What are the Pros and Cons of Data Science?

24-Mar-2022

Data Science has risen to prominence as a game-changing technology that has become the talk of the era. Data Science has become a buzzword and is also dubbed the "sexiest career of the twenty-first century. However, the number of people knowing the concept of data science in its actual context is scarce.

Into the Pros and cons of Data science

The discipline of data science is vast and has its own set of benefits and drawbacks. Let us delve into the pros and cons of data science to give a clearer comprehension of the career path. This post will assist you in evaluating yourself and selecting the appropriate Data Science course.

Merits in data science

Surging Demand

There is an exceeding demand for data science professionals.

Job seekers have a number of possibilities at their disposal. With 11.5 million employment predicted to be created by 2026, it is the fastest-growing career on Linkedin. Consequently, Data Science is a field with a lot of job opportunities.

Ample Number of Positions

The number of people well equipped with the right talents to be a full-fledged Data Scientist is very limited. As a result, Data Science has a lower saturation rate than other IT disciplines. As a result, Data Science is a broad field with many opportunities. The discipline of data science is in high demand, however, this increasing demand is constantly faced with the challenge of short supply or the availability of only a few Data Scientists.

A Lucrative Career

One of the highest-paying careers in data science. As per the Glassdoor report, data scientist gets an annual salary package of USD 116,100, which is a whopping amount. The pay will get higher as one gains higher professional experience and expertise. There's no denying that data science is a lucrative vocational path with such attractive pay packages and several other perks.

Data science can be used in a variety of ways.

Data Science has a wide range of applications. The application of data science has scaled into various other fields and is not limited only to technical domains. E-commerce, banking, Healthcare, and Consulting industries are all catered by the power of data and its services.

Data Science Improves Data

Businesses in this era now are in inherent need of processing and evaluating their data. They not only examine the data but also improve its quality. As a result, Data Science focuses on enhancing data and developing more useful and valuable insights which is a booster and business enhancer.

Demerits of Data Science

Data science - A vague Term

Data Science is rather a broad concept that is difficult to define precisely. While the title has gained popularity, defining what a Data Scientist entails is tricky. The precise job of a Data Scientist is dictated by the organization's field of expertise. While some proponents refer to Data Science as science's fourth paradigm, opponents have dismissed it as nothing more than a rebranding of statistics.

A complicated field to gain mastery

Data Science is an amalgamation of several disciplines which includes computer science, statistics, and mathematics. The possibility of becoming an expert in all the domains and being equally knowledgeable is far-fetched. While learning and acquiring the skills may be rendered a little easier and more accessible with the presence of training institutes online or in-campus, becoming an expert or master of this field is near impossible. It is a dynamic, ever-changing area that necessitates a continual understanding of the various aspects of Data Science. One has to be constantly ready to learn and upskill.

Requires intensive domain knowledge

The data science field is challenged with the disadvantage of being domain knowledge-dependent. A person having a considerable background in these subjects will find it difficult to handle Data Science challenges without prior knowledge of Statistics and Computer Science. Similarly, an employee in a healthcare industry working on genome sequencing and analysis requires basic knowledge of molecular biology and genetics. Acquiring relevant subject knowledge becomes tough for a Data Scientist with a different background. This also makes transitioning from one sector to another challenging.

Undefined data producing unintended Results

Careful predictions are brought forward by data scientists for better decision-making by analyzing data. However, there are high chances of producing unintended outcomes as most data are frequently random and arbitrary. Such processes account for the inadequate allocation and management of resources.

Data Privacy Issue

Data has become the lifeline of many industries with Data scientists assisting businesses by enhancing decisions based on data. The data employed in the process, on the contrary, may intrude on customers' privacy. The parent corporation has access to client personal data, which could lead to data leaks if security is exploited. This challenge of ethical concerns has been a matter of concern for many sectors.

That's about it, on the pros and cons of data science. It has its own backdrops when considering the magnitude of the sector and its cross-disciplinary nature since it is a less-saturated, high-paying field that has transformed various areas of life.