If the role of the data scientist was hot, it just got hotter.
As Data science continues to reign as a powerful differentiator across the industry today, most of the organisations are focused on automating tasks related to data integration and model building with the goal of presenting clear insights.
Data science is rapidly being embraced by organisations of all sizes and types and is driving significant business impact. By investing in infrastructure, people, and processes, organisations are increasingly becoming data-driven and are able to unearth insights like never before. Do you know, on an average, 40,000 search queries are performed every second on Google alone – imagine the amount of data that is being generated!
Big Data, analytics, IoT are no more just the buzzwords ringing in the corporate world. These technologies have revolutionised the way businesses are done today. These are becoming the key driving forces behind the global economy.
Retail Industry is looking at Artificial intelligence (AI) and machine learning (ML) as a solution to take their organisation to the next level of productivity and customer experience. To explain this better, let us look at it this way – retail companies have access to a huge amounts of data about their customers and their shopping preferences. It is difficult for the companies to drill down into these huge mines of useful data and analyse it properly and derive actionable insights in real time. Therefore, massive amounts of this useful information could go waste which would otherwise have helped in increasing sales conversion rates or enhancing the customer satisfaction.
The wave of connectivity had extended beyond the phones, laptops, and tablets and is permeating into our daily lives. With an explosion of connected devices in the market and a healthy adoption rate, we can safely assume that we are taking confident strides into the ‘connected life’ made possible by the IoT.
When it comes to AI and machine learning, we seem to be entering a golden age.
What do successful businesses have in common? One of the most straightforward answers is that they are powered by data. With large amounts of data available at their disposition, they can make informed decisions. Whether your business collects data manually by talking to the customers, or whether you get them virtually via forms, it can be used to pave the way for success in more ways than one.
The amount of digital data generated worldwide is so vast that it is nearing levels that require new naming conventions.
We are living in a data-driven age, and there’s no denying that advanced innovations of Data Analytics, Machine Learning, and Data Science have transformed every industry around the world.