The edtech startup Imarticus Learning has observed an increase in interest in data science education in the nation, given that every significant organization needs a specialized staff of data analysts. The global market for data science education is expected to reach $378 billion by 2030, with India’s market expected to increase from $204.23 million in 2023 to $1.391 billion by 2028, according to the Imarticus Learning and Analytics Insights Data Science Report 2023.
The banking, financial services, and insurance (BFSI) industry leads in hiring data scientists, followed by e-commerce/internet and energy/utilities, accounting for more than 60% of all data science jobs, according to Karthik C, VP and head of data science at Imarticus Learning, Mumbai.
Telecom, auto, entertainment, media, healthcare, pharmaceutical and retail are among the other industries that are actively hiring. The 2022 Analytics India report states that the most in-demand position is that of business analyst. The next most sought-after positions are those of data scientists, engineers, analysts, and deep learning professionals.
“The future would be driven by data more and more, and the opportunity to harness insights from data science is limitless,” predicted Karthik C. The industry is seeing a rise in employment as a result of the growing number of international companies operating in India. These companies are improving productivity through the use of automation, tooling, simulation, prediction, and optimization. The key competencies needed to succeed in data science include machine learning, statistical analysis, programming, and data visualization.”
The history of data science is also chronicled by Imartis Learning, which goes all the way back to the early days of the internet. From transactional decision-making and data storage 25 years ago, data science advanced to business intelligence, descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics.
Semantics is currently a part of data science, with an emphasis on comprehending social context and data meaning.
Over the past two years, Nikhil Barshikar, the CEO of Imarticus Learning, has witnessed firsthand the revolutionary effects of generative artificial intelligence. Large Language Models (LLMs) and GenAI, two more modern technologies, are being incorporated into data science school programs.
“These are now being used in text, audio, images, and videos too,” says Barshikar. Today, the shift is from quantitative data to artistic expression, from resolving business issues to assisting individuals in their daily lives. Many new businesses are profiting from this trend.”
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