Data science experts are needed in all industries, not just technology. Therefore, it’s no surprise that a report from the US Bureau of Labor Statistics shows that data science needs will create around 11.5 million job openings by 2026.
Data science is a fusion of computational mathematics, computer science, statistics, and management. It restructures big data with analytical, technical and scientific skills. A data science degree gives graduates a career edge, whether as a specialty or as an add-on to another major. Most universities and colleges now offer courses in data science and analytics, as well as degrees in statistics, computer science, and information science.
Pursuit of data science in Germany and scope
With an international reputation for world-class faculty and modern infrastructure, German universities provide students with an in-depth understanding of modules such as applied statistics, hands-on machine learning, database systems, data preparation and decision analysis, all of which are commonly used in business.
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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-UniversitÃ¤t zu Berlin, Ludwig-Maximilians-UniversitÃ¤t MÃ¼nchen and Technische UniversitÃ¤t Berlin. (TU Berlin). Moreover, according to US News & World Report, the research-intensive program places the German education system among the top three.
Students in Germany can pursue studies in data science at master’s and bachelor’s levels. Universities offer a myriad of data science majors including machine learning, artificial intelligence, big data management, applied data science, data science math, and more. German universities have impressive industry ties with companies like Airbus, Allianz Global Investors, ERGO, etc., which provide students with an unparalleled opportunity to learn advanced skills.
According to Statista, a German company specializing in market and consumer data, organizations that have hired 50 or more data scientists have increased from 30% to 60% between 2020 and 2021. The convergence of several technological trends favors the hiring of data science experts.
Data science: relevance in all sectors
The application of data science has spread to various industries. Starting with finance and banking, the sector that has understood the power of data-driven science, industries that are leveraging data science include media, advertising and marketing, healthcare, manufacturing, retail and others.
In addition, 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 bring their products to market with the help of AI, speaks to the vital role that data science in metaverse transformation. Global giants like Amazon and Netflix are also leveraging 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 producers and consumers. Alphabet, which used its algorithmic advantage to propel Google ahead of competitors from older search engines, is now using its formidable data-savvy talent base to expand into new businesses, such as developing self-driving vehicles. Apple has used its unique data, infrastructure edge, and product platform to enter the realm of finance with Apple Pay. Today’s transactions produce valuable information, and acquiring the skills to understand that data can give businesses a head start.
Data Science Career Paths
Five of the world’s largest technology companies â Microsoft, Amazon, Google, Apple and Meta â are the biggest employers of engineers and data scientists.
The field of data science has grown in popularity among young professionals. Some of the best profiles are data engineer, data scientist, data architect, computer and information researcher, data analyst, and machine learning engineer.
In Germany, the median salary for data scientists is â¬66,000, while senior data scientists can earn up to â¬86,000, and senior data scientists can earn over â¬106,000, according to Glassdoor. Additionally, the median annual data scientist salary in the UK and France is â¬56,000 and â¬45,000 respectively.
Technological evolution and the generation of huge amounts of data (Big Data) drive the broad scope of data science. It has found uses in all industries, given that every interaction and exchange in any kind of technological field is possible thanks to a certain set of data.
Revolutionary technological concepts like deep learning, artificial intelligence, Internet of Things and others have amplified the influence of data science on varied fields.
This is exactly why universities around the world are focusing on programs that can help the future workforce make sense of the huge data currently available. Students enrolled in a data science program in Germany can benefit from a variety of specializations, hands-on learning, innovative study modules, and modern facilities.