A data scientist has been one of the topmost jobs people have been trying to land for a long time. And well after witnessing the benefits of data science and analytics in literally every sector, there is no wonder why. It helps in fields like education, retail, customer service, the health sector, and tourism. It helps corporate firms where it matters. That is, in processing, analyzing, managing, and storing a vast amount of data.
It also helps them to make predictions according to the changing market trends and client demands. This is why it is important to learn data analytics if you want to pursue a career as a data analyst.
A lot of institutions offer good data analytics courses in India. Check out Imarticus Learnings' data analytics certification course to hone your skills properly. This will provide you with enough exposure and real-life experience which, in turn, will help you land your dream data analytics job.
However, last year saw the data analytics job falling behind in the charts for the first time. Now, is it finally coming down from its throne or is it just another victim of the coronavirus? That is what we are trying to figure out here. Keep reading to learn more.
Is the market decreasing or a victim of Covid-19?
2020 saw a lot of upheavals globally. From educational institutions being shut down to corporate offices going on hiatus for months and some small businesses going out of business altogether, it was a year of getting used to the new normal. With that came the trend and the necessity to work from home.
Not to mention the terrible loss people faced all over the world. Unfortunately, with the new variant on the rise once again, the troubles seem far from over as of now. This also caused a lot of people out of jobs overnight. Not only that, but a lot of jobs went out of practice as well.
People are still figuring out how to cope with this unprecedented situation. So, as of now, it is really up for debate as to what caused this upheaval in the hierarchy of job positions. Some things come into play though when it comes to changing market trends. Let us look at the situation by trying to analyze those.
Economic factors that factor into changing trends
There are about three major factors that disrupt an ongoing situation, especially in the job market. Those are, as follows:
- Demand: The reason why any job ranks as the topmost is its demand. Thankfully, the demand for a data analytics job is still very high, as it still ranks as number three on the list. So, the era of data science is far from over.
- Supply: The supply of data scientists is quite low as of now. And, it seems that it is going to stay that way for years, so the job is going to keep reigning over for a long time.
- Growth: Growth is a major factor when it comes to any job being relevant. And, the market for data scientists is still growing. In fact, if reports are to be believed, then this field saw an increase of about 650% since 2012. So, it is safe to say that the market will remain relevant in the coming years.