Companies are fast adopting the data-driven strategies to beat the competition and have the upper hand over their competitors. How well a business handles big data is now the main contributing factor to its success. The CTO of CYBRIC, Mike Kail, says that big data will soon turn into overweight data because of the anticipated boom in technologies like driver-less vehicles, Internet of Things, etc. After realizing the importance of big data, businesses around the world are hurrying up on getting data specialists and scientists on board, creating a huge empty pool of IT jobs waiting to be filled by IT talent. In many cases, because talent is so shallow in a local market, a firm might hire a managed service provider who already has a bench of big data talent to help them implement their data driven strategies. After reading this primer make sure you check out our Specialized IT Staffing eBook!
4 Most Lucrative Big Data Jobs
Here are the four jobs today:
1. Chief Data Officer
This is one of the big data jobs that have been seeing the fastest growth in the past few years. The growth rate of CDO jobs is so high that Gartner estimates that in 90% of the enterprises in 2019 will have recruited a chief data officer. According to Pay Scale, the yearly salary of a big data officer can range from $126,000 to approximately $310,000. A chief data officer joins an organization, understands its existing values and creates a data-driven framework while cascading the importance of data in a company’s success to other leadership personnel and workforce. Having a CDO on board can be costly but Cruz Street Media provides a novel cost-efficient on-demand CDO solution for small and medium sized companies.
2. Data Scientist
Data scientists jump in the unfathomable seas of data and come out with findings that help companies expand and provide the most fitting solutions to the markets they serve. Glassdoor created a list of the best jobs in America in 2018 and ranked data scientist as number one. The job is not just famous but one of the highest paying ones as well with a median base pay of $110,000. Data scientists have to be good with their communication as well because they have to explain the scope and benefits of their findings in order for the company to initiate any investments.
3. Data Analysts
In simple words, it is the data analyst the collects data and makes sense of it and explains it to the organization in plain language. There is often confusion in people’s minds about the differences between data analysts and data scientists. The best way to tell a data analyst from a data scientist is that the scientist creates the questions whose answers help an organization identify its direction as it moves ahead. On the other hand, a data analyst receives questions from the organization and comes up with the answers through deep data analysis and modeling. Including bonuses and incentives, a data analyst can make around $80,000 a year.
4. Data Visualization Specialist
It is becoming clear with time that companies are presently fighting to get their hands on the best IT talent, mainly due to the shortage of IT skill in the market. The skill gap in IT is real with a shortage of 53% in data management and data analytics area. However, its solutions and managed services companies like the team at Cruz Street Digital that are helping medium sized companies remain as relevant competitors and excel among their peers.