Data Science has captured the imagination of the corporate world. Things which were beyond imagination about a decade ago are made possible with the help of Data Science. In the last few years, no other technology has had the kind of impact Data science had on the way businesses are run and it has just started. The scope of Data Science is huge to say the least.
Google processes in excess of 20 petabytes of data every day, if there was no data science, Google would not be as efficient as it is today. This is one classic example of how the art of data science is making things easier for everyone. Many a times we don’t even realise that the data science algorithms are running in the background when we use certain tool or application.
Another prime example of data science is digital marketing. Right from the display banners on different websites to the digital bill boards almost everything is decided with the help of data science. With the help of the understanding of user’s past behaviour digital marketing professionals can target a specific audience for the product or services they are trying to market.
There are many more real life use cases of data science like, speech recognition, image recognition, recommendations of various products and services online ecommerce websites like Amazon and Netflix, fraud detection and many more. Data Scientist has been declared as the sexiest job title of 21st century and it is not for no reason. Irrespective of the industry, data science is helping in extracting vital information which was hidden for a long time. This extracting of information has been proved revolutionary for the corporate world.
However, just like any other emerging technology the biggest challenge corporates are facing is the lack of data scientist. There is no shortage of data (it is being generated at an extremely fast rate) but the professionals who can extract meaning out of data are very less in number. This is one of the reasons data scientist is the most sought after job in the world right now and as per the trend it will remain the most sought after job for many years to come.
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