How data science will impact the future of industries?
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How often have you heard the term ‘data science’? Attend a tech conference, watch any leading corporation’s Chairman or MD at an annual meeting, or simply indulge in a discussion with your manager, and you will realize how much this term is in prevalence.
However, you may also realize that a lot of people merely throw terms like machine learning, AI, data science and the likes around to sound trendy, without really understanding the origins and future of the same.
Currently, the extensive use of data science is being limited to a few fields, but over the next few years, it will start powering applications in diverse industries like manufacturing, automobile, education, financial services, and even sports. Here are three key dimensions in which data science will show its significant impact –
One to one marketing
Amazon, Target Retail, and Walmart are already working on customer analytics solutions that are aimed at one to one marketing. Today, data science has evolved to such a level where homogenous cohorts are shown similar messages. With the use of big data analytics techniques, brands will be able to show an individualized message to every customer, based on their preference. One to one marketing will become a reality.
AI will be able to do everything
We’ve already seen AI’s applications in the field of robotics and automation to a certain degree. But data science will evolve to such a level that by just implementing a few thousand lines of codes, professionals will be able to program robots that will not only clean your homes but also run your businesses.
If you saw Google’s latest keynote speech, you would have seen Google Assistant making phone calls and reservations in restaurants. In a few years, such automated assistants will be at the other end too, making food at those very restaurants where your robot is booking tables for you.
The smart world and smarter citizens
Big data scientists are envisioning a world where every device will be interconnected, right from your mobile phone to your geyser to your coffee maker. Your alarm clock will wake you up, and depending upon the time you hit the shower, it will send a message to your coffee machine that will keep the coffee ready for you at the optimum temperature.
Coming to data scientists, big data analytics tools are expected to become so fast that they will start enabling real-time decision making. Today, many functions such as weather, medical conditions, and space missions that are being predicted with 70% or 80% accuracy will be predicted with much higher accuracy, with some even as much as 99%.
Given the kind of possibilities and the bright future of this field, many are delving towards the same. Big data analytic courses, courses on machine learning techniques, are getting popular among engineers and data scientists. And while many jobs are expected to be lost to robots, the job of a data scientist will be safe because it will have the power to create algorithms needed to control AI.
This article was first to get published on Manipal ProLearn