Simply put, Data Science is the fusion of a number of different methodologies and techniques from a myriad of different fields including but not limited to mathematics, statistics, information science and computer science. Data Science looks at the most efficient, effective approach to identifying and analyzing a data set, often big data, in order to make informative decisions. Business Intelligence is the strategic implementation of decisions informed by analytics.
Big Data has been projected to be the #1 catalyst for economic growth, forecasting a total GDP of $610 billion annually by 2020.
Data Science Career Outlook
In 2013, McKinsey Global Institute reported Big Data to be the #1 catalyst for economic growth, projecting a total GDP of $610 billion annually by 2020. Needless to say, there are a number of opportunities within the field of Data Science. The following pie chart is an example of job titles within the field with corresponding national average salaries:
Data Science is one of the few industries where we still see more job openings, across numerous industries, than we see qualified professionals to fill them. Historically, data science related positions were reserved exclusively for those with Information System backgrounds, however with the emergence of a number of different tools and programs combined with the increased demand for data informed decisions across all industries, we are now seeing a trend of professionals shifting their careers from sales, marketing, finance, and accounting backgrounds into Data Science roles.