We have learned a lot of information in the class and this blog. Some classmates might just want to take an elective course, and other people might be interested in the topic. Let me tell you guys why this class is important. It’s not only a useful technique we have to know, big data is also related to our career!! Data scientist, responsible for a number of activities such as data mining and analysis, is becoming the hottest job in the decades. According to a study from Mckinsey Global Institute, retailers can gain operating margins by 60% by analyzing larger data sets to their fullest and the health care industry could reduce annual costs up to 200 billion. Also, there will be a significant shortage of about 140,000 to 190,000 qualified workers to analyze dataset with analytical expertise by 2018. Students who study in computer science do have ability to code good program to analyze data. However, they do understand industries like us. We’ll have great opportunities to compete in the job market if we really understand the concept of big data and use it in our life.
Let’s take a look at the range of analytics salary by region and employment type. The income of these analytics guys is pretty high, especially for North America and Australia. As we can see, the income is low in Asia and E. Europe. This is because their price level is low comparing to other region. In Taiwan, an employee who earns 50,000 USD a year can live very happy!! The income is still arising due to huge demand. Thus, work hard and study hard!!