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Data Science

Importance of Data Science

Importance of Data Science and Data Scientist

Over the period of last 10 years, there’s been a rapid increase in both the data generated and retained by companies, as well as you and me. Sometimes we call this “big data,” and we’d like to build something with it. Data scientists are those who collect and analyze data and figure out just what can be done with it. The demand for data scientists is increasing so quickly, that people predict that by the end of 2018, there will be a 50 percent gap in the supply of data scientists versus demand.

A data scientist is the adult version of the kid who can’t stop asking “Why?” A data scientist is someone who does the following tasks:

  • Data analysis
  • Modeling / statistics
  • Engineering / prototyping

A number of articles have noted that the demand for data scientists is racing ahead of supply. People with the necessary skills are scarce, primarily because the discipline is so new. But, the situation is rapidly changing and the universities around the world are offering different kinds of graduate programs in data science.

Data science is deep knowledge discovery through data inference and exploration. Data Science is emerging as one of the new milestones for professions and academic disciplines in the 21st century. Ultimately, they are in demand because it enables companies to operate and strategize more intelligently.

According to Harvard business report, it’s been said that Data Scientist is the “most preferred job title of the 21st century”.

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Author - Madhu B.R.

Associate Professor, Department of CSE, SET Jain University