07 Nov 2022

What Does The Future Hold For The Data Science Field

Ekeeda Moderator

Works at Ekeeda

Is data science on the path to depletion? Is the data science field too stagnant for growth? Or is it too late to pursue a career in data science? And many other questions often confuse the aspirants and working professionals who wish to make an aspiring career in data science.

Relax! Our blog will help you derive answers to such questions and know what the future holds for data science. Data science and the new evolving technologies have aided in these transformations and helped to know that future is quite bright and opportunity-seeking. But it depends on the quality and scope of data that the companies will obtain from various sources like gadgets, sensors, healthcare machines, mobile phones, apps, and more. With the help of data science and machine learning techniques, data scientists are able to solve complex data problems.

Data science is a vast field that integrates computer science, statistical techniques & business skills. Data scientists should have unique experience and skills in data science fundamentals in order to be qualified for positions. Statistical analysis, data visualization, ML techniques, and assessment of business-related concepts are a few of the things data scientists should learn.

Despite the expansion of AI and the robotics field, data scientists continue to be in high demand. Infact, there will be 11.6 million data scientists jobs by 2026. ML constructs self-sustaining frameworks including AI as a critical component.

Importance Of Data Science

Today's world is data-driven, and quintillions of data are floating around the globe. Thus, the future of data science is growing. When we account for the global population, the average person is expected to generate 2 megabytes of data per sec by end of 2022 which is enormous in the long run to even take the account of it.

2MB of data per sec generated by end of 2022

The scalability of big data is truly amazing, and it has already involved itself successfully in business and individuals’ personal lives. Customers and companies are getting more and more aware of data privacy rights and data habits.

200+ Zettabytes

It plays a dominant role and from now on, BIG data is set to play an influential role in the future. Data will be the new way to define health care, government, finances, and sales, businesses, marketing strategy, energy sector, e-commerce, and manufacturing. That means skilled data scientists will be needed across industries, sectors, and processes to meet the everyday challenges of data analysis and help innovate or improve the products, and services and provide a better consumer experience.

Cellular data traffic

Getting degree is fine, but being certified will help you achieve jobs in top data science companies in India. Once positioned you can take on and even contribute to what the future of data science holds.

Are you curious to learn more about data science? Read more: Data Science Skills, Education And Best Job Roles For Beginners

Interested to know about top data science course online – Click here

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Tech Advances Lead To Growth Of Data Science Jobs

IT-focused jobs have been growing at a rapid scale with the increasing importance of technology.

Data science job position has become one of the most in-demand jobs, following behind machine learning and AI, among the top emerging job opportunities in the world.

So, what’s feeding the demand for data scientists worldwide? Most businesses now depend on big data. Analytics and business intelligence solutions are now the two most important elements for reaching company objectives. Due to this, they consistently ranked data science skills as the most sought-after talent quality.

Data Science AI Machine Learning Is Dominating The Industry

Machine Learning and AI are some of the most impactful technologies that data scientists will encounter during the operational process. ML and AI have already started contributing significantly to business operations and promise to be major trendsetters in the near and even long term. AI uses automated solutions to filter enormous data sets with the help of data science techniques to gain valuable insights on how to make better data-driven business decisions. ML and AI are the key differentiators for business today.

Data Science AI Machine Learning Concept

Machine learning is the “ability of statistical models to develop capabilities and improve their performance over time without the need to follow explicitly programmed instructions.” It goes beyond the boundaries of basic automation to deliver greater insights. Coming back to the astonishing field of data science, several companies and businesses have incorporated data science into their daily operations. In fact, data is the new fuel to drive company statistics, and growth and offer unbeatable customer experience. It has emerged as the most important part of all operational aspects and a useful tool for finding out customer behaviour.

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Some Sectors That Use Data Science Techniques:

Retail & E-commerce – E-commerce giants like Amazon, Myntra, and Flipkart are industries that use advanced data analytics, and predictive analysis for client acquisition and retentionship. These e-commerce giants use optimization techniques in data science to the fullest and rely on data-driven decisions to execute successful marketing campaigns.

Healthcare Industry – It’s the most important industry that uses applications of data science in various divisions like drug discovery, images, genetics, monitoring patient health, tracking pandemics, etc. Healthcare has long embraced data science techniques due to the massive amount of data that floats around on daily basis.

Application of Data Science in Healthcare

It uses large datasets of patients to construct Data Science strategies to discover diseases at early stages and prevent them from getting worse. Healthcare is one of the most promising industries for data scientists who make efficient optimization in data science with medical experience. By combining these techniques, data scientists discover desired solutions and their availability across cities or country. Data science is required to assess the patient history and further track their aligning conditions. Experts can use it to avoid prolonged disease and offer the best health advice to patients based on data patterns and findings.

Automobile Sector – Yes! The industry has gone through significant changes in recent years and is still in the infancy stages of development. Self-driving automobiles, autopilot, face recognition/palm ID unlocks, destination cabs, automation in public transportation, everything needs advanced data science techniques to make the best data-driven decisions for their clients. For instance, the industry highly rely on skilled data scientists to track everyday trips, give the best offers, convenient travelling routes, etc. Thus, the automobile sector is sure to watch out for young aspirants and working professionals who wish to migrate to the hottest career field – data science.

Also Read: Data Science In Automotive Industry

IT & Relative Services – Of course, it is simply difficult to imagine the industry without the use of data science concepts. Data science is applicable in statistical & mathematical form clubbed with software engineering to bring process efficiency and what’s called as Machine learning. IT sector has contributed significantly to India’s GDP growth and data science is becoming a critical component of any successful data-driven business.

Read more: My Career Switch To Data Science After A Decade In IT Field

Banking & Finance Industry – When we want money security we immediately plan to deposit money in banks. But digitalization has made online transactions become more common and along with it comes the risks of data or account hacks, fraudulent transactions, and other risks that possess threats to your hard-earned money. Banking and financial data, security necessitate robust systems to detect fraudulent activities & risks associated with money. Thus, data science concepts will help the sector track the money transactions, figure out any frauds & risks, and offer robust security along with proper management of the money earned and invested.

Data Science in Finance

Understanding the traditional pattern becomes important to achieve customer satisfaction. It assists in creating meaningful customer interactions and provisions of appropriate client solutions. The banking and finance industry has recognized the value of using cutting-edge data science technologies to curb risk, analyze or monitor credit/debit transactions, crypto, and payment portals, collect internet banking data, and engage with customers for a better user experience.

On A Concluding Note –

Innovators are ones who will glance into the future and implement things for a better experience & customer engagement. With so much being discovered and still to discover, Data Science opens a plethora of opportunities and future prospects in nearly every industry – right from sales & marketing, to e-commerce, power-energy to health care and automobile, etc. resulting in large bubbles and cement aspirants with actions potential for future innovations.

No matter which background you possess, you can study data science and make a move for an astonishing career. Ekeeda data science course is designed by industry experts that give complete insights into concepts like Machine Learning, Data Warehousing, and Quantitative & Predictive Analytics. Graduates who have done this certified program are being hired by top data science companies in India in various capacities right from customer analytics managers to data engineers & statisticians and data analysts.

Are you ready to be a part of the future of Data Science? Join Ekeeda Data Science Program now. Get trained by industry experts, clear doubts by fortune Data Science experts through 1:1 live mentorship sessions, and gain industry-level experience through assignments, real-world projects, and an industry-focused curriculum. Prepare for interviews through mocks, profile building, resume writing, and communication skill sessions.

Enroll now and uplift your career.

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