future of data science

Data Science is the fastest emerging field in the world. It analyzes data extraction, preparation, visualization, and maintenance. Data scientists use machine learning and algorithms to bring forth probable future occurrences. Organizations analyze themselves to grow. Data Science in the future will be the largest field of study.

What is Data Science?

Data Science is the field of study where a large volume of data is studied using modern tools and AI to ascertain their patterns.

Data Science is the study of data such that a pattern emerges from it. This pattern helps in making better business decisions. It's not something new, but the application of Data Science has been tremendous in this age of the internet. Data Science combines business and mathematics by employing a complex algorithm to the knowledge of the business. As a result, you can have a prediction model for your business with just a dash of statistics.

Not only in business, but data analysis is also paramount in various fields like predicting disease outbreaks, weather forecasting, recommendations in healthcare, fraud detection, etc.

Before a data scientist can draw any conclusion, it goes through five stages, also called the lifecycle:

Acquisition- This is the stage in which the data is collected. Here the data gathered is unstructured and raw.

Exploration- This is the most time-consuming task of the life process. Here the data is cleaned and identified as useful or useless. Then, the data scientist brings it in the form where it is ready for the next step.

Modeling- This is the part of the process in which a data scientist looks at the data and determines which model will best suit the required analysis.

Analysis- This is the crux of the entire process. Various analyses are performed on the data to obtain the desired results.

Reporting- The obtained results are shown in a readable format, be it a chart, diagram, or simply a report. Here data is presented in an understandable form.

Data Science bootcamps are also a great way to learn about these skills and more in a short time. Data Science jobs in the future are about to explode, which is discussed in the article further.

Is Data Science a Beginning or an End?

So now that we understand data science, the question arises how viable is it in the future?

The answer is- very! Bill Gates once said, "Content is King." But Data is the queen. Consider this… twenty-five years ago, when the internet was still a thing of the future, the local grocers were still using Data Science to analyze which products were selling more and which were selling less. Then, based on this data, they would order the next batch of groceries. This was data analysis, albeit at the crudest level, but it was still data analysis.

So, with the advent of the internet, this analysis is becoming increasingly sophisticated with the use of artificial intelligence, or AI and machine learning. Moreover, as the economy evolves, learning consumer behavior will be the chief tool for marketing. We are at the very cusp of the data collection explosion in such a case. There is currently a shortage of Data Science engineers.

The world is data-driven, and the need for qualified data scientists will only increase in the future. People now realize the importance of their data privacy on the so-called "free apps". On the other hand, giant companies like Facebook, Amazon, Flipkart, etc., are collecting data at an alarming rate.

Data Science's Contribution to the Future

As the data on the internet grows exponentially, the contribution to Data Science will also increase in the same way, and so will the Data Science job future. Whether fraud detection in a bank or finding a country's happiness index, Data Science will be around for a long time