How Lucrative & Challenging the Boundary less Opportunities for Data Scientists?

Abstract

The data scientist is a new profession which is considered as a key profession in the world oftechnologies and is one of the best paid jobs. A data scientist is a person who has developedexpertise in the mathematical modelling and statistics that dominates programming and itsdifferent languages, computer science, and analytics. Data science comprises of datagathering, data warehousing, data analysis, data mining, online analytical processing,artificial intelligence, machine learning, and decision science for Predictive and prescriptiveanalytics for supporting managers for future decision process in a hectic competitiveenvironment. Due to globalization and ICCT supported automation of many businessprocesses, big data supported data science importance in many industries and hence Datascientists are also getting huge demand. Data scientists are key change-makers inside anenterprise that provides knowledge that they can illuminate the company's journey toward itsultimate business goals they have strong market demand. They are instrumental in inspiringboth leaders and developers to build better products and paradigms. Their role in bigbusiness is becoming increasingly important, they are in ever shorter supply. Demand fordata scientists is so exponentially growing that McKinsey expects a 50 percent difference indata scientists' supply versus demand by 2018. In this paper, we have analysed the continuedopportunities for data scientists for 21st century business and how lucrative and challengingis their job based on opportunities and challenges framework.