The reason why data science will power the future is its sheer possibilities. It’s more like solving a puzzle which will lead you to a meaningful path, that has real-world implications, a puzzle which can really help change the world and make it more efficient. Data Science is part art, it’s part science. It has certain principles, certain techniques which require an art of usage.
There are things which seemed impossible 5 years ago and today, Data Science has made them possible. It’s only been enabled and accomplished by computational power. Over the years, science and computer professionals have seen an explosion of data. The world is continuously exploring and registering a huge amount of data through the internet or through the usage of mobile phones or sensors available, but our ability to analyse and interpret this humongous amount of data is not scaling to the need.
The companies that go through the entire data; study what their consumers do; what they like; what they dislike; and what they want, always rule the market. All these companies have a strong advantage that just completely overwhelms all their competitors. This is possible with Data Science and helps these companies emboss their names in their customers.
A study which was conducted by IDC found out that 90% of the data available has been generated in the past 2 years and this trend will continue for the next 30-40 years.
This proved that there’s a huge scope and ample opportunities for all the potential candidates to level up and scale up to the needs of the hour and make the most of Data Science as a career option, because it is here to stay, and it is here to rule the market.
Let’s look at some of the applications of Data Science:
DATA SCIENCE IN BUSINESSES:
The most exciting thing about data science is that it often shows us or teaches us the various opportunities or factors which we ordinarily overlook. It is like a hidden camera lens that records something which would never have thought of recording. In the future, this record can turn to be surprisingly useful as well.
The prime focus of every entrepreneur is on labour, technology and the market he is into; which aren’t really correlated with the outcome of the business. There are a lot of things and factors which could be generated and understood through the statistical information present.
Businesses can anticipate and prepare for forthcoming challenges and make plans to deal with those challenges effectively. Businesses can also increase their consumer base and invest in targeted marketing which can lead to better results and increased sales. They can streamline their in-house processes for improved performance, better allocation of resources and most optimum use of every resource available.
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There are tons of jobs available, in fact, data scientists and data analysts, in short, are in demand. From your Netflix movie recommendation to your google search results, everything is based on data science. Pretty much every company here right now is a major data science branch.
The scope of data science on e-commerce platforms like Amazon is not just limited to product selection but is also extended to the entire layout part. The entire screen you see is basically to convert you into a buyer and compel you buy something from your preferences.
With the help of data science, we can now analyse human genome data to figure out which people are more susceptible to containing certain kinds of diseases. There is hardly any field today which has not been transformed by the insights from the data. In healthcare sector, this has proved to be a big win in prevention and curing of diseases. Also, hospital and clinic management has improved manifold to cater to patients more efficiently. There are lots of cool projects happening around in health, finance and retail industry.
Data science has the ability to act as a predictive and prescriptive tool. It has the ability to predict the near future and understand consumer behaviour. It not only predicts but also prescribes you with certain actions depending on the situation. This improves the ability to measure actions and control actions in the future. It helps save costing and apply resources to the most optimum use.
Data Science is all around us. We get suggestions on Facebook using a mutual friend algorithm. When you upload a picture on Facebook with your friend you start getting tag suggestions using a face recognition algorithm. Google photo app also uses a face recognition algorithm helping you to segregate photos.
Feel too lazy to type? You can use speech recognition devices such as Alexa, Cortana, Siri which can take your experience to a new level. Data science can also be used to detect viruses, by using various antivirus applications.
Logistics companies have also been benefitted because data science helps to increase their operational efficiency. You can now know the estimated time, nearest route, best possible route through various applications.
The evolution of artificial intelligence, the development of robots have paved the way for enormous opportunities. According to a study, there are more than 1,50,000 jobs available with a median salary of $108000.
Given the scaling efficiency of artificial intelligence and machine learning, data science is going to sweep the world off its feet with the forthcoming inventions and innovations. We have self-driven cars, robots that are like humans, robots that can perform surgeries, everything stored and managed on cloud etc. The possibilities are only increasing each day given the research and work that is going into this field.
Though a lot has been achieved there is still a long way to go. There are many projects under construction. Teaching a machine how to do the calculation is a task which has been accomplished but teaching a machine how to behave is something which we haven’t done yet. There is a certain expectation that there will be days when machines aren’t just smart but also wise. The future is full of data science inventions. We would be having flying cars, talking robots and things which can’t even be imagined right now. Therefore, be ready to dive into the ocean of data science; think out of the box, come out with various inventions and the future is yours to capture.