They say Data is the next oil, but what does that even mean? Data is clearly not going to power your car’s engine, or will it? In fact, in the near future data will indeed help run your car, let’s see how.
How does a tesla drive itself? Data science is the only answer. It gathers information from all the different sources like GPS, sensors, cameras, live traffic feed, etc, and processes it at a lightning-fast pace. The car then takes action to drive safely with absolutely no input from a driver. This is the current state of one of the best applications of data science, it is not widely available but neither is it not a far-future concept.
Data Science, an inter-disciplinary field that combines scientific various scientific methods, processes, systems, and algorithms to retrieve useful information from both structured and unstructured data. Some of the most popular forms of data science involve data learning, big data, and data mining. A data scientist looks at the vast amounts of available data and tries to make sense of it.
Big data is a booming field right now especially with COVID-19, accurate figures of any particular statistic are hard to come by since everyone is sitting at home. Big Data solves this problem by analyzing social media, browser data, online forums, online purchases to name a few. There are 3 V’s that are specific to big data, volume, velocity, and variety, they are self-explanatory, data is moving fast in large quantities and it is also extremely diversified. A system that can analyze this accurately is a big game-changer.
There are several systems already in place to analyze big data, the most popular one being Hadoop, but it can be further improved with the help of AI tools and practices like machine learning. Image recognition is one of the most important aspects of this and several applications have already arisen as an offshoot of this. Many of you might have seen Deep Fakes, where an AI can accurately mimic a public personality based on the wealth of data from past public appearance, it’s so accurate that it’s hard to tell the difference between the real and the fake.
Data Analytics has been the driving force behind a lot of innovations in the past couple of years and its importance will only keep growing. Data is indeed the “oil” of this generation.
