Congratulations on choosing data science as your future career! It’s a great decision.
Data science is a thriving field with a remarkable number of job openings around the globe. The demand is outstripping the supply! That means there are more vacancies than qualified data science professionals.
So this journey you have taken to become a data science leader? You can already visualize why it’s the path to future success. There are a variety of problems you can solve, a whole host of tools you can master, and a broad range of techniques you can learn and then play around with.
The canvas is in front of you – now it’s your turn to pick up the data science brush and start painting your way to a successful data science transition. And the fact that you hold a quant degree – you already have a HUGE advantage in your favor!
Data science may be the sexiest job of the 21st century but like all jobs, even this one requires hard work. A day-to-day hands-on role in data science requires working on the same problem for long hours performing continuous in-depth research. And when you are aiming for a leadership role, you’ll need your experience to shine out.
A data science leadership role requires you to be in continuous communication with the stakeholders as well as other teams. On the soft skills side, you’d want to keep up on your communication skills, storytelling skills, and structured thinking ability. We’ll talk about these skills in a moment.
A typical data science project lifecycle looks like this:
You would be involved from start to end as the leader of a data science team. While you would not be required to know the derivations of machine learning algorithms, you would be expected to understand the working of an end-to-end machine learning pipeline, stakeholder management, structured thinking.
The role of a data scientist is really crucial to the whole organization and the economy as a whole. But the problem is – there is a shortage of “Skilled” data scientists globally. The AI and ML Blackbelt plus program aims to make you an industry-ready certified data science professional with 14+ courses, 39+ real-life projects, and 1:1 mentorship sessions so that you are never off-track.
Data science is a multi-faceted role. There is no one-size-fits-all approach to learning data science. Having said that, there are a few core skills you will need to pick up to make a successful career transition to data science.
One of the biggest characteristics you’re bringing to the table is your quant degree. This is SUPER valuable in the world of data science and it’ll open a lot of doors for you.
Having a quant degree is looked upon favorably by recruiters. Your quant skills will be required when you’re working with machine learning algorithms. You would be able to understand how they work under the hood and that will help you fine-tune your model. Like we said, this is extremely useful in your transition!
Since you bring a lot of experience to the table from your hands-on background (as opposed to freshers transitioning into data science), your skillset would vary depending on your level, your domain and your previous experience.
Here are the key skills you would need:
Some other key skills you must master
Ah, the key question! Now that you know what you need to learn, the attention turns to how you can learn those skills. Let’s look at a few options and suggestions on how to pick up and hone the key skills we mentioned above.
For a data scientist, machine learning is the core skill to have. For a data science leader, you need to at least be comfortable with the different techniques at play and how they work.
Machine learning is used to build predictive models. For example, you want to predict the number of customers you will have in the next month by looking at the past month’s data, you will need to use machine learning algorithms.
You can start with a simple linear and logistic regression model and then move ahead to advanced ensemble models like Random Forest, XGBoost, CatBoost, and so on. It’s a good thing to know the code for these algorithms (which just takes 2-3 lines) but what’s most important is to know how they work. This will help you in hyperparameter tuning and ultimately a model that gives a low error rate.
If you are looking for specialization, Natural Language Processing (NLP) and Computer Vision are two fields that are absolutely thriving right now. Each requires you to dive deep into those specific fields so make sure you’re aware of what you’re getting into.
Needless to say, having hands-on experience with these machine learning algorithms will add a lot of weightage to your transition. As a data science leader, you would be required to take ambiguous business problems and convert them to data or machine learning problems.
This is as good a place to start as any:
As a data science leader, you’ll be spending majority of time formulating business problem from unstructured requirements.
As organizations move to adopt data science in their organization structure, they need someone to turn their unclear requirements into clearcut problem statements.
For example, an E-commerce company wants to increase its user retention. Well, that’s a very uninformative and unstructured problem. A better problem statement maybe – To increase user retention by 20% on the product catalog page by incorporating state-of-the-art recommendation engines.
Problem formulation is one of the most important skills that a data science leader possesses which sets the tone for the entire timeline of the project.
A data science leader must be familiar with all the machine learning algorithms, the best practices, and experience in building state-of-the-art machine learning solutions. Given your hands-on experience, you are surely going to find this skill easy to master.
Data science is no longer a field where knowledge of statistics, programming and basic machine learning algorithms will be sufficient, it has become a multi-faceted field where you need to master topics like recommendation engines, natural language processing, computer vision, deep learning, other state-of-the-art algorithms.
A hands-on grip in building machine learning algorithms will help you in guiding and navigating your team members through the tumultuous path of machine learning. Your hands-on background help you in mastering this skill.
“Good communication is just as stimulating as black coffee, and just as hard to sleep after.” – Anne Morrow Lindbergh
Data Science projects are more of a treasure hunting job, the treasure being the insights you fetch from the data. The question is what is the price of the treasure? Well, that is decided by your stakeholders. The only way to get a good price is to be able to communicate how insightful the results and how can this treasure help them in improving the profits and organization.
This is where your storytelling and communication skills will come in.
Your years of experience will be quite handy here. Your audience, who will quite often be non-technical people, will look to you for solutions. You would need to weave your storytelling skills with your data science knowledge to break down complex data science terms into easy-to-understand results.
There are broadly two methods for communicating your team’s work:
Data science is transforming at lightning speeds that’s how the field has emerged to have high growth over the decade. What may seem relevant today may become obsolete tomorrow. So what differentiates a great data science project with a good one?
Being a data science leader, you will be able to influence the complete lifecycle of the data science project. It is imperative that you keep yourself up-to-date with all the researches happening in the field along with their applications. This will not just help you set apart yourself but also save on the cost of the project as well as the time.
We will be discussing in detail how you can keep up-to-date in this fast-moving industry.
The AI and ML Blackbelt plus program not only covers all the hard skills like Python, machine learning, statistics but also other essential soft skills like structured thinking and storytelling skills. Not just that you also get a resume and interview assistance!
Whatever we have covered so far has a lot to do with understanding different data science concepts. We’ve covered both the technical side (programming, machine learning, statistics, etc.) and the soft skills aspect (structured thinking and storytelling).
So, what’s the next step for you in your transition journey?
It’s time to apply your knowledge in a practical scenario! Yes, you need to marry your theoretical knowledge with hands-on practical experience to truly stand out as a data science transitioner. Given your background and your experience level, the best (and easiest) way to do this is to apply your learnings in your current data-based role.
There are broadly two ways you can do this.
What’s the best way to apply your newly learned skill than to apply them within your own organizational structure. You could begin by entering into high-level leadership discussions and making your contributions to the project. This will help you get the platform and recognition among the high-level leadership.
Data engineering is as important as data science or any other data-based field. You must be well accustomed to this emerging field. Getting hands on a project that requires both data engineering and data science is priceless. This will set you up for a more holistic experience in the field of data science.
The innovation in the field of data science isn’t being born in research labs or conglomerates anymore, it is being driven by the spirits of startups. Looking at the recent trends, startups are popping all around the world to solve real-world problems using AI and ML.
A great experience and exposure is the one where you have complete access and control of the project and its team. This will help you in exploring the complete end-to-end lifecycle of the project. Most importantly, you won’t be limited by bureaucracy.
Open-source has led the way of innovation in the field of AI/ML. You won’t be limited by any kind of resource for your project. Though you may need to tackle other issues such as the storage costs but that’s exactly the point. Being a data science leader!
Data Science projects are a must if you want to make a mark in your career. The AI and ML Blackbelt plus program offers massive 39+ projects that will make sure you get exposure to a variety of projects. Are you ready for all types of tasks that will come ahead in your journey?
This is another essential aspect of working in data science. We’ve seen the majority of transitioners skip this step and focus exclusively on picking up machine learning concepts – don’t do that!
Data science is still a very nascent field. We see major breakthroughs happening on a regular basis (sometimes a weekly basis!) and it can become difficult to keep up with all that’s happening. But if you can find time to catch up on the latest developments, you’ll already have an edge on your competition.
Let us give you an example. The Natural Language Processing (NLP) field has come a long way in the last 3 years (since 2017). We see a new language model seemingly every week that builds on the last major breakthrough. If you can keep up with this pace, if you can spend a bit of time understanding what’s going on, you’ll gain invaluable knowledge that your peers won’t have.
So what are the different ways in which you can stay up to date in the vast space of data science? Here are three suggestions based on our experience:
Making a career switch to data science for getting a salary bump is entirely justified. However, it isn’t as straightforward as you might think. There are certain things, such as work experience and your current domain, that will play a MASSIVE role in deciding your salary post-transition.
The higher you climb in the professional ladder, the more compensation you’ll expect. But coming from a non-data science field will definitely have an impact on your expectations.
We highly recommend looking for a data science leadership position in your current organization itself. This gives you a great opportunity to learn the ins and outs of the function without having to look for external roles. You can still stay under the organization’s compensation structure.
If this is not possible, then try to at least stay in the same domain. This gives you the advantage of knowing WHERE to apply data science. Because of the varying levels of experience, people will bring to a data science leadership role, it’s difficult to establish a benchmark for the salary range. But it is still a well-compensated field for the most part. 🙂
Afraid of all the challenges that are supposed to come in your way? Well not anymore, how about an expert mentor that will provide you with a personalized learning path that is in sync with your goals and keeps track of your progress? It is possible with the AI and ML Blackbelt plus program which comes along with 75+ mentorship sessions.
There has never been a better time to become a data scientist. Data Science is a booming industry but it also comes with its own set of challenges. Keeping in mind that you come from a hands-on data science background, it should help you overcome the majority of challenges, however, we’ll list a few that need your special attention. If you have reached here, we know you can work out through obstacles. Let’s take them up one by one –
Now that you are aware of the various components you’ll need to put together to make this career transition, are you prepared to buckle up and take this thrilling journey? The payoff is immense but as you might have gathered, you’ll face plenty of obstacles along the way. Your eventual success will come down to how well you can get past these hurdles.