Data is the new oil and opportunities in the field have shot up significantly over the last few years. While data science at the undergraduate levels in BTech is one of the most in-demand streams opted by students, many institutes have now started a course in data science management that deals more with the application of the course.
"A course on data science in management is as rigorous as a regular data science course taught at the UG level. In addition, a data science course in management is of a very applied nature. In such a course, the focus is always on the managerial aspect of data science. It deals with how data science can lead to better decision making from a managerial perspective, 11 says Debanjan Mitra, assistant professor, Operation Management, Quantitative Methods and Information System Area, IIM Udaipur.
The management aspect of data science deals with the decision making, optimisation and creation of efficiencies in business processes through the use of data science as analytics tools, says Charanpreet Singh, founder-director, Praxis Business School. "Regular data science courses only teach the subjects, techniques and tools which are part of the curriculum. The application part of these tools is not taught. We also make the students work on real life projects that give them a taste of real business situations." Post Graduate Diploma in Data Science (PGPDS) students continue to receive over 100% hikes over their last drawn salaries, he says.
"Demand for the subject has grown exponenti ally. Organisations across industries now recognise the need to analyse the vast amount of data generated by their every day transactions to streamline their supply chains, bring out better products, ensure quality and numerous other functions. With the pandemic disrupting our lives and a lot of transactions now happening on line, the need for data scientists is only going to grow," adds Singh.
"We are witnessing un precedented demand for data science professionals. Our last batch had 100% placement. The demand is coming not only from the BFSI, Market Research, IT and Consulting sectors, but also from traditional organisations who are looking to make a digital transformation and need the help of data science professionals," says Singh.
Prashant Varma, associate professor of Practice & Business Analytics, School of Management, BML Munjal University says the de- mand for data science related skills is exploding. "Managers in functional doma in with good analytics skills are needed in business. In the analyticsdomain, there is no shortage of jobs. The point is, management graduates should not confuse their positioning with technical graduates," he adds.
Published on :- Times of India
Date :- 06/06/2022
