The most basic definition of data science is that it involves the collection, storage, organization and analysis of massive amounts of data. Yet without a deeper understanding, one might think a data scientist sits in a dark room, huddled in front of a screen, pouring over streams of digital content.
That’s not the case at all. In fact, in modern years data science has become less and less concerning the data itself, and more about the technology and tools used to communicate with it. Advanced solutions like AI, machine learning and sturdy analytics tools make it possible not just to prepare and understand massive stores of knowledge but at unprecedented speeds.
The tools are so powerful you don’t need to know how to code to use most of them — it always helps to have programming experience, however.
Today’s data scientists now take the data that’s been ingested and processed by an advanced analytics system and translate the information for the rest of an organization. For example, they might point out trends to executives, who will use the information to make more informed decisions.
They might pass details about customer behavior on marketing for building more targeted and successful campaigns. Or, they may decide what forms of data to filter into a storage system and, of course, there’s also the adverse — deciding what stored information to put to use.
That’s not to say data science doesn’t take skill and knowledge, because it most unquestionably does. You could argue that data science is one of the most complex and challenging careers related to technology and digital content.
What it highlights is how different the data science industry of tomorrow will be. Solutions like automation, machine learning and cheaper, more powerful analysis applications mean the field will be more accessible, even to smaller businesses or individuals.
Moreover, the entire landscape will change irrevocably by even more references or channels of erudition. Smart home-related IoT, for example, or industrial IoT are two principles generating a large influx of data sources.
There are many new data opportunities and generation points, which only helps to bolster the need for processing and analysis.
Where Is Data Science Going?
Overtaking the corporate world is the idea of the digital transformation, which essentially means upgrading all processes, systems, and solutions for the modern age.
Thanks to mobile, online or cloud computing, and service-based solutions, nearly everything and anything want robust currents of data to perform. More importantly, synchronizing the data channels across an organization leads to the improvement of productivity and revenue, among other benefits.
Consider inventory management in today’s world, for instance. What was already reasonable to track using paper-based records, has now become digital-oriented.
Not only do retailers and distributors need to track what’s in their warehouse or partner storage, but they also have to deal with online orders and the like. This means upgrading a conventional paper-focused record system to include online processes, as well as more digital-centric local processes.
Data science, then, — or the analysts following the name — have grown more intricate. Scientists now have their hands in more operations and processes that would have otherwise been siloed in historic operations. And it’s not just because they have to be, it’s because many companies realize the potential of having a true data scientist — and their tools — at the ready, particularly when it comes to operational performance and streamlined systems.
To toss out some real-world uses, organization-wide audits, of any kind really, are a great place to get data scientists involved. Scientists and analysts have entrance to a deep selection of insights, enabling them to help make for a coming audit and to also help identify trends and events often missed by the naked eye.
Some of the other operations that would benefit from a data scientist include order processing and fulfillment, marketing, logistics, manufacturing, research and development and so much more. The related technologies and strategies can be applied to every process or system.
It’s the digital documentation of current, historical and future trends that makes all of this possible. With the best tools, scientists can create predictive models to put a successful strategy in place — nearly supported — well before events play out.
What Does the Future of Data Science Look Like?
Knowing all this, it’s not a time to envision the future of the data science industry becoming more expansive than ever — as it concerns almost every enterprise-level process — and it will be rampant with automation, machine learning, and efficient solutions.
About 95% of businesses have some need or requirement to manage their unstructured data, made more applicable through big data analytics and related analytics tools. Moreover, 53% of the world’s biggest companies previously have or plan to adopt big data analytics resolutions.
The future of data science is brilliant, along with the instrumental influence it will have on the future of business as a mass.