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Important Data Science Facts To Know about in 2023

24 Nov 2022
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Introduction

Data Science is one of the most prominent and emerging tech industries and has many career opportunities. Data scientists constantly study and grow in their field while using numbers and information to make real-world judgments and communicate business requirements.

We anticipate that data science and its applications will expand as big data grows even more prominent in the upcoming years. For example, Most of us own a smartphone, eight out of ten adults own a laptop or desktop computer, half own a tablet, and one in every five readers owns an e-reader device. Furthermore, 78% of healthcare customers use wearable devices to monitor their lifestyles and vital signs.

The increased number of mobile users, rising internet penetration, and the availability of different eCommerce apps at one's fingertips generate massive amounts of data every day. In Data science we collect, processes, model, and analyses data to acquire a better understanding of it. Businesses use data science to boost profitability, make better decisions, and grow. Because data science is essential in most organizations, let's look at the top data science facts to establish its significance and usefulness.

    According to the Digital 2022 Global Overview Report, 6.58 is the average time people spend on the internet across all devices

    And if we consider all of the data that is now available globally, over 70% of it is user-generated. User-generated material includes all forms of content, including photographs, videos, reels, text, and audio. UGC is user-generated content that can be found online or on social media, such as blogs, forums, websites, and online reviews. These data science statistics facts provide a clear picture of how much data is generated globally and how unprepared we are to handle it.

    • The Global datasphere has around 90% replicated and 10% unique data. According to a recent article published on CIO, between 80 and 90% of data in the global digital realm is unstructured.
    • To download most of the data from the internet now, a user would need 181 million years.
    • In Every second of 2020, almost two professionals joined LinkedIn every second.
    • According to Domo, in 2020, every person on the planet created nearly 2.5 quintillion bytes of data every day.
    • According to the exact DOMO estimate, in 2020, each person created approximately 1.7 MB of data each second.

    Also, according to CrowdFlower's Data Scientist Report, text data accounts for 91% of all data used in data science. In addition to text, unstructured data includes 33% photos, 11% audio, 15% video, and 20% other sorts of data, according to the same survey

      Factors Affecting The Overall Growth Of Data Science

      Numerous factors affect Data Science, and every major and minor firm in the world relies on data to manage its operations. Let us look at some basic facts to help us understand:

      • According to the BCG-WEF project report, 72 percent of manufacturing businesses use sophisticated data analytics to boost productivity.
      • The market for big data analytics in the field of healthcare might be around worth $67.82 billion by 2025.
      • According to Statista's Research Department, around 68% of international travel brands made notable investments in BI and predictive analytics capabilities in 2019.
      • Market of big data analytics is all set to reach around $103 billion by 2023.
      • Around 1400 schools and universities worldwide use predictive analytics to improve the overall rate of low graduation rates, reinvent the college experience, and guide students down a clear, data-driven path to graduation with fewer dead ends.
      • Managing unstructured data is an issue for 95% of organizations in their organizations.
      • According to 47% of McKinsey survey respondents, data analytics has changed the competition in their industry, and data science has helped businesses gain a competitive advantage.
      • WhatsApp message exchanges can reach 65 billion per day.
      • Because of big data, Netflix saves around $1 billion yearly on subscriber retention.

      Data Science Statistics Related Facts

      Considering some of the most critical data science statistics facts to get a better idea about the field and what the future looks like in it. Here are some Data Science Statistics facts given below:

      • By 2023, 66% of the world's population will be on the internet.
      • According to data science statistics from Statista, there will be more than 75 billion IoT devices in use by the end of 2025. According to the forecast, there will be nearly three times the number of IoT devices in 2020 as there were in 2019.
      • Data scientists can expect to earn a range which lies between $65k and $153k per year, making them the ideal next job.
      • By 2023, there will be three times as many connected devices as people on earth.
      • By 2023, each person will have 1.6 networked mobile devices and connections.
      • One hundred forty-nine zettabytes of data will have been copied, collected, and organized by 2024. That is tremendous in comparison to the two zettabytes we created in 2010.
      • The market for data science platforms is expected to be worth 322.9 USD billion in 2026.

      Data Science Programming Related Facts

      Emerging technology disciplines like Artificial Intelligence, Machine Learning, and Data Science necessitate the use of solid algorithms to execute intelligent models. One must be fluent in programming languages to obtain a thorough knowledge of how algorithms function. To perform data science tasks, a variety of programming languages are available. The following are the most used programming language used by data scientist:

      • According to research provided by software vendor Anaconda, 75% of data scientists utilize the open-source Python programming language for data science-related work on a regular or frequent basis. Python currently rules the data science scene, and this is projected to continue in 2021.
      • Also, According to Kaggle, a subsidiary of Google LLC, 36% of data scientists choose the R programming language for data science work.
      • JavaScript is used by 15% of data scientists, Java is used by 10%, C/C++ is used by 9%, and C# is used by 4%.

      Conclusion

      The Facts covered in this blog talk about the importance of data in the current situation and in the future, which will gradually increase the number of jobs for data scientists, data analysts, data engineers, etc.
      All these facts and trends clearly affect any business cycle as Data Scientist plays a vital role in the field related to data mining, data cleaning, data visualization, and data exploration.

      About the Author

       fingertips Fingertips

      Fingertips is one of India's leading learning platforms, enabling aspirants - working professionals, and students to enhance competitive skills and thrive in their careers. We offer intensive training in areas such as Digital Marketing, Data Science, Business Intelligence, Artificial intelligence, and Machine Learning, among others.

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