The corporate landscape has forever been altered by the infusion of data science into its domain. Companies can now see the future clearly, and it’s looking very bright, thanks to the cultivation of big data from various sources. Businesses are in a position to analyse industry trends and decode patterns in customer behaviour to make future decisions productively. Whether it’s marketing, pharmaceuticals, finance, auto, retail… there isn’t any industry that can’t benefit from data science. All a company needs is an online presence and a qualified data scientist who can steer it in the right direction.
But how do you become that capable data professional? What are companies looking for when they take out recruitment ads? You need to be ahead of the latest technology. You need to be aware of the current trends and a few upcoming ones as well. To ensure you make a good impression at your interview, you must be well-versed in these six major developments and trends in data science. They are essential skills every professional must know.
Top 6 Data Science Trends
We are well aware of how quickly technology evolves. As a competent data scientist, you need to be on your toes and quick to learn the latest trends and techniques as they emerge. Right now, the following trends in data science have been used by every professional in their line of work.
Data science trend #1: AI and cloud-based databases
Even if you have been living under a rock, you have probably heard of artificial intelligence. It is a fast-developing field in computer science that enables machines to think intelligently like humans. AI and cloud-based databases are able to understand data, decipher patterns and predict future outcomes. It becomes easier for the user to navigate software systems that are AI-enabled. Right now, experts have only scratched the surface of artificial intelligence. As technology becomes more sophisticated, the possibilities for AI will be even more profound. If your future lies in this industry, AI is one of the most relevant data science trends, so make sure you have the qualifications and knowledge to work in this field.
Data science trend #2: Machine learning
If you have watched enough science fiction movies, you already understand a little bit about machine learning. While Hollywood does tend to exaggerate, some points are accurate. Machine learning is an advanced stage of artificial intelligence where the software is able to carry out a set of functions without being programmed to do so. Computers can learn, help or adapt without assistance from the user. As data generation continues to multiply and technology progresses, machine learning is poised to get more intricate and complex. It is one of the most important trends in data science today and a necessary skill you need on your resume.
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Data science trend #3: Blockchain technology
Of the main trends in data science is blockchain. In a nutshell, it allows multiple computers to record various transactions, which can’t be deleted or altered without the consensus of the entire network. The technology was originally created for cryptocurrency, but its application spreads beyond that to include better systems of online payments. With blockchains, you eliminate the need for paper trails and third-party validation. It’s a vital data science trend that opens up numerous business possibilities.
Data science trend #4: Edge computing
Another data science trend rapidly gaining popularity is edge computing. This technology enables you to process data in remote locations instead of sending it to the main network for operations. This saves a considerable amount of work time and enables more efficiency when handling data. You can tackle information in real-time, which means edge computing has a lot of applications in industries like retail, transportation, healthcare and finance.
Data science trend #5: Digital Twin
Digital Twin Technology is considered to be one of the 10 strategic data science trends by many experts in the field. Why is it such a hot topic in the industry? A digital twin is a program that creates simulations or virtual renditions of a physical product using real-life data. It works with artificial intelligence and analytics to help maximise the end result. It helps to launch products that have been thoroughly vetted through stringent standards of testing.
Data science trend #6: Predictive analytics
The rapid growth of predictive analytics is enough proof to qualify the genre as one of the top trends in data science in 2023. Data scientists are about to make predictions by analysing existing and past data. They use a combination of techniques such as data mining, statistical modelling and machine learning to achieve accurate results. It helps companies uncover specific patterns that can lead to lucrative opportunities while eliminating the possibility of risks.
Bonus Trend 1: Data visualisation
Data visualisation is a crucial element when it comes to analysing data. It helps people who are not from the industry to understand critical information. Through the graphical representation of data, experts can explain their findings far more articulately. Complex data is simplified and visually represented to ensure valuable points are not missed or glossed over. It’s no wonder that data visualisation continues to be one of the leading trends in data science.
Bonus Trend 2: ChatGPT
It’s all the internet is talking about. It’s one of the latest and most famous trends in data science — ChatGPT. A subset of artificial intelligence, chatGPT is a language generation tool that creates relevant and articulate content. Data scientists can use this revolutionary AI model to generate text summaries, reviews, dialogue and predictive language modelling. The applications are valid in industries such as banking, e-commerce, retail and many others.
DID YOU KNOW?AI could make over 300 million jobs redundant… but not data science
Every generation sees considerable advances in technology.
That development has a price. Experts predict the rise of AI-based software will see a huge loss in many traditional professions. It is the nature of progress. Some careers expected to disappear are, customer service executives, courier services, translators, salespeople, bookkeepers and receptionists. These jobs will be replaced by automated services in the future.
So which jobs are safe? Some careers that will need human intelligence and reasoning are lawyers, digital marketing professionals, finance analysts, event planners, psychologists, and of course, data scientists. When you are deciding on a future path, you need to ensure that your chosen industry also has a future.
How Proschool course teaches the latest data science trends
IMS Proschool is one of India’s top ten data science institutes for many good reasons. The cutting-edge program offers students an in-depth and detailed syllabus, which contains industry developments and trends in data science. You learn the latest programming languages and tools, sharpen your analytical abilities and become proficient as a data specialist. The course also ensures you learn through real-world case studies and practical applications. The teachers are data experts who have considerable experience in the field. They incorporate hands-on training, personalised mentorship and active learning methods to ensure you become a world-class professional.
- The course is for 7 months and has two semesters.
- Students are taught the latest data science trends and tools, such as neural networks, SQL, statistical methods, Python, Tableau, linear regression, etc.
- You can also access additional learning resources such as mock tests, prep books, videos and practice papers.
- You can still do the course even if you don’t have a coding background.
- You can attend live lectures in a classroom or do the program online.
- Once the course is over, Proschool has a placement portal to help you find a job.
- You will also receive interview grooming and help with resume writing.
In a world where the corporate landscape is rapidly shifting to cyberspace, data is the undisputed king. If you have plans to be a data scientist, you need the qualifications and skills to be a part of this industry. You also need training in the seven data science trends listed above. A comprehensive course from a reputed institution will help you gain considerable strides in your career and help you stay ahead of your peers.
Learn more about the latest data science course here