Data Analytics is emerging as a relatively new field for professionals in any business organization. It is not only attractive to those in the corporate world, but to those interested in this field or for attaining a tool that can bring more success to their specializations.
Why the sudden rise in demand for Data Analytics?
Let us investigate and delve deep into the factors that have led to this global increase. As we all know, there is a good amount of increase or explosion in digital footprints, there are more social media platforms arising, every other person now has access to a smartphone, and so every action performed on these devices is being recorded somewhere within the arena of social media, i.e. a digital trace. So our access to the internet and social media websites has led to the explosion in the availability of data.
Until around 2009, 0.79 zettabytes of data had been generated, which is predicted to have increased to 35.0 units of the same data in 2020. This means an explosion of data several hundred times more than what it was before. It is, therefore, no surprise that the availability of data that is being generated, would definitely encourage businesses and their enterprises to understand and extract the value of data. Where we might be lacking, however, is the fact that our education system has failed to update it to include the enormous amounts of data that becomes generated every day. This makes students unable to get themselves equipped with sufficient knowledge of recent data. At the same time, in businesses where the management was slow to react to the huge availability of data, they did not train or equip their employees with the right skill sets or prepare them for the upcoming demand.
Students Can Look for Future Career Prospects in Data Analytics
Undergraduate and/or Postgraduate Students can still build the requisite skill sets in Data Analytics and build a lucrative, high-paying career for themselves. There is a long way to go into the field of Data Science and even research. For those who are midway in their career and want to survive the next 20 years, Data Analytics is the future for this progression. Times could become highly challenging if you don’t equip yourself with sufficient knowledge in the field of Analytics.
IBM has predicted the demand for Data Scientists is likely to increase in the job market by the financial
year of in 2020.
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