"Just knowing your data isn't enough, you have to know how to apply it correctly. This is what separates rich people, from extremely rich people."
The person who coined the term is a genius. I can say that with full confidence because I am the one who quoted this. Yeah, you're welcome for this wisdom bomb.
The world is changing and we are in the middle of a data revolution. It's all about collecting, analyzing, and interpreting information from our digital footprints.
This is going to be an essential skill for any successful professional in the future because companies need people who can extract insights from their data to gain competitive advantages.
The demand for data scientists is at an all-time high and there are still a lot of positions to fill.
Data Science is a field that has been growing exponentially in the last few years.
The data science education industry is just as booming with new schools popping up all over the country to meet the demand for qualified professionals who can work with this technology and find trends within data sets.
It's hard to imagine what life was like before we had such an advanced understanding of information, but it seems as though things have only gotten more complicated now that we can see so much of it at once.
The need for data science education is huge and it's only going to grow. Data scientists are the new rock stars of today, but this field is not easy.
The past few years have seen an explosion in the use of data science, with every industry trying to figure out how they can incorporate it into their business. The world is shifting and we are living in a time where everyone needs to know how to interpret these types of statistics.
Data Science is a new and emerging field that can give insights into trends, what's going on behind the curtain, and how we are living our lives.
Data science education is becoming more and more necessary as data becomes an increasingly large part of society.
The demand for people with data science skills will only increase in the coming years as we become more reliant on information technologies to find answers to life's most puzzling questions.
So, in today’s article, you will learn about
- What is data science?
- Importance of data science in today’s world
- Data science market in the United States.
So, without further ado, let us get going.
What Is Data Science In The First Place?
I am going to assume that you’re the kind of person who skips introduction. Yeah, you ain’t got time for any of that stuff. So let us get down to business.
Data science is the implementation of various tools and techniques along with using different software and
machine learning to find out patterns and analyze raw data.
In today’s time, there is too much data everywhere. No seriously. On any given day, more than 2 quintillion bytes of data are being produced every day.
And all this data is your typical gold in the goldmine, waiting for someone to dig it out.
Data is what separates people. The more you can analyze your data, the more you will be able to target your potential customers.
But the biggest issue that comes up, is the sheer vast quantity of data. This is why data science is so important. Data is always available. It is how we utilize it that truly makes all the difference.
So, this leads us to our next point:
Why Is Data Science So Important?
As we have mentioned before, today, there is a huge quantity of data. And at the same point, it’s completely unstructured, making it extremely chaotic to find patterns, especially for a company that deals with a huge number of clients.
To crack this code of data science, you need professional individuals who solve these questions by using statistical analysis, mathematics some amount of computer science.
And what is the result of all this hard work? Data scientists can present all their important data in the best format so that entrepreneurs can understand their weak points and address them
At the same point, this data analysis allows us to find out our perfect target audience based on their target search intent, choices, and all other factors that combine to give us the perfect idea of what our target audience truly needs.
So, now we know what data science is, and we know why it is important. Let’s now turn to the juicy part, which is:
What Does The Data Science Market Look Like?
In 2019 the market for digital science was around 95 billion dollars. Can you imagine how much is it worth today? 100 billion dollars? 150 billion dollars? How about 200 billion dollars.
If you have guessed 200 billion dollars then congratulations! You are wrong. Imagine, more like a whopping 322 billion dollars. At the same point, today business has changed, a lot. Companies focus more on different ways of using data to optimize their revenue and all that data is unstructured.
Till now, entire North America has the largest share when it comes to data science and market.
Depending upon your skill level, in the US you can earn up to 100,000 dollars in this field.
And that is not just it,
according to Mckinsey, most probably there will still be a shortage of scientists in the coming years.
Conclusion:
Before we end our article, if you are looking for working in the field of data science, then please do focus on these aspects:
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High-end skills in deep learning frameworks for example Tensorflow.
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Competence of Hadoop and spark.
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Deep knowledge of Math and statistics.
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Working knowledge in a programming language such as Python or java
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Databases: NoSQL
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The idea of machine learning.
Thank you for your time. See you later!
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Harnil Oza is a CEO of HData Systems - Data Science Company & Hyperlink InfoSystem a top mobile app development company in Canada, USA, UK, and India having a team of best app developers who deliver best mobile solutions mainly on Android and iOS platform and also listed as one of the top app development companies by leading research platform.
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