Domestic non-IT firms report highest jump in job openings. (Representational Pic)
India has seen highest increase in data science and analytics jobs in non-IT sector, with banking, financial service and insurance (BFSI) recording one-third of these job openings, according to a report released by Great Learning, an online learning platform. The document further said that the growth has been driven by new technologies such as artificial intelligence (AI), machine learning (ML) and big data analytics. These technologies have given a boost to operations like risk management, fraud detection and customer service.
Business analyst remains the most in-demand position this year by volume.
The 2023 Jobs Report said share of information technology sector in data science and analytics jobs has seen a significant decline since last year. Great Learning attributed this fall to global recessionary trends, especially in the US and Europe, where a lot of IT sector clients are located.
Domestic non-IT firms report highest jump in job openings compared to 2022.
The report also said that jobs in retail and consumer packaged goods (CPGs), and pharma and healthcare sectors have gone up.
The jobs report painted a grim picture for senior-level professionals, saying there is a decline in job openings for them.
"The number of data science & analytics jobs was primarily skewed towards professionals in the 2-5 years and 5-7 years experience bracket. These two categories have even historically favoured because of their adaptability and lower cost to organisations compared to more senior age groups," said the report.
It also noted that "professionals in these brackets have relevant skills and practical experience, giving them an edge over freshers".
Though the number of data jobs have dropped, Bengaluru continues to hold the largest share, but the country's tech capital is reaching a saturation point. According to the jobs report, companies are moving to other locations, such as Delhi-NCR, Hyderabad and Chennai.
"India is in the midst of a massive digital transformation supporting business operations globally, and there is a considerable push towards embracing data-driven decisions to achieve more efficient business operations. This year's report has sprung some surprises - but once economies rebound, we can expect data science and analytics jobs in India to grow further and open up more unique job profiles," said Great Learning co-founder Hari Krishnan Nair.