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Data Science is a buzzword in the technology world right now and for good reason, it represents a major step forward in how computers can learn. The need for Data Scientists are high in demand and this surge is due to evolving technology and generation of huge amounts of data aka Big Data. So, Let’s discuss the Future Scope of Data Science in the following order:
Data science is referred to the process of collecting, storing, segregating and analyzing data which serves as a valuable resource for organizations to carry out data-driven decision making. It is often used by highly skilled computing professionals.
Data Science exists everywhere, to be honest, every exchange and interaction on any technological domain includes a certain set of data, be it Amazon purchases, Facebook/Instagram feed, Netflix suggestions or even finger and facial recognition facility provided by phones.
Amazon is a key example of how data influences all our lives and shoppers particularly. Its data sets store every buyer’s data; what you have bought, the amount paid and your search history is all remembered in Amazon’s system by virtue of data collection. This greatly enables Amazon to personalize and customize its homepage according to your preferences and shopping history.
Data Science encompasses many breakthrough tech concepts like Artificial Intelligence, Internet of Things, Deep Learning to name a few. With its progress and technological developments, data science’s impact has increased drastically.
The importance of gathering and collecting data is crucial as it enables retailers to determine and thus influence our purchasing habits. Hence, it exercises major control through its purchasing power.
Let’s have a look at a few factors that point out to data science’s future, demonstrating compelling reasons why it is crucial to today’s business needs.
Data is being regularly collected by businesses and companies for transactions and through website interactions. Many companies face a common challenge – to analyze and categorize the data that is collected and stored. A data scientist becomes the savior in a situation of mayhem like this. Companies can progress a lot with proper and efficient handling of data, which results in productivity.
Countries of the European Union witnessed the passing of the General Data Protection Regulation (GDPR) in May 2018. A similar regulation for data protection will be passed by California in 2020. This will create co-dependency between companies and data scientists for the need of storing data adequately and responsibly. In today’s times, people are generally more cautious and alert about sharing data to businesses and giving up a certain amount of control to them, as there is rising awareness about data breaches and their malefic consequences. Companies can no longer afford to be careless and irresponsible about their data. The GDPR will ensure some amount of data privacy in the coming future.
Career areas that do not carry any growth potential in them run the risk of stagnating. This indicates that the respective fields need to constantly evolve and undergo a change for opportunities to arise and flourish in the industry. Data science is a broad career path that is undergoing developments and thus promises abundant opportunities in the future. Data science job roles are likely to get more specific, which in turn will lead to specializations in the field. People inclined towards this stream can exploit their opportunities and pursue what suits them best through these specifications and specializations.
Data is generated by everyone on a daily basis with and without our notice. The interaction we have with data daily will only keep increasing as time passes. In addition, the amount of data existing in the world will increase at lightning speed. As data production will be on the rise, the demand for data scientists will be crucial to help enterprises use and manage it well.
In today’s world, we can witness and are in fact witnessing how Artificial Intelligence is spreading across the globe and companies’ reliance on it. Big data prospects with its current innovations will flourish more with advanced concepts like Deep Learning and neural networking. Currently, machine learning is being introduced and implemented in almost every application. Virtual Reality (VR) and Augmented Reality (AR) are undergoing monumental modifications too. In addition, human and machine interaction, as well as dependency, is likely to improve and increase drastically.
The main popular technology dealing with cryptocurrencies like Bitcoin is referred to as Blockchain. Data security will live true to its function in this aspect as the detailed transactions will be secured and made note of. If big data flourishes, then Iot will witness growth too and gain popularity. Edge computing will be responsible for dealing with data issues and addressing them.
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The need for data science experts is thriving in every job space and is not limited to only technology. Since this is a highly in-demand career choice and guaranteed high-paying salaries, an advanced education coupled with excellent skills is mandatory. Data scientists are highly educated and boast of intelligence and a certain skill set relevant to the field. Following are some of the popular data science careers you can crack with an advanced degree:
There is a distinct space and need for professionals who have insight into how a business can flourish with data have driven solutions and implementation. Data science experts are required and valued in almost every field. Many businesses and even governments depend on big data to provide efficient services to their customers. The data science trend will not be taking a backseat anytime soon.
With this, we come to an end of this Future Scope of Data Science article. I hope you have an idea of how big is the effect of Data in our Day to Day life and how it’s going to shape our future.
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