While all the leading companies are investing in data, with the possibilities increasing every moment may it be the field of marketing, advertising, finance, management etc. There are many reasons to support the move of the industry. Data science combined with machine learning and artificial intelligence is the future of most of the things. The leading digital media company ‘Wired’ in their recent article compared data to be the new oil of the digital economy. The power behind this can only be unveiled by experimentation and new algorithms.
Data science is the large inventory of possibility where the personal experience of the scientist can’t be measured. It is a derivative of many algorithms, patterns and analysis on a set data that deduces results. Articles state that data science is the next big thing but there is a deviation mentionable here ‘Data science is the present that can make a difference to every aspect of the future’. here’s how!
1. Most of the social networking companies have been using our data to predict our emotions, recommend us things we would like and been analyzing everything we share to predict this as well.
2. Ecom has been booming for while it uses recommendation algorithms to retain its customer and increase the traffic flow on the platforms.
3. While time is money so is our presence to advertisers and search engines which can to some extinct predict the next thing, any person would be searching for instance googles ‘I am feeling lucky’.
4. Image recognition, artificial neural system and self-building algorithms are some of the other aspects to ponder.
While data science has mysterious and exotic approaches one can think of, so is its vastness and obscure nature. Which is also create a large number of opportunities. The need to secure data has increased as well. Increasing number of cybercrimes have led to the question is the data secure. The capacity of data is untold and unheard because the experience is low.
Machine learning and artificial intelligence based on data has got the technology industry go crazy as it is believed that it can solve problems which humans could only crack. Data combined with machine learning has started making sense to things which were said to out of scope of humans. Which makes the results more efficient, reduces overall cost and works without complaining except for the bugs!!
The power of data is which cannot be calculated and foretold. It is a revolutionizing key to the locks which have been thought to be sealed. The proper skill and mind set can minimize large and long accumulated problems in society, economy, and various industries.
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