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Data Analytics in its simplest terms can be defined as the transformation of raw and unprocessed data into useful data. The main stages in data analytics include sampling, modelling, transformation and visualization.
Overview
As the age of data continues to herald a new dawn in 21st century, data science continues to grow as a new field of study. Data science encompasses the domains of data analytics, machine learning, artificial intelligence, visualization, cloud computing systems and all other domains which are related to data for data collecting the right tools of the trade are often required. to harness the visual power of data do so with a Trading Computer in one or another way.
It would not be wrong to mention that what mathematics did to science in 17th century, that data is doing to technology in 21st century. In one word, data analytics can be called as the new mathematics of 21st century.
The great game of numbers.
Here are some of the most interesting facts about data collected from different sources.
- Almost 0.56% of all information we are creating is ever processed and used totally.
- An overall 11% increase in data warehousing will result in almost $66 million additional total income for the typical dominant commercial companies.
- United states of America commands the data science market, and it will be requiring 180,000 data scientists in the coming decade.
- Notably, thousands of powerful computers are employed in solving various questions that are posed by users.
- By 2019, we can sketch up an estimate of 51 billion smart and emerging devices which are hereby heralding a new dawn in the internet of things domain.
- By the year 2024, the Data Science and the related sectors in India are estimated to grow by almost 9 times, reaching $14 billion approximately.
- In the preceding decade, an estimated 10 trillion images were uploaded and a certain percentage of them will be released in the subsequent decades creating a mega cloud.
- Nearly 81% of images are processed on mobile phones and maximum of them will become coherent data online and will be ready to mine anytime across the digital market in India.
- Every second 611000 search queries are analysed via smart devices and 1.3 trillion searches are executed accordingly.
- By the year 2021, about 1.3 megabytes of digital data will be created every second given the pace at which technology is progressing.
- Data scientists earn at an average eleven times more than the orthodox IT professionals with same qualification.
- 1 billion pieces of newly created content are shared through technological Graphs every moment.
- Big data or in much simpler terms, raw and unnecessary data costs digital businesses alone $599 billion as per records.
- 71% of the data training modules are employed by smart devices and 81% of that information is processed by databases or data warehouses or in any related form.
Data analytics as a CareerBuilder
To build a career in data, the first question that comes to mind is about the availability of data analytics courses in the country. To put first things first, there is no dearth of data analytics courses in India. There are both online and offline courses which cater to various needs of aspirants. If one is thinking of investing in data science or any other related courses, the investment in the field is just worth it. This is because there are many opportunities and due returns are guaranteed after you become a good data analyst.
Applied Data analytics
The applications of data analytics are just immense. To name a few, education, start-ups, statistics, stock exchange, business management, banking, production, healthcare, genomics, molecular biology, forensic science, cybersecurity, cyberspace etc. are fields where data analytics has first hand applications.
Future prospects
The future prospects for data science are actually very bright. This domain has matured from a juvenile disciple to a full fledged research field in a matter of years. The career prospects are so bright that there is emergence of private players who are providing data analytics courses and that too at a very nominal cost.
While the prospects in India look very much optimistic, the scope of the discipline in countries like USA is immense. This can be envisioned from the fact that data scientists are one of the highest paid professionals in USA.
Conclusion
Ranging from Data lakes to Data warehouses, the world now seems to be a little place to handle the enormous amounts of data emanating worldwide. Perhaps this is the reason why we have established a world on the cloud. But this too has been possible due to advances made in data science in a short span of time. And this is the reason why data analytics has been termed as the new mathematics of 21st century!
