Five Industries that Employ Data Scientists
According to Forbes, one of the fastest-growing professions of the twenty-first century, the field of data science has become incredibly important to almost every other industry from education and academic research to marketing and medicine. While many data scientists work purely in the field of data science research, many more work in a wide variety of industries. Here are five industries that use data scientists.
Today’s marketing practices have moved mostly online, and marketing endeavors largely take place via social media platforms, content marketing, and email marketing. Data science figures heavily into determining what marketing campaigns are the most and least effective. By viewing and analyzing marketing data, data scientists can determine what platforms are doing well, which email marketing schemas are working, and what practices need work. Many marketing companies hire data scientists to view and compile this data on a routine basis to provide the rest of the marketing time the knowledge they need to make their advertising campaigns more effective, as well as more lucrative.
Data collection and analysis in medicine has become more important than ever – especially with more and more people enrolling in public healthcare services. From the frequency of hospital and doctor visits to the prevalence of certain diseases by locality, region, and nation, data scientists are employed in medicine to collect and analyze patient and procedure data, render that data into readable reports, and submit that data to a variety of sources, from hospital boards to the department of health. Some professionals working directly in medicine, such as nurses, also work as on-the-ground data scientists, helping to collect and analyze that data for submission.
One of the largest industries employing data scientists, data science is critical to the survival and expansion of the finance industry. An immense amount of data is generated each day from financial markets, and data scientists use that bevy of information to help financial executives and professionals direct and manage every sort of financial activity from mutual funds to futures. The financial industry is extremely reliant on solid data analysis for the success and wellbeing of the industry, and many of the top financial firms employ teams of data scientists to ensure their bottom line.
Data analysis of energy consumption is crucial to the management of energy infrastructures such as electrical and nuclear plants, hydropower generators, wind turbines and solar panels. It is also vital to help determine how much recipients should be paying for energy, as well as to ensure that energy consumers are being charged fairly for their energy consumption. Many large energy companies employ data scientists to collect and analyze this data, not only to determine billing practices but to inform alternative energy and company expansions.
Web analytics is yet another powerhouse employing data scientists. Data scientists working in web analytics measure almost everything about web user behavior, from how long they spend on a page and how far they scroll to what links and as they click. Analytics forms a cornerstone of successful marketing as well, and subsequently many data scientists working in analytics will work alongside those in marketing.
Related resource: 30 Best Online Master’s Degrees in Data Science
Industries representing every interest and skill set employ data scientists – and as the role of data science grows, the list of industries that employ data scientists will no doubt continue to grow.