Why is there a shortage of data scientist?

The major reason why there is a shortage of data scientists in the industry is lack of skills. Data scientists are highly skilled persons who are supposed to possess technical skills as well as non-technical skills. But the companies are not able to find the required data science skills in the data science aspirants.

How is the need for data scientist job is growing?

The U.S. Bureau of Labor Statistics sees strong growth for data science jobs skills in its prediction that the data science field will grow about 28\% through 2026. Also, as technology improves, companies have been able to increase the sophistication of their data operations and analysis.

What are the challenges with hiring Data Scientists?

The Big Four Reasons Companies Struggle to Hire Data Talent

• Companies don’t know what they want.
• They don’t have hard data problems.
• Hiring managers don’t actually know how to evaluate data scientists.
• They don’t value or understand the practice of data science.

What is the demand for data scientists?

A predicted 2.7 million open jobs in data analysis, data science and related careers in 2020 (source: IBM). 39\% growth in employer demand for demand for both data scientists and data engineers by 2020 (source IBM). An average earning potential of $8,736 more per year than any other bachelor’s degree jobs (source: IBM).

Is the demand for data scientists increasing?

The 2018 Deloitte report revealed that the demand for data scientists in Australia was on the rise, citing that a whopping 76 per cent of businesses said they planned to increase investment in analytics capabilities over the next two years, meaning strong growth is on the way.

Is there a shortage of data scientists and analytics talent?

In 2018-2019, we found the shortage of data science and analytics talent to be pretty evident. Many job boards like LinkedIn, Glassdoor, Dice.com as well as analytics professional recruitment firms like Burtch Works and Harnham consistently published reports of high salaries and strong job growth for Data Scientists.

Are there enough data scientist candidates?

There are still not enough data science candidates to meet the growth in demand. As the chart below indicates, there are roughly 1,000 Data Scientist job postings per million job postings, but only about 600 Data Scientist job searches per million.

What is the future of data science in the workplace?

The near-term future for Data Scientists looks bright. LinkedIn 2017 emerging jobs report claims that machine learning engineers working today has increased by 9.8 times as compared to 5 years ago. Machine Learning Engineers, Data Scientists, and Big Data Engineers rank among the top emerging jobs on LinkedIn.

What is the most in-demand job in the data science industry?

It’s been established by many experts that data scientist is currently the most in-demand profession in the industry. As the industry is maturing with new-age technologies and solutions, the demand for data science skills will be on the rise.