Data Science Career Overview – Salary, Growth & Outlook

There’s no doubt that scientific developments are changing our planet at a rapid pace. Innovation has been the twist in our climate change story and computer technology continues to transform the business world. With the growth of big data, data science has become one of the most in-demand careers in the world today. If you’re considering this option, you’ll want all the information you need to make an informed decision. In this article, we’ll provide an overview of what a career in data science entails, including salary, growth and outlook.

Data Science And The Work Of Data Scientists

Data science is an interdisciplinary field that harnesses scientific processes, methods, systems and algorithms. Its purpose is to extract knowledge and insights from data in various forms, whether it’s structured or unstructured. Data scientists are being more sought out than ever as organizations are increasingly realizing the importance of data-driven decision-making.

Data scientists could be working on anything from developing new machine learning models to analyzing big data sets – or finding ways to improve a company’s customer retention rate. The possibilities are endless – which is one of the things that makes data science such an exciting field to be in.

Getting Educated

If you’re thinking of a career in data science, you’ll need to have strong math skills and be comfortable with coding languages like Python and R. You’ll additionally need to be able to think creatively and resolve problems. Part of your job will be finding ways to extract insights from data that others haven’t been able to see before. 

University Qualifications

A data scientist typically has a strong educational background, with most having completed a Masters or Ph.D. in subjects like mathematics, statistics or computer science. There are now data science programs offered at many universities around the world. It’s also possible to gain a master of business analytics by studying online, and these universities enable you to download course guides. You can view the learning outcomes, upcoming study periods, entry requirements and career outlooks before deciding. 

Other Ways To Progress

If you have the right mix of skills and experience, it may be possible to enter the field without an advanced degree. You could also study online courses offered by companies like Coursera and Udacity, or complete a BootCamp like those offered by General Assembly or Metis. If you’re already working in a related field such as marketing or business intelligence, it may be possible to transition into a data science role without starting from scratch.

Possible Careers And Salaries

Once you’ve gained a qualification or got your foot in the door, there should be plenty of opportunities for career growth. Here is a list of some possible roles and their salaries:

Data Analysts

A data analyst is responsible for collecting, cleaning and organizing data, and using their analytical and statistical skills to help solve problems. Data analysts usually have a bachelor’s degree in mathematics, statistics or computer science. Businesses then use their information to help them refine their company strategies. The average salary for a data analyst in Australia is 86,600 AUD per year.

Big Data Engineers

A big data engineer is responsible for managing an organization’s big data infrastructure. They design, build and maintain the systems that are used to store and process large amounts of data. Big data engineers usually have a bachelor’s degree in computer science or a related field. The average salary for a big data engineer in Australia is $100,186 per year.

Machine Learning Engineers

A machine learning engineer is responsible for developing and applying algorithms that enable computers to learn from data. They usually have a background in computer science or a related field such as artificial intelligence. The average salary for a machine learning engineer in Australia is $112,938 per year.

Business Intelligence Analyst

A business intelligence analyst is responsible for helping businesses make data-driven decisions. They do this by analyzing data and then presenting their findings in a way that’s easy to understand. Business intelligence analysts usually have a bachelor’s degree in computer science, business or a related field. The average salary for a business intelligence analyst in Australia is $89,168 per year.

Database Administrators

A database administrator is responsible for the performance, security and availability of databases. They usually have a bachelor’s degree in computer science or a related field. The average salary for a database administrator in Australia is 94,100 AUD per year.

Additional Reasons To Pursue This As A Career

Here are two more tempting factors for you to consider:

One of the most appealing aspects of data science is the potential for high earnings. Data scientists are often among the highest-paid workers in the tech industry. In addition to a high salary, many data scientists also receive generous stock options and other benefits.

Another reason to pursue data science as a career is the opportunity to have a major impact on organizations and society. Data scientists are using their skills to solve some of the world’s most pressing problems, such as climate change, healthcare, and education.

Career Growth And Outlook

The job outlook for data scientists is extremely positive. The United States Bureau of Labor Statistics predicts that employment in this field will grow faster than for any other occupation. There are a number of reasons why this is believable. First, there is an increasing demand for people who can analyze large data sets and help organizations make more profitable decisions. Second, as more and more companies collect data, they need employees who can help them make sense of it all.

Having had a brief overview of this subject, we’ve now seen compelling reasons why this can be a great career path. You’d need to be suitably motivated and skilled, and prepared to learn. By gaining a university qualification it can place you ahead of others when it comes to competition and promotion. In turn, you’ll have the satisfaction of making a difference in the world, and using your abilities in a varied and challenging way.


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