KEY DATA SCIENTIST SKILLS TO SHOWCASE IN 2024

KEY SKILLS TO SHOWCASE IN 2024

The year 2024 is a year of astounding growth in data. The year is filled with data emergence and giant corporates coming forth yielding big business numbers. The US Bureau of Labor Statistics estimates an employment surge rate of 36% through 2031 for qualified data scientists. The future is the greatest opportunity of all, to make it happen in the data science industry.

Qualifying for a rewarding career opportunity in data science calls for an informed move. Understand the industry well before you take a deep dive into the data science waters. Asking for assistance is the first thing that can help you chalk out a great career trajectory. Begin with the industry leaders and globally-trusted data science certifications providers allowing you enough space to equip yourself with the best of the skills.

Talking of the popular skills, the list goes endless. But, topping the charts could be a handful of them, which are deemed essential for you to master for 2024. They are a surefire skillset that can foster your data scientist career manifold. Let us dig deep:

1. ADVANCED MACHINE LEARNING TECHNIQUES Make the most of the generative adversarial networks, transformers, reinforcement learning, and deep learning; by enabling crucial resolutions.

2. AI ETHICS AND BIAS MITIGATION Ethics in AI is going to be the big game changer while levelling the playfield in a variety of domains. Your familiarity with bias detection and mitigation techniques shall ensure fairness and accountability in your business problems.

3. INTERDISCIPLINARY COMPETENCE Qualified data scientists are deemed essential to collaborate with domain experts across diverse fields of work. Possessing a great understanding of the domain shall levy huge capability to extract meaningful business insights.

4. ADVANCED DATA VISUALIZATION Visualizing data is an art, that is performed only by skillful data scientists. A core understanding of interactive visualization libraries and tools shall enable the creation of dynamic and informative visualizations.

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5. NATURAL LANGUAGE PROCESSING NLP is sure to showcase an upward-rising trend with conversational AI and language understanding applications becoming commonplace. Expertise in handling text data, sentiment analysis, text generation, and language models such as GPT-3 will be highly beneficial.

6. BIG DATA TECHNOLOGIES As the data volumes spark, the capabilities of data scientists need to rise in an equal proportion. Making use of Apache Spark and Hadoop shall gain strength in large dataset analysis.

7. CLOUD COMPUTING Familiarity with AWS, Azure, and Google Cloud will be commonly beneficial for scalable and cost-effective data storage and data processing.

8. TIME SERIES ANALYSIS This is a clear win when talking about the increasing importance of analyzing time-dependent data in diversified industries.

9. AUTOMATED MACHINE LEARNING AutoML tools and platforms are becoming commonplace in assisting data scientists with easy streamlining of model selection and hyperparameter tuning procedures; as it enhances productivity.

10. DATA PRIVACY AND SECURITY Master the sheer skill with the knowledge of data anonymization, encryption, and secure data handling practices.

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11. COLLABORATION AND COMMUNICATION SKILLS A strong ability to work in a group and collaborate across teams while communicating complex concepts to non-technical teams and stakeholders is one of the top-notch requisites to becoming a great data scientist.

12. CONTINUOUS LEARNING As data science is well-renowned for being an ever-evolving industry; it is obvious to expect the same from data scientists as well. Timely upgrades, regular upskilling, and a learner’s attitude shall take you a long way in earning well in this thriving industry.

13. DATA INTUITION Being a problem-solver is the foremost quality any data industry recruiter is looking f or. This is where the sheer skill of data intuition comes into play. Being questioned for making a certain decision shall call for a well-informed data science professional.

14. DATA WRANGLING You as a skilled data scientist is expected to drive business growth by mapping and transforming data from raw data available in a variety of format. It is expected of you to untangle the inconsistent string of data by efficient formatting; thereby making sense of it all eventually.

15. SOFTWARE ENGINEERING Possessing a great software engineering background enables you to handle data logging and potentially developing data-driven products.

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DATA SCIENCE INDUSTRY GROWTH 2024 AND BEYOND. Market Size Outlook (USD Billion) Source: Technavio.com

2017

2018

2019

2020

2021

2022

2023

2024

2025

2027

2026

2017: USD 247.21

11.58%

12.73%

Year-over-Year growth rate of 2023

CAGR 2022-2027

Accelerating

Growth Momentum

2022

2027

-USD 329.82 Bn

Market size Growth

The rise in the adoption of multi-cloud and network upgrades to support 5G is notably driving the market growth.

DATA SCIENCE PLATFORM MARKET

Market Size will Accelerate at a

CAGR (2021-2030)

25.4%

Market Size 2021 $92.4 Billion 2030 $708.8 Billion

North America held Largest Market share of

>35%

Source: Psmarketresearch.com

Growth Drivers •Increasing focus on Data-Intensive business strategies •Rising usage of Cloud-based Solutions and Services Looking closer at the growth drivers and astounding numbers the data science industry is deemed to serve in the future, it is highly advisable to bring on the rage with the most in-demand skillsets on offer as a skilled data science professional. ©2023. United States Data Science Institute (USDSI®). All Rights Reserved

CAREER OUTLOOK FOR DATA SCIENTIST IN 2024.

DIGITAL JOB GROWTH FROM 2020 TO 2025

190M

Source: LinkedIn.com

Job capacity

127M

149M

90M

41M

2020

51M

2021

New Jobs by 2025

66M

2022

2023

2024

1M

Privacy and trust

6M

Cyber Security

20M

Data analysis, machine learning and AI

23M

Cloud and data roles

98M

Software development

2025

As the world grows digitally stronger, it is a big opportunity to garner strength in your digital skills. Data science is among the top 3 scorers when it comes to future career progressions.

Machine Learning Statistician Engineer

$108,807

Data Engineer

$84,692

$128,631

Data Analyst

$86,960

$70,683

Data Scientist

$150,186

$1,24,693

Annual Salary

DATA SCIENTIST SALARY VS OTHER SIMILAR PROFESSIONS SALARY

Reaserch Scientist

Software Engineer

Other similar Professions Source: kanan.co The salary that you make of your career marks a special place in your decision to select a career stream. Data Science offers a fulfilling experience on the monetary front as well. The above representation is a clear indication of the high demand experienced by skilled data science professionals and the annual salaries drawn in 2023. ©2023. United States Data Science Institute (USDSI®). All Rights Reserved

WHY INVEST IN A DATA SCIENCE CAREER NOW? As discussed, with larger-than-life career progressions and a handsome salary to take home, who would not want to build a thriving career in this lucrative field of work? Also, when earning the above-listed popular data scientist skills has been made a cakewalk by renowned global certification providers.

Enough said about the industry growth and what it takes. The time is right to earn that credible data science certification or a degree or an equivalent credential to make your dream career a reality. With the finest and the most trusted names in the data science certification industry worldwide, you are off to a great start to your data science career.

FINAL WORD No doubt, a bright future awaits you with the top-notch data scientist skills at your disposal. Make the most of the certifications and career opportunities now to avail big bucks in the years to follow. Begin with the best in the industry today!

©2023. United States Data Science Institute (USDSI®). All Rights Reserved

©2023. United States Data Science Institute (USDSI®). All Rights Reserved