What is data science?
An Era of Explosion of data…
Data is increasingly cheap and ubiquitous. We are now digitizing analog content that was created over centuries and collecting myriad new types of data from web logs, mobile devices, sensors, instruments, and transactions. IBM estimates that 90 percent of the data in the world today has been created in the past two years. At the same time, new technologies are emerging to organize and make sense of this avalanche of data. We can now identify patterns and regularities in data of all sorts of data both structured and unstructured.
Data Scientists are Big data wranglers. They take an enormous mass of messy data points and use their formidable skill in math, statistics and programming to clean , massage and organize them. Then they apply all their analytic powers and domain knowledge to uncover hidden solutions to business challenges.
A data scientist is someone who is better at statistics than any software engineer and better at software engineering than any statistician . This is further complemented by his domain knowledge and business understanding.
Challenges of Hiring Data Scientists?
Data Scientist: Sexiest Job of the 21st Century….
Virtually every sector of the economy now has access to more data than would have been imaginable even a decade ago. Businesses today are accumulating new data at a rate that exceeds their capacity to extract value from it. The field of data science is emerging at the intersection of the fields of social science and statistics, information and computer science, and design.
Rare Expertise, Growing popularity: Understand the Market
The biggest reason it’s so hard to find data scientists is simple supply and demand. A candidate with expertise across mathematics, code, and business is difficult to find, the demand is sky high resulting in a massive shortage of potential talent and mismatch of expectations related to compensation between a potential employer and a candidate.
High Attrition: Attract and Retain the Right Talent
Outside of typical concerns like salary, vacation, and benefits, the thing that data scientists care about the most is what they’ll actually be working on.
- Interesting and diverse data
- Tough problems that no one else has solved
- Mentorship with established data scientists
- The overall impact of their work
- Why this is a rare opportunity?