Career as a Data Scientist – The Hottest Buzz in the Job Market UK Who are data scientists? Simply put, they are the technology professionals who filter and sort through the minefields of data and analyze it to extract important information. According to technology experts, data science is the new emerging trend of the competitive intelligence that embraces a large number of activities such as data mining and data analysis in order to help business get an edge over their competition in the market. In the words of Ken Garrison, CEO of the industry group SCIP (Strategic and Competitive Intelligence Professionals), “The field involves collecting data, analyzing it and delivering the data as intelligence that is actionable."
The job market demand of the role of ‘data scientist’ throughout the UK It is a market with around $2 billion turnover a year and the job opportunity for data scientists will increase exponentially in the coming years, added Garrison. According to the McKinsey Global Institute, there is actually a dearth of around 190,000 qualified workers who can analyze the existing set of data available out there for many different industries including retail and technology. And by 2018, there will be a need of more than 1.5 million data scientist professionals with the real potential to make the most of the information available.
Data Scientist Jobs Demand Trend Chart
[Source: IT Jobs Watch UK]
The above chart shows off the 3 month moving total of permanent jobs labeled as data scientist in the IT category within the UK.
Data Scientist Salary Trend
[Source: IT Jobs Watch UK] The above chart showcases the 3 month moving average of the salaries for the jobs citing data scientist within the UK.
Why there is a high demand for Data Scientists In a study conducted by the University of California Berkley in the year 2003, a fact was revealed that the information available all across the world has increased by 30% from 1999 through to 2002. Moreover, Eric Schmidt, CEO of Google, said at the technology summit of 2010 that in the present age people are generating as much data in just two days as was earlier produced in all years up to 2003. And thus, it is the massive quantity of data that has made companies and organizations search for data scientists who have the right skills to identify the valuable information and filter out the rest. According to the Harvard Business Review, data Scientist is hottest job of the 21st century. Mike Loukides, Vice President of Content Strategy for O'Reilly Media, says "The question facing every company today, every startup, every non-profit, every project site that wants to attract a community, is how to use data effectivelyâ€? The sprouting field of data mining and data analysis, or the arena of data scientists, is a never-ending quest to forecast the future by leveraging the power of information in the form of data available online. Bristol is amongst the top 26 locations of the highest number of data scientist jobs within the UK, says the October 2013 report from It Job Watch.
So, if you are a young professional planning to kick start your career or an IT professional in search of a next career milestone, contact a nearby and reputable employment agency Bristol today.