Data science experts are required across industries, not just in technology. Therefore, it is no surprise that a report by the US Bureau of Labour Statistics shows that data science needs will create roughly 11.5 million job openings by 2026.
Data Science is an amalgamation of Computational Mathematics, Computer Science, Statistics, and Management. It is restructuring big data with analytical, technical, and scientific skills. A degree in Data Science gives graduates a career edge, whether as a speciality or as a value-add to another major. Most universities and colleges now offer data science and analytics courses, along with statistics, computer science, and information sciences degrees.
Pursuing Data Science in Germany & Scope
With an international reputation for world-class faculty and modern infrastructure, German universities equip students with an in-depth understanding of modules like applied statistics, practical machine learning, database systems, data preparation, and decision analytics, all of which are commonly used in businesses.
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As per QS World University Rankings by Subject (Statistics and Operational Research) 2022, four German universities feature among the top 100. The list comprises Technical University of Munich, Humboldt-Universität zu Berlin, Ludwig-Maximilians-Universität München, and Technische Universität Berlin (TU Berlin). Furthermore, according to US News & World Report, the research-intensive curriculum puts the German education system among the top three.
Students in Germany can pursue data science at both master and bachelor’s levels. The universities offer myriad specializations in Data Science, including Machine Learning, Artificial Intelligence, Big Data Management, Applied Data Science, Mathematics in Data Science, and others. German universities have impressive industrial connections with the likes of Airbus, Allianz Global Investors, ERGO, etc., which offer students an unparalleled opportunity to acquire advanced skills.
According to Statista, a German company specializing in market and consumer data, organizations that have hired 50 data scientists or more have shot up from 30% to 60% between 2020 to 2021. The convergence of several technology trends is promoting the hiring of data science experts.
Data Science: Relevance Across Industries
The application of data science has expanded to various industries. Starting with Finance and Banking, the sector which first understood the power of data-driven science, industries that leverage data science include Media, Advertising & Marketing, Healthcare, Manufacturing, Retail, and others.
Furthermore, it is indispensable in the meta-environment. The metaverse shopping experience, where the data entered by individuals shapes their shopping experience, and how data is being channeled by brands to market their products with the help of AI, talks about the vital role data science plays in transforming the metaverse. Global giants like Amazon and Netflix are also leveraging data to offer a customized 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 push Google ahead of older search engine competitors, is now using its formidable talent base of data experts to expand into new businesses, such as the development of autonomous vehicles. Apple used its unique data, infrastructure edge, and product platform to enter the finance domain with Apple Pay. Today, transactions produce valuable information and acquiring the skills to comprehend that data can give a leg-up to businesses.
Career Paths in Data Science
Five of the world’s biggest tech companies — Microsoft, Amazon, Google, Apple, and Meta— are the biggest employers of data engineers and scientists.
The data science field has gained huge popularity among young professionals. Some top profiles are data engineer, data scientist, data architect, computer and information research scientist, data analyst, and machine learning engineer.
In Germany, the median salary of data scientists is €66,000, whereas senior data scientists can earn up to €86,000, and the lead data scientists can earn over €106,000, as per Glassdoor. Furthermore, the median data scientist’s annual salary in the UK and France is €56,000 and €45,000, respectively.
The Bottom Line Technological evolution and the generation of huge amounts of data (Big Data) are driving the vast scope of Data Science. It has found uses across industries, considering every interaction and exchange in any kind of technological domain is possible because of a certain set of data.
Breakthrough technological concepts like Deep Learning, Artificial Intelligence, the Internet of Things, and others have amplified the influence of data science on varied fields.
This is exactly why universities across the globe are focusing on programs that can help the future workforce make sense of the enormous data that is available now. Students enrolled in a data science program in Germany can benefit from a variety of specializations, practical learning, innovative study modules, and modern facilities.