Data science, data analytics, analytics“Data science” is often used to define a (new) profession whose practitioners are capable in many or all the above areas; one often sees the term “data scientist” in job postings. While “statistician” typically implies familiarity with research methods and the collection of data for studies, “data scientist” implies the ability to work with large volumes of data generated not by studies, but by ongoing organizational processes. Due to the complexity of dealing with large datasets and data flows, most of the day-to-day work of a data scientist lies in data pipeline challenges – storing relevant data, getting it into appropriate form for analysis, and managing the real-time implementation of models. “Data analytics” and “analytics,” by contrast, are general terms used to describe the field and a comprehensive collection of associated methods. All these terms tend to be used for the application of analytic methods to data that large organziations generate or have available (“big data”).
Explore Data & Analytics Statistics
- By 2025, 60% of the 163 zettabytes of existing data will be created and managed by enterprise organizations.
- In a survey of approximately 700 business professionals, only 15% said their organization is currently very effective in delivering a relevant and reliable customer experience. In the same survey, only 3% of respondents said they are able to act on all of the customer data they collect; 21% say they can act on very little of it.
- 61 percent of businesses that recognize the effect of data and analytics on their core business practices say their companies either have not responded to these changes or have taken only ad hoc actions rather than developing a comprehensive, long-term strategy for analytics.
- 30 percent of businesses consider the Spark software framework critical to their big data analytics strategies.
- Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
- Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, they are predicted to take $1.8 trillion annually from their less-informed peers.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.
- By 2025, the amount of the global datasphere subject to data analysis will grow by a factor of 50 to 5.2 zettabytes.
- 55 percent of North American businesses have adopted big data analytics.
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