With 14.2 million Australians connected to the internet, having downloaded 3.6 million Terabytes of data in the last quarter of 2017 alone - it's irrefutable that data fuels the future.
90 percent of all data has been produced in just the past two years.
With this recent explosion in the data generated and retained by companies, the need for a new generation of trained data experts with the ability to make sense of it all has never been greater.
Big Data is the new frontier - and we need people to conquer it
With Australia's elite businesses now fully aware that they don’t have the capacity to comprehensively gather, interpret and use all this data, they are on a mission to fill positions which have the capacity to unlock Big Data’s potential – hence the increased demand for data scientists.
This year, there will be a 50 per cent gap in the supply of data scientists versus demand.
While top organisations consider data analytics a crucial component of business performance, a whopping 41% of businesses have cited a lack of skilled candidates as a major challenge to integrating big data into their operations.
This dire lack of experts in the field creates an opportunity for people who are hungry to establish themselves as indispensable leaders in Australia's top businesses, whilst making their mark in the data science landscape.
There’s a lucrative salary waiting for you
The average annual income of data science professionals with a postgraduate qualification in Information Technology is forecast to rise to $130,176 by 2022.
A Burtch Works’ study of salaries for data scientists stated that “data scientists are earning more than doctors”. And, since industries and businesses that require data science are so broad, you can even choose a field of work that sparks your own personal interest.
Here's what it takes to make the jump into data science
In order to make a career change into data science, you will need the relevant hard skills, including a solid understanding of open-source programming languages such as R and Python, and the ability to effectively utilise the latest big data processing tools like Hadoop and Spark.
While these skills create the technical foundation of a data scientist’s skill set, other highly important transferable skills include:
Critical thinking & problem-solving skills
Data visualisation & the ability to translate quantitative data into practical business insights
Pattern recognition & behavioural analytics
Data science is for the intellectually curious
Do you think you may already have some of the skills needed to transition into a career in data science?
90% of data scientists have an advanced degree.
Postgraduate study such as a Graduate Diploma of Data Science with Monash Online can help to formalise your experience and allow you to fill any skill gaps. Not only will this make you a standout job applicant, but it’s also the ideal way to seamlessly transition into a position of the same calibre you’re currently in, rather than start from the bottom up.