If it can be measured, it can be recorded, tracked, logged, sorted, analyzed, fed into machine learning and more. In today’s world, more data is tracked than we can possibly imagine. The good news is, we’ve reached the point we can translate all that information into meaningful insights. By understanding the emerging data science future trends, we can learn so much about ourselves and the world around us.
How does that work? Data sets allow us to look into the past and understand important events and their impact. At the same time, identifying data science trends allows us to understand where things are headed. We can prepare for the future instead of simply reacting to the present. Knowing data science can help to predict future trends, it’s no wonder data scientists are in high demand.
This data revolution means every business is a data driven business, making data scientists a must-have employee in every field. By unleashing the power of metrics and data analysis, athletes can perform better, virtual ecosystems are healthier, social media is safer and scientists have new tools for research and development. This skillset is a benefit to every company in every sector that understands the value of keeping up with data science trends.
As the necessity to learn data has grown, the necessity for a master’s degree in data science has also increased. At Stevens Institute of Technology, our Master’s of Science in Data Science program places an emphasis on understanding foundational mathematical principles as well as technical proficiency in industry software. To put it simply, a master’s degree puts career growth and professional success within reach.
Having this dual understanding is what makes the difference between being a data analyst and a data scientist. People can learn software, but the output is only as strong as the person using it. Mastering the math and science behind the results makes a powerful difference in how data is used. Our master’s program nurtures the very skills that make that possible.
The educational importance of a master’s becomes more clear when we look at the top data science trends for 2023. It goes beyond just understanding the numbers. It’s having the tool kit to be ahead of the curve. When you can do that, you can translate results in ways that are actionable. Emerging trends that have proven to be important in the data science industry are:
Artificial Intelligence
From sci-fi movie plot points to pop culture buzzwords, artificial intelligence is something everyone is familiar with. But data scientists are part of the push to transform it from fiction to reality.
So what is it? Artificial intelligence, a field that is experiencing significant advancements with data science trends, is the pursuit of making a computer mimic the human brain. Natural language processing falls into this category. You’re probably more familiar with AI models than you may realize—ChatGPT is an example that’s truly having its moment in the spotlight.
Machine Learning
Machine learning is a subset of artificial intelligence. They’re commonly used interchangeably, but they are the pursuits of very different goals. Machine learning focuses on examining data, gaining insights and then implementing improvements based on the results. The process is iterative, allowing data scientists to push the limits of what our technology and equipment can do and stay updated with the latest data science trends.
Machine learning has the latitude to make discoveries with the goal of exceeding what we can hardcode ourselves. It can be used for a range of purposes including image recognition, identifying financial trends and aiding in medical care. Even if it’s used for something that may seem mundane, it is still remarkable and powerful. Machine learning can clean and prepare data—making more time for analysis by eliminating repetitive tasks.
Accessibility Through Cloud Computing and Storage
More and more services are offering storage and processing solutions through cloud-based applications and data centers. This data science trend allows companies to take advantage of data science without needing to invest in expensive, technology-based infrastructure. This makes data-driven success more accessible than ever—and increases the demand for those with analytics skills.
Companies that were once locked out due to financial reasons can now tap into the power of data processing. An even playing field can change entire industries by empowering companies of all sizes. When the use of data is equitable, everyone has a fair shot at achieving their dreams.
Batch Processing vs. Stream Processing
Both of these processes are crucial in the context of data science trends. Batch processing is analyzing a large set of data, usually when the results are not urgent. Stream processing, however, focuses on processing data in real time, which is critical for organizations that have to react quickly. The drawback is the intensity of the analysis can be quite resource heavy.
Understanding the time and place for each can drive impact at any organization. How data is stored, what online resources are needed, how urgent the tasks are and what can be analyzed locally are all important factors in determining which route to take. With more storage and processing becoming decentralized, knowing how to manage the data is critical in keeping operations running smoothly.
Consumer Experiences
Taking results and applying them to the consumer journey is an important step in turning numbers into profit. This means in-store and online consumer experiences are benefitting from data science. In fact, you are benefiting from this as a consumer yourself.
One exciting aspect of this data science trend is how the insights are being applied on a granular level. Data doesn’t just have to be about big, sweeping revelations. Using personal data to improve a customer’s experience has as much, if not more, of an impact as larger insights.
Tech Optimization
As our world becomes more connected, our tech has to perform more efficiently to keep pace with innovation. Data science gives context to help make improvements to things like internet bandwidth, smart appliances, data transmission speeds and more. Technology has become fully integrated into our lives. To keep up with the pace of innovation, it requires research to design systems that are optimally efficient and effective.
Data Visualization
Making sense of the data is only one part of the job. Helping decision makers understand what it means is a whole different skill. A part of the job that’s frequently overlooked is the fact most people aren’t data literate. And that’s okay. A great data scientist acts as a translator, framing results and insights in a way that everyone can understand their impact.
Data science trends have led to innovations in how data is visualized enabling data scientists to present results that are digestible and easy to follow. Translating findings in a way that can be understood is the difference between simply leading a horse to water and changing the course of a company.
Real Time Data Analytics
The rate of innovation is only accelerating. This means taking action sooner than later is critical. Being able to analyze data in real time allows companies to react faster. Spotting issues as they arise, or even being able to predict them, helps mitigate risks and strengthens the customer experience.
Laws and Governance
There’s a lot that goes into collecting data and keeping it safe. As data becomes more integral to our life, the rules around are changing. People’s rights to privacy, how the data is analyzed and more will all be affected as new laws are enacted. It’s not just about gaining insights from data and keeping up with data science trends, it’s doing it responsibly and within regulation.
These trends highlight the reason Stevens’ MSDS curriculum is always evolving. Machine learning, big data, web analytics and cognitive computing are all topics covered in the coursework. Understanding data science is increasingly important in business today. As an institute of higher learning, we know the importance of graduating with the necessary skills to thrive in the field of data science.
When it comes to unlocking opportunities, Stevens knows a degree is one part of the equation. Our program prides itself on the strength of our professional network, who stay conversant with data science trends. From professors to alumni to your fellow students, we help forge connections that understand the importance of your skills.
In the field of data science, it’s all about what you know AND who you know. Upon graduation, we aim to prepare you with both. And it’s not just talk—our alumni have gone on to work at companies like Amazon, Bank of America and Disney Streaming Services.
Seeing the field change and grow excites us. Tapping into data science trends to best suit our graduates is something we are passionate about. Just like how data science takes aim at the future, that’s our approach to your education as well.