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Making sense of ‘big data’: The growing demand for data scientists

August 21, 2020 - 3 min read

Every day, people and organisations produce approximately 2.5 billion gigabytes of data. ‘Big data’ is one of the most valuable assets in the world today, capable of transforming the way organisations function, interact with customers and do business. But data is wasted without the work of data scientists, who translate the raw information into insights that support strategy and decision making.

Used wisely, data science can help a business solve long-standing and complex problems, reduce inefficiencies, improve customer service and identify new opportunities. Internationally, the data science boom has already begun. The January 2019 report from job website Indeed showed a 29% year-on-year increase in demand for scientists, and a 344% increase since 2013. There is, however, a global shortage of qualified applicants – meaning that there couldn’t be a better time to pursue a career in data science.

For some time, employing data scientists was a luxury only the biggest corporations could support. Today, in addition to the prospects offered by major international players like Facebook, Apple and Paypal, there is increased interest in data science from industries such as financial services, logistics and government. It isn’t hard to imagine a future where data scientist roles will be available across practically every industry, offering data science graduates a wide range of career opportunities.

Plus, data science graduates stand to make impressive salaries right from the start. In Australia, the skills shortage in this industry means that fresh graduates can sometimes achieve starting salaries as high as AUD$100,000. Australian technology career platform The Martec suggests that data science is one of the most promising career pathways in Australia right now, and that data scientists with five years of experience could be earning over AUD$140,000.

“Used wisely, data science can help a business solve long-standing and complex problems, reduce inefficiencies, improve customer service and identify new opportunities.”

Becoming a qualified data scientist can open the door to this world of opportunity – and the first step is data science study.

Deakin University is ranked among the top 1% of universities worldwide for computer science by ShanghaiRankings. Whether you are just starting out in the industry or looking to take your career to the next level, Deakin offers opportunities to study data science in several undergraduate information technology degrees, as well as the Master of Data Science. These degrees prepare students to graduate with the skills required to become a data analytics specialist capable of using data to learn insights and support decision making.

Deakin’s strong industry links offer the opportunity to work with respected Australian and international organisations and to build professional networks. Plus, most of Deaki’’s IT courses are accredited by the Australian Computer Society (ACS), ensuring a high quality of education and providing students with international recognition as an ICT industry professional, so you stand out to future employers.

For further information about studying at Deakin and courses that relate to data science, visit our data and analytics page.

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