We all know about the kind of buzz surrounding data science right now, it is The tech career of this decade and that’s saying a lot! With the explosive growth of big data, companies across all kinds of industries are leveraging data science to gain valuable insights and make informed decisions, making it an extremely important part of doing business in general.

And you know what that means? A huge demand for skilled data scientists who are being offered substantial salaries. The job market for data scientists is thriving, offering a plethora of career opportunities.

In this article, we will explore the top product-based companies for data scientists that are at the forefront of data science innovation and offer not only amazing salaries but great career hype.

The Need for Data Science

The quick evolution of the internet has led to an exponential increase in data generation. As a result, organizations are now realizing the importance of leveraging this vast amount of data to drive business growth.

Data science, which combines computer science, statistics, and machine learning, plays a crucial role in analyzing and extracting meaningful patterns from big data and using it to make informed business decisions.

It has applications in various industries, including banking, finance, healthcare, marketing, and so much more.

Kickstart your Data Science journey by enrolling in GUVI’s Data Science Career Program where you will master technologies like MongoDB, Tableau, PowerBI, Pandas, etc., and build interesting real-life projects.

Read to know more about what data scientists actually do here.

What Makes a Data Science Company the Best?

We understand your dilemma since when it comes to choosing the best data science company to work for, several factors come into play. While high salaries are undoubtedly appealing, it is equally important to consider the company’s culture, growth opportunities, and work environment.

The best data science companies prioritize innovation, experimentation, and collaboration. They offer a nurturing and creative space for data scientists to thrive and contribute to groundbreaking projects.

Now, let’s take a closer look at the top 8 product-based companies for data scientists that are leading the way in data science and why so that you can make an informed decision to establish a successful career.

Top Product-Based Companies for Data Scientists:

1) Microsoft

Microsoft, founded by Bill Gates and Paul Allen in 1975, is a global technology giant. With a strong focus on big data, Microsoft has launched projects like AI for Earth and AI for Accessibility.

These initiatives utilize artificial intelligence to enhance environmental quality and improve accessibility for people with disabilities. Microsoft also offers a wide range of products and services that require working with big data, making it an excellent choice for data scientists.

With offices worldwide, Microsoft provides diverse opportunities for professionals seeking to make a significant impact in the field of data science. To make it here, you need to really master the most in-demand skills and be an efficient coder, but once you do, it’ll be worth it for sure!

• Salary offered to data scientists(average): 31 LPA
• Link to Apply for Jobs: Microsoft

2) Amazon

Amazon, originally an online bookstore, has transformed into a powerhouse in the e-commerce industry. With a relentless focus on data science, Amazon gathers and analyzes massive amounts of user data to enhance the online shopping experience.

From personalized recommendations to supply chain optimization, Amazon relies heavily on data science to drive its business. As a data scientist at Amazon, you’ll have the opportunity to work on projects that impact millions of customers worldwide and can you imagine the career boost?

• Salary offered to data scientists(average): 26.1 LPA
• Link to Apply for Jobs: Amazon

3) Airbnb

Airbnb has revolutionized the way people travel and experience accommodations and being an Airbnb fan, I completely vouch for this statement! As an online marketplace for lodging, Airbnb heavily relies on data science to optimize various aspects of its business.

Whether it’s improving guest experiences, financial analysis, or fraud detection, data scientists at Airbnb play a crucial role in driving innovation.

With a strong emphasis on knowledge sharing, Airbnb provides a platform for data scientists to collaborate and contribute to different areas of the company. If you’re passionate about using data science to transform the travel industry, Airbnb is an excellent company to consider.

• Salary offered to data scientists(average): 21.3 LPA
• Link to Apply for Jobs: Airbnb

4) Wipro

Wipro is one of THE largest data science consulting companies in India. With a wide range of services, including cloud computing, AI, and robotics, Wipro helps businesses achieve their goals through data-driven solutions.

It fosters a work environment that encourages collaboration and knowledge sharing. Their Data Science Acceleration Platform and IQNxt program enable you as a data scientist to create revenue roadmaps for clients and drive business growth.

If you feel like a dynamic and innovative environment is the place for you, then Wipro is a company worth exploring.

• Salary offered to data scientists(average): 9.4 LPA
• Link to Apply for Jobs: Wipro

5) IBM

We’ve all heard of IBM at some point in our tech careers, right? IBM is a multinational technology corporation, that has a long history of innovation.

From the invention of the floppy disk to the development of SQL programming languages, IBM has been at the forefront of technological advancements. Imagine working behind a legacy like that.

For data science, IBM offers powerful tools and platforms like IBM Cloud Pak for Data and IBM Watson Studio. These platforms enable data scientists to collaborate, analyze data, and build projects using various analytical tools and languages.

This can definitely be the place for you if you’re up for a challenge!

• Salary offered to data scientists(average): 15.7 LPA
• Link to Apply for Jobs: IBM

6) Cloudera

Cloudera, a rapidly growing software company, specializes in data storage and deep data processing using Apache Hadoop. Their platform, CDP private cloud, provides scalable data storage and handles analytical and machine learning workloads.

Cloudera’s operational database simplifies database management and ensures future-proof solutions. If you ask me, it’s the perfect place for all things data science and innovation!

Data management and machine learning platforms are at the core of Cloudera’s expertise, making it an excellent choice for data scientists looking to work with big data in a dynamic and challenging environment.

• Salary offered to data scientists(average): 25 LPA
• Link to Apply for Jobs: Cloudera

7) Splunk

Splunk is an American software company that focuses on monitoring, investigating, and analyzing data. Their flagship software allows users to search and analyze structured and unstructured data, making it a versatile tool for data scientists.

Splunk’s central data platform provides secure operations and enables potential threat detection.

With a wide range of applications across industries, Splunk offers data scientists an opportunity to work on cutting-edge projects and contribute to the field of data analysis all in one place. Not to mention, amazing career growth along the way!

• Salary offered to data scientists(average): 30 LPA
• Link to Apply for Jobs: Splunk

8) Numerator

Numerator is a spunky data and tech company based in Chicago. They specialize in scaling market research for Fortune 500 companies.

Their data-driven solutions provide unparalleled consumer understanding, making Numerator an attractive company for data scientists interested in consumer data analysis.

Numerator’s clientele consists of major players in various industries, offering data scientists the chance to work on diverse projects and contribute to industry-leading market research, it’s the best way to put yourself out there and associate with actual change makers.

• Salary offered to data scientists(average): 10.7 LPA
• Link to Apply for Jobs: Numerator

Before we bid goodbye, ensure you have a good grip on data science essentials like Python, MongoDB, Pandas, NumPy, Tableau & PowerBI Data Methods. If you are looking for a detailed course on Data Science, you can join GUVI’s Data Science Career Program with Placement Assistance. You’ll also learn about the trending tools and technologies and work on some real-time projects. 

Additionally, if you want to explore Python through a self-paced course, try GUVI’s Python self-paced course.

Takeaways…

From global technology giants like Microsoft and Amazon to innovative disruptors like Airbnb and Databricks, these companies offer your data science career a huge uplift.

Whether you’re interested in working on environmental initiatives, making it in e-commerce, or shaking up the travel industry, there’s sure to be a great company out there that aligns with your data science goals and aspirations.

Do keep upskilling no matter where you are in life and I promise it’ll always take you somewhere better! Good luck.

What is the salary of a data scientist in product-based companies?

On average, in the United States, a data scientist in a product-based company can earn between $100,000 to $150,000 per year, but senior positions may command higher salaries, exceeding $200,000 annually. Similarly, in India, the salaries range from 12LPA to even 30LPA!

What companies are looking for data scientists?

In this day and age? Pretty much all of them, including tech giants like Google, Facebook, and Amazon. Financial institutions like JPMorgan Chase and healthcare companies such as Pfizer also have high demand. Additionally, e-commerce platforms like eBay and retail giants like Walmart require data scientists for analytics and customer insights and the list goes on.

Can a data scientist be a product manager?

Yes, a data scientist can most definitely transition into a product manager role. Data scientists come to possess strong analytical skills and domain knowledge, which are valuable in product management. They can use their data-driven insights to inform product strategies, prioritize features, and make data-backed decisions.

Are data scientists highly paid?

Oh very much so! More data, more businesses that require people to deal with the data effectively, the more demand for skilled data scientists, and tada… the higher the salaries. In general, data scientists command high salaries due to their expertise in extracting valuable insights from data, which is crucial for businesses. The demand for data scientists has been consistently strong, leading to competitive compensation packages in the job market.