Digitalization is the flavor of the world today, with digital technologies changing business models and providing new opportunities to generate revenue and produce value. Across companies of all sizes and in all verticals, this has meant huge amounts of data flowing in. The implications are two-fold:
• The incoming data needs to be properly segmented and stored
• The data could be analyzed to provide some very valuable strategic insights
For these reasons, big data analytics is most definitely here to stay. Its importance will only grow in the years to come, given that the inflows of data will only keep rising, and companies are always looking to do whatever they can to stay ahead of their competitors. Big data revenues across the world are projected to increase from USD 42 billion in 2018 to USD 103 billion in 2027, at a CAGR of 10.4%.
This also means a big data career could be a very rewarding choice. Salaries are quite impressive, with the median annual salary at USD 116,000 and even the entry-level package at USD 92,000. With more companies realizing the worth of having specialists in big data and analytics in their team, the number of job openings in the field is only going to rise. In fact, 80% of data scientists say there is a shortage of professionals in the field. In the US alone, 2.7 million job postings for data analytics and data science are projected by 2020.
Leave Your Comment