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There will be a further 28% increase in demand for Data Scientists by 2020
We all know that Data Science is the hot topic right now, everybody wants to be one, and every company wants to hire one.
The numbers don't lie either.
The demand for Data Scientists have increased exponentially over the past 5 years, and IBM says this will continue to at least 2020.
Data scientist boom ahead, says IBM
In 2017, a report by global technology giant IBM predicted that the rapidly evolving world of data science will result in a continued and ongoing demand for data scientists, with a 28% increase in demand by 2020.
So, how many jobs is that?
Just to give this some context, continued advancements in the data science world are predicted to lead to 700,000 openings for data professionals in the US by the start of the next decade. Considering we’re already a month into 2018, that is a lot of data specialists in a short amount of time and the recruitment industry is struggling to source talent to meet demand - with the average data science job remaining open for up to 45 days.
What does that mean for Hiring Managers?
For us as recruiters, with such a large number of vacancies to fill, we’ll need to work faster to secure top talent and work closely with our clients to promote the employer brand. With such a shortage it's a sellers' market, and hiring companies will have to present a much more attractive package to potential recruits to be picked out of the thousands of companies desperate to get ahead in the data science world.
What does this mean for Data Scientists?
There is also pressure on data science professionals themselves, who will need to do their research in order to stay ahead of the competition. The biggest opportunities are undoubtedly in artificial intelligence and machine learning, so engineers will want to increase their knowledge and experience in these fields to secure the top roles.