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Applications of Data Science

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Moore’s law has proved accurate for the last 50 years; however, many argue that it will not be applicable in future, as we may not be able to compress the number of transistors inside a microprocessor at the same rate in an economical way.

In the last decade, the commoditisation of storage and computation has led to significant reductions in costs. Further, advancements in cloud computing have made it easier to store large amounts of data and provide access to advanced computational power at a relatively low cost.

All of these factors have led to the rise in the use of data science in organisations. Technology companies, such as Google, Facebook, LinkedIn, Amazon, Microsoft, UBER and Netflix, are at the forefront of using data science. Most organisations today use data to derive information in some form and have different levels of analytics and data science maturity.

Additional Resources

Best jobs in America. (2020). Retrieved from https://www.glassdoor.com/List/Best-Jobs-in-America-LST_KQ0,20.htm

Donoho, D. (2015). 50 years of data science. Journal of Computational and Graphical Statistics, 26(4), 745–766.

Data scientist: The sexiest job of the 21st century. (2020). Retrieved from https://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century

Davenport, T. H. & Patil, D.J. (2020, October). How to take on the data science career path right after college? Retrieved from https://www.datasciencesociety.net/data-science-career-path-after-college

Patrizio, A. (2020, 3 December). IDC: Expect 175 zettabytes of data worldwide by 2025. Retrieved from https://www.networkworld.com/article/3325397/idc-expect-175-zettabytes-of-data-worldwide-by-2025.html

Schwab, K. (2017). The fourth industrial revolutionUK: Penguin

Data is the new oil? No, data is the new soil.
David McCandless
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