Which is the best career option in today’s data-driven business world?
On 10th of August, 2017 the Governor of Alabama Mr Kay Ivey from the United States sanctioned a $1.8 million plan to improve the traffic safety. The plan is to use new digital tools and data collection efforts in order to stop a surge of traffic fatalities throughout the state. That’s a steep investment of around Rs. 18 lakhs which has been done for the sole purpose of utilizing data and reduce the traffic related issues & fatalities.
Even though this news is from a different continent, the importance of data is of crucial value across the globe. Especially in today’s business world in which the decisions are driven by data-oriented strategies. Over the last decade, there has been a massive explosion in terms of data, generated & retained both. It is often referred to as ‘Big Data’! It is essentially stacks of extremely large data sets which can be analyzed in order to find out patterns, trends, associations, etc. The main purpose of scrubbing such a massive amount of data is to figure out human behavior and interactions. But how can one acquire the skills to analyze data? The answer to that question is to pursue an MBA in data sciences and data analytics from a reputed college.
Pursuing a post-graduation in Data Science enables you to become a Data Scientist, which is one of the most attractive & lucrative career options in 21st century. We reside in a world where every little decision we make is driven by data. May it be picking which movie to see over the weekend or which shoes to buy. Our purchase behaviors are driven by the product ratings that are shown next to every product on every single e-commerce website. Modern businesses use the data they gain through people’s digital activities to improve & expedite the buying cycle. And it is a data scientist who analyzes the patterns which emerge from the data.
Data Scientists are extremely valuable assets for any company who deals with digital transactions or practices. There are several ways in which data scientists add value to an organization.
1. They improve the decision making capabilities of the company management
2. They lay the blueprint of organizational goals according to the trends
3. They help in identifying lucrative business opportunities
4. They promote the adoption of best & most effective practices which in turn enhance the business
The field of Business intelligence is expanding by leaps and bounds because it is an aggressive tool that helps companies in making smart & efficient decisions. In times like these, acquiring the necessary education & become a data scientist is very beneficial.