As the world entered the era of big data, its storage needs also increased. This was the main challenge and concern for enterprise industries by recent years. The main motto was building solutions to store the data. Now when Hadoop and other frameworks have solved the problem of storage successfully with the help of HDFS (Hadoop Distributed File System), In this era our main focus has shifted to the processing and utilizing data in effective manner.
Major components of Data Science are:
Let’s Understand Projection of Data Science
This data is generated from different sources like transactional logs, web logs, audio & video, different sensors from different domains. Such data can’t be processed through any program. This huge volume and variety of data can be processed through machine learning.
A career in Data Science
According to a data scientist, Harvard Business Review, “There is a high-ranking professional with training and curiosity to search the world of Big Data”. Therefore, it is no surprise that data scientists are prestigious professionals in Big Data Analytics and IT industry. Experts estimate that 40 zettabytes of data will remain in existence until 2020 (source), data science career opportunities will only shoot through the roof! Due to the lack of skillful professionals in a world which is increasing rapidly towards data for decision-making, there is a huge demand for data scientists as well as well-established companies in the well-established companies.
Data scientific pay trends
A report from Glassdoor (a leading company) states that data scientists lead the pack for the best jobs in America. The report says that the average salary for the data scientist is $ 116,000 and there are over 1,736 job openings posted on the site (sources).
In India the trend is no different; as of February 2016, the median salary for a Data Scientist role is Rs. 1,213,413 according to Payscale.com. According to Honor.com, the average data scientist’s salary for job posting in the US is 113% more than the average salary for all job postings by February 2016 across the country.
WRITTEN BY: Prof. Amit Ganguli
Department of CSE
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