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07/08/2020

The State of Data Science in 2020

Data science is an essential ingredient to the digital transformation movement that has impacted every industry over the last several years. If anything, data science is the secret sauce for giving businesses a competitive advantage, especially during COVID-19.

Nearly every business, regardless of niche, stands to benefit from making more data-driven decisions; it takes having the right tools and talented people (Data Scientists, Chief Data Officers, etc.) to make it a reality.

Below, we’ll cover a few of the latest updates in the data science industry, touch on which trends are most likely to shape the future, and explain how companies stand to benefit from having leading data science talent in place. 

The Current Data Science Landscape

For most of you, it probably won’t come as much of a surprise that a profession (Data Scientist) that uses data to solve complex problems has been named the number one job in the U.S. by Glassdoor for four years in a row. Additionally, data science recruiters are seeing a record high demand for positions in this niche industry. It’s estimated that data science skills will drive a 27.9 percent rise in employment through 2026.

Growth-oriented businesses are no longer relying on hunches or best-guesses to make decisions. Instead, they are crafting strategies based on informed decisions from data science professionals. In fact, this trend of leveraging data to execute core business choices is rising in interest by over four times in the past five years alone.

While nothing is certain, here are a few trends within data science to keep an eye on for the rest of 2020 and beyond.

Automation

If you’re eavesdropping on conversations about the future of most industries, you’re likely to hear the words “digital transformation,” “big data,” and “automation” parroted like they’ve taken the place of “hello,” and “how are you?” Data science is no different. Collecting, aggregating, and then finally analyzing data still requires a number of manual steps, though. The good news is that automation through AI is positioned to have a massive impact on the data science industry, especially with advances in machine learning.

One company, enterprise AI software provider DataRobot, is on the frontlines of automation. Their platform can compute and analyze data from thousands of servers to find pertinent data – in other words, DataRobot uses machines to help data scientists find the best data, saving them time and money. Like many other industries (e-commerce, marketing, etc.), automation will continue to shape the future.

Data Security

Between compliance with GDPR guidelines and the constant threat of cyber-attacks, any job that collects personal information must take data security and privacy very seriously. In a job that is literally fueled by data, taking extra precautionary cybersecurity measures is a must.

While most data that data science professionals use is generally anonymous, there’s still a good chance that at least a portion (if not more) of the data contains sensitive information. With hackers attacking every 39 seconds, data security will be top of mind in the future of data science.

Data Science Recruiters

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Data science professionals are increasingly in high demand. In fact, a simple Google Trends search reveals a steady increase in search queries for “data science jobs.” 

 While demand is at an all-time high, there’s a noticeable shortage of qualified data science candidates. If your company is interested in hiring a skilled data science professional, seeking a qualified data science recruiter might be your best bet to reliably find that game-changing employee.

 

BrainWorks Analytics, Data Science & Data Governance Solutions

For companies embracing digital transformation, data science is fundamental to business operations. Today’s consumer companies need cutting-edge talent that can drive data science growth through innovation and strategic digital expertise.

At BrainWorks, we know how to identify dynamic talent who fit the unique culture, environment, and vision of your company. We solve your hiring challenges by leveraging our vast network of highly skilled talent and our extensive, time-tested industry expertise.

Get in touch with us today to learn how we can do it for you.

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