As we have read above, data is available and getting generated in all known and unknown fields at speed, never known in history. And same as other professions, the data is also required to be analyzed for different requirements and with different objectives.
A multinational company may choose to analyze data from
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- the human resource point of view for its employees in lacs,
- The product development department may want to understand emerging trends and requirements of customers to design and produce the product for exact specifications and maximum profits.
- The marketing department will like to know the specific traits of prospective customers to create targeted promotional schemes and reach the customer with the least possible expenses and best results.
- Insurance companies analyzing various existing and emerging threats, their impact on the insurance product, percentages, etc. and designing suitable products
- The company operating in tourism field may study data for analyzing the latest fads and desired packages, benefiting from the timely launch
Universities might like to generate, analyze study data from the research perspective. They might collect data from various satellites, and research has done, events happening across the globe, analyzing future developments in various fields of science, geography, economics, social, cultural developments.
An economist would like to understand from data how Artificial Intelligence and new technical developments impacting growth and disturbance in various aspects of human life, how they can be better managed and beneficially utilized.
Governments across the globe who were constrained even to know who are beneficiary of Government schemes, now want to analyze all data available about every citizen. Understanding it from the perspective of social benefit transfers, law and order situations, crime control, population control/management, Defence
When we read this, we also understand there could be hundreds of thousands of multiple specializations, requiring specialized persons handling that specialized field.
It explains to us candidates can choose field according to their knowledge, intellect, and field of interest. And not necessarily only mathematical or coding field. Of course, solving problems with quantitative methods, experimenting with the analysis arrived at will be a necessary part.