Discover all the essentials in Data Science.
What does Data Science cover?
Data science combines multiple fields, including statistics, scientific methods, artificial intelligence (AI), and data analysis, to extract value from data. Data science encompasses preparing data for analysis and processing, performing advanced data analysis, and presenting the results to reveal patterns and enable stakeholders to draw informed conclusions.
Where Do You Fit in Data Science?
Data is everywhere and expansive. A variety of terms related to mining, cleaning, analyzing and interpreting data are often used interchangeably, but they can actually involve different skill sets and complexity of data.
What can Data Science be used for?
Data science can be used to gain knowledge about the behavior of a trend due to the data gathered. Knowledge gained from these data can be used as a guide in decision-making for future actions. Collecting and analyzing data can enable you to identify emerging trends in the market.
DATA SCIENTIST
DATA ANALYST
DATA ENGINEER
A JOURNEY
THROUGH DATA SCIENCE
WHY IS IT DATA SCIENCE?
History of Data Science
The term “data science” has been proposed by Peter Naur as an alternative name for computer science way back in 1974. In 1996, the International Federation of Classification Societies became the first to specifically feature data science as a topic. However, the definition was still in flux. In 1997, C.F. Jeff Wu suggested that statistics should be renamed as data science. He reasoned that a new name would help statistics shed inaccurate stereotypes, such as being synonymous with accounting or limited to describing data. Hayashi Chiko, in 1998, argued for data science to be a new, interdisciplinary concept, with three aspects: data design, collection, and analysis.
INDUSTRY
Well- Known
Data Scientists
Some of the faces presented here were evidences that data science can be as successful as professions in the medicine field. Still, with the combination of skill, perseverance, and patience success can be on hand's reach for anyone.
FACTS ABOUT DATA SCIENCE
Data Sources
Data science, sometime in the year 2008, shot to prominence and has since then gathered upward momentum to become a dominant trend in the IT field. The popularity and acceptance of data science have soared over time because it enables businesses of all sizes to identify patterns in data, consequently helping to explore new markets, manage costs, increase operational efficiency, and build a competitive advantage.
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For a Fortune 1000 enterprise, only a 10 percent increase in the accessibility of data will lead to net additional revenue of 65 million dollars
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47 percent of organizations believe that data analytics has fundamentally or significantly transformed how their industries compete
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Almost 20 percent of the total technology budget is being spent on data analytics by 73 percent of companies
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Retail companies, nearly 62 percent, have gained a competitive advantage from data analytics
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Effectively managing unstructured data to extract meaningful business insights is a top priority for 40 percent of businesses
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Individuals create 70 percent of the online data, of which 80 percent is stored, managed, and analyzed by enterprises
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The Open Graph API from Facebook aggregates 1 billion content pieces per day
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Over 75 billion IoT (Internet of Things) connected devices will be in use by 2025, a 3x increase over IoT-enabled devices in 2019
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15 million dollars a year is the financial loss organizations suffer due to poor quality of data
Data Special Benefits
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Text data comprise 91 percent of the data used in data science
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41 percent of the data in the data science pipeline comes from public data
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Internal systems generate nearly 78 percent of the input data utilized in data science
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33 percent of the data is images, 15 percent is video, and 11 percent is audio
11,400
DATA SCIENTISTS WORLDWIDE
40K
SEARCH QUERIES ON GOOGLE PER SECOND
$100,560
AVERAGE SALARY
463
EXABYTES OF DATA CREATED DAILY
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Data Science Popular Programming Languages
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A worldwide survey carried out by Kaggle, a subsidiary of Google LLC, reveals that 36 percent of data scientists favor the R programming language for data science work
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15 percent of data scientists use Javascript, 10 percent rely on Java, 9 percent prefer C/C++, and 4 percent employ C#
Data Science
Job and Salary
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According to a survey conducted by CrowdFlower, 50% of surveyed data scientists said that they are "thrilled" with their jobs, and 90% said they feel happy with what they do.
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The CrowdFlower survey also reports that employers contact 30% of data scientists multiple times a week for new employment opportunities, 50% are contacted once a week, and 90% are approached by employers once per month
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While 80% of data scientists spend their time finding, organizing, and cleansing data, only 20% perform data analysis, an IBM study states
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The earnings of a data science engineer range from $65k/year to $153k/year
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An Analytics Insight survey forecasts that data science will create 3,037,809 new openings by the end of 2021
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Over 60% of companies believe that it is not easy to fill data science roles because of severe talent shortages