This post is written from the perspective of Software because of my background in this industry but the same analogy is applicable in every other Industry.
Research Oriented People
There are research-oriented people who develop these algorithms. There are very few such people because it requires very high caliber and skills. There are very few research-oriented organization which are working in this space but if someone acquires this level of skills, they become very highly paid and sought-after.
Business Solution-Oriented People
There are business-solutions-oriented people who use the algorithms and models developed by others and customize to provide business solutions. There are many organizations that are into the service sector and hence there is a high number of requirements in this space
Benefits of Developing algorithms:
- If someone is developing an algorithm to know more, that’s very good. Even when we use other algorithms, but if we know it’s functioning we customize it and use it effectively
- If we are looking forward to joining a research-oriented organization, this background can help us improve our profile
