In this era of the digital world, billions of data are generated from numerous systems in both structured and unstructured format. Hence multinational corporations demand analytical solutions to gather huge insights and completely align them with the strategy flow to stimulate business growth. Big data services not only include collecting, connecting and cleaning data in a required format but also include generating accurate and intelligent business reports. Recently software development firms started offering services that harness the power of big data to its fullest. With the help of data, analytics organizations could revamp their strategies and allow them to drive up the big revenue. Also, the big data developers have the capability in providing the business intelligence services such as precise report generation, quick insights on the dashboard with database tuning, data mining and predictive analysis.
Big data is a buzzing word in business schools. Big data companies are expanding the opportunities for young graduates to become data scientist expert in this arena. Thus, the students’ demand for degree soared high as the employers started looking for skilled analytics. There is a huge boom in the degree courses which specializes in data science which is powered by the untapped potential of data analytics in the business. Now master’s degree in data analytics is in a star quadrant of a BCG matrix with tremendous growth rate. Seventy-four percent of big data courses in the United States reported a rise in the demand last year, compared to 32 percent of two-year, full-time MBA programs. The sudden spike in demand for data analytics is driven by the rise in lucrative job opportunities coupled with the qualifications. A research conducted in the United States revealed that the average pay across 48,347 data scientists’ roles and advanced analysts advertised in the country was $94, 576. Over a third of the job postings demands at least a Masters qualification.
There is a world full of opportunity for those who could extract value from big data and analytics. Sophisticated and complex data sets could provide predictive insights. Data has become itself into an unseen currency. These days, companies have information with them and they need skillful people to gather and transform data into valuable insights. Lately, a lot of business schools have sought to integrate big data into their curriculum either through MBA specializations or standalone degrees.
The big data job market is colossal. There are vast and wide opportunities for data scientists all around the globe. More knowledge and expertise in data analytics implies more job opportunities and higher income potential. Big data has become an essential quotient in all industries with an array of projects, services and partnerships. Services could vary according to the specific requirements of organizations and their need to use the power of big data solutions and analytics in order to streamline and simplify the processes.
The scope for big data and analytics in India is humongous. Like demand theory in economics, there is a growing demand for data analysis in organizations, which makes them the dire need to hire data experts who could harness the power of data analysis to deliver business insights in order to achieve a competitive advantage.