Data Science Industry Outlook
“Your masters of the universe are not the ones wearing suits and going to galas. It’s the folks that are crunching Python.”
Gene Ekster, Hedge Fund Consultant
Data powers everything around us. From the way we shop to the way we communicate to the way we bank, everything is run by data – and the experts who analyze it daily. It’s time to help shape the future.
Big banks are finding that data scientists are powering the decisions behind not only trading, but the banking preferences and experiences of their customers. In creating key purchase influencers like rewards programs, which rely on trillions of points of data to make it to the implementation stage, the value of data analytics is unmatched.
Using a combination of real-time and predictive analytics, telecommunications companies will be able to analyze subscriber behavior and create individual network usage policies, improving efficiencies, maximizing revenue streams, and adding happy customers.
Using a combination of descriptive statistics, exploratory data analysis, and predictive analytics, it becomes relatively easy to identify the most cost-effective treatments for specific ailments and allows for a process to help reduce the number of duplicate or unnecessary treatments.
Sports & Gaming
Real-time object tracking systems are able to collect information like player and ball trajectory, play execution and spatial tracing on a field or court. The challenge is finding data scientists capable of implementing this data in meaningful ways that contribute to team strategy or even predictive betting.
Creating and improving on games, maps and features based on data is the new era of data-driven programming. Video game publishers are combining collected user data and mathematics to devise entirely new methods of game creation.
– MIT Technology Review
The use of satellites, remote sensing, and machine learning is changing data science for both old and new energy operations. Renewable energy costs are dropping, spiking demand for data scientists who can quickly apply useful data analytics to increase production of already booming wind and solar farms.
– CIO, The Wall Street Journal
Retail & Marketing
Personalized, relevant and predictive customer engagement at every touch point in consumers’ purchase journeys requires accurate data curation and integration. Retailers need data scientists who can manage the volumes of data already in play and then turn it into actionable information.
Predictive analytics is influencing creative brand direction like never before to keep companies ahead of competitors. Similar to retail, predictive data that can influence consumers at every stage of their purchase journey is why the marketing industry is heavily investing in data engineers and scientists.
– CIO, Adweek
With the advent of resources like Data.gov, the public sector now has access to the same capabilities that the private sector enjoys. With mountains of data available on Americans and the programs they benefit from, data scientists are being called upon at every level to ensure the best delivery and use of taxpayer dollars.
Traffic management agencies are able to use real-time traffic and weather data to predict traffic flows and manage emergency response. In the shipping world, data science can save billions by optimizing the supply chain and more efficiently organizing the flow of containers around the world, allowing companies to better predict when and where their containers are at any moment.