Data Science, that is, the science of working with data, is not just a new fashionable word in the IT world. This is what will change the world of programming, business and even the behavior of consumers. In fact, Data Science is already changing it, and many startups in the field of big data and artificial intelligence prove this in practice. This allows talking about the growing demand for specialists in this industry and the corresponding growth of data scientist salary in the leading IT countries.
Big Data vs Big Opportunities for Business
The information collected by companies cannot be covered even in the mind’s eye. Their flow is inexhaustible, and every day the number of information increases. However, by selecting the “right” data for a specific purpose and correctly analyzing them, companies today receive answers to complex and relevant questions. They can concern, for example, risks, the reasons for the lack of success, reducing costs, ways to increase profits, optimizing the development of new products, making decisions, predicting the undesirable behavior of employees and customers, choosing marketing strategies and other aspects of the business.
Today a big number of organizations successfully use big data in their marketing schemes and to improve the quality of services. The Amazon with the help of analysis of search queries, purchases, and other customer info creates a fairly accurate “portrait” of the product, which is very likely to interest a particular client. Facebook, analyzing huge streams of info about its users, shows publications on potentially interesting topics and suggestions to add certain people to friends. Google uses the analytics not only for targeted advertising but also for predicting the use of Internet traffic and offering its own applications to users.
Surprisingly, big data have become useful in all spheres of human activity, for example, in healthcare, education, and science. The big Hadron Collider in CERN is essentially a generator, based on which, the company determines the results of experiments using sophisticated algorithms and analytics. big and small businesses can also successfully use this principle for their own good. Practice shows that, in general, analysis of big data positively affects the company’s profit and business efficiency. The opportunities concealed in the analysis of necessary information with a competent approach are almost inexhaustible.
On the one hand, any information concerning the company can be potentially useful information. On the other hand, info sets in many companies are so huge that analyzing them all would mean huge resource costs. Thus, it makes sense to determine in advance which data is most valuable for specific business purposes and to include it in the analysis.
What Is Big Data Scientist Salary
Taking into account the benefits that can be brought to business through big data analysis, it also makes sense to compare data science salary in different countries.
- Switzerland – $7,500
- The USA – $5,000
- The UK – $2,700
- UAE – $2,500
- Ukraine – $1,200
- India – $460
As we see, the values of big data analyst salary are quite considerable. Even in the last two countries, business analytics salary is quite a significant amount compared to the standard of living, which makes it possible to talk about the complexity of this work and the relevance of the profession.
Few Words to Conclude
For every business or even a kind of activity, the profit from the big data is its own. The key point is that it allows acting purposefully and releasing human resources for more complex and creative work. For example, an analyst who studies business performance, thanks to the introduction of computer processing algorithms, does not need to engage in routine. He can take in the work immediately ready, calculated by the machine results. Specialists whose work requires increased care (doctors, lawyers), machine algorithms can serve as a complementary tool to draw their attention only to those cases that stand out from the bulk of the results.