In the last decade, the demand for skilled data scientists has grown significantly. Especially now that businesses are utilising the power of Artificial Intelligence (AI), data professionals are needed to develop predictive AI models and analyse large datasets to uncover patterns and trends.
This article will discuss the reasons for data science demand, and explore some of the career opportunities you can pursue after completing a Master of Applied Data Science. Data science jobs span numerous industries including technology, finance, healthcare, transportation, agriculture, media and more. Keep reading to learn more.
Firstly, what is data science?
Data science is an interdisciplinary field that combines statistical analysis, computer science, and machine learning to extract meaningful insights from complex datasets. Essentially, it’s about using data to solve problems and make better business decisions.
By collecting and studying data, and then applying algorithms and models to find patterns, data scientists transform raw data into actionable knowledge. This helps organisations to understand what’s happening, why it’s happening, and what might happen next.
Say, for example, a retail business employs a data scientist to help increase sales. By looking at customer data, a data scientist can provide insight into what products a customer likes best, and what they might buy in the future.
The growth of data science in recent times is due to the vast amounts of data generated by digital technologies. There’s currently demand for data scientists who have technical skills in modelling and coding, but also the communication skills to be able to explain complex data insights to non-technical stakeholders.
Why data science is in demand
There’s been significant data science growth in recent times because of advances in computing power and the development of sophisticated tools for data analysis. Companies across all industries recognise that data holds valuable insights that can drive better decision-making, improve efficiency, and allow for more sophisticated customer experiences. In addition to this, AI has made it possible to process massive amounts of data more effectively. Data science careers are on the rise as businesses seek to unlock the potential of their data in today’s digital world.
The data science trend has been driven by advancements in technology including cloud computing and machine learning. Innovations in cloud storage and processing power have made it easier and more cost-effective to store and analyse data at scale. Additionally, the rise of machine learning and AI tools allows organisations to uncover deeper insights, automate processes, and build predictive models.
At Monash Online, data science students learn how to use AI to make substantial positive change on a global level, and solve society’s most pressing challenges. Our academics are dedicated to advancing AI and data science, bringing together multidisciplinary teams to explore emerging technologies and their societal impacts.
Growth in data science jobs is also connected to the way big data is transforming the way businesses operate. Big data enhances decision-making by providing real-time insights, making it easier to respond quickly to changes in the market. It also provides valuable insights into customer behaviour and predict future trends with greater accuracy.
What jobs can you get in data science?
Is data science a good career? In this section we’ll look at some of the most in-demand data science jobs, and highlight the industries that will need data science professionals in the future.
Here are some of the jobs you can consider after completing a Master of Applied Data Science:
Data Scientist
A Data Scientist plays a critical role in interpreting and managing complex data to drive decision-making and business strategy. They work closely with stakeholders to identify key questions, build predictive models, and develop algorithms. Essentially, a Data Scientist works to bridge the gap between data and decision-making.
Business Analyst
Business Analysts provide technical solutions that help organisations improve processes, products, and services. Their insights help to optimise workflows, enhance efficiency, and support strategic decision-making for successful project outcomes.
Data Analyst
A Data Analyst focuses on interpreting data by identifying trends, patterns, and anomalies. Using tools like SQL, Excel, and data visualisation software, Data Analysts present their findings through reports and dashboards. Their work supports a range of functions, from improving operational efficiency to enhancing customer experiences and guiding strategic initiatives.
Data Engineer
Data Engineers design and build systems and infrastructure for collecting, storing, and processing large volumes of data. They develop and manage data pipelines and use programming languages such as Python, SQL, and tools like Apache Spark or Hadoop to optimise data systems for speed and reliability.
Key industries for data science jobs
Several industries are expected to have data science demand in the future, including:
- Healthcare and biotechnology: As personalised medicine, genomics, and predictive healthcare grow, data scientists will be crucial for optimising treatment plans.
- Finance and insurance: The financial sector will continue to rely on data scientists for fraud detection, risk management, algorithmic trading, and personalised financial services.
- Retail and E-commerce: Companies will need data scientists to enhance customer experiences.
- Technology and software: As AI and machine learning continue to evolve, tech companies will require data scientists to develop and refine algorithms for applications like natural language processing, image recognition, and automation.
- Energy and utilities: The shift toward renewable energy and smart grid technologies will drive demand for data scientists to optimise energy consumption, predict maintenance needs, and manage resource allocation.
- Transportation and logistics: Data scientists will play a key role in route optimisation, demand forecasting, and the development of autonomous vehicles.
- Government and public sector: Governments will increasingly use data science for public health monitoring, policy development, crime prevention, and disaster response.
What skills are essential for a data science career in 2025?
Here are the skills needed for a successful data science career:
- Statistical analysis and mathematics: Proficiency in statistics, probability, and linear algebra is essential to understand and apply algorithms, build models, and interpret data accurately.
- Programming skills: Data scientists need to be proficient in programming languages like Python, R, and SQL for data manipulation, analysis, and building machine learning models.
- Data wrangling and cleaning: The ability to clean, preprocess, and transform raw data into a usable format is important for accurate analysis.
- Machine learning and AI: Understanding algorithms like decision trees, neural networks, and clustering methods makes it possible to build predictive models and uncover complex patterns in data.
- Data visualisation: Skills in creating visual representations of data using tools like Tableau, Power BI, or Python libraries (e.g. Matplotlib, Seaborn) help communicate insights to stakeholders who may not have a technical background.
- Problem solving and critical thinking: Data scientists need to be able to break down complex problems and devise data-driven solutions.
- Communication skills: Strong written and verbal communication skills are needed to explain technical findings to non-technical stakeholders.
- Big data tools and technologies: Data scientists need to be familiar with tools like Hadoop, Spark, and cloud platforms (e.g. AWS, Azure).
- Database management: Knowledge of relational (SQL) and non-relational (NoSQL) databases is essential for retrieving and managing data from diverse storage systems.
Why choose Monash Online?
Delving deep into data with expert guidance, Monash Online can prepare you for a successful career in data analysis. Data science is in Australia’s top five in-demand and highest-paying jobs, and our course is ranked #34 globally and #2 nationally in the field.
At Monash Online, you’ll study alongside top researchers, giving you insights from experts at the forefront of the data science field. We’re harnessing the power of AI, making an active contribution to the way AI will shape the future.
Explore our data science courses, all offering flexible study:
Our courses are made for careers, with data students working on projects sourced from the industry, rooting course content in reality to simulate professional practice and equip you with career-ready skills.
Discover more about why data scientists are in demand:
