5 reasons why data science is the next big thing
If you remember the movie ‘Captain America – The Winter Soldier ‘ you will also recall the insane Project H.Y.D.R.A. from that movie. That project was based on an algorithm that collates all the available data of all people alive and decides who will be a threat to humanity. This plot takes Data Science to a fictitious level, but it also highlights the importance and scope of data.’
Eric Schmidt of Alphabet said that every two days now, we create as much information as we did from the dawn of civilization up until 2003. Data Science is the science of mathematically deriving knowledge from complex and large data to solve analytical problems. We still don’t know whether Data Science can predict the end of the world. However, what we know for sure is that the Data Science industry is the next big thing. Several reliable data science institutes are looking to pursue your career in the Big Data field. Here are five reasons to believe Data Science is the next big thing.
1. An enormous amount of data growth
People generate data daily. However, we are not aware of it. According to a study, 5 billion consumers interact with data every day, and this number will swell to 6 billion by 2025.
The amount of data in the world in 2018 totaled 33 zettabytes, and according to projections, it will rise to 133 zettabytes by 2025. Data production will only increase in the upcoming times, and Data Scientists will be at the forefront of helping enterprises use this data effectively.
2. Companies need people to manage data effectively
Businesses collect data from customers regarding transactions, website interactions, and more. But according to a report from Gemalto, 65 percent of the companies cannot analyze or categorize all the data they had collected. Plus, 89 percent of the companies felt they would gain a significant competitive edge if they could analyze information properly. As a Data Scientist, you can enable companies to analyze the data they have gathered effectively, saving their time and resources.
3. Data science is an evolving field
The increasing demand for data around the world has skyrocketed the evolution of Data Science. Data Scientists possess a wide variety of skill sets that can leverage data and information to enable organizations to make effective strategic decisions. They get opportunities to work and experiment with data to come up with suitable solutions for businesses. Many new exciting fields are emerging within the field of Data Science. These fields include Big Data, Artificial Intelligence, and Machine Learning (ML). Plus, new technologies like Blockchain, Edge Computing, Serverless Computing, and Digital Twins are emerging. These technologies employ several practices and techniques within the Data Science industry. Aspiring Data Scientists can gain expertise in these technologies by completing short-term courses.
4. High chances of career growth
LinkedIn chose Data Scientist as its most promising career of 2019. One metric for this selection was that the average salary for people in this role is $130,000. LinkedIn’s study also considered the likelihood that people could get promotions as Data Scientists and gave a career advancement score of nine out of 10.
LinkedIn’s conclusions indicate that companies keep data scientists on their teams for the long run. If businesses don’t consider data scientists valuable for their future competitiveness and prosperity, they won’t offer promotions.
5. Make a difference
Data Sciences enhance the growth of a business and also make the world a better place. By making sense out of complex meteorological data, we can foresee weather changes more accurately. We can perform comprehensive space investigations better thanks to Astronomical Data Science. Most importantly, Environmental Data Science strengthens our hold over sustainable development.
Story by David Van Der Ede