Industries for Data Science
Top Industries for Data Science Professionals
Companies around the world are storing more data than ever before in order to learn about their customers’ patterns and behaviors. From online sales to social media trends, there is a vast array of data that is available for companies to learn from.
With massive amounts of data comes a growing need to understand and utilize this information to better understand customer desires. Data science experts are needed in almost every field, from government security to hospitals, to social media platforms. Jobs in industries requiring data scientists are in high demand, and this trend will not be slowing down any time soon, if ever. Industries for data science offer top dollar for highly skilled employees. The average base pay for data scientists is $117,345, according to Glassdoor.
The Top 5 Industries for Data Science Professionals to Find a Job
Mind Commerce expects that data science will drive the telecom analytics market to grow at a compound annual growth rate of nearly 50% between 2014 and 2019. By the end of this year, this market will post $5.4 billion in annual revenue. Data from customer behaviors allows telecom enterprises to offer personalized services or products during the purchasing process. There are a wide variety of data science jobs in the telecommunications industry available at varying experience levels in Colorado.
Manufacturing may not seem like an industry for data science, but things are changing. Manufacturing is primarily a game of predictions. Predicting the correct supply and demand means the difference between too much or too little inventory, possible upset customers, and more. This is where a data scientist comes in.
Manufacturing that can analyze massive amounts of data to measure supply and demand help to create a steady revenue based on customer behavior. Using big data to track actual behavior gives the industry a much clearer picture of market trends and shifts. A quick job search on LinkedIn for manufacturing data scientists returns a number of openings in Colorado right now.
The opportunities for data scientists in the energy sector are endless. Data analysis helps discover new energy sources, cut costs and save money, avoid power outages, increase efficiency and productivity, analyze consumption patterns, and more. Industries for data science in energy can also expand beyond the traditional energy sector and can impact emerging markets overseas where the need for off-grid systems is changing the energy landscape. Government agencies and private businesses are both in the market for qualified data scientists in the energy sector.
As much as 30% of the entire world’s stored data is generated in the health care industry. Consider how much data a single patient generates in one year of imaging, electronic medical records, finances, health insurance, etc. The value of big data in health care is realized only when this raw information is converted into knowledge that changes practice. Health care data science jobs in Colorado are available all over the state.
Finance employs about 10% of data scientists currently working in the field. Security is a primary concern, and accurate consumer predictions are some of the first steps in preventing fraud. Behavior is an illuminating indicator of fraud because consumers are predictable, and understanding that behavior improves security. There are currently nearly 100 job openings in Colorado for data science jobs in finance.
Highly Sought-After Skills in Industries for Data Science
R and Python are both open-source programming languages with a large community of users. New libraries or tools are added continuously to their respective catalogs. R is used mainly for statistical analysis, while Python provides a more general approach to data science.
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