USDSI® brings to you Data Science Career 2024 Factsheet. Get access to all the information you need to know including salaries, job outlook, and industry trends. bit.ly/48eB8M5

1. DATA
SCIENCE
CAREERS IN 2024
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FACTSHEET

2. TheworldisrapidlyevolvingandoneofthemostinfluencingdrivingforcesbehindthistransformationisDataScience.
Data Science, in brief, refers to the field of study that deals with drawing meaningful insights from raw data. Though
data science has existed in this world for quite some time now, it is still in its growing phase. New tools and trends are
coming up regularly, and data science technology is continuously evolving giving way to several job opportunities
andinnovationfurthermore.
“In 2024, 60% of data for AI will be
synthetic to simulate reality, future
scenarios, and derisk AI”
- Gartner
“Data Science Skills will drive a 27.9% surge in
employment in the field through 2026”
- US Bureau of Labor Statistics
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3. Data Science in 2024
Data Science Platform Market Size,
2022 to 2032 (USD Billion)
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
$ 112.12 $ 129.72
$ 150.22
$ 174.10
$ 201.96
$ 234.48
$ 272.46
$ 368.84
$ 429.70
$ 429.70
$ 501.03
0
50.2
100.4
150.6
200.8
251
301.2
351.4
401.6
451.8
502
Source:
Precedenceresearch.com
Data Science 2023 Brief
Ÿ The Precedence Research stated the global data science platforms market size will reach a market size of $150
billion in 2024 depicting a CAGR of 16.2%.
Ÿ This period will also witness an increased demand for data science professionals. According to the US Bureau of
Labor Statistics, employment in data science will grow 36% by 2031.
Ÿ Another report from McKinsey Global Institute states that Data Science is expected to add a value of around $13
trillion to the global economy by 2030.
Precedence Research- Data Science currently is at its peak with a market size of $129.72 billion
Indeed- The median salary of data scientists as stated in the United States is $125,242
New Vantage Partner- 91.9% of organizations achieved measurable success using data and analytics investment.
Forbes Business Insight- 3 in 5 organizations use data analytics, in one way or another to drive business innovation
Atlan- 56% of data leaders plan to increase their data science budget in 2023
LinkedIn- Machine learning, Python, SQL, and cloud computing are the most in-demand data science skills
CrowdFlower- 91% of data used in data science consists of text data, making unstructured data increasingly important
International Data Corporation- By the end of 2023, 149 Zettabytes of data will have been used in data science
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4. Data Science Platform Market Report, Forecast Period 2023-2030
Ÿ Expected growth rate at CAGR of 16.3%
Ÿ Global Data Science Platform Market to reach the value of USD 132746.18 million during the forecast period
Ÿ Global market covered by on-premises and on-demand types
Ÿ Industries include BFSI, Retail, Healthcare, IT, Transportation, Energy and utilities, Government and Defense
Ÿ Top regional players include North America, Europe, Asia-Pacific, South America, Middle East and Africa, and the Rest
of the world
Top 7 Data Science Roles to Explore in 2024
The data science industry has given rise to several job profiles from renowned data scientists to highly popular data
analysts. Each of these roles performs specific data science jobs catering to different needs of the organizations.
Source:
LinkedIn
Develops and deploys machine-learning models and transforms
machine-learning algorithms into practical applications
MACHINE LEARNING
ENGINEER
Fosters organizations to make strategic business decisions using data
BUSINESS
INTELLIGENCE
ANALYST
Analyzes data and provides valuable insights to support decision-making.
DATA ANALYST
Looks after data science projects; builds machine learning models;
and creates data-driven solutions
DATA SCIENTIST
Designs and maintains the data pipelines by developing proper infrastructure
to facilitate data collection, storage, and preparation of data for analysis.
DATA ENGINEER
Gathers data from a variety of medical research projects and unites
healthcare training with math, programming, and computer science.
CLINICAL DATA
MANAGERS
Checks all data are used in a responsible and ethical manner
DATA ETHICS
SPECIALISTS
“The US will face a shortage of close to 190,000 Data Scientists and 1.5 million
managers and analysts”.
McKinsey Global Institute
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5. TOP 5 INDUSTRIES DESPARATE TO
HIRE PROFESSIONALS
DATA SCIENCE
IN 2024
COMPUTER AND PERIPHERAL
EQUIPMENT MANUFACTURING
SECURITY AND FINANCIAL
INVESTMENTS
MERCHANT WHOLESALERS,
AND DURABLE GOODS
EDUCATION
MONETARY
AUTHORITIES
USD 144,090 PA
USD 143,490 PA
USD 142,300 PA
USD 139,120 PA
USD 126,590 PA
-
-
-
-
-
3 Popular Data Science Leadership Roles
1. Chief Data Officer:
Top-most senior data science leadership role responsible for developing and implementing the organization’s data
strategy. Expected Annual Average Salary: $641,570 (salary.com)
2. Chief Data Scientist:
Works with C-suite executives to solve the most pressing data challenges. Expected Annual Average Salary: $270,000
(salary.com)
3. Director of Data Science:
Leads a team of data scientists and is responsible for setting goals, delegating tasks, and analyzing reports. Expected
Annual Average Salary: $197,081 (salary.com)
(BASED ON US BUREAU OF LABOR STATISTICS RECORD)
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6. DATA SCIENCE ROADMAP
Data Science professionals belong to highly technical profiles with knowledge of their industry and
business. So, having a graduate or post-graduate degree in the following field is recommended:
Top 10 Skills for a Data Scientist
Mathematics Computer Science Statistics Engineering
or
EDUCATIONAL REQUISITES IN THE UNITED STATES
Statistics Programming
Knowledge
Data
Visualization
Machine
Learning
Linear Algebra
and Calculus
Data
Wrangling
Big
Data
Data
Intuition
Story-telling
Skills
Collaboration
Source:
Indeed
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TECHNICAL SKILLS
BACHELOR’S
DEGREE
MASTER’S
DEGREE
DOCTORAL
DEGREE
71% 24% 05%

7. Source:
Based
on
Glassdoor
2023
Record
NON-TECHNICAL SKILLS
Critical
Thinking
Good
Communication
Problem-Solving
Skill
A Good
Team Player
Leadership
Skills
DATA ARCHITECT USD 178,605
-
MACHINE LEARNING ENGINEER USD 151,250
-
DATA SCIENTIST USD 143,835
-
DATA ENGINEER USD 117,865
-
BUSINESS INTELLIGENCE ANALYST USD 102,658
-
DATA VISUALIZATION SPECIALIST USD 84,878
-
DATA ANALYST USD 77,568
-
Job Market and Salary Trends for 2024
The data science job market is currently seeing a boom. Based on a Glassdoor Report 2023, in 2024, data scientists in
the US earn will an annual average salary package of $143,835. And this number will be growing at an astounding
rate.
Annual average salaries of data science specialists in the USA
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8. Top 3 Industries Adopting Data Science in 2024
This is just a teaser of the many ways that data science is being deployed in diversified industries. As data science
continues to disrupt the global market, expect to witness an even greater impact on the global economy and society for
the greater good.
Healthcare
Finance
Retail
33.9
16.2
11.7
Industries
Global Data Science
Market Size
(in USD billion)
Trending Stats
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Ÿ 90% use analytics in clinical areas
Ÿ 85% use analytics in financial areas
Ÿ 77.3% use analytics in operational areas
(as per HIMSS Analytics Survey)
Ÿ 83% of financial institutions are using
data
Ÿ science to improve fraud detection.
76% of financial institutions are using
data
Ÿ science to improve risk management.
(as per SAS Report)
Ÿ 62% of retailers used data science to
improve customer targeting.
Ÿ 59% used this technology to improve
their inventory management
(as per IBM)

9. Data Science Outlook 2024 and Beyond
Ÿ - AI is likely to play an even greater role in data science, as it becomes
The rise of artificial intelligence (AI)
more powerful and sophisticated.
Ÿ - IoT devices generate a vast amount of data, which can be
The growth of the Internet of Things (IoT)
used by data scientists increasing even more opportunities.
Ÿ - The amount of data in the world is growing exponentially because of
The increasing availability of data
the growth of the internet, the rise of social media, and the increasing use of sensors. More data will allow
data scientists to solve even more complex problems.
Ÿ - Data science is used to develop personalized treatment plans for patients based
Personalized medicine
on their individual medical data.
Ÿ - Data scientists are developing algorithms that can process the vast amount of data
Self-driving cars
generated by self-driving cars, such as sensor data and video footage, in order to make decisions about how
to navigate the road safely.
Ÿ - Data scientists are developing algorithms that can identify patterns of fraudulent activity
Fraud detection
in financial transactions.
What’s the big deal about Upskilling in Data Science?
What you learned a few years ago; might not be useful today! With ever-surging data comes the need for newer and
mean techniques to counter and handle the numbers like a pro. This is why Upskilling is the key to a thriving career in
data science; enabling you to stay relevant and making you indispensable. Furthermore, the advent and advancement in
Artificial Intelligence technology has transformed the data science process as well.
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10. Top 5 Data Science Certifications
1. Applied Data Science with Python Specialization - University of Michigan
Learn to use Python for data science tasks such as data cleaning, analysis, and visualization.
2. Graduate Certificate in Data Science – Stanford University
A graduate-level certificate program that teaches students the skills and knowledge they need to become successful
data scientists.
®
3. Certified Lead Data Scientist (CLDS™) – USDSI
The United States Data Science Institute offers this certification for data scientists with experience in leading and
managing data science teams.
®
4. Certified Senior Data Scientist (CSDS™) – USDSI
This certification program is for data scientists with extensive experience in all aspects of data science, including data
engineering, machine learning, and statistical analysis.
5. Professional Graduate Certificate in Data Science – Harvard University
This professional graduate certificate empowers students and professionals with industry-relevant data science
knowledge and expertise.
Top 5 Data Science Degree Courses
1. Bachelor of Science in Computational Data Science - Georgia Institute of Technology
A program that combines computer science and data science to teach students how to develop and implement data-
driven solutions to complex problems.
2. Bachelor of Science in Data Science and Engineering - University of Washington
This course helps students about how to design, build, and deploy data science systems and applications.
3. Bachelors in Marketing Analytics - Moravian University
Students learn to analyze data for enhanced decision-making for marketing professionals
4. Bachelor of Science in Data Science - Canisius University
Students develop core technical skills in mathematics, statistics, computer science, and business intelligence
5. Bachelor of Science in Computer Science (Data Science Concentration) - Southeastern Louisiana University -
College of Science and Technology
The course integrates computer science, maths, and information technology to assist students with data science
concepts
The future is streamed to be fueled with the ever-exploding data.
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