Data Science is the Key to a Smart Future!

By Akshay Sharma January 20, 2020 Business

The advent of the fourth industrial revolution has turned data priceless. Organizations with the proper strategy and skilled hands are able to generate enormous value through data and the huge potential of data is yet to be fully realized.

How is Data science helping industries?

Digitalization and automation are the need of the hour for any industry. IR 4.0 demands efficient and smart systems through which a better future can be realized. Decision making needs to be fast and based on accurate information. Companies will not be able to generate value and businesses will not be able to grow without adapting to an increasing digital ecosystem. This is where data science comes into play. Let us look at a few examples:

Banks and financial institutions need to put sophisticated systems in place so that frauds can be reduced and customers feel secure. Institutions like Bank of America, JP Morgan, Finserv have already taken help of data science to build smart systems with the capability to prevent frauds in real time. Such systems work on the basis of historical data and with processes like Machine Learning they can become more efficient with time.
E-commerce websites has already made it big with their customized recommendation systems based on data science techniques. Many companies have also taken help of data science to build chat-bots to serve customers with better efficiency and it has been a huge success so far.

Not only businesses but also the entire human race in general!

Climate change is a big issue today and it is creating problems at a global scale. In countries like India which depends a lot on agriculture, climate change is already disastrous for the economy. However, India has put much emphasis on digitalization and aims to capitalize on data science to seek innovative solutions. From forecasting weather with extreme accuracy to getting rid of inefficiencies, data science has been instrumental in fighting climate change!
Great progress has been made in the field of medical science as data science has proved itself to be crucial in building machines capable of detecting cancer better than their human counter parts!

Excited about data science?

Data science has also emerged as one of the top career fields and many with a keen interest on exploring adventurous and challenging avenues are pursuing data science. While many more are already hugely successful with handsome pay packages and fabulous life style!
However, in order to become a data scientist or a data analyst or a data architect you need to pickup relevant skills. For instance, Python Data science is one of the top- in-demand skills and thus gaining proficiency in Python is a must for aspiring data scientists. Apart from Python in Data science you will also be required to have a keen sense in statistics, data modelling, analytics tools and also should have a sense of creativity. Hence, get enrolled in a data science course today and begin your journey of success!