First of all, what is data science?
It is the process of collecting, storing, segregating, and analyzing data that serves the purpose to carry out data-driven decision-making for organizations. When you take a look around, you feel like we are living in a data jungle that needs to be given proper direction. According to Harvard Business Review Data Science job is going to be the “The Trending Job of the 21st Century” and also quoted that “The shortage of data scientists is becoming a serious constraint in some sectors”.
Why and how?
That’s what we are going to discuss in this article. The emphasis is on the current turn of events and eventual fate of Data science patterns, what their effect will be, and how to get ready for it.
Evolution of IoT’s
What is the major source of data?
What is the source of major authentic Data? One obvious source is IoT. Presently, we have roughly 7 billion associated IoT gadgets around the world, and this number is anticipated to increment to 21.5 billion out of 7 years. Not exclusively are more gadgets coming on the web, yet as the equipment additionally improves, the kind of information they convey will be more extravagant and more assorted. The biggest generators are IoT information that is relied upon to be the carrier, mining, and auto enterprises.
It’s a very simple equation more online devices will produce more data. Also, the type of data generated by IoT devices will be more authentic and rich in quality. To manage and analyze such data in the future there will be a need for Data Science experts. Research shows that there will be an increase in the use of IoT devices by 2021. Check a few researches below.
Gartner – “We hope to see 20 billion web associated things by 2020.”These “things” are not universally useful gadgets, for example, cell phones and PCs, however devoted capacity objects, for example, candy machines, fly motors, associated vehicles and a bunch of different models.
Cisco – “Planning ahead, Cisco IBSG predicts there will be 25 billion gadgets associated with the web by 2015 and 50 billion by 2020. Note that these appraisals don’t consider quick advances in Internet or gadget innovation; the numbers introduced depend on what is known”
Statista – “Shrewd home gadgets, when associated with the web, are a piece of an organization of gadgets called the Internet of Things (IoT). These connected devices share data among each other, providing benefits such as better quality of life and greater insight into the business. The absolute introduced base of the Internet of Things (IoT) associated gadgets is extended to add up to 75.44 billion worldwide by 2025, a fivefold expansion in ten years. In 2018, it is assessed that among all the IoT gadgets, 1.2 billion will be associated/brilliant home gadgets.”
Forbes – “Server farm and examination will be the quickest developing IoT fragment, arriving at a half Compound Annual Growth Rate (CAGR) from 2017 to 2021.
McKinsey Global Institute – “Our base up investigation for the applications we size assesses that the IoT has an all-out likely financial effect of $3.9 trillion to $11.1 trillion every year by 2025.”
Impact of AI and Machine learning implementation
The new wave to use Machine Learning tools and AI will unlock the value in data AKA -Data Science. The three intrinsically interweaved patterns of expanding measures of information improved AI calculations, and better AI is moulding the information science field in energizing manners. There is no doubt that data science is growing and we have just begun to scratch the surface.
Increased use of Social Media
Today we have entered the word f virtual reality; people are understandably smart about giving up data to businesses than people from past generations. People know that data breaches happen and they will have severe consequences. Hence, companies cannot afford to treat their data irresponsibly. Data scientists can help businesses to use data in a beneficial way as well as maintain privacy.
According to Blacklinko In 2020, there are 3.81 billion active social media users in the world, and this is an increase of 9.2% year-on-year from 3.48 billion in 2019. The data will continually grow as a result of digitalization and companies find the need to collect even greater amounts of information on customers.
As per the new General Data Protection Regulation (GDPR), many companies will have to make significant changes in order to comply. To do so organizations will be having a need for data scientists. The new policy says customers can request companies to delete some kinds of data, necessitating that companies understand where and how they store such info.
According to Glassdoor Data Scientist is amongst the 50 Best Jobs in America for 2019. Well, this is not new as data Science is been the hottest job for four years in a row. The job score is 4.7 and the job satisfaction rating is 4.3. Open positions for data science are 6,510 paying a median base salary of $108,000. What is the future of Data Science? Let’s just refer to The U.S. Bureau of Labor Statistics reports. The report stated that the demand for data science skills will drive a 27.9 per cent rise in employment in the field through 2026. What’s more, that there a huge demand, but there is also a noticeable shortage of qualified data science professionals.
Data science certified professionals are needed in every job sector nevertheless it’s virtual as of now. However, for a fact not just in technology but every industry is going to be hiring Data Scientists. If truth to be told the five biggest tech companies—Google, Amazon, Apple, Microsoft, and Facebook—only employ one half of one per cent of U.S. employees. Despite that in order to break into these high-paying, in-demand roles—an advanced education is a must.
Thinking of a career in data science? Going for Data Science certification is definitely going to be a smart move, not just because it is trendy and pays well, but because data very well may be the pivot point on which the entire economy turns.