Today, transactions produce valuable information and acquiring the skills to comprehend that data can give a leg-up to businesses.įive of the world’s biggest tech companies - Microsoft, Amazon, Google, Apple, and Meta- are the biggest employers of data engineers and scientists. Apple used its unique data, infrastructure edge, and product platform to enter the finance domain with Apple Pay. Alphabet, which used its algorithmic advantage to push Google ahead of older search engine competitors, is now using its formidable talent base of data experts to expand into new businesses, such as the development of autonomous vehicles. The value of data and analytics has led to a paradigm shift in the relationship between producers and consumers. Global giants like Amazon and Netflix are also leveraging data to offer a customized experience to their customers. The metaverse shopping experience, where the data entered by individuals shapes their shopping experience, and how data is being channeled by brands to market their products with the help of AI, talks about the vital role data science plays in transforming the metaverse. Starting with Finance and Banking, the sector which first understood the power of data-driven science, industries that leverage data science include Media, Advertising & Marketing, Healthcare, Manufacturing, Retail, and others.įurthermore, it is indispensable in the meta-environment. The application of data science has expanded to various industries. The convergence of several technology trends is promoting the hiring of data science experts.ĭata Science: Relevance Across Industries German universities have impressive industrial connections with the likes of Airbus, Allianz Global Investors, ERGO, etc., which offer students an unparalleled opportunity to acquire advanced skills.Īccording to Statista, a German company specializing in market and consumer data, organizations that have hired 50 data scientists or more have shot up from 30% to 60% between 2020 to 2021. The universities offer myriad specializations in Data Science, including Machine Learning, Artificial Intelligence, Big Data Management, Applied Data Science, Mathematics in Data Science, and others. Students in Germany can pursue data science at both master and bachelor's levels.
Furthermore, according to US News & World Report, the research-intensive curriculum puts the German education system among the top three. The list comprises Technical University of Munich, Humboldt-Universität zu Berlin, Ludwig-Maximilians-Universität München, and Technische Universität Berlin (TU Berlin). SUBMITAs per QS World University Rankings by Subject (Statistics and Operational Research) 2022, four German universities feature among the top 100. Most universities and colleges now offer data science and analytics courses, along with statistics, computer science, and information sciences degrees. A degree in Data Science gives graduates a career edge, whether as a speciality or as a value-add to another major. It is restructuring big data with analytical, technical, and scientific skills. Therefore, it is no surprise that a report by the US Bureau of Labour Statistics shows that data science needs will create roughly 11.5 million job openings by 2026.ĭata Science is an amalgamation of Computational Mathematics, Computer Science, Statistics, and Management. Globally, organizations are focusing on methods to harness and organize data for their strategic goals.ĭata science experts are required across industries, not just in technology. Premium technology and consulting firm, Gartner, predicts that 70% of organizations will focus on small and wide data by 2025. The World Economic Forum’s “The Future of Work Report 2020” estimates that the demand for data scientists will be the highest by 2025, making data science and cloud computing the most in-demand skills.
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