Prominent Data Science Trends That Will Shape The Future

Data science has offered numerous rewarding career opportunities and business amplification streams worldwide. It is observed that over the decades, data has been increasing at a staggering rate. This shall continue to swell ahead; say international data geniuses. This is where making sense of this vast data pool becomes necessary. The current rate of data generation worldwide sits at a whopping 2.5 quintillion bytes of data per day in 2024; reaching 147 zettabytes by the end of this year (Rivery.com). Isn’t that a massive pool to digest and guide the future of data science?

This growth rate could be attributed to several factors including the emergence of cloud databases, the rise of social media, IoT technologies, the proliferation of connected devices, and digital transformation initiatives, among many others. With this comes the urgent requirement for a skilled workforce that can help organizations worldwide with their sheer skills in gauging the data science trends beforehand. The world of data science has been growing ever since its inception and showcases no trends to slow down. Let us explore the opportunities and hurdles we may face as a globally expanding business communion; that can guide us toward a thriving world equation with the data storm.

Data Science Trends So Far- What Gartner Revealed?

The world so far has been witnessing some of the most revolutionary data science trends that have marked the beginning of a whole new era of data trends ahead. Let us see the reflection of some of the trend-setting events that took place previously (as per Gartner):

Value Optimization
Practical Data Fabric
Emergent AI
Observability
AI Risk Management
Quintessential Data Sharing

These trends have been quite prominent in building the world of data science with strong milestones. It has paved the way for even farther-reaching promising trends that can design the fate of the data science industry worldwide.

Data Science Trends 2024:

Widening IoT networks

The Internet of Things has grown faster than anyone thought. With the advent of 5G technologies, cities, and workspaces are getting smarter and performing immensely in real-time. The amalgamation of 5G with AI edge computing; smart homes, smart healthcare, and smarter cities has come to the fore. IoT-enabled devices are powering every segment of the society and business world.

Easy AI

The global artificial intelligence market has grown tremendously, and become more approachable and has provided enough opportunities to be easily accessible. The rise of no-code and low-code AI platforms has delved deeper into the AI model-building frameworks; yielding more business benefits for the global marketplace. Chatbots, predictive maintenance, and fraud detection are all powered by convenient AI synergies.

Predictive Analytics Surge

Making informed business predictions forms the basis of all development. Used in diverse industries to make predictions using data analysis; it assists in predicting a patient’s probable health condition, spotting fake transactions to stop money from being lost, and many other critical use cases.

Cloud Migration of Dark Data

The Cloud offers benefits like being able to easily expand, save money, and make data easier to analyze and comprehend. Businesses can reveal critical insights from the data, which can help them run faster and smoother. Data mining, business intelligence, big data predictions, and predictive analysis are all fostered by cloud migration in dark data.

Quantum Computing

Targeting and prediction, trading optimization, and risk profiling are powered by quantum computing. Quantum computers work using Qubits; which assist in certain tasks to be done much faster than regular computers. Drug discovery, hyper-optimization, and cryptography are high-end beneficiaries of Quantum Computing.

Stringent CyberSec Norms

Smarter and tougher cybersecurity norms shall guide the way businesses channel their investments into enhanced and sophisticated cybersecurity measures. BCG predicts that cyberattacks will swell by 50% by 2024. With the intensifying implications of cybercrime;

Data Democratization

Data democratization simply targets self-service analytics platforms, data visualization tools, and data governance and collaboration frameworks. These help in understanding data, and using it for decision-making; fostering collaboration across teams.

Data Ethics

Data ethics is all about following the right moral rules when collecting, using, and sharing data. Addressing privacy concerns, algorithmic bias, and facilitating transparency and accountability are key features of data ethics. Data privacy, data governance, and data security are the three real-time applications of data ethics that are sure to guide the data landscape ahead.

Data Governance Trends 2024:

Without data governance, AI remains a huge liability
The need for governance of data and analytics increases
Data democratization to bring bottoms-up change
Compliance Management calls for increased discipline

Data Privacy Trends 2024:

Continued enforcement of privacy regulations
Increased focus on children’s privacy
Rethinking business models to privacy legislation
Growing awareness of privacy rights among consumers
Increased scrutiny of AI’s impact on privacy

Data Breach Trends 2024:

ITGovernance.co.uk confirmed the most breached sector by number of records known to be breached is ‘multiple’ at 26,126,684,692. Verizon’s 2024 Data Breach Investigations Report reveals that 68% of breaches involved a non-malicious human element such as a person falling prey to a social engineering attack or making an error. Numerous such vicious data breach trends are sure to be revealed in 2024 and beyond as cyberspace becomes more volatile.

Data Career Trends 2024:

Microsoft Corp. and LinkedIn released the 2024 Work Trend Index; which reveals-

Use of GenAI at work has nearly doubled in the past six months
Employees want AI at work as it raises the bar with higher productivity
The world of data science will be largely facilitated by AI and certified data science professionals

This is where it all begins! Make your way up the ladder with the most wanted online data science certification programs to guide your career with astounding growth trajectories.