2. Pros and Cons

Disadvantages of Data Science

While Data Science is a very lucrative career option, there are also various disadvantages to this field. In order to understand the full picture of Data Science, we must also know the limitations of Data Science. Some of them are as follows:

1. Data Science is Blurry Term

Data Science is a very general term and does not have a definite definition. While it has become a buzzword, it is very hard to write down the exact meaning of a Data Scientist. A Data Scientist’s specific role depends on the field that the company is specializing in.

While some people have described Data Science to be the fourth paradigm of Science, few critics have called it a mere rebranding of Statistics.

2. Mastering Data Science is near to impossible

Being a mixture of many fields, Data Science stems from Statistics, Computer Science and Mathematics. It is far from possible to master each field and be equivalently expert in all of them.

While many online courses have been trying to fill the skill-gap that the data science industry is facing, it is still not possible to be proficient at it considering the immensity of the field.

A person with a background in Statistics may not be able to master Computer Science on short notice in order to become a proficient Data Scientist. Therefore, it is an ever-changing, dynamic field that requires the person to keep learning the various avenues of Data Science.

3. Large Amount of Domain Knowledge Required

Another disadvantage of Data Science is its dependency on Domain Knowledge. A person with a considerable background in Statistics and Computer Science will find it difficult to solve Data Science problem without its background knowledge.

The same holds true for its vice-versa. For example, A health-care industry working on an analysis of genomic sequences will require a suitable employee with some knowledge of genetics and molecular biology.

This allows the Data Scientists to make calculated decisions in order to assist the company. However, it becomes difficult for a Data Scientist from a different background to acquire specific domain knowledge. This also makes it difficult to migrate from one industry to another.

4. Arbitrary Data May Yield Unexpected Results

A Data Scientist analyzes the data and makes careful predictions in order to facilitate the decision-making process. Many times, the data provided is arbitrary and does not yield expected results. This can also fail due to weak management and poor utilization of resources.

5. Problem of Data Privacy

For many industries, data is their fuel. Data Scientists help companies make data-driven decisions. However, the data utilized in the process may breach the privacy of customers.

The personal data of clients are visible to the parent company and may at times cause data leaks due to lapse in security. The ethical issues regarding preservation of data-privacy and its usage have been a concern for many industries.

2. Pros and Cons

Advantages of Data Science

The various benefits of Data Science are as follows:

1. It’s in Demand

Data Science is greatly in demand. Prospective job seekers have numerous opportunities. It is the fastest growing job on Linkedin and is predicted to create 11.5 million jobs by 2026. This makes Data Science a highly employable job sector.

2. Abundance of Positions

There are very few people who have the required skill-set to become a complete Data Scientist. This makes Data Science less saturated as compared with other IT sectors.

Therefore, Data Science is a vastly abundant field and has a lot of opportunities. The field of Data Science is high in demand but low in supply of Data Scientists.

3. A Highly Paid Career

Data Science is one of the most highly paid jobs. According to Glassdoor, Data Scientists make an average of $116,100 per year. This makes Data Science a highly lucrative career option.

4. Data Science is Versatile

There are numerous applications of Data Science. It is widely used in health-care, banking, consultancy services, and e-commerce industries. Data Science is a very versatile field. Therefore, you will have the opportunity to work in various fields.

5. Data Science Makes Data Better

Companies require skilled Data Scientists to process and analyze their data. They not only analyze the data but also improve its quality. Therefore, Data Science deals with enriching data and making it better for their company.

6. Data Scientists are Highly Prestigious

Data Scientists allow companies to make smarter business decisions. Companies rely on Data Scientists and use their expertise to provide better results to their clients. This gives Data Scientists an important position in the company.

7. No More Boring Tasks

Data Science has helped various industries to automate redundant tasks. Companies are using historical data to train machines in order to perform repetitive tasks. This has simplified the arduous jobs undertaken by humans before.

8. Data Science Makes Products Smarter

Data Science involves the usage of Machine Learning which has enabled industries to create better products tailored specifically for customer experiences.

For example, Recommendation Systems used by e-commerce websites provide personalized insights to users based on their historical purchases. This has enabled computers to understand human-behavior and take data-driven decisions.

9. Data Science can Save Lives

Healthcare sector has been greatly improved because of Data Science. With the advent of machine learning, it has been made easier to detect early-stage tumors. Also, many other health-care industries are using Data Science to help their clients.

10. Data Science Can Make You A Better Person

Data Science will not only give you a great career but will also help you in personal growth. You will be able to have a problem-solving attitude. Since many Data Science roles bridge IT and Management, you will be able to enjoy the best of both worlds.