Top 5 Ways to Earn Money from Data Science as an Entrepreneur

earn money from data science

Who does not want to be his own boss . In regular jobs we get the salary for fulfilling others dreams or requirements . In the opposite side entrepreneurship , We get the payment for fulfilling our own dreams . Now you need to decide whats your plan on this . Specially for data scientist when perks and salaries are already at top .

I found people like to do the job . In some scenario it is right also specially when people are only good in technical areas not in leadership and all . But If you have good leadership and managerial skills plus hands on knowledge on data science , I think you must start something at your own . This article will is completely design for them them who  wants to make money through data science skills at their own . In this article we have mentions Top 5 ways to earn money from data science as an Entrepreneur . 

earn money from data science


Top 5 ways to earn money from data science as an Entrepreneur –

In these top 5 ways (how to make money online with data science)  , you may opt any one . It completely depends on your strength . I will not assist or enforce you on that. It is completely individual strengths . But I will suggest you to read till end .

  1. Develop a small product on data Science ( Ideas inside) –

When it comes to Product and Product Development .People always think product is always a big stuff . Its not really true ! Products are something which at-least solve a real problem . Some time this misconception occurs because of the product we use in daily life are like a tree . For example you use Google and find its combination of multiple app like searching console , youtube , google plus etc . Actually all great products are start from a single unique value offering feature . Even if you read books like Lean startups you will get the same advice . The best way is to develop a feature and  launch it , get the feed back , review it and improve it . Once this cycle is done develop the second and so  on the top of it .

Lets talk about some product ideas . You know how easy is developing a chatbot using cloud platform for amazon lex and dialogflow .You may built a chatbot for local advertisement for your area . It should not be for a large area because for a large area , there must be already an app or chatbot . Now you must be thinking how stupid is to make a duplicate for the same in local area. So the game changer is the specification and honesty of information . You can locally review and the recheck the details provided are really truth or not . Usually these large scale advertisement app  do not mention complete correct information  .In the same way you may develop a recommendation engine for this chatbot to  auto suggestion and recommend .

Trust me doing the same thing in the different way , can make you successful .Now its your task to identify which may works best for you .This was only one instance , You have open world of ideas .All you need to implement that and see how to make money from data analytics.

     2. Create a blog or online e-learning  website –

Data science is new . Like every other technologies ! we love to read the content on e-learning websites .The opportunity is for you that there are very less resources in data science . What ever  already present is good but data science fields lacks some more quality contents . Like we are doing in data science learner , we are trying to create interesting and valuable content for you and people like you  . The best part is we are also earning although its my passion . There are so many ways to monetize blog like Adsense , affiliate , digital courses etc.You may start to earn money from data science in this way as well .

    3. Start a consulting firm on data science –

You may already know about it . You may start with small projects with clear define goals . My only suggestion is to save your self from the projects which involves too much R&D in consulting projects . I thinks R&D in data science is always should be in bound . I mean the client should pay R&D scientist engineers on their own pay roll . Because It is rally harder to justing the pay for R&D Engineers .Think about it you make a contract a project without PoCs  and suppose some part is blocking the project which is matter of research then you may get stuck . So try to consider only those project while consulting which you already done in before or similar to them .

    4. Collect Data Set and sell-

You know data science is built on the top of under lying data . If you are not good in data science coding stuffs , You may start with Collect Data Set and sell. You may sell your  data set to popular website like kaggle .You may earn money from data science by doing this good contribution to data science community .

   5. Online participate in global data science completion and earn –

There are so many data science platforms which pay on participation as prize money. You can participate and create a machine learning model for their problem statement. Based on the result driven and accuracy measure, you will be rewarded with a good amount. Most of the college student start with this way and earn money from data science. I mean this is more preferable when you are in the learning phase. Also it is best answer for those who are looking for  how to make extra money as data scientist.

Conclusion –

So friends! How did you find this article, ” Top 5 ways to earn money from data science as an Entrepreneur “. I have tried to cover this subject from multiple angles on how to make money online with data science. I mean, I tried to cover from student prospective which are in learning phase .We have also covered the intermediary and expert level people also on this . The idea is to suggest the earning for data science as an entrepreneur .Apart from these mentioned ways if you want to add some other data science entrepreneur ideas. please comment below or write back to us. We are also planning to provide the best e-learning videos on data science entrepreneurship in next coming article. But to get notified please subscribe us.

Data Science Learner Team 

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Meet Abhishek ( Chief Editor) , a data scientist with major expertise in NLP and Text Analytics. He has worked on various projects involving text data and have been able to achieve great results. He is currently manages, where he and his team share knowledge and help others learn more about data science.
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