Demand Grows for Data Science and Analytics Executives

Unlock Data

Data Scientists and Analytics Managers are in high demand because exploring data in a meaningful way is the key to unlocking and understanding the issues facing an organization.

These specialists need the skills to organize, interpret, structure and present data as useful information and provide crucial context about missed opportunities and failures within a business.

This has been crucial for companies facing uncertainty and economic pressures during the pandemic, with many looking for specialists who can unlock data to understand where the opportunities lie. For them, hiring these skills made the difference between success and failure.

Acquire the skills

A career in this field is best suited for a naturally curious individual who can apply algorithms and analytical techniques to explore and interpret patterns in data to then identify solutions and communicate the results to a range of stakeholders. keys with recommendations.

The average data scientist salary is around $120,000 per year. iStock

With strong technical skills and confidence in a range of software, these specialists often have strong mathematical abilities and great communication skills.

According to Indeed, data scientists should be familiar with computer science, statistics, advanced math, machine learning, and database management.

Data scientists and executive analysts are employed in a variety of fields, including retail, finance, IT, government, and healthcare.

make the change

As the cost of living rises, many Australians are looking for careers that pay better than their current salary. The pandemic is causing a cooling off period, which means Australians are racing towards management degrees in data science and analytics.

RMIT University’s Master of Data Science was launched in 2017, marking one of the first data science-specific degrees in Australia. The university’s cohort of data science students has grown steadily every year since the program began.

The program was developed in collaboration with industry leaders, integrating data science into strategy and leadership. The course provides a broad foundation in programming, analysis, data processing and visualization. Students can study part-time without interrupting their current role.

RMIT University’s program manager, Professor Falk Scholer, said the program was designed for people with a background in computer science or statistics – which are two of the essentials of data science – as well as those with training in other fields such as science, engineering or health.

He notes that the demand for data scientists has risen sharply in recent years, with the trend set to continue as companies collect more data and use it to gain new insights and competitive advantage.

Although the trend was somewhat affected by the pandemic as the university temporarily shifted from on-site to online learning, enrollment continued, Scholer says.

“While the situation was particularly difficult for some of our international students, students and staff worked hard to ensure learning could continue and to foster a sense of community when we were isolated,” he says. .

Step by step at the top

Data Science is an ideal degree for people from other fields such as science, engineering, or healthcare who want to focus on additional techniques for analyzing and understanding data.

“Rapid developments in the fields of big data, artificial intelligence and machine learning mean that new tools and approaches continue to become available, which is ideal for students who want to be at the cutting edge of their career,” he said.

“Perhaps most importantly, data science tools and techniques are enabling people to help address some of the grand challenges affecting humanity, from climate change to understanding global pandemics,” he says. .

Successful business strategies depend on understanding data, and without data-savvy leaders, even the best data teams can struggle to apply their knowledge to a business.

One of the great advantages of a career in data science is that roles can be so varied, ranging from focusing on statistical analytical approaches to designing algorithms and deploying AI-based models, in through the distillation and communication of complex ideas in an understandable way.

“In terms of application areas, you can help a business understand complex product preferences to generate recommendations, understand how users interact with a website to make it a more engaging and effective experience, or to identify trends related to homelessness and how services and support can most effectively be delivered.The opportunities are vast, making it an increasingly sought-after career,” says Scholer.

Use RMIT University’s online canvas platform to access courses anywhere, anytime. Connect data. Unlock the trading strategy. Find out here.

Comments are closed.