The Science Behind Big data Analytics
In this particular guest feature, Eric Haller of Experian's international DataLabs offers his views on the growing need for info scientists. Eric is the executive vice-president of Experian's worldwide DataLabs. He leads information labs in america, UK & Brazil that support research & development initiatives throughout the Experian business. For Consumer Information Services, Eric had responsibility for the direction and growth of online credit profiles in addition to strategic markets such as retail banking, government, capital markets and net delivery prior to Experian DataLabs.
Daily, the level of info that can be found to solve some of the most vexing issues of society grows exponentially. By 2020, the total amount of data in the digital universe will grow ten fold.
But for all its possible, info alone won't change the way inventions are distributed by us, administer health care, run business or run in the global market. Data in its raw form is just untapped potential.
Big Data only becomes really powerful when it's compiled, sorted, analyzed and controlled - when it is translated to the language of policymakers and business leaders. And therefore the explosion of information has driven the emergence of fields built for the sole purpose of making data useable.
Today, we find whole subjects and areas of company which have been produced of the need to glean insights from vast quantities of, otherwise, info that is indecipherable. In particular, a new profession of Data Scientists has emerged to meet this growing demand - to bring structure to large quantities of info that was formless.
The job remains in its relative infancy - the term "Data Scientist" was initially coined in 2008 by the leaders of information analytics at LinkedIn and Facebook - but even so, in seven short years the sector has burst.
In 2012, Harvard Business Review named the position, "the hottest occupation of the 21st century." It was the hottest profession of Mashable, this year. No work experience regularly come from graduate school and receive six figure salaries, although with acknowledgments like that it will come as no real surprise that pupils with Masters degrees of PhDs. Experienced data scientists are generally paid similarly to senior business executives.
Those salaries are not without warrant. Data science is currently an essential business tool. According to recent research from Accenture, 87 percent of firms agree. They consider that within 36 months, data analytics that are big will redefine their respective industries and so are spending on it, consequently.
Not just that, there's shortage of qualified scientists to fill this growing demand. Companies are finding themselves expanding the hunt for ability to applied mathematics, engineering and physics majors, but that requires considerable testing and screening to make sure they can adapt to the demanding demands of the information science subject.
But why just does a Data Scientist need these skills? What exactly does a Data Scientist do? And what sets this profession besides the more established mathematicians and statisticians?
The big difference is an Information Scientists' ability to think like a businessperson - they parse through vast and varied banks of information, but relay findings certainly to decision makers. As the sector defines it, info scientists have "the ability to convey findings to company and IT leaders in a way that may affect how organizations approach business challenges."
Another big difference is the amount of highly technical and quantitative abilities needed to become successful. There is the highest requirement for information management, open source analytics and machine learning abilities, Python and Java development skills.
In this particular guest feature, Eric Haller of Experian's international DataLabs offers his views on the growing need for info scientists. Eric is the executive vice-president of Experian's worldwide DataLabs. He leads information labs in america, UK & Brazil that support research & development initiatives throughout the Experian business. For Consumer Information Services, Eric had responsibility for the direction and growth of online credit profiles in addition to strategic markets such as retail banking, government, capital markets and net delivery prior to Experian DataLabs.
Daily, the level of info that can be found to solve some of the most vexing issues of society grows exponentially. By 2020, the total amount of data in the digital universe will grow ten fold.
But for all its possible, info alone won't change the way inventions are distributed by us, administer health care, run business or run in the global market. Data in its raw form is just untapped potential.
The Science Behind Big data Analytics
Big Data only becomes really powerful when it's compiled, sorted, analyzed and controlled - when it is translated to the language of policymakers and business leaders. And therefore the explosion of information has driven the emergence of fields built for the sole purpose of making data useable.Today, we find whole subjects and areas of company which have been produced of the need to glean insights from vast quantities of, otherwise, info that is indecipherable. In particular, a new profession of Data Scientists has emerged to meet this growing demand - to bring structure to large quantities of info that was formless.
The job remains in its relative infancy - the term "Data Scientist" was initially coined in 2008 by the leaders of information analytics at LinkedIn and Facebook - but even so, in seven short years the sector has burst.
In 2012, Harvard Business Review named the position, "the hottest occupation of the 21st century." It was the hottest profession of Mashable, this year. No work experience regularly come from graduate school and receive six figure salaries, although with acknowledgments like that it will come as no real surprise that pupils with Masters degrees of PhDs. Experienced data scientists are generally paid similarly to senior business executives.
Those salaries are not without warrant. Data science is currently an essential business tool. According to recent research from Accenture, 87 percent of firms agree. They consider that within 36 months, data analytics that are big will redefine their respective industries and so are spending on it, consequently.
Not just that, there's shortage of qualified scientists to fill this growing demand. Companies are finding themselves expanding the hunt for ability to applied mathematics, engineering and physics majors, but that requires considerable testing and screening to make sure they can adapt to the demanding demands of the information science subject.
But why just does a Data Scientist need these skills? What exactly does a Data Scientist do? And what sets this profession besides the more established mathematicians and statisticians?
The big difference is an Information Scientists' ability to think like a businessperson - they parse through vast and varied banks of information, but relay findings certainly to decision makers. As the sector defines it, info scientists have "the ability to convey findings to company and IT leaders in a way that may affect how organizations approach business challenges."
Another big difference is the amount of highly technical and quantitative abilities needed to become successful. There is the highest requirement for information management, open source analytics and machine learning abilities, Python and Java development skills.
