The field of data science is coming, if it isn’t already here. I ran across this article by Marshall Kirkpatrick at ReadWriteWeb.com, which included the figure you see on the left. The article talks about the explosion of jobs for “big data” in the marketplace, and the figure indicates the exponential growth in this area over that past five years.
Here’s a quote from the post that highlights what’s happening:
“Right now, everybody with data knows that there’s value in there, that they should be doing something” – Edd Dumbil from Strata
Here’s another post titled “Data Scientist: The Hottest Job You Haven’t Heard Of“, pointing out how data scientists are “the professionals responsible for filtering out the noise and analyzing essential information.” The post describes some of the benefits that companies see in data science as “competitive intelligence”. According to the article, a May 2011 study by McKinsey Global Institute suggest that retailers could increase operating margins by 60 percent and the health care industry could reduce annual costs by 8 percent or $200 billion, just by leveraging the data they have. That’s a big impact for using big data.
I’ve been in the “big data” space for decades, because we’ve always more data that can fit into Excel spreadsheets or databases, and we’ve developed and matured amazing technologies as a result. There will be an increasing need for more discipline in the data science and analytics engineering space in the coming decades. Looking forward to it!
Get My Newest Articles In Your Inbox
Subscribe to get my latest articles from Decisions & Discovery by email.