Data science experts are in demand across industries, not just technology. Therefore, it is no surprise that a report from the US Bureau of Labor Statistics indicates that data science needs will create approximately 11.5 million jobs by 2026.
Data Science is an amalgamation of Computational Mathematics, Computer Science, Statistics and Management. He is restructuring big data with analytical, technical and scientific skills. A degree in Data Science gives graduates a career advantage, either as a specialty or as an added value to another major. Most universities and colleges now offer courses in data science and analytics, along with degrees in statistics, computer science, and information science.
Pursuing data science in Germany and scope
With an international reputation for world-class faculty and state-of-the-art infrastructure, German universities equip students with a deep understanding of modules such as applied statistics, practical machine learning, database systems, data preparation and decision analytics. , all of which are commonly used in businesses.
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According to the QS World University Rankings by Subject (Statistics and Operations Research) 2022, four German universities are among the top 100. The list includes the Technical University of Munich, Humboldt-Universität zu Berlin, Ludwig-Maximilians-Universität München and Technische (TU Berlin). Furthermore, according to US News & World Report, the research-intensive curriculum places the German education system among the top three.
Students in Germany can pursue data science at both master’s and bachelor’s levels. Universities offer a host of specializations in data science, including machine learning, artificial intelligence, big data management, applied data science, mathematics in data science, and others. German universities have impressive industrial links with companies such as Airbus, Allianz Global Investors, ERGO, etc., which offer students an unparalleled opportunity to acquire advanced skills.
According to Statista, a German company specializing in market and consumer data, organizations that employed 50 data scientists or more increased from 30% to 60% between 2020 and 2021. The convergence of several technology trends is promoting hiring data science experts.
Data Science: Importance Across Industries
The application of data science has expanded to various industries. Starting with Finance and Banking, the sector that first realized the power of data-driven science, industries using data science include Media, Advertising and Marketing, Healthcare, Manufacturing, Retail and others.
Moreover, it is indispensable in the meta-environment. The shopping experience metaverse, where data entered by individuals shapes their shopping experience and how data is channeled by brands to market their products with the help of AI, speaks to the vital role that data science plays in transforming metaverse. Global giants like Amazon and Netflix are also using data to deliver a personalized experience to their customers.
The value of data and analytics has led to a paradigm shift in the relationship between manufacturers and consumers. Alphabet, which used its algorithmic edge to propel Google ahead of older search engine competitors, is now using its formidable talent base of data experts to expand into new businesses, such as developing of autonomous vehicles. Apple used its unique data, infrastructure advantage and product platform to enter the field of finance with Apple Pay. Today, transactions produce valuable information and acquiring the skills to understand data can give businesses a leg up.
Career Paths in Data Science
Five of the world’s largest technology companies – Microsoft, Amazon, Google, Apple and Meta – are the largest employers of engineers and data scientists.
The field of data science has gained huge popularity among young professionals. Some of the top profiles are data engineer, data scientist, data architect, computer research and information scientist, data analyst and machine learning engineer.
In Germany, the average data scientist salary is €66,000, while senior data scientists can earn up to €86,000 and top data scientists can earn over €106,000, according to Glassdoor. Additionally, the average annual data scientist salary in the UK and France is €56,000 and €45,000, respectively.
Recent technological evolution and generation of large amounts of data (Big Data) are driving the wide scope of Data Science. It has found uses in all industries, considering that any interaction and exchange in any kind of technological domain is possible because of a certain set of data.
Advanced technological concepts such as deep learning, artificial intelligence, Internet of Things and others have reinforced the impact of data science in various fields.
That’s exactly why universities around the globe are focusing on programs that can help the future workforce make sense of the big data that’s available now. Students enrolled in a data science program in Germany can benefit from a range of specializations, hands-on learning, innovative study modules and state-of-the-art facilities.