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Top Job Roles With Their Salary Data in the World of Data Science for 2020–2021

Data Science requires the expertise of professionals who possess the skill of collecting, structuring, storing, handling and analyzing data, allowing individuals and organizations to make decisions based on insights generated from the data. Data science is woven into the fabric of our daily lives in myriad ways that we may not even be aware of; starting from the online purchases we make, our social media feeds, the music we listen to or even the movie recommendations that we are shown online.  For several years in a row, the job of a data scientist has been hailed as the “hottest job of the 21st century”. Data scientists are among the highest paid resources in the IT industry. According to Glassdoor, the average data scientist’s salary is $113,436. With the growth of data, the demand for data science job roles in companies has been rising at an accelerated pace.  How Data Science is a powerful career choice The landscape of a data science job is promising and full of opportunities spanning different industries. The nature of the job allows an individual to take on flexible remote jobs and also to be self-employed.  The field of data science has grown exponentially in a very short time, as companies have come to realize the importance of gathering huge volumes of data from websites, devices, social media platforms and other sources, and using them for business benefits. Once the data is made available, data scientists use their analytical skills, evaluate data and extract valuable information that allows organizations to enhance their innovations. A data scientist is responsible for collecting, cleansing, modifying and analyzing data into meaningful insights. In the first phase of their career, a data scientist generally works as a statistician or data analyst. Over many years of experience, they evolve to be data scientists.  The ambit of data has been increasing rapidly which has urged companies to actively recruit data scientists to harness and leverage insights from the huge quantities of valuable data available, enabling efficiency in processes and operations and driving sales and growth.  In the future, data may also emerge as the turning point of the world economy. So, pursuing a career in data science would be very useful for a computer enthusiast, not only because it pays well but also since it is the new trend in IT. According to the Bureau of Labor Statistics (BLS), jobs for computer and information research scientists, as well as data scientists are expected to grow by 15 percent by the year 2028. Who is a Data Scientist & What Do They Do? Data Scientists are people with integral analytical data expertise together with complex problem-solving skills, besides the curiosity to explore a wide range of emerging issues.  They are considered to be the best of both the sectors – IT and business, which makes them extremely skilled individuals whose job roles straddle the worlds of computer science, statistics, and trend analysis. Because of this surging demand for data identification and analysis in various tech fields like AI, Machine Learning, and Data Science, the salary of a data scientist is one of the highest in the world. Requisite skills for a data scientist Before we see the different types of jobs in the data analytics field, we must be aware of the prerequisite skills that make up the foundation of a data scientist: Understanding of data – As the name suggests, Data Science is all about data. You need to understand the language of data and the most important question you must ask yourself is whether you love working with data and crunching numbers. And if your answer is “yes”, then you’re on the right track. Understanding of algorithms or logic – Algorithms are a set of instructions that are given to a computer to perform a particular task. All Machine Learning models are based on algorithms, so it is quite an essential prerequisite for a would-be data scientist to understand the logic behind it.  Understanding of programming – To be an expert in data science, you do not need to be an expert coder. However, you should have the foundational programming knowledge which includes variables, constants, data types, conditional statements, IO functions, client/server, Database, API, hosting, etc. If you feel comfortable working with these and you have your coding skills sorted, then you’re good to go. Understanding of Statistics – Statistics is one of the most significant areas in the field of Data Science. You should be well aware of terminologies such as mean, median, mode, standard deviation, distribution, probability, Bayes’ theorem, and different Statistical tests like hypothesis testing, chi-square, ANOVA, etc. Understanding of Business domain – If you do not have an in-depth working knowledge of the business domain, it will not really prove to be an obstacle in your journey of being a data scientist. However, if you have the primitive understanding of the specific business area you are working for, it will be an added advantage that can take you ahead. Apart from all the above factors, you need to have good communication skills which will help the entire team to get on the same page and work well together.Data Science Job Roles  Data science experts are in demand in almost every job sector, and are not confined to the IT industry alone.  Let us look at some major job roles, associated responsibilities , and the salary range: 1. Data ScientistsA Data Scientist’s job is as exciting as it is rewarding. With the help of Machine Learning, they handle raw data and analyze it with various algorithms such as regression, clustering, classification, and so on. They are able to arrive at insights that are essential for predicting and addressing complex business problems.  Responsibilities of Data Scientists The responsibilities of Data Scientists are outlined below: Collecting huge amounts of organized and unorganized data and converting them into useful insights. Using analytical skills like text analytics, machine learning, and deep learning to identify potential solutions which will help in the growth of organizations. Following a data-driven approach to solve complex problems.  Enhancing data accuracy and efficiency by cleansing and validating data. Using data visualization to communicate significant observations to the organization’s stakeholders. Data Scientists Salary Range According to Glassdoor, the average Data Scientist salary is $113,436 per annum. The median salary of an entry-level professional can be around $95,000 per annum. However, early level data scientists with 1 to 4 years' experience can get around $128,750 per annum while the median salary for those with more experience ranging around 5 to 9 years  can rise to an average of $165,000 per annum. 2. Data Engineers  A Data Engineer is the one who is responsible for building a specific software infrastructure for data scientists to work. They need to have in-depth knowledge of technologies like Hadoop and Big Data such as MapReduce, Hive, and SQL. Half of the work of Data Engineers is Data Wrangling and it is advantageous if they have a software engineering background. Responsibilities of Data Engineers  The responsibilities of Data Engineers are described below: Collecting data from different sources and then consolidating and cleansing it. Developing essential software for extracting, transforming, and loading data using SQL, AWS, and Big Data. Building data pipelines using machine learning algorithms and statistical techniques. Developing innovative ways to enhance data efficiency and quality. Developing, testing and maintaining data architecture. Required Skills for Data Engineers  There are certain skill sets that data engineers need to have: Strong skills in analytics to manage and work with massive unorganized datasets. Powerful programming skills in trending languages like Python, Java, C++, Ruby, etc. Strong knowledge of database software like SQL and experience in relational databases. Managerial and organizational skills along with fluency in various databases.  Data Engineers’ Salary Range According to Glassdoor, the average salary of a Data Engineer is $102,864 in the USA. Reputed companies like Amazon, Airbnb, Spotify, Netflix, IBM value and pay high salaries to data engineers. Entry-level data and mid-range data engineers get an average salary between $110,000 and $137,770 per annum. However, with experience, a data engineer can get up to $155,000 in a year. 3. Data Analyst As the name suggests, the job of a Data Analyst is to analyze data. A data analyst collects, processes, and executes statistical data analyses which help business users to develop meaningful insights. This process requires creating systems using programming languages like Python, R or SAS. Companies ranging from IT, healthcare, automobile, finance, insurance employ Data Analysts to run their businesses efficiently.  Responsibilities of Data Analysts  The responsibilities of Data Analysts are described below: Identifying correlations and gathering valuable patterns through data mining and analyzing data. Working with customer-centric algorithms and modifying them to suit individual customer demands. Solving certain business problems by mapping data from numerous sources and tracing them. Creating customized models for customer-centric market strategies, customer tastes, and preferences. Conducting consumer data research and analytics by deploying statistical analysis. Data Analyst Salary Range According to Glassdoor, the national average salary of a Data Analyst is $62,453 in the United States. The salaries of an entry-level data analyst start at  $34,5000 per year or $2875 per month.  Glassdoor states that a junior data analyst earns around $70,000 per year and experienced senior data analysts can expect to be paid around $107,000 per year which is roughly $8916 per month. Key Reasons to Become a Data Scientist Becoming a Data Scientist is a dream for many data enthusiasts. There are some basic reasons for this: 1. Highly in-demand field The job of Data Science is hailed as one of the most sought after jobs for 2020 and according to an estimate, it is predicted that this field would generate around 11.5 million jobs by the year 2026. The demand for expertise in data science is increasing while the supply is too low.  This shortage of qualified data scientists has escalated their demand in the market. A survey by the MIT Sloan Management Review indicates that 43 percent of companies report that a major challenge to their growth has been a lack of data analytic skills. 2. Highly Paid & Diverse Roles Since data analytics form the central part of decision-making, companies are willing to hire larger numbers of data scientists who can help them to make the right decisions that will boost business growth. Since it is a less saturated area with a mid-level supply of talents, various opportunities have emerged that require diverse skill sets. According to Glassdoor, in the year 2016,  data science was the highest-paid field across industries. 3. Evolving workplace environments With the arrival of technologies like Artificial Intelligence and Robotics which fall under the umbrella of data science, a vast majority of manual tasks have been replaced with automation.  Machine Learning has made it possible to train machines to perform repetitive tasks , freeing up humans to focus on critical problems that need their attention. Many new and exciting technologies have emerged within this field such as Blockchain, Edge Computing, Serverless Computing, and others.  4. Improving product standards The rigorous use of Machine Learning algorithms for regression, classification recommendation problems like decision trees, random forest, neural networks, naive Bayes etc has boosted the customer experiences that companies desire to have. One of the best examples of such development is the E-commerce sites that use intelligent Recommendation Systems to refer products and provide customer-centric insights depending upon their past purchases. Data Scientists serve as a trusted adviser to such companies by identifying the preferred target audience and handling marketing strategies. 5. Helping the world In today’s world, almost everything revolves around data. Data Scientists extract hidden information from massive lumps of data which helps in decision making across industries ranging from finance and healthcare to manufacturing, pharma and engineering . Organizations are equipped with data driven insights that boost productivity and enhance growth, even as they optimize resources and mitigate potential risks. Data Science catalyzes innovation and research, bringing positive changes across the world we live in. Factors Affecting a Data Scientist’s Salary The salaries of Data Scientists can depend upon several factors. Let us study them one by one and understand their significance: Data Scientist Salary by Location The number of job opportunities and the national data scientist salary for data innovators is the highest in Switzerland in the year 2020, followed by the Netherlands and United Kingdom. However, since Silicon Valley in the United States is the hub of new technological innovations, it is considered to generate the most jobs for startups in the world, followed by Bangalore in India. A data scientist’s salary in Silicon Valley or Bangalore is likely to be higher than in other countries. Below are the highest paying countries for data scientist roles along with their average annual data science salary: Switzerland$115,475Netherlands$68,880Germany$64,024United Kingdom$59,781Spain$30,050Italy$37,785Data Scientist Salary by ExperienceA career in the field of data science is very appealing to young IT professionals. Starting salaries are very lucrative, and there is incremental growth in salary  with  experience. Salaries of a data scientist depend on the expertise, as well as the years of experience: Entry-level data scientist salary – The median entry-level salary for a data scientist is around $95,000 per year which is quite high. Mid-level data scientist salary –   The median salary for a mid-level data scientist having experience of around 1 - 4 years is $128,750 per year. If the data scientist is in a managerial position, the average salary rises upto $185,000 per year. Experienced data scientist salary –  The median salary for an experienced data scientist having experience of around 5 - 9 years is $128,750 per year whereas the median salary of an experienced manager is much higher; around $250,000 per year. Data Scientist Salary by Skills There are some core competencies that will help you to shine in your career as a Data Scientist, and if you want to get the edge over your peers you should consider polishing up these skills: Python is the most crucial and coveted skill which data scientists must be familiar with, followed by R. The average salary in the US for  Python programmers is $120,365 per annum. If you are well versed in both Data Science and Big Data, instead of just one among them, your salary is likely to increase by at least 25 percent . The users of innovative technology like the Statistical Analytical System get a salary of around $77,842. On the other hand, users of software analysis software like SPSS have a pay scale of  $61,452 per year. Machine Learning Engineers on the average earn around $111,855 per year. However, with more experience in Machine Learning along with knowledge in Python, you can earn around $146,085 per annum. A Data Scientist with domain knowledge of Artificial Intelligence can earn an annual salary between $100,000 to $150,000. Extra skills in programming and innovative technologies have always been a value-add that can enhance your employability. Pick skills that are in-demand to see your career graph soar. Data Scientist Salary by Companies Some of the highest paying companies in the field of Data Science are tech giants like Facebook, Amazon, Apple, and service companies like McGuireWoods, Netflix or Airbnb.  Below is a list of top companies with the highest paying salaries: McGuireWoods$165,114Amazon$164,114Airbnb$154,879Netflix$147,617 Apple$144,490Twitter$144,341Walmart$144,198Facebook$143,189eBay$143,005Salaries of Other Related Roles Various other job roles associated with Data Science are also equally exciting and rewarding. Let us look at some of them and their salaries: Machine Learning Engineer$114,826Machine Learning Scientist$114,121Applications Architect$113,757Enterprise Architect$110,663Data Architect$108,278Infrastructure Architect$107,309Business Intelligence Developer$81,514Statistician$76,884ConclusionLet us look at what we have learned in this article so far: What is Data Science? The job of a Data Scientist Pre-requisite skills for a Data Scientist Different job roles Key reasons for becoming a Data Scientist Salary depending upon different factors Salary of other related roles The field of Data Science is ripe in terms of opportunities for Data Scientists, Data Engineers, and Data Analysts. The figures mentioned in this article are not set in stone and may vary depending upon the skills you possess, experience you have and various other factors. With more experience and skills, your salary is bound to increase by a certain percentage every year. Data science is a field that will revolutionize the world in the coming years and you can have a share of this very lucrative pie with the right education qualifications, skills, experience and training.  

Top Job Roles With Their Salary Data in the World of Data Science for 2020–2021

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Top Job Roles With Their Salary Data in the World of Data Science for 2020–2021

Data Science requires the expertise of professionals who possess the skill of collecting, structuring, storing, handling and analyzing data, allowing individuals and organizations to make decisions based on insights generated from the data. Data science is woven into the fabric of our daily lives in myriad ways that we may not even be aware of; starting from the online purchases we makeour social media feeds, the music we listen to or even the movie recommendations that we are shown online 

For several years in a row, the job of a data scientist has been hailed as the “hottest job of the 21st century”. Data scientists are among the highest paid resources in the IT industry. According to Glassdoor, the average data scientist’s salary is $113,436. With the growth of data, the demand for data science job roles in companies has been rising at an accelerated pace.  

How Data Science is a powerful career choice 

The landscape of a data science job is promising and full of opportunities spanning different industries. The nature of the job allows an individual to take on flexible remote jobs and also to be self-employed 

The field of data science has grown exponentially in a very short time, as companies have come to realize the importance of gathering huge volumes of data from websites, devices, social media platforms and other sources, and using them for business benefits. Once the data is made available, data scientists use their analytical skills, evaluate data and extract valuable information that allows organizations to enhance their innovations. 

A data scientist is responsible for collecting, cleansing, modifying and analyzing data into meaningful insights. In the first phase of their career, a data scientist generally works as a statistician or data analyst. Over many years of experience, they evolve to be data scientists.  

The ambit of data has been increasing rapidly which has urged companies to actively recruit data scientists to harness and leverage insights from the huge quantities of valuable data available, enabling efficiency in processes and operations and driving sales and growth 

In the future, data may also emerge as the turning point of the world economy. So, pursuing a career in data science would be very useful for a computer enthusiast, not only because it pays well but also since it is the new trend in IT. 

According to the Bureau of Labor Statistics (BLS), jobs for computer and information research scientists, as well as data scientists are expected to grow by 15 percent by the year 2028. 

Who is a Data Scientist & What Do They Do? 

Data Scientists are people with integral analytical data expertise together with complex problem-solving skills, besides the curiosity to explore a wide range of emerging issues.  

They are considered to be the best of both the sectors – IT and business, which makes them extremely skilled individuals whose job roles straddle the worlds of computer sciencestatistics, and trend analysis. Because of this surging demand for data identification and analysis in various tech fields like AI, Machine Learning, and Data Science, the salary of a data scientist is one of the highest in the world. 

Requisite skills for a data scientist 

Before we see the different types of jobs in the data analytics field, we must be aware of the prerequisite skills that make up the foundation of a data scientist: 

  • Understanding of data – As the name suggests, Data Science is all about data. You need to understand the language of data and the most important question you must ask yourself is whether you love working with data and crunching numbers. And if your answer is “yes”, then you’re on the right track. 
  • Understanding of algorithms or logic – Algorithms are a set of instructions that are given to a computer to perform a particular task. All Machine Learning models are based on algorithms, so it is quite an essential prerequisite for a would-be data scientist to understand the logic behind it.  
  • Understanding of programming  To be an expert in data science, you do not need to be an expert coder. However, you should have the foundational programming knowledge which includes variables, constants, data types, conditional statements, IO functions, client/server, Database, API, hosting, etc. If you feel comfortable working with these and you have your coding skills sorted, then you’re good to go. 
  • Understanding of Statistics  Statistics is one of the most significant areas in the field of Data Science. You should be well aware of terminologies such as mean, median, mode, standard deviation, distribution, probability, Bayes’ theorem, and different Statistical tests like hypothesis testing, chi-square, ANOVA, etc. 
  • Understanding of Business domain – If you do not have an in-depth working knowledge of the business domain, it will not really prove to be an obstacle in your journey of being a data scientist. However, if you have the primitive understanding of the specific business area you are working for, it will be an added advantage that can take you ahead. 

Apart from all the above factors, you need to have good communication skills which will help the entire team to get on the same page and work well together.

Data Science Job Roles  

Data science experts are in demand in almost every job sector, and are not confined to the IT industry alone.  

Let us look at some major job roles, associated responsibilities , and the salary range: 

1. Data Scientists

A Data Scientist’s job is as exciting as it is rewarding. With the help of Machine Learning, they handle raw data and analyze it with various algorithms such as regression, clustering, classification, and so on. They are able to arrive at insights that are essential for predicting and addressing complex business problems.  

Responsibilities of Data Scientists 

The responsibilities of Data Scientists are outlined below: 

  • Collecting huge amounts of organized and unorganized data and converting them into useful insights. 
  • Using analytical skills like text analytics, machine learning, and deep learning to identify potential solutions which will help in the growth of organizations. 
  • Following a data-driven approach to solve complex problems.  
  • Enhancing data accuracy and efficiency by cleansing and validating data. 
  • Using data visualization to communicate significant observations to the organization’s stakeholders. 

Data Scientists Salary Range 

According to Glassdoor, the average Data Scientist salary is $113,436 per annum. The median salary of an entry-level professional can be around $95,000 per annum. However, early level data scientists with 1 to 4 years' experience can get around $128,750 per annum while the median salary for those with more experience ranging around 5 to 9 years  can rise to an average of $165,000 per annum. 

2. Data Engineers  

A Data Engineer is the one who is responsible for building a specific software infrastructure for data scientists to work. They need to have in-depth knowledge of technologies like Hadoop and Big Data such as MapReduce, Hive, and SQL. Half of the work of Data Engineers is Data Wrangling and it is advantageous if they have software engineering background. 

Responsibilities of Data Engineers  

The responsibilities of Data Engineers are described below: 

  • Collecting data from different sources and then consolidating and cleansing it. 
  • Developing essential software for extracting, transforming, and loading data using SQL, AWS, and Big Data. 
  • Building data pipelines using machine learning algorithms and statistical techniques. 
  • Developing innovative ways to enhance data efficiency and quality. 
  • Developing, testing and maintaining data architecture. 

Required Skills for Data Engineers  

There are certain skill sets that data engineers need to have: 

  • Strong skills in analytics to manage and work with massive unorganized datasets. 
  • Powerful programming skills in trending languages like Python, Java, C++, Ruby, etc. 
  • Strong knowledge of database software like SQL and experience in relational databases. 
  • Managerial and organizational skills along with fluency in various databases.  

Data Engineers Salary Range 

According to Glassdoor, the average salary of a Data Engineer is $102,864 in the USA. Reputed companies like Amazon, Airbnb, Spotify, Netflix, IBM value and pay high salaries to data engineers. Entry-level data and mid-range data engineers get an average salary between $110,000 and $137,770 per annum. However, with experience, a data engineer can get up to $155,000 in a year. 

3. Data Analyst 

As the name suggests, the job of a Data Analyst is to analyze data. A data analyst collects, processes, and executes statistical data analyses which help business users to develop meaningful insights. This process requires creating systems using programming languages like Python, R or SAS. Companies ranging from IT, healthcare, automobile, finance, insurance employ Data Analysts to run their businesses efficiently.  

Responsibilities of Data Analysts  

The responsibilities of Data Analysts are described below: 

  • Identifying correlations and gathering valuable patterns through data mining and analyzing data. 
  • Working with customer-centric algorithms and modifying them to suit individual customer demands. 
  • Solving certain business problems by mapping data from numerous sources and tracing them. 
  • Creating customized models for customer-centric market strategies, customer tastes, and preferences. 
  • Conducting consumer data research and analytics by deploying statistical analysis. 

Data Analyst Salary Range 

According to Glassdoor, the national average salary of a Data Analyst is $62,453 in the United States. The salaries of an entry-level data analyst start at  

$34,5000 per year or $2875 per month.  Glassdoor states that a junior data analyst earns around $70,000 per year and experienced senior data analysts can expect to be paid around $107,000 per year which is roughly $8916 per month. 

Key Reasons to Become a Data Scientist 

Becoming a Data Scientist is a dream for many data enthusiasts. There are some basic reasons for this: 

1. Highly in-demand field 

The job of Data Science is hailed as one of the most sought after jobs for 2020 and according to an estimate, it is predicted that this field would generate around 11.5 million jobs by the year 2026. The demand for expertise in data science is increasing while the supply is too low.  This shortage of qualified data scientists has escalated their demand in the market. A survey by the MIT Sloan Management Review indicates that 43 percent of companies report that a major challenge to their growth has been a lack of data analytic skills. 

2. Highly Paid & Diverse Roles 

Since data analytics form the central part of decision-making, companies are willing to hire larger numbers of data scientists who can help them to make the right decisions that will boost business growth. Since it is a less saturated area with a mid-level supply of talents, various opportunities have emerged that require diverse skill sets. According to Glassdoor, in the year 2016,  data science was the highest-paid field across industries. 

3. Evolving workplace environments 

With the arrival of technologies like Artificial Intelligence and Robotics which fall under the umbrella of data science, a vast majority of manual tasks have been replaced with automation.  Machine Learning has made it possible to train machines to perform repetitive tasks , freeing up humans to focus on critical problems that need their attention. Many new and exciting technologies have emerged within this field such as Blockchain, Edge Computing, Serverless Computing, and others.  

4. Improving product standards 

The rigorous use of Machine Learning algorithms for regression, classification recommendation problems like decision trees, random forest, neural networks, naive Bayes etc has boosted the customer experiences that companies desire to have. One of the best examples of such development is the E-commerce sites that use intelligent Recommendation Systems to refer products and provide customer-centric insights depending upon their past purchases. Data Scientists serve as a trusted adviser to such companies by identifying the preferred target audience and handling marketing strategies. 

5. Helping the world 

In today’s world, almost everything revolves around data. Data Scientists extract hidden information from massive lumps of data which helps in decision making across industries ranging from finance and healthcare to manufacturing, pharma and engineering . Organizations are equipped with data driven insights that boost productivity and enhance growth, even as they optimize resources and mitigate potential risks. Data Science catalyzes innovation and research, bringing positive changes across the world we live in. 

Factors Affecting Data Scientist’s Salary 

The salaries of Data Scientists can depend upon several factors. Let us study them one by one and understand their significance: 

Data Scientist Salary by Location 

The number of job opportunities and the national data scientist salary for data innovators is the highest in Switzerland in the year 2020, followed by the Netherlands and United Kingdom. However, since Silicon Valley in the United States is the hub of new technological innovations, it is considered to generate the most jobs for startups in the world, followed by Bangalore in India. A data scientist’s salary in Silicon Valley or Bangalore is likely to be higher than in other countries. Below are the highest paying countries for data scientist roles along with their average annual data science salary: 

Switzerland$115,475
Netherlands$68,880
Germany$64,024
United Kingdom$59,781
Spain$30,050
Italy$37,785

Data Scientist Salary by Experience

A career in the field of data science is very appealing to young IT professionals. Starting salaries are very lucrative, and there is incremental growth in salary  with  experience. Salaries of a data scientist depend on the expertise, as well as the years of experience: 

  • Entry-level data scientist salary – The median entry-level salary for a data scientist is around $95,000 per year which is quite high. 
  • Mid-level data scientist salary    The median salary for a mid-level data scientist having experience of around 1 - 4 years is $128,750 per year. If the data scientist is in a managerial position, the average salary rises upto $185,000 per year. 
  • Experienced data scientist salary   The median salary for an experienced data scientist having experience of around 5 - 9 years is $128,750 per year whereas the median salary of an experienced manager is much higher; around $250,000 per year. 

Data Scientist Salary by Skills 

There are some core competencies that will help you to shine in your career as a Data Scientist, and if you want to get the edge over your peers you should consider polishing up these skills: 

  • Python is the most crucial and coveted skill which data scientists must be familiar with, followed by R. The average salary in the US for  Python programmers is $120,365 per annum. 
  • If you are well versed in both Data Science and Big Data, instead of just one among them, your salary is likely to increase by at least 25 percent . 
  • The users of innovative technology like the Statistical Analytical System get a salary of around $77,842. On the other hand, users of software analysis software like SPSS have a pay scale of  $61,452 per year. 
  • Machine Learning Engineers on the average earn around $111,855 per year. However, with more experience in Machine Learning along with knowledge in Python, you can earn around $146,085 per annum. A Data Scientist with domain knowledge of Artificial Intelligence can earn an annual salary between $100,000 to $150,000. 

Extra skills in programming and innovative technologies have always been a value-add that can enhance your employability. Pick skills that are in-demand to see your career graph soar. 

Data Scientist Salary by Companies 

Some of the highest paying companies in the field of Data Science are tech giants like Facebook, Amazon, Apple, and service companies like McGuireWoods, Netflix or Airbnb.  

Below is a list of top companies with the highest paying salaries: 

McGuireWoods$165,114
Amazon$164,114
Airbnb$154,879
Netflix$147,617 
Apple$144,490
Twitter$144,341
Walmart$144,198
Facebook$143,189
eBay$143,005

Salaries of Other Related Roles 

Various other job roles associated with Data Science are also equally exciting and rewarding. Let us look at some of them and their salaries: 

Machine Learning Engineer$114,826
Machine Learning Scientist$114,121
Applications Architect$113,757
Enterprise Architect$110,663
Data Architect$108,278
Infrastructure Architect$107,309
Business Intelligence Developer$81,514
Statistician$76,884

Conclusion

Let us look at what we have learned in this article so far: 

  • What is Data Science? 
  • The job of a Data Scientist 
  • Pre-requisite skills for a Data Scientist 
  • Different job roles 
  • Key reasons for becoming a Data Scientist 
  • Salary depending upon different factors 
  • Salary of other related roles 

The field of Data Science is ripe in terms of opportunities for Data Scientists, Data Engineers, and Data Analysts. 

The figures mentioned in this article are not set in stone and may vary depending upon the skills you possess, experience you have and various other factors. With more experience and skills, your salary is bound to increase by a certain percentage every year. Data science is a field that will revolutionize the world in the coming years and you can have a share of this very lucrative pie with the right education qualifications, skills, experience and training.  

Priyankur

Priyankur Sarkar

Data Science Enthusiast

Priyankur Sarkar loves to play with data and get insightful results out of it, then turn those data insights and results in business growth. He is an electronics engineer with a versatile experience as an individual contributor and leading teams, and has actively worked towards building Machine Learning capabilities for organizations.

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Top Data Analytics Certifications

What is data analytics?In the world of IT, every small bit of data count; even information that looks like pure nonsense has its significance. So, how do we retrieve the significance from this data? This is where Data Science and analytics comes into the picture.  Data Analytics is a process where data is inspected, transformed and interpreted to discover some useful bits of information from all the noise and make decisions accordingly. It forms the entire basis of the social media industry and finds a lot of use in IT, finance, hospitality and even social sciences. The scope in data analytics is nearly endless since all facets of life deal with the storage, processing and interpretation of data.Why data analytics? Data Analytics in this Information Age has nearly endless opportunities since literally everything in this era hinges on the importance of proper processing and data analysis. The insights from any data are crucial for any business. The field of data Analytics has grown more than 50 times from the early 2000s to 2021. Companies specialising in banking, healthcare, fraud detection, e-commerce, telecommunication, infrastructure and risk management hire data analysts and professionals every year in huge numbers.Need for certification:Skills are the first and foremost criteria for a job, but these skills need to be validated and recognised by reputed organisations for them to impress a potential employer. In the field of Data Analytics, it is pretty crucial to show your certifications. Hence, an employer knows you have hands-on experience in the field and can handle the workload of a real-world setting beyond just theoretical knowledge. Once you get a base certification, you can work your way up to higher and higher positions and enjoy lucrative pay packages. Top Data Analytics Certifications Certified Analytics Professional (CAP) Microsoft Certified Azure Data Scientist Associate Cloudera Certified Associate (CCA) Data Analyst Associate Certified Analytics Professional (aCAP) SAS Certified Data Analyst (Using SAS91. Certified Analytics Professional (CAP)A certification from an organisation called INFORMS, CAP is a notoriously rigorous certification and stands out like a star on an applicant's resume. Those who complete this program gain an invaluable credential and are able to distinguish themselves from the competition. It gives a candidate a comprehensive understanding of the analytical process's various fine aspects--from framing hypotheses and analytic problems to the proper methodology, along with acquisition, model building and deployment process with long-term life cycle management. It needs to be renewed after three years.The application process is in itself quite complex, and it also involves signing the CAP Code of Ethics before one is given the certification. The CAP panel reviews each application, and those who pass this review are the only ones who can give the exam.  Prerequisite: A bachelor’s degree with 5 years of professional experience or a master's degree with 3 years of professional experience.  Exam Fee & Format: The base price is $695. For individuals who are members of INFORMS the price is $495. (Source) The pass percentage is 70%. The format is a four option MCQ paper. Salary: $76808 per year (Source) 2. Cloudera Certified Associate (CCA) Data Analyst Cloudera has a well-earned reputation in the IT sector, and its Associate Data analyst certification can help bolster the resume of Business intelligence specialists, system architects, data analysts, database administrators as well as developers. It has a specific focus on SQL developers who aim to show their proficiency on the platform.This certificate validates an applicant's ability to operate in a CDH environment by Cloudera using Impala and Hive tools. One doesn't need to turn to expensive tuitions and academies as Cloudera offers an Analyst Training course with almost the same objectives as the exam, leaving one with a good grasp of the fundamentals.   Prerequisites: basic knowledge of SQL and Linux Command line Exam Fee & Format: The cost of the exam is $295 (Source), The test is a performance-based test containing 8-12 questions to be completed in a proctored environment under 129 minutes.  Expected Salary: You can earn the job title of Cloudera Data Analyst that pays up to $113,286 per year. (Source)3. Associate Certified Analytics Professional (aCAP)aCAP is an entry-level certification for Analytics professionals with lesser experience but effective knowledge, which helps in real-life situations. It is for those candidates who have a master’s degree in a field related to data analytics.  It is one of the few vendor-neutral certifications on the list and must be converted to CAP within 6 years, so it offers a good opportunity for those with a long term path in a Data Analytics career. It also needs to be renewed every three years, like the CAP certification. Like its professional counterpart, aCAP helps a candidate step out in a vendor-neutral manner and drastically increases their professional credibility.  Prerequisite: Master’s degree in any discipline related to data Analytics. Exam Fee: The base price is $300. For individuals who are members of INFORMS the price is $200. (Source). There is an extensive syllabus which covers: i. Business Problem Framing, ii. Analytics Problem Framing, iii. Data, iv. Methodology Selection, v. Model Building, vi. Deployment, vii. Lifecycle Management of the Analytics process, problem-solving, data science and visualisation and much more.4. SAS Certified Data Analyst (Using SAS9)From one of the pioneers in IT and Statistics - the SAS Institute of Data Management - a SAS Certified Data Scientist can gain insights and analyse various aspects of data from businesses using tools like the SAS software and other open-source methodology. It also validates competency in using complex machine learning models and inferring results to interpret future business strategy and release models using the SAS environment. SAS Academy for Data Science is a viable institute for those who want to receive proper training for the exam and use this as a basis for their career.  Prerequisites: To earn this credential, one needs to pass 5 exams, two from the SAS Certified Big Data Professional credential and three exams from the SAS Certified Advanced Analytics Professional Credential. Exam Fee: The cost for each exam is $180. (Source) An exception is Predictive Modelling using the SAS Enterprise Miner, costing $250, This exam can be taken in the English language. One can join the SAS Academy for Data Science and also take a practice exam beforehand. Salary: You can get a job as a SAS Data Analyst that pays up to $90,000 per year! (Source) 5. IBM Data Science Professional CertificateWhenever someone studies the history of a computer, IBM (International Business Machines) is the first brand that comes up. IBM is still alive and kicking, now having forayed into and becoming a major player in the Big Data segment. The IBM Data Science Professional certificate is one of the beginner-level certificates if you want to sink your hands into the world of data analysis. It shows a candidate's skills in various topics pertaining to data sciences, including various open-source tools, Python databases, SWL, data visualisation, and data methodologies.  One needs to complete nine courses to earn the certificate. It takes around three months if one works twelve hours per week. It also involves the completion of various hands-on assignments and building a portfolio. A candidate earns the Professional certificate from Coursera and a badge from IBM that recognises a candidate's proficiency in the area. Prerequisites: It is the optimal course for freshers since it requires no requisite programming knowledge or proficiency in Analytics. Exam Fee: It costs $39 per month (Source) to access the course materials and the certificate. The course is handled by the Coursera organisation. Expected Salary: This certification can earn you the title of IBM Data Scientist and help you earn a salary of $134,846 per annum. (Source) 6. Microsoft Certified Azure Data Scientist AssociateIt's one of the most well-known certifications for newcomers to step into the field of Big Data and Data analytics. This credential is offered by the leader in the industry, Microsoft Azure. This credential validates a candidate's ability to work with Microsoft Azure developing environment and proficiency in analysing big data, preparing data for the modelling process, and then progressing to designing models. One advantage of this credential is that it has no expiry date and does not need renewal; it also authorises the candidate’s extensive knowledge in predictive Analytics. Prerequisites: knowledge and experience in data science and using Azure Machine Learning and Azure Databricks. Exam Fee: It costs $165 to (Source) register for the exam. One advantage is that there is no need to attend proxy institutions to prepare for this exam, as Microsoft offers free training materials as well as an instructor-led course that is paid. There is a comprehensive collection of resources available to a candidate. Expected Salary: The job title typically offered is Microsoft Data Scientist and it typically fetches a yearly pay of $130,993.(Source) Why be a Data Analytics professional? For those already working in the field of data, being a Data Analyst is one of the most viable options. The salary of a data analyst ranges from $65,000 to $85,000 depending on number of years of experience. This lucrative salary makes it worth the investment to get a certification and advance your skills to the next level so that you can work for multinational companies by interpreting and organising data and using this analysis to accelerate businesses. These certificates demonstrate that you have the required knowledge needed to operate data models of the volumes needed by big organizations. 1. Demand is more than supply With the advent of the Information Age, there has been a huge boom in companies that either entirely or partially deal with IT. For many companies IT forms the core of their business. Every business has to deal with data, and it is crucial to get accurate insights from this data and use it to further business interests and expand profits. The interpretation of data also aims to guide them in the future to make the best business decisions.  Complex business intelligence algorithms are in place these days. They need trained professionals to operate them; since this field is relatively new, there is a shortage of experts. Thus, there are vacancies for data analyst positions with lucrative pay if one is qualified enough.2. Good pay with benefitsA data analyst is an extremely lucrative profession, with an average base pay of $71,909 (Source), employee benefits, a good work-home balance, and other perks. It has been consistently rated as being among the hottest careers of the decade and allows professionals to have a long and satisfying career.   Companies Hiring Certified Data Analytics Professionals Oracle A California based brand, Oracle is a software company that is most famous for its data solutions. With over 130000 employees and a revenue of 39 billion, it is surely one of the bigger players in Data Analytics.  MicroStrategy   Unlike its name, this company is anything but micro, with more than 400 million worth of revenue. It provides a suite of analytical products along with business mobility solutions. It is a key player in the mobile space, working natively with Android and iOS.   SAS   One of the companies in the list which provides certifications and is also without a doubt one of the largest names in the field of Big Data, machine learning and Data Analytics, is SAS. The name SAS is derived from Statistical Analysis System. This company is trusted and has a solid reputation. It is also behind the SAS Institute for Data Science. Hence, SAS is the organisation you would want to go to if you're aiming for a long-term career in data science.    Conclusion To conclude, big data and data Analytics are a field of endless opportunities. By investing in the right credential, one can pave the way to a viable and lucrative career path. Beware though, there are lots of companies that provide certifications, but only recognised and reputed credentials will give you the opportunities you are seeking. Hiring companies look for these certifications as a mark of authenticity of your hands-on experience and the amount of work you can handle effectively. Therefore, the credential you choose for yourself plays a vital role in the career you can have in the field of Data analytics.  Happy learning!    
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Top Data Analytics Certifications

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Why Should You Start a Career in Machine Learning?

If you are even remotely interested in technology you would have heard of machine learning. In fact machine learning is now a buzzword and there are dozens of articles and research papers dedicated to it.  Machine learning is a technique which makes the machine learn from past experiences. Complex domain problems can be resolved quickly and efficiently using Machine Learning techniques.  We are living in an age where huge amounts of data are produced every second. This explosion of data has led to creation of machine learning models which can be used to analyse data and to benefit businesses.  This article tries to answer a few important concepts related to Machine Learning and informs you about the career path in this prestigious and important domain.What is Machine Learning?So, here’s your introduction to Machine Learning. This term was coined in the year 1997. “A computer program is said to learn from experience E with respect to some class of tasks T and performance measure P, if its performance at the tasks improves with the experiences.”, as defined in the book on ML written by Mitchell in 1997. The difference between a traditional programming and programming using Machine Learning is depicted here, the first Approach (a) is a traditional approach, and second approach (b) is a Machine Learning based approach.Machine Learning encompasses the techniques in AI which allow the system to learn automatically looking at the data available. While learning, the system tries to improve the experience without making any explicit efforts in programming. Any machine learning application follows the following steps broadlySelecting the training datasetAs the definition indicates, machine learning algorithms require past experience, that is data, for learning. So, selection of appropriate data is the key for any machine learning application.Preparing the dataset by preprocessing the dataOnce the decision about the data is made, it needs to be prepared for use. Machine learning algorithms are very susceptible to the small changes in data. To get the right insights, data must be preprocessed which includes data cleaning and data transformation.  Exploring the basic statistics and properties of dataTo understand what the data wishes to convey, the data engineer or Machine Learning engineer needs to understand the properties of data in detail. These details are understood by studying the statistical properties of data. Visualization is an important process to understand the data in detail.Selecting the appropriate algorithm to apply on the datasetOnce the data is ready and understood in detail, then appropriate Machine Learning algorithms or models are selected. The choice of algorithm depends on characteristics of data as well as type of task to be performed on the data. The choice also depends on what kind of output is required from the data.Checking the performance and fine-tuning the parameters of the algorithmThe model or algorithm chosen is fine-tuned to get improved performance. If multiple models are applied, then they are weighed against the performance. The final algorithm is again fine-tuned to get appropriate output and performance.Why Pursue a Career in Machine Learning in 2021?A recent survey has estimated that the jobs in AI and ML have grown by more than 300%. Even before the pandemic struck, Machine Learning skills were in high demand and the demand is expected to increase two-fold in the near future.A career in machine learning gives you the opportunity to make significant contributions in AI, the future of technology. All the big and small businesses are adopting Machine Learning models to improve their bottom-line margins and return on investment.  The use of Machine Learning has gone beyond just technology and it is now used in diverse industries including healthcare, automobile, manufacturing, government and more. This has greatly enhanced the value of Machine Learning experts who can earn an average salary of $112,000.  Huge numbers of jobs are expected to be created in the coming years.  Here are a few reasons why one should pursue a career in Machine Learning:The global machine learning market is expected to touch $20.83B in 2024, according to Forbes.  We are living in a digital age and this explosion of data has made the use of machine learning models a necessity. Machine Learning is the only way to extract meaning out of data and businesses need Machine Learning engineers to analyze huge data and gain insights from them to improve their businesses.If you like numbers, if you like research, if you like to read and test and if you have a passion to analyse, then machine learning is the career for you. Learning the right tools and programming languages will help you use machine learning to provide appropriate solutions to complex problems, overcome challenges and grow the business.Machine Learning is a great career option for those interested in computer science and mathematics. They can come up with new Machine Learning algorithms and techniques to cater to the needs of various business domains.As explained above, a career in machine learning is both rewarding and lucrative. There are huge number of opportunities available if you have the right expertise and knowledge. On an average, Machine Learning engineers get higher salaries, than other software developers.Years of experience in the Machine Learning domain, helps you break into data scientist roles, which is not just among the hottest careers of our generation but also a highly respected and lucrative career. Right skills in the right business domain helps you progress and make a mark for yourself in your organization. For example, if you have expertise in pharmaceutical industries and experience working in Machine learning, then you may land job roles as a data scientist consultant in big pharmaceutical companies.Statistics on Machine learning growth and the industries that use MLAccording to a research paper in AI Multiple (https://research.aimultiple.com/ml-stats/), the Machine Learning market will grow to 9 Billion USD by the end of 2022. There are various areas where Machine Learning models and solutions are getting deployed, and businesses see an overall increase of 44% investments in this area. North America is one of the leading regions in the adoption of Machine Learning followed by Asia.The Global Machine Learning market will grow by 42% which is evident from the following graph. Image sourceThere is a huge demand for Machine Learning modelling because of the large use of Cloud Based Applications and Services. The pandemic has changed the face of businesses, making them heavily dependent on Cloud and AI based services. Google, IBM, and Amazon are just some of the companies that have invested heavily in AI and Machine Learning based application development, to provide robust solutions for problems faced by small to large scale businesses. Machine Learning and Cloud based solutions are scalable and secure for all types of business.ML analyses and interprets data patterns, computing and developing algorithms for various business purposes.Advantages of Machine Learning courseNow that we have established the advantages of perusing a career in Machine Learning, let’s understand from where to start our machine learning journey. The best option would be to start with a Machine Learning course. There are various platforms which offer popular Machine Learning courses. One can always start with an online course which is both effective and safe in these COVID times.These courses start with an introduction to Machine Learning and then slowly help you to build your skills in the domain. Many courses even start with the basics of programming languages such as Python, which are important for building Machine Learning models. Courses from reputed institutions will hand hold you through the basics. Once the basics are clear, you may switch to an offline course and get the required certification.Online certifications have the same value as offline classes. They are a great way to clear your doubts and get personalized help to grow your knowledge. These courses can be completed along with your normal job or education, as most are self-paced and can be taken at a time of your convenience. There are plenty of online blogs and articles to aid you in completion of your certification.Machine Learning courses include many real time case studies which help you in understanding the basics and application aspects. Learning and applying are both important and are covered in good Machine Learning Courses. So, do your research and pick an online tutorial that is from a reputable institute.What Does the Career Path in Machine Learning Look Like?One can start their career in Machine Learning domain as a developer or application programmer. But the acquisition of the right skills and experience can lead you to various career paths. Following are some of the career options in Machine Learning (not an exhaustive list):Data ScientistA data scientist is a person with rich experience in a particular business field. A person who has a knowledge of domain, as well as machine learning modelling, is a data scientist. Data Scientists’ job is to study the data carefully and suggest accurate models to improve the business.AI and Machine Learning EngineerAn AI engineer is responsible for choosing the proper Machine Learning Algorithm based on natural language processing and neural network. They are responsible for applying it in AI applications like personalized advertising.  A Machine Learning Engineer is responsible for creating the appropriate models for improvement of the businessData EngineerA Data Engineer, as the name suggests, is responsible to collect data and make it ready for the application of Machine Learning models. Identification of the right data and making it ready for extraction of further insights is the main work of a data engineer.Business AnalystA person who studies the business and analyzes the data to get insights from it is a Business Analyst. He or she is responsible for extracting the insights from the data at hand.Business Intelligence (BI) DeveloperA BI developer uses Machine Learning and Data Analytics techniques to work on a large amount of data. Proper representation of data to suit business decisions, using the latest tools for creation of intuitive dashboards is the role of a BI developer.  Human Machine Interface learning engineerCreating tools using machine learning techniques to ease the human machine interaction or automate decisions, is the role of a Human Machine Interface learning engineer. This person helps in generating choices for users to ease their work.Natural Language Processing (NLP) engineer or developerAs the name suggests, this person develops various techniques to process Natural Language constructs. Building applications or systems using machine learning techniques to build Natural Language based applications is their main task. They create multilingual Chatbots for use in websites and other applications.Why are Machine Learning Roles so popular?As mentioned above, the market growth of AI and ML has increased tremendously over the past years. The Machine Learning Techniques are applied in every domain including marketing, sales, product recommendations, brand retention, creating advertising, understanding the sentiments of customer, security, banking and more. Machine learning algorithms are also used in emails to ease the users work. This says a lot, and proves that a career in Machine Learning is in high demand as all businesses are incorporating various machine learning techniques and are improving their business.One can harness this popularity by skilling up with Machine Learning skills. Machine Learning models are now being used by every company, irrespective of their size--small or big, to get insights on their data and use these insights to improve the business. As every company wishes to grow faster, they are deploying more machine learning engineers to get their work done on time. Also, the migration of businesses to Cloud services for better security and scalability, has increased their requirement for more Machine Learning algorithms and models to cater to their needs.Introducing the Machine learning techniques and solutions has brought huge returns for businesses.  Machine Learning solution providers like Google, IBM, Microsoft etc. are investing in human resources for development of Machine Learning models and algorithms. The tools developed by them are popularly used by businesses to get early returns. It has been observed that there is significant increase in patents in Machine Learning domains since the past few years, indicating the quantum of work happening in this domain.Machine Learning SkillsLet’s visit a few important skills one must acquire to work in the domain of Machine Learning.Programming languagesKnowledge of programming is very important for a career in Machine Learning. Languages like Python and R are popularly used to develop applications using Machine Learning models and algorithms. Python, being the simplest and most flexible language, is very popular for AI and Machine Learning applications. These languages provide rich support of libraries for implementation of Machine Learning Algorithms. A person who is good in programming can work very efficiently in this domain.Mathematics and StatisticsThe base for Machine Learning is mathematics and statistics. Statistics applied to data help in understanding it in micro detail. Many machine learning models are based on the probability theory and require knowledge of linear algebra, transformations etc. A good understanding of statistics and probability increases the early adoption to Machine Learning domain.Analytical toolsA plethora of analytical tools are available where machine learning models are already implemented and made available for use. Also, these tools are very good for visualization purposes. Tools like IBM Cognos, PowerBI, Tableue etc are important to pursue a career as a  Machine Learning engineer.Machine Learning Algorithms and librariesTo become a master in this domain, one must master the libraries which are provided with various programming languages. The basic understanding of how machine learning algorithms work and are implemented is crucial.Data Modelling for Machine Learning based systemsData lies at the core of any Machine Learning application. So, modelling the data to suit the application of Machine Learning algorithms is an important task. Data modelling experts are the heart of development teams that develop machine learning based systems. SQL based solutions like Oracle, SQL Server, and NoSQL solutions are important for modelling data required for Machine Learning applications. MongoDB, DynamoDB, Riak are some important NOSQL based solutions available to process unstructured data for Machine Learning applications.Other than these skills, there are two other skills that may prove to be beneficial for those planning on a career in the Machine Learning domain:Natural Language processing techniquesFor E-commerce sites, customer feedback is very important and crucial in determining the roadmap of future products. Many customers give reviews for the products that they have used or give suggestions for improvement. These feedbacks and opinions are analyzed to gain more insights about the customers buying habits as well as about the products. This is part of natural language processing using Machine Learning. The likes of Google, Facebook, Twitter are developing machine learning algorithms for Natural Language Processing and are constantly working on improving their solutions. Knowledge of basics of Natural Language Processing techniques and libraries is must in the domain of Machine Learning.Image ProcessingKnowledge of Image and Video processing is very crucial when a solution is required to be developed in the area of security, weather forecasting, crop prediction etc. Machine Learning based solutions are very effective in these domains. Tools like Matlab, Octave, OpenCV are some important tools available to develop Machine Learning based solutions which require image or video processing.ConclusionMachine Learning is a technique to automate the tasks based on past experiences. This is among the most lucrative career choices right now and will continue to remain so in the future. Job opportunities are increasing day by day in this domain. Acquiring the right skills by opting for a proper Machine Learning course is important to grow in this domain. You can have an impressive career trajectory as a machine learning expert, provided you have the right skills and expertise.
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Why Should You Start a Career in Machine Learning?

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Types of Probability Distributions Every Data Science Expert Should know

Data Science has become one of the most popular interdisciplinary fields. It uses scientific approaches, methods, algorithms, and operations to obtain facts and insights from unstructured, semi-structured, and structured datasets. Organizations use these collected facts and insights for efficient production, business growth, and to predict user requirements. Probability distribution plays a significant role in performing data analysis equipping a dataset for training a model. In this article, you will learn about the types of Probability Distribution, random variables, types of discrete distributions, and continuous distribution.  What is Probability Distribution? A Probability Distribution is a statistical method that determines all the probable values and possibilities that a random variable can deliver from a particular range. This range of values will have a lower bound and an upper bound, which we call the minimum and the maximum possible values.  Various factors on which plotting of a value depends are standard deviation, mean (or average), skewness, and kurtosis. All of these play a significant role in Data science as well. We can use probability distribution in physics, engineering, finance, data analysis, machine learning, etc. Significance of Probability distributions in Data Science In a way, most of the data science and machine learning operations are dependent on several assumptions about the probability of your data. Probability distribution allows a skilled data analyst to recognize and comprehend patterns from large data sets; that is, otherwise, entirely random variables and values. Thus, it makes probability distribution a toolkit based on which we can summarize a large data set. The density function and distribution techniques can also help in plotting data, thus supporting data analysts to visualize data and extract meaning. General Properties of Probability Distributions Probability distribution determines the likelihood of any outcome. The mathematical expression takes a specific value of x and shows the possibility of a random variable with p(x). Some general properties of the probability distribution are – The total of all probabilities for any possible value becomes equal to 1. In a probability distribution, the possibility of finding any specific value or a range of values must lie between 0 and 1. Probability distributions tell us the dispersal of the values from the random variable. Consequently, the type of variable also helps determine the type of probability distribution.Common Data Types Before jumping directly into explaining the different probability distributions, let us first understand the different types of probability distributions or the main categories of the probability distribution. Data analysts and data engineers have to deal with a broad spectrum of data, such as text, numerical, image, audio, voice, and many more. Each of these have a specific means to be represented and analyzed. Data in a probability distribution can either be discrete or continuous. Numerical data especially takes one of the two forms. Discrete data: They take specific values where the outcome of the data remains fixed. Like, for example, the consequence of rolling two dice or the number of overs in a T-20 match. In the first case, the result lies between 2 and 12. In the second case, the event will be less than 20. Different types of discrete distributions that use discrete data are: Binomial Distribution Hypergeometric Distribution Geometric Distribution Poisson Distribution Negative Binomial Distribution Multinomial Distribution  Continuous data: It can obtain any value irrespective of bound or limit. Example: weight, height, any trigonometric value, age, etc. Different types of continuous distributions that use continuous data are: Beta distribution Cauchy distribution Exponential distribution Gamma distribution Logistic distribution Weibull distribution Types of Probability Distribution explained Here are some of the popular types of Probability distributions used by data science professionals. (Try all the code using Jupyter Notebook) Normal Distribution: It is also known as Gaussian distribution. It is one of the simplest types of continuous distribution. This probability distribution is symmetrical around its mean value. It also shows that data at close proximity of the mean is frequently occurring, compared to data that is away from it. Here, mean = 0, variance = finite valueHere, you can see 0 at the center is the Normal Distribution for different mean and variance values. Here is a code example showing the use of Normal Distribution: from scipy.stats import norm  import matplotlib.pyplot as mpl  import numpy as np  def normalDist() -> None:      fig, ax = mpl.subplots(1, 1)      mean, var, skew, kurt = norm.stats(moments = 'mvsk')      x = np.linspace(norm.ppf(0.01),  norm.ppf(0.99), 100)      ax.plot(x, norm.pdf(x),          'r-', lw = 5, alpha = 0.6, label = 'norm pdf')      ax.plot(x, norm.cdf(x),          'b-', lw = 5, alpha = 0.6, label = 'norm cdf')      vals = norm.ppf([0.001, 0.5, 0.999])      np.allclose([0.001, 0.5, 0.999], norm.cdf(vals))      r = norm.rvs(size = 1000)      ax.hist(r, normed = True, histtype = 'stepfilled', alpha = 0.2)      ax.legend(loc = 'best', frameon = False)      mpl.show()  normalDist() Output: Bernoulli Distribution: It is the simplest type of probability distribution. It is a particular case of Binomial distribution, where n=1. It means a binomial distribution takes 'n' number of trials, where n > 1 whereas, the Bernoulli distribution takes only a single trial.   Probability Mass Function of a Bernoulli’s Distribution is:  where p = probability of success and q = probability of failureHere is a code example showing the use of Bernoulli Distribution: from scipy.stats import bernoulli  import seaborn as sb    def bernoulliDist():      data_bern = bernoulli.rvs(size=1200, p = 0.7)      ax = sb.distplot(          data_bern,           kde = True,           color = 'g',           hist_kws = {'alpha' : 1},          kde_kws = {'color': 'y', 'lw': 3, 'label': 'KDE'})      ax.set(xlabel = 'Bernouli Values', ylabel = 'Frequency Distribution')  bernoulliDist() Output:Continuous Uniform Distribution: In this type of continuous distribution, all outcomes are equally possible; each variable gets the same probability of hit as a consequence. This symmetric probabilistic distribution has random variables at an equal interval, with the probability of 1/(b-a). Here is a code example showing the use of Uniform Distribution: from numpy import random  import matplotlib.pyplot as mpl  import seaborn as sb  def uniformDist():      sb.distplot(random.uniform(size = 1200), hist = True)      mpl.show()  uniformDist() Output: Log-Normal Distribution: A Log-Normal distribution is another type of continuous distribution of logarithmic values that form a normal distribution. We can transform a log-normal distribution into a normal distribution. Here is a code example showing the use of Log-Normal Distribution import matplotlib.pyplot as mpl  def lognormalDist():      muu, sig = 3, 1      s = np.random.lognormal(muu, sig, 1000)      cnt, bins, ignored = mpl.hist(s, 80, normed = True, align ='mid', color = 'y')      x = np.linspace(min(bins), max(bins), 10000)      calc = (np.exp( -(np.log(x) - muu) **2 / (2 * sig**2))             / (x * sig * np.sqrt(2 * np.pi)))      mpl.plot(x, calc, linewidth = 2.5, color = 'g')      mpl.axis('tight')      mpl.show()  lognormalDist() Output: Pareto Distribution: It is one of the most critical types of continuous distribution. The Pareto Distribution is a skewed statistical distribution that uses power-law to describe quality control, scientific, social, geophysical, actuarial, and many other types of observable phenomena. The distribution shows slow or heavy-decaying tails in the plot, where much of the data reside at its extreme end. Here is a code example showing the use of Pareto Distribution – import numpy as np  from matplotlib import pyplot as plt  from scipy.stats import pareto  def paretoDist():      xm = 1.5        alp = [2, 4, 6]       x = np.linspace(0, 4, 800)      output = np.array([pareto.pdf(x, scale = xm, b = a) for a in alp])      plt.plot(x, output.T)      plt.show()  paretoDist() Output:Exponential Distribution: It is a type of continuous distribution that determines the time elapsed between events (in a Poisson process). Let’s suppose, that you have the Poisson distribution model that holds the number of events happening in a given period. We can model the time between each birth using an exponential distribution.Here is a code example showing the use of Pareto Distribution – from numpy import random  import matplotlib.pyplot as mpl  import seaborn as sb  def expDist():      sb.distplot(random.exponential(size = 1200), hist = True)      mpl.show()   expDist()Output:Types of the Discrete probability distribution – There are various types of Discrete Probability Distribution a Data science aspirant should know about. Some of them are – Binomial Distribution: It is one of the popular discrete distributions that determine the probability of x success in the 'n' trial. We can use Binomial distribution in situations where we want to extract the probability of SUCCESS or FAILURE from an experiment or survey which went through multiple repetitions. A Binomial distribution holds a fixed number of trials. Also, a binomial event should be independent, and the probability of obtaining failure or success should remain the same. Here is a code example showing the use of Binomial Distribution – from numpy import random  import matplotlib.pyplot as mpl  import seaborn as sb    def binomialDist():      sb.distplot(random.normal(loc = 50, scale = 6, size = 1200), hist = False, label = 'normal')      sb.distplot(random.binomial(n = 100, p = 0.6, size = 1200), hist = False, label = 'binomial')      plt.show()    binomialDist() Output:Geometric Distribution: The geometric probability distribution is one of the crucial types of continuous distributions that determine the probability of any event having likelihood ‘p’ and will happen (occur) after 'n' number of Bernoulli trials. Here 'n' is a discrete random variable. In this distribution, the experiment goes on until we encounter either a success or a failure. The experiment does not depend on the number of trials. Here is a code example showing the use of Geometric Distribution – import matplotlib.pyplot as mpl  def probability_to_occur_at(attempt, probability):      return (1-p)**(attempt - 1) * probability  p = 0.3  attempt = 4  attempts_to_show = range(21)[1:]  print('Possibility that this event will occur on the 7th try: ', probability_to_occur_at(attempt, p))  mpl.xlabel('Number of Trials')  mpl.ylabel('Probability of the Event')  barlist = mpl.bar(attempts_to_show, height=[probability_to_occur_at(x, p) for x in attempts_to_show], tick_label=attempts_to_show)  barlist[attempt].set_color('g')  mpl.show() Output:Poisson Distribution: Poisson distribution is one of the popular types of discrete distribution that shows how many times an event has the possibility of occurrence in a specific set of time. We can obtain this by limiting the Bernoulli distribution from 0 to infinity. Data analysts often use the Poisson distributions to comprehend independent events occurring at a steady rate in a given time interval. Here is a code example showing the use of Poisson Distribution from scipy.stats import poisson  import seaborn as sb  import numpy as np  import matplotlib.pyplot as mpl  def poissonDist():       mpl.figure(figsize = (10, 10))      data_binom = poisson.rvs(mu = 3, size = 5000)      ax = sb.distplot(data_binom, kde=True, color = 'g',                       bins=np.arange(data_binom.min(), data_binom.max() + 1),                       kde_kws={'color': 'y', 'lw': 4, 'label': 'KDE'})      ax.set(xlabel = 'Poisson Distribution', ylabel='Data Frequency')      mpl.show()      poissonDist() Output:Multinomial Distribution: A multinomial distribution is another popular type of discrete probability distribution that calculates the outcome of an event having two or more variables. The term multi means more than one. The Binomial distribution is a particular type of multinomial distribution with two possible outcomes - true/false or heads/tails. Here is a code example showing the use of Multinomial Distribution – import numpy as np  import matplotlib.pyplot as mpl  np.random.seed(99)   n = 12                      pvalue = [0.3, 0.46, 0.22]     s = []  p = []     for size in np.logspace(2, 3):      outcomes = np.random.multinomial(n, pvalue, size=int(size))        prob = sum((outcomes[:,0] == 7) & (outcomes[:,1] == 2) & (outcomes[:,2] == 3))/len(outcomes)      p.append(prob)      s.append(int(size))  fig1 = mpl.figure()  mpl.plot(s, p, 'o-')  mpl.plot(s, [0.0248]*len(s), '--r')  mpl.grid()  mpl.xlim(xmin = 0)  mpl.xlabel('Number of Events')  mpl.ylabel('Function p(X = K)') Output:Negative Binomial Distribution: It is also a type of discrete probability distribution for random variables having negative binomial events. It is also known as the Pascal distribution, where the random variable tells us the number of repeated trials produced during a specific number of experiments.  Here is a code example showing the use of Negative Binomial Distribution – import matplotlib.pyplot as mpl   import numpy as np   from scipy.stats import nbinom    x = np.linspace(0, 6, 70)   gr, kr = 0.3, 0.7        g = nbinom.ppf(x, gr, kr)   s = nbinom.pmf(x, gr, kr)   mpl.plot(x, g, "*", x, s, "r--") Output: Apart from these mentioned distribution types, various other types of probability distributions exist that data science professionals can use to extract reliable datasets. In the next topic, we will understand some interconnections & relationships between various types of probability distributions. Relationship between various Probability distributions – It is surprising to see that different types of probability distributions are interconnected. In the chart shown below, the dashed line is for limited connections between two families of distribution, whereas the solid lines show the exact relationship between them in terms of transformation, variable, type, etc. Conclusion  Probability distributions are prevalent among data analysts and data science professionals because of their wide usage. Today, companies and enterprises hire data science professionals in many sectors, namely, computer science, health, insurance, engineering, and even social science, where probability distributions appear as fundamental tools for application. It is essential for Data analysts and data scientists. to know the core of statistics. Probability Distributions perform a requisite role in analyzing data and cooking a dataset to train the algorithms efficiently. If you want to learn more about data science - particularly probability distributions and their uses, check out KnowledgeHut's comprehensive Data science course. 
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Types of Probability Distributions Every Data Scie...

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