Data Science job trends - What do the statistics say?

The current job opportunities in the field of Data Sciences and Machine Learning are touching new heights every day. If one takes a glance at the job data of the last six years, practically every IT and related industry is continually on the quest for Data Scientists, Data Analysts, Machine Learning Engineers, Data Architects, and Statisticians. Truth be told, it's the highest favored occupation among the trending and most lucrative position profiles in India.

The rising demand for Data Scientists!

• The motivation behind why Data Science is in the top three global job rankings is a direct consequence of the Data-driven dynamic. If an industry is aiming towards maximum efficiency and productivity in the 21st century, it must utilize available data for its utmost potential benefit in the long run.
• Earlier not so much data was utilized and produced on a daily basis. Today, more than 2.5 quintillion bytes of data is created every day and it's only growing with time. Hence, tabulating and analyzing data using spreadsheets isn't feasible anymore.
• Today, anybody can approach and utilize information crunching apparatuses like Google Analytics Tableau, and Power Bi knowledge. Powerful languages like Python and R Programming forms the basis of Machine Learning and Data Science and hence are used to perform confounded analysis with a couple of lines of code.
• The advancement in Data Sciences has made it a cakewalk to analyze stock market trends, perform house price prediction analysis, or similar Big Data operations.

Let's have a look at a comprehensive study of job positions in the field of data science in India, 2021. These various work profiles and roles require strong logical and analytical comprehension and specific software skill sets. 

In India, there are more than a million open jobs vacancies (approximately 1,380,000) available for Data Analytics at present: 

• When contrasted with the report for June 2020, the data analytics job figure escalated by about 67.0% in June 2021, in the open job position requirements in this sector.
• There was an overall plunge in yearly open positions in the long stretches of June and July 2020 – 10.6% and 17.5%, individually. This constriction is because of the recessionary climate that was brought about by the disastrous pandemic.
• Notwithstanding, after June, the data analytics sector did start to make a comeback once India began the unlock procedure from June 2020 onwards. 
• What's absolutely amazing is that this year in June, India added to 9.4% of the worldwide data analytics employment opportunities, which is indeed a critical leap from 7.2% of global work opportunities in the sector since January last year.

What is the nature of the job?

Well, almost 97.0% of data analytics occupations promoted in India are full-time, which directly implies that the Indian data science employing industry is getting fortified day by day.  Only 3% of the positions are part-time, internships, temporary jobs, or legally binding i.e. contractual positions.  

• This year's trend follows a similar employability figure as witnessed in January 2020 and throughout the year 2019, when a surmised 97.5% full-time and 2.5% part-time occupations were available in the market.
• As far as urban communities and metropolitan cities are concerned, Bengaluru recorded the greatest extent of open positions in data analytics which is almost 28% of the total vacancies in data analytics available in India in June 2021. Delhi-NCR bagged the second position, adding close to 20% of job positions in Data Sciences.
• What’s more? In June 2021, A majority of jobs advertised in the Data Sciences sector-more than four in five such opportunities-were released by  MNC IT & KPO Service Providers such as Accenture, Capgemini, IBM India, Deloitte, Hewlett-Packard, Cognizant Technology, Eaton Technologies, and Dell International.

Top required designations in Data Sciences

• Analytics Specialist and Data Scientist 
• Positions in Statistical Modelling or Data Architect
• Decision Science Manager and Business Analyst 
• Analytics Manager and Statistical Analyst
• Marketing Research Analytics and Operations Analytics Manager

On top of this, the mean expected salary packages released by firms in India as of June 2021 is a whopping INR 9.7 Lakhs per annum. This is an improvement, as it's a slight increment from August 2020 when it was 9.5 lakhs per annum, and from January 2020 when it was 9.4 Lakhs per annum. 

Hence, we can conclude that the salary packages for jobs in Data Sciences are increasing on a yearly basis.

Due to the havoc created by the Covid-19 Pandemic, Data Sciences and Analytics sector saw certain depreciable changes such as occupation misfortunes and a log jam in the creation of job profiles.

The sped-up taking on of Data Sciences and Artificial Intelligence systems started following the first influx of the pandemic, and powered by the re-established business action of firms, prompted the employment of data analytic and statistical modeling experts. All these factors, as a result, fueled the upsweep in the opportunities created in Data Sciences.

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