Data Science and the 21st Century

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What is Data Science according to you?

For many of you, you can relive your first swimming class, so much of water and you feel drowned.
Yes, today, we live in a data flooded world, where data and data alone leads to meaningful results and information. Without data there is no decision, no future planning or anything that we could think of. Data is fast transforming and transformed industries and human activity, including commerce, entertainment, agriculture, government, and the sciences.

This tells us that data is also one of the main driving factor for a result oriented social science. The world we live has travelled so fast from No data to too much data.
I have mentioned in my earlier blog post, Understanding MOOC and its future, its data that drives the dynamics of online education and more.

Marc Andreessen has famously pointed out that software is eating the world-in his interview in 2011. Each time a human interact with the software (inputs any information the form of records) or when software interacts with other software, Data is created. Every successful software creates data making software so powerful, acting as a crystal in transforming the world we live in.

So now can we find an answer to What is Data?

Data science is an interdisciplinary field about processes and systems to extract knowledge or insights from data in various forms, either structured or unstructured, which is a continuation of some of the data analysis fields such as statistics, machine learning, data mining, and predictive analytics, similar to Knowledge Discovery in Databases (KDD). excerpts from Wikipedia

Who is a Data Scientist:
Someone who is an expert or a Business Consultant who excels at analysing data, particularly huge data to help the business gain a competitive edge. They possess a combination of analytic, machine learning, data mining and statistical skills as well as experience with algorithms and coding.

Sexiest Job of the 21st Century: DJ Patil and Tom Davenport labeled data scientist as “the sexiest job of the 21st century.” Studies and different research studies have shown how lucrative the data scientist jobs are. There is a huge gap between the demand and supply chain of data scientist. As per the research firm Gartner back in 2012 says that there will be 100,100 data scientists’ shortage by 2020 in US alone.

In O’Reilly’s 2015 Data Science Salary Survey, by John King and Roger Magoulas, data scientists in the United States earned a base median salary of $104,000, while a Glassdoor survey found the national median to be about $113,000, nearly double the median for a regular programmer.

Follow Lamalu Arora:

Lamalu Arora is an MBA and works as a compliance auditor. With over 16 years of experience in Fraud Detection and Investigation she’s keen in Research. She has been recognised at the corporate level many times for her high performance. She is also interested in exploring and learning and believes in continuous improvement.

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