The new contagious trend in the market: Data Science – Learnxt

The new contagious trend in the market: Data Science

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The new contagious trend in the market: Data Science

“Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.”- Geoffrey Moore
Data Science is nothing but the future of Artificial Intelligence. It can be defined as the blend of various machine learning principles, algorithms, and tools used to discover hidden patterns from the raw data. The decisions to process a data set are made using machine learning, prescriptive analytics, and predictive analytics.
Earlier this year, global lockdown made every business go into turmoil and all their expectations from the business in the year went flat. Every sector came to a halt, either it is finance, manufacturing, or retail. But one thing did not change at all, i.e. Data Science.
In the times of the COVID-19 pandemic, data became substantial for the healthcare industry. However, data has always been significant in this sector. Data science techniques have helped to detect and monitor the massive volumes of COVID-19 contagious virus considering the pandemic situation. The providers anticipated the need for a hospital bed and other medical services. Apps like ArogyaSetu have been developed to determine the chances of disease occurrence and detect any cases nearby.
The importance of data science applications made headlines this year across the globe for ensuring continuity and growth of the businesses during these vague times. Also, the constant help of data science this year helped many businesses with a constant flow of revenue during these economically challenging times.
Let’s have a look at the skills required to be a good data scientist:
Data science is not a geographically restricted profession. Once done, a career can be pursued across the globe. It’s a highly global job. Glassdoor named data scientist as the number one job in the US for four years in a row. Bureau of Labor Statistics reports that through 2026 the demand for data science skills will make a rise in employment by 27.9 per cent.
There is a rise in demand for data science experts in all fields. Google, Amazon, Apple, Microsoft, and Facebook are the biggest tech companies that have professional data scientists working for them. Here are some of the top careers you can lead in data science:
Right from healthcare to aviation, every industry relies on Data so ofcourse, the need for Data scientists needs to be balanced with the supply. The machines under data science are designed in such a way that they can make logical decisions and process colossal information. This enables the machines to perform a task without further supervision or programming. Data science is taking over many industries in different ways. Let us have a look at a few of them:
Agriculture Industry:
Crop Management and Field Conditions Management
Education Industry:
Personalised Learning
Finance Industry:
Portfolio Management and High-Frequency Trading
Healthcare Industry:
Diagnostics and Radiology & Radiotherapy
Transportation Industry:
Crop Management and Field Conditions Management

BANKING INNOVATIONS:

Data science helps in identifying frauds by using location data of the people and their pattern of purchases. These data science models are based on machine learning and AI algorithms that detect frauds, monitor transactions, and record discrepancies.

ENHANCED HEALTH CARE:

The Healthcare sector is also on its way towards data science. It is hard to keep up with the data of patients and generate prescriptions manually daily. With the help of data science, doctors can diagnose the not so easily diagnosed ailments by choosing a specific set of diagnoses. Hospitals that use data science tools have reported fewer accidents and discrepancies in treating patients. These tools provide:

CHATBOTS AND PERSONALISED DIGITAL ASSISTANTS:

Digital personal assistants and chatbots are getting smarter with time and are like house helps. To make chatbots and personal assistants better at speech recognition and understanding easy to complicated day to day tasks, companies like Google and Amazon are investing billions.
Learn Data Science with SRM University AP and LEARNXT:
Considering the constraint of Data Science, SRM in collaboration with LEARNXT, is offering various Data Science courses. This collaboration is offering MBA (Data Science), Specialisations in Business Analytics and Machine Learning & Artificial Intelligence, MSc (Applied Data Science), PG Diploma in Applied Data Science, and PG Diploma in Machine Learning and Artificial Intelligence courses. SRM and LEARNXT aim at shaping people’s future and help them achieve their dreams via experiential learning and real life-like projects. These data science programmes by SRM Group will help the students to equip conceptual knowledge, learn the uses of data science based on real life-like business problems.
Stay tuned to LEARNXT to know more about data science.
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