Data scientist: The new kid on the IT block!

MUMBAI, INDIA: The age-old profession of statistician and mathematician is seeing a big demand like never before, but in its new avatar as 'data scientists'.

With enterprises and organizations slowly getting to terms with the big data, analytics software vendors and service provides are all geared-up to cash-in on big data. There is a surge of data scientist jobs in the industry.

In fact, a McKinsey study on Big Data states, “India will need nearly 1,00,000 data scientists in the next few years.” Ideally, data scientists, also known as data analysts -- are professionals with core statistics or mathematics background coupled with good knowledge in analytics and data software tools.

“A data scientist is a wizard — who is a statistician, mathematician and a person with business understanding all rolled into one,” Oracle defines data scientists on its website.

“Basically, the role of data scientist or analyst is played traditionally by statisticians or mathematicians. Now, with the data growth their role has evolved bigger in organizations and has become more responsible than in past,” says Sudeshna Datta, AbsolutData's co-founder and executive vice president.

“Today they need to be very tech-savvy so they can understand data complexity, queries as well as business aspects. It is not just that they will analyze and write reports, but have to work on huge data volumes -- understand and analyze it using software tools and applications. And provide a totally different insight of data,” Datta explains.

Gurgaon-based AbsolutData is a global provider of analytics and research services, and has a total 275 staff memebers, of which two-third are involved in data-mining, analytics, generating reports and insights for clients.

The shortage of data scientists in its ideal form is opening big scope for service providers like AbsolutData. Companies are hiring statisticians or mathematicians, providing short term in-house training on software tools and making them competent for data scientist jobs.

Pankaj Mittal, Archelons' director — a recruitment firm says there are a new set of companies such as Internet shopping, ticket booking, retailing and others. "Such online businesses largely look at hiring data scientists or analysts. Though old companies are not looking to hire data scientists but have started to look at the concept of big data.”        

“Companies like Flipkraft which deals with high volumes of transactions daily, generate very high data volumes that requires specialized skill-professionals like data scientists. Primarily, people with engineering, mathematics background having good tech and analytic skills are moving into data scientist jobs,” Mittal explains.

On an average Mittal's firm gets three-five queries for data scientist job per month. He says, the demand is bound to happen as more companies have started to increase their online presence using technology. Sudeshna, however stresses, “Unlike BPOs, which hire staffs in large number, data scientist jobs require specialized people, but in less number.”    

Mittal adds that top clients want candidate from IIMs or IITs, however Datta points that other educational institutes such as ISB have started to offer specialized programs for data analytics.  

“In India, we have so many people which are good in statistics or mathematics, they have good analytical and problem-solving skills, but are unaware about data scientist or analyst's work. So, we need data administrators who work in tandem with statisticians and help them train and mould into data scientists,” says Yogesh Bansal, ApnaCircle.com's founder & CEO.

With more businesses going online today, Bansal points that when it comes to understanding user behaviours and their preferences, data scientists are the best people to perform tasks such as A/B testing for website versions and its analytics.

Bansal opines, given the large base of statisticians and mathematicians in country, IT companies and large enterprises should given they chance to work and meet the requirement of data-scientists.