“2.5 quintillion bytes of data are produced by humans every day. 463 exabytes of data will be generated each day by humans as of 2025.”
Currently, we are living with so much data in our hands that it is influencing our daily life choices. Not only that, experts are processing this data at every level of society to form an opinion as well as help in decision-making. To make that a hassle-free practice of digging through tons of data, the experts processed the data in a sophisticated manner. With that being done, the data science field came into existence. Now, what is data science? In simple words, it is the study of data. Nowadays, we have data scientists, to help us sort through all the data and provide a sifted form of it. Be it for any specific requirement, data scientists are in high demand. Nevertheless, the data is only multiplying and we need experts to sort them through.
With so much data in hand to process, these data scientists have come up with technologies to make it humanly possible. That is how the data science field became what it is today.
What is Data Science?
Data Science enables individuals to view their raw data as meaningful information, and predict future patterns and behaviors. The Data scientists are expected to have expertise in data engineering, mathematics, statistics, advanced computing, and visualizations. They require technical expertise in order to be able to sift through all the data and form a comprehensive conclusion. It is going to result in driving innovations in all the industries and has been termed as the fourth industrial revolution.
Now let’s dig into how data science works? To state it in layman’s terms, data science is dependent upon artificial intelligence, machine learning, and deep learning. It helps them in creating models and predictions through algorithms and techniques.
Data science has a five-step process that consists of:
- Collection: Data acquisition, data entry, signal reception, data extraction from relevant sources.
- Scrubbing: Data warehousing, data cleansing, data staging, data processing, data architecture.
- Processing: Data mining, clustering/classification, data modeling, data summarization.
- Communication: Data reporting, data visualization, business intelligence, decision making.
- Analysis: Exploratory/confirmatory, predictive analysis, regression, text mining, qualitative analysis.
Data Science For Policy Making
Data sciences are revolutionizing industries with their efficient data handling procedures. And in the public sector, the volunteers and civil servants are using their resources and investing in data science solutions. It will enable them to derive conclusions regarding the masses in order to bring certain policies to life that the majority are consenting for. Moreover, if this practice is carried on with seriousness and the governments invest in a sophisticated solution to help them form policies, the democratic state can be established in its true sense. With the growing data, opinions and perceptions are growing and differing which is why it is essential in a democratic state to account for every individual’s opinion and give preference to the majority house.
In policy design, data provides an opportunity for a better policy-making process and encourage adequate, and effectively efficient public policies. Therefore, policymakers and policy advocates often tend to provide data-based arguments for particular policy solutions, usually gained through sound empirical research or analysis on that topic.
Data Science For Boosting Economy
With proper administration, utilizing proper data solutions, the institutions tend to move towards progress. And once we are organizing the core operation at all levels, they make sure to deliver effective results. For which every business, must utilize the data they obtain through their operations to optimize and maximize their output. Once the businesses are working on their full potential with the help of data analytics, they are contributing to the economy and creating an efficient environment for the entire economy to flourish.
To learn more about the benefits of data science and how it can add value to your business, click here.
Data Science For More Jobs
The best thing about Data science is that it is applicable throughout various industries that generate data. Opportunities for careers in Data Sciences are growing all across different fields. There are various institutes offering data science courses as the growing demand for data scientists, data engineers, and data analysts is increasing. That is why data scientists are only growing in number as the data grows through.
That explains why every business is hiring data scientists, data engineers, and data analysts to help them keep up with their data maneuvers. Since this field has more room to grow, it is going to provide employment opportunities to a lot of people. With a better employment rate and optimized business operations, every society is going to flourish, either today or 20 years later. Therefore, it is safe to say that data science has the potential to secure a democratic state.
We, at Reactive Space, offer various data science solutions absolutely customized as per the client’s requirements. However, we have expertise in several aspects of handling data. Such as data visualization, big data analytics, social media analytics, and deep learning, etc.
Data is the most valuable asset for every business today, it is as important as a physical asset for a company. And if public authorities realize the utilization power of data, they can ensure effective policy-making processes. Through proper data science solutions deployed in public offices, the results can ensure a solid output for a democratic state by satisfying the majority and dealing with the minority as required. Thus, exhuming the true essence of democracy and displaying data science as the holy grail for a democratic state.