Come Out of The Misconception : Data Science is Not Only Built for IT. It's There to Enhance Every Domain.
Data is almost present everywhere, and it is crucial in every business today. The use of data across industries has grown abundantly by creating numerous data scientist job roles in almost every field.
The demand for data scientists has also been on high tide as data science will keep benefiting organizations. For example, data science and AI are popularly used in easy-to-search images on Facebook, Chatbots at Bank of America, and automatic fashion tips for customers buying clothes on Amazon.
But which domain holds the greatest opportunities for data scientists? Well, there is not a single domain or industry that we can identify as the most promising one for data science pros. Every sector is almost equally showing the data science job boom. But amongst them, by any chance you belong to the following domain, a data science career transition will be a jackpot.
Top 8 Domains Creating Huge Data Science Jobs :-
1. Retail - E-commerce and supply chain management
The physical stores remained shut during the pandemic. This industry experienced the highest layoff rates during that time. But such occurrences did not impact data scientists in the same industry. This is because the retail and sales industry thrives on consumers. Everything went online. Most retail sectors experienced huge growth via online business. To compete in the market, their personalization and relevance aim is to understand consumer behavior and patterns through their buying data.
Data science has enhanced businesses with better consumer understanding. As a result, data scientists are highly demanding in Retail and sales. The retail data science domain would combine every rare mix of data knowledge, intuition, business acumen, and statistical expertise.
The data science applications in Retail and sales :
Develop a personalized recommendation system.
Analysis of consumers' past searches and purchases to suggest the relevant products.
Improve consumer experience by predictive analysis and EDA outcomes.
Top Recruiters:
Aditya Birla
Lifestyle
Flipkart
Future Enterprises Ltd.
Walmart
Amazon
Reliance
2. Healthcare
Healthcare has a lot of sectors, and data scientists can combine large and unstructured data. So hospitals and healthcare institutions are searching for data scientists. Data science made it look easy to manage everything from clinical trials, genetic information, and electronic medical records to billing, wearable data, care management databases, and scholarly journals. Additionally, data science has been used to design and evaluate healthcare policies that increase access, opportunity, and quality of care. I.e., In recent years, India's healthcare sector has emerged as the country's leading source of new data science jobs.
Data science applications in healthcare :
Precise prescription
Advances in Clinical Science
Finding measures to reduce health risk
Diagnosis of diseases
Customized care support
Hospital operations
Top Recruiters
Sanofi
GSK
GE Healthcare
3. Telecommunication
At present, subscribers are constantly connected to telecommunication networks by text messages, voice, social media, etc. So this gives telecom industries access to a vast amount of customer data.
Other data sources, like past purchases, search habits, and consumer demographics like gender, age, and region, have proven important for wide transmission. Telecom businesses have benefited greatly from the classification and exploitation of this massive data set, allowing them to better serve their ever-expanding customer base.
The data science applications in Telecommunication :
Personalized offers for customers
Maintenance Prediction
Deploying Smart Network
Optimization and predictive maintenance of networks
Detect fraud activities
Innovate products
Campaign Targets
Contextualized Location-based promotions
Call detail record analysis
Price Optimization
Top Recruiters
BSNL
Reliance Jio
Vodafone-IDEA
Bharti Airtel Limited
4. Energy - oil - and gas domain
The oil industry is not exempted when it comes to a huge risk industry. They must operate 24/7/365. The mining and oil & gas industries are increasingly relying on data science, which isn't just for exploration and production anymore. Industrial transformation and distribution have been heavily influenced by data science. Examples include probability modules in many Geographic Information Systems (GIS), which identify the most productive areas. With terabytes of petrophysical, Measurement During Drilling (MWD) technology and fluid information can be mined to understand the reservoir better.
The data science application in Energy, Oil, and Gas :
Reducing drilling time.
Better transportation and shipping.
Improvise drilling safety.
Performance optimization of production pumps.
Data analysis by Seismic and microseismic method.
Reservoir characterization and simulation.
Asset management in Petrochemical.
Top Recruiters :
Indian Oil
ONGC
Essar Oil Limited
Cairn India
Corporation
Bharat Petroleum
Reliance Petroleum Limited
Gas Authority of India
5. Automotive - IoT - and embedded
Improved research, design, manufacturing, and marketing processes have also helped the automotive industry stay competitive. Even more importantly, advanced analytics has led to the development of self-driving car systems that include sensors such as camera and radar systems, GPS systems, inertial navigation systems, and more. Unfortunately, a lack of data science has made it impossible to keep track of tire wear, mileage, fuel efficiency, or driving patterns in light of the increasing complexity of automobiles and their ability to collect more data. So, expect self-driving cars without requiring a driver to communicate, collaborate, or navigate soon!
The data science application in IoT and Automotive :
Increase vehicle safety with IoT intelligent sensors
Reduce repair cost
Increase production line performance
Manage schedules effectively
Help manufacturers gain more control over supply chains, management, and logistics
Top Recruiters :
Honda
Volkswagen
General Motors
Maruti Suzuki
Hyundai
6. BFSI
There are various ways to operate data science in banking and financial institutes to provide better services to clients. The Financial Services, Banking, and Insurance domains are significantly run by the usage of data and its analysis helps in business decisions. This domain has integrated data usage in almost all its features.
The data science application in BFSI
Loan approval management
Fraud detection
Lifetime value prediction
Risk modeling
Manage and secure customer data
Algorithm trade
Customer segmentation
Credit score and underwriting
Top Recruiters
HDFC
ICICI Bank
HSBC
JPMorgan Chase
BNP Paribas
Citi Group
7. Sales and marketing
Data scientists have become too important in this domain. Big conglomerates and SMEs who store data need a secure security guarantee for their consumer's data as every business has a different process for collecting data, processing, and visualization. An extension of data science in this domain can improve analytical decisions, create competency, understand the business mechanization and work towards the business's overall objectives.
The data science application in Sales and marketing
Accurate Business Predictions.
Help in sales and marketing strategies
Enhance data security
The complexity of data interpretation
Top Employers
Amazon.
IBM.
Deloitte.
MuSigma.
Flipkart.
Accenture.
8. Cloud computing and DevOps
Cloud computing involves servers, data analytics, databases, artificial intelligence, and software that are accessible and can work together with the help of the cloud. It helps companies use most data centers at a very low cost. In addition, cloud computing clears data science obstacles to implementing it in systems. So, cloud computing would increase the computing speed and access to data and even increase revenue.
The data science application in Cloud computing and DevOps:
Saves investment
Optimize to improve real-time data management
Quick and efficient collaboration
Prevent data loss
Improve data security
Top Employers
Accenture
Deloitte
LinkedIn
Conclusion
So. There is nothing called the ' best domain for data science', whatever domain you belong to, you have plenty of scopes to switch into data science. But keep in mind, while learning data science skills, choose a particular domain as per your existing experience or interest. With your interest and knowledge in one specific field and by completing a data science course, you can become a data science expert in your respective field. To become a data scientist, you must work on live practical cases -as the capstone projects. Capstone projects are where you can improve your domain knowledge and also show recruiters that you are experienced in solving particular industry-specific business problems.
You can choose the Learnbay data science and AI course; if you want to become a demanding and domain-expertized data scientist, you can opt for a Data Science and Artificial intelligence course with 100% job assistance.
To get instant updates about domain-oriented data science and AI happenings around the world, you can follow us on Facebook, Youtube, Linkedin, Twitter.
