Data Science: Opening New Vistas of Opportunities in the COVID 19 era
May 14, 2020It’s no secret that the COVID 19 crisis has taken the entire world by storm, pushing world economies into lockdown and global businesses into a screeching halt. This has been widely seen as the worst global economic fallout since the Great Depression of the 1930s. The unprecedented COVID 19 outbreak has deeply affected lives of millions across the world. Situation is no different in India as well. Battered by COVID 19 lockdown, more than 100 million jobs in India are in the firing line. While industries like aviation, travel and hospitality are the worst-hit, mayhem looks imminent in other industries also, from automobiles to retail, IT-software to pharma to handicraft, media to mobile phones. The unfathomable COVID 19 pandemic has sent the Indian economy into a tailspin, kick-starting a spate of layoffs, pay cuts, and furloughs. In the backdrop of business uncertainty emanating from the crisis, a large number of companies rescinded campus job offers and frozen hiring activity also. Hiring activity in India witnessed a decline of 62% (YoY) in April 2020. Nevertheless, experts opine that despite the bleak job market scenario amid and post COVID-19 crisis, there will be no looking back for data-driven jobs. In-Demand Data Science Skills As rightly quoted by Albert Einstein, ‘In the midst of every crisis, lies great opportunity’, COVID 19 crisis is opening up new vistas of opportunities in the Data Science domain. The outbreak – COVID 19 pandemic is creating large volumes of data which is spurring interest in Data Science. With its ability to analyse heaps of data and resolve societal problems efficiently and swiftly, data science has been playing a crucial role in the battle against the COVID-19 pandemic. Data science professionals have been assisting governments and organisations in tracking the spread of pandemic, assimilating trends and extracting insights to guide through the entire life cycle of the pandemic. Demand for Data Science jobs has been booming in the last few years and skyrocketed in 2019 and the trend is likely to continue even in the wake of this global pandemic with the advent of more extensive data. Emerging technologies including Data Science, Artificial Intelligence (AI) and Machine Learning (ML) are playing a vital role to enabling businesses take revolutionary leaps forward. Source: Thinknum As per the recent report by IIA (International Institute for Analytics) and Burtch Works, the future of Data Science, AI and analytics professionals is promising. Besides, WSJ quoted that technology workers with AI skills are being spared from the current wave of layoffs, and may see rise in employment opportunities, as health-care providers and businesses are looking to develop advanced analytics and other smart applications. AI indeed emerged as a bright spot in an otherwise gloomy employment scenario. IDC, a prominent global market intelligence firm, estimated that the number of AI jobs globally could increase by as much as 16% in 2020, reaching 969,000, driven by stronger demand for AI professionals, as companies confronting with the crisis are gearing up for the future of work. Upskill to Ride the DS Wave Given that Data Science emerged as the fastest-growing skill in the technology sector, there is huge demand for professionals with Data Science skills. The COVID 19 pandemic has further exacerbated opportunities in this field. Nevertheless, as the availability of such skilled professionals are scarce, TimesTSW endeavoured to reduce the demand-supply gap by creating equipped and expert data scientists out of young professionals. TimesTSW, in association with Intel Corporation, one of the leading technology giants as knowledge partner, offers The Post Graduate Diploma in Data Science (PGD-DS) with an aim to create professionals who can convert business problems into machine learning & AI problem statements. Ranked #7 by Analytics India magazine, the program offers hands on experience in multiple domains such as Healthcare, BFSI, Retail, Telecom & IT. This exclusive program offers hands-on training on coding by industry experts, with access to Intel project data sets and Intel platforms. Besides, the state-of-the-art infrastructure of TSW enables you to understand functional aspects of Advanced Data Science. Fresh graduates or working professionals with an analytical bent of mind can join the program at https://timestsw.com/course/post-graduate-diploma-in-data-science to gain expertise in this exciting domain which would open new vistas of career opportunities and prepare them for the future of work.