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Why data science will power the future

Technological occupations proliferate in the world of personalized services and products, the abundance of data or the mechanization of processes. Data Science appears as one of the professions of the future because its main objective is to predict based on statistics: they are the business fortune tellers who guide the business according to the next trends, starting from the analysis of data. Do you wish to know why and how Data Science will power future then make sure to read about data science first.

What is Data Science?

It combines software, statistics, mathematics, programming and visualization with the aim of extracting data feasible to interpret and even create new information. The conclusions obtained will be useful for the development of products demanded in the market or the generation of business opportunities in a company. Data scientists are valued in large companies because they can predict the success of a product, the need for change in a service or customer behaviour when analysing trends in a specific area.

Although data scientists come from different areas of work because they are usually studied as a postgraduate or specialized course, they require qualities such as business domain, written and oral communication to work as a team, handling statistical probabilities and computer skills. Also, latent curiosity is needed to formulate hypotheses and test them by analysing data.

What is Data Science for?

Along with predicting risk elimination in business, your job is to detect anomalies such as fraud, classify information or make recommendations to the client according to their statistical interests – for example in Netflix. It is also dedicated to establishing patterns, punctuating products, marketing segmentations (age, sex, sociocultural level) or even automate processes to facilitate the daily work of a company.

Companies like Microsoft, IBM, Facebook, LinkedIn, Twitter or Apple work with data scientists to determine what the trends in the industry will be and how the public will react. With the increasing demand for customized products or services that take into account the particularities of the client and adapt to the flexibility required in the 21st century, the profession will be asked to perform increasingly specific marketing segmentations.

The abundance of data we experience will continue to grow as the Internet of Things (IoT) reaches every corner of the home, creating intelligent, hyperconnected cities for sustainability and efficiency, for example in the use of appliances. Data scientists will work to extract and interpret the information collected by IoT, a combination of areas that generates work output today but promises to intensify it in the coming years as the technology advances.

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