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Data scientists create value and derive important information out of data. Coming from a background and having previous work experience as a data analyst or business analyst role, they work with companies of all sizes and across departments to uncover insights that can be used to improve various business functions.

Data scientist roles are somewhat fluid and change from company to company, your main role is to retrieve information from a variety of sources, analyze information and use it to develop machine learning tools and processes that can be used for strategic decision making and other business requirements.

Data scientists in the technology field can expect an average annual salary of just over $70,000. To start, you will make about $47,000 per year. With experience you can make in excess of $110,000 annually. Having skills related to big data analytics and data mining can help improve your earning potential. Performance bonuses and employee benefits may also be included as part of your compensation package.

Data scientists need to have a strong combination of technology and mathematics skills. To be successful with research and data collection, companies are seeking data scientists with the following skills, knowledge and abilities:

• knowledge of Hadoop, Apache Spark and big data tools
• proficiency with query languages
• exceptional database skills
• big data analytics
• data mining and machine learning
• experience with statistical research
• data modeling and analysis
• good programming skills

Data scientists typically spend about 10 years in the role before considering a career move. With the right level of experience, many data scientists move on to roles such as analytics manager, director of analytics, and other statistics or machine learning roles. Since the field and the need for data continue to expand, new roles continue to present themselves, making career prospects in this area very good for the foreseeable future.