India is experiencing a significant surge in data science and analytics job opportunities, particularly in non-IT sectors, according to a report by Great Learning, an online learning platform. Banking, financial services, and insurance (BFSI) account for one-third of these job openings, driven by cutting-edge technologies like artificial intelligence (AI), machine learning (ML), and big data analytics. These innovations are revolutionizing areas such as risk management, fraud detection, and customer service.
Among the most sought-after positions this year, the role of a business analyst stands out in terms of demand.
The 2023 Jobs Report highlights a noteworthy decline in the share of information technology (IT) sectors in data science and analytics jobs compared to the previous year. Great Learning attributes this decrease to global recessionary trends, particularly in the United States and Europe, where many IT sector clients are based.
Remarkably, domestic non-IT firms have reported a substantial increase in job openings compared to 2022.
The report also indicates a rise in job opportunities in the retail and consumer packaged goods (CPG) as well as pharmaceutical and healthcare sectors.
However, senior-level professionals face a challenging job market with declining job openings for their roles.
The report emphasizes that the majority of data science and analytics job opportunities are concentrated in the 2-5 years and 5-7 years experience brackets. These categories have traditionally been favored due to their adaptability and cost-effectiveness for organizations compared to more senior age groups. Professionals in these brackets possess relevant skills and practical experience, providing them with a competitive edge over fresh graduates.
While Bengaluru continues to dominate the data job market, it is approaching saturation, prompting companies to explore alternative locations such as Delhi-NCR, Hyderabad, and Chennai.
Hari Krishnan Nair, co-founder of Great Learning, commented, “India is undergoing a significant digital transformation to support global business operations, with a strong focus on data-driven decision-making. While this year’s report presents some surprises, we can expect data science and analytics jobs in India to expand and create unique job profiles as economies recover.”
