professional
The emerging and successful career in data science has proved its worth by earning a spot as one of the highest-paid jobs. It is the newest field which has made its impact in just a short time. Here, we will discuss everything needed to know about data science and whether it would make a good career path for the future.
Importance of data science
The last decade saw massive lumps of data being generated and retained by every organization. These data are being processed and analyzed by the latest cutting-edge technologies into actionable insight, which increases the business value of the enterprise. The outcome of this procedure has gained huge profits for business and is the new definition of success. Artificial Intelligence and Machine Learning is the primary base used in data science, which happens to be the promising future technology. With enormous data generated day by day, data scientists are the only ray of hope for business success.
The benefits data science adds to the business are:
- It empowers management and employees to make better decisions.
- It assists in directing actions based on trend, which in turn help to define goals.
- It challenges employees to adopt the best practices and focus on the issues that matter.
- It improves decision making with quantifiable, data-driven evidence.
- It helps in identifying opportunities and refining the target audience.
- It helps in recruiting the right talent for the organization.
The career perspective of data science:
With the world transforming into the digital era, data science is definitely here to stay. The complex technological assessments and decisions taken have proved to be fruitful in multiple ways. The fastest and emerging thing in the last decade was the data science career. It nearly pushed every company into the recruitment of data scientists. They analyzed and concluded with the precise business strategies developing the organization’s growth in all ways.
The main advantages of data scientists include mitigating the risk and fraud, delivering relevant products, and providing personalized customer experiences. Data science can predict the success or failure of any product before releasing it into the market. That’s the power of modern technology. With precise data-driven decisions, who wouldn’t want a career in Data Science? Data is the new water that runs in every industry requiring effective management and decision making. This is where data science steals the spotlight.
Learning Data Science:
Data science for beginners is quite tricky to learn, with the pressuring amount of tasks needed to be done in a brief amount of time. The demand for data scientists has rapidly increased, but the supply is short in the current scenario. Hence, learning data science is an added privilege to the qualification. There are free online courses and E-learning courses available on the internet. Many centers have started teaching data science and machine learning for job roles in data science.
Great Learning is one such center where data science courses are offered for the deserving price. The Great Learning online courses and Great Learning free courses can be taken before registering into the data science programs. So, learn data science in the possible ways to achieve the goal faster.
The future for Data Science
Data has been growing at an augmented rate since the onset of the digital age and has minimal chances of slowing down. This constant growth has paved the breeding platform for improved data science strategies and models. The applications of data science are seen in almost every industry that has served profitable to the company’s economy. Big Data is the foundation for any business in the near future, which ultimately requires data science for optimization. Needless to say, Artificial Intelligence (AI) and Machine Learning (ML) are leading the digital transformation in a lucrative way for every business.
Currently, data science has penetrated the fields of health care, retail, finance, transportation, construction, social media, communications, entertainment, education, the public sector (Government), and the manufacturing & outsourcing industries. The improvement has been clearly devised in every plan made with data-driven evidence. Data science has proved to be cost-effective and reliable, making it rise explosively rather than dropping down.
Some examples of current data science applications:
Banking is the largest sector that has to process massive amounts of data by the minute. Data Science has made banking convenient with its complex algorithms making smart decisions including fraud & risk identification, customer data management, real-time predictive analytics, Big Data analytics, and much more. The customers are notified of fraud detection with credit cards, insurance, and accounting. Banks can analyze investment patterns and suggest personalized offers to the customers suiting their demands. By data science, banks have increased their overall performance in all aspects.
The transportation sector has been evolving into the modern age with intelligent transportation services and automated traffic signals. The main objective of data science in transportation is to create a safe environment for drivers and pedestrians. The introduction of self-driving cars is an advanced version of data science tools with artificial intelligence and machine learning in the lead. However, it is in the development process. The major factors focused in this sector are the analysis of fuel consumption, driver behavior patterns, active vehicle monitoring, prevention of technical accidents, location awareness, and economic indicators. The GPS facility has proved useful in providing information like routes, weather patterns, distance measurement, and much more. Data science has made safe and efficient transportation possible in a maximum way.
Health care is one of the largest data collectors who require data science for efficient management primarily. Healthcare analytics has made easier maintenance of every patient’s health record. There are many advantages for data science in health care which includes the following:
- It can increase diagnostic accuracy and decrease mortality rates with innovative data science technologies.
- Making use of Electronic Health Record (HER) for digital storage of patients has made accessing the patient’s record easier and reliable.
- Managing medical images and analyzing them for future references can only be possible through digital storage devices.
- Creating effective Pharmaceutical Drugs in a shorter time than conventional methods, reducing casualties.
- By analyzing extensive data, it can recognize whether the prescribed medicine will be healthy to the patient without any lethal complications.
- By monitoring patient’s medical status, alerts can be triggered if anything goes abnormal, and doctors can virtually guide through in worst cases.
- Virtual assistance and health bots are developed with complex algorithms to mimic the human brain for optimized services.
Data Science is still in the formative stages of development, but its management has proved it a prerequisite to the digital world. The deliberate process of computing systematically helps in improving business decisions and the economy of many organizations. With advantages rolling up the sleeves, data science is the new definition of success. It is definitely here to stay, expanding its horizon, touching the sky. The precise insights and explicit business strategies prove to be an effective use for the company and also provide an enhanced experience to the customers.