Data science is a new buzz! It is critical for every organization as they open multiple doors for huge opportunities to ensure growth. Data science helps organizations in leveraging the potential of available data like never before. So, Data is acquired by enterprises from everywhere in more effective ways than never before, as having real-time customer data helps in finding the answers for business related queries after analyzing it. In order to use this collected data to the maximum potential, one need to find effective ways to process it, which is called Data Science. Basically, it is related to the number of customers and their behavior’s study and analysis. Data Science is now used in human resources, healthcare, marketing, financial and all other possible government and non government enterprises where data can be generated easily. And it will remain one among the fastest growing fields in 2017. In this post, we will cover top data science predictions for 2017.
Understanding the real power of Data Science
According to Harvard Business Review
“Businesses are generally 6 per cent more profitable than their competitors when they rely on data-enabled decisions.” It means Data Science enables organizations or enterprises in taking better decisions all along providing an effective solution for every business problem. It also helps in predicting future of enterprises when they are failing to perform up to mark because of any reason. According to TeamLease Service, “By 2020, India will face a demand-supply gap of 2, 00 00 data analytics professionals.” More professional are required to meet this requirement. Whereas, NASSCOM (the National Association for Software and Services Company) is working on implementing upgraded curriculum including data analytics and big data in engineering colleges. So, off course, in 2017, big data will remain a rapidly growing field with new infrastructure development and applications.
Data Science Predictions for 2017
Where will the Data Science Industry move ahead in 2017? Predictions say that the industry will continue fast growth throughout 2017 with more possibilities.
Internet of Things (IoT) to Overpower Traditional Business Intelligence
Data science and IoT work together. GE’s Industrial Internet Insights Report predicted, “The Internet of Things (IoT) market will contribute between $10 and $15 trillion to global GDP in the next 20 years, which can be witnessed in the rising popularity of IoT skills in the Data Science marketplace.” Big companies like Microsoft, IBM, Intel etc., are hiring more Data Scientists with IoT skills. Predictions say that in the year 2017, the use of a new range of Business Intelligence (BI) devices will increase in applications like voice recognition, health check-ups, manufacturing etc. Gartner predicted earlier, sensor-driven devices use will overpower all parts of human life, whereas, about 50 per cent of business intelligence platforms will take advantage of collected data.
Machine Learning Boost
There is a very close relationship between Data Science and Machine Learning (ML). One will see the integration of Machine Learning in Data Science widely in 2017 as it will help in using historical data of enterprises in a better way. ML will also help enterprises to maximize the impact of micro services by understanding their customers’ behavior minutely.
Drive Healthcare by Transforming the Ways of Treatment
As the healthcare industry is moving towards digitalization, data science is helping hospitals to offer patients better healthcare in a safer hospital environment. In addition, in 2017, doctors can make use of available data to take patient-care decisions.
Data Science Utilization in Governance Control and Business Operations
Data Science helps in running business operations smoothly. As the enterprises have wide information about their customers and partners and they make use of this information in a regulated as well as non-regulated way. Data scientists incorporate multidisciplinary cloud-based technologies to generate notebooks, get an access to algorithm libraries, project tracking tools, robust security systems and governance controls.
According to the predictions, Data Science is a growing industry and the year 2017 has more growth prospects, consequently the demand for cognitive computing and predictive analytics will remain high in 2017. This requires all traditional programmers to remain updated with new data science skills in order to stay relevant, employable, and effective in their careers.