Tech Tuesday: Data Science
As a data-driven society, information forms the basis for all the research. Large volumes of raw data are collected daily. Using the latest techniques and tools, this data is analyzed by data scientists who predominately have a stronghold in computer science, mathematics, business, and communication. Data science is a must for technological advancement, and hence it has made its way to the latest technology trends 2020.
You can have data without information, but you cannot have information without data.
- Daniel Keys Moran
Data is essential for various fields. In marketing, it is crucial to understand consumer behaviour. By studying the browsing history, the business can then advertise the right products to the consumers at the right time. To understand data science, you will need to have an iron grip on concepts such as machine learning, statistics, programming, databases, and modelling.
You can reap the benefits of this field, and here?s why you need to take up this career path:
High demand for data scientists
This field can prove to be lucrative as there is a high demand for data scientists. By 2026 around 11.5 million jobs in this field are predicted to grow on LinkedIn, and this data speaks for itself. The best time to grow in this career is now. Even though the demand for data scientists is high, there is a gap in the capability of aspiring candidates lining up to take up these positions. Along with the increased need for these professionals, they are generously paid.
The career of the future
Every booming business is succeeding because of its firm grip on data. Data scientists study the past data and predict the future path for business. Through this forecasting, they can branch out in the right direction with new innovation.
You can save lives
In the healthcare and wellness sector, using data science can detect the onset of illness and administer preventive and remedial treatment to the patient.
No more routine tasks
As a data scientist, you can depend on machines to carry out the routine and redundant tasks. And your job would be to understand and apply this data and advise the decision-makers.
Awaken the Sherlock within you
Raw data will not solve anything unless accompanied by the right questions. After understanding the situation, as a data scientist, you will need to ask many questions. These questions will help you mine the correct data, which will lay the path for further development.
Few key pointers to keep in mind:
- It is crucial to understand that data can be sensitive, and you are responsible for handling such data. Misuse of data can lead to legal battles as well.
- If your competitor has access to the same data, you will need to work around this data smartly and swiftly.
- To access and understand this data inside-out, you will need to have thorough domain knowledge which can be a daunting task. Your sense of discernment and ability to handle vast amounts of data comes into the picture.
- Another cause of concern is data privacy; with access to consumers? social media profiles and browser preferences, data can be misused for personal and business purposes. As a result, many laws have been enforced to protect the privacy of the consumer.