Leveraging data science to build a secure future
We have witnessed a unique phenomenon over the past few years. The world of technology was abuzz with the term ‘data’. Advancement in technology has led to a phenomenal increase in the use of digital technology worldwide and our capacity to create, share and use data has reached to several petabytes. Data driven technologies like AI, machine learning and deep learning has impact on almost every field and data science has evolved as the key player having application in almost everything.
Data Science as the key player-
Thanks to the system of Internet of Things, our ability to generate and capture data goes on increasing at an exponential rate. However, raw data is worthless unless it is ‘made to speak’. With the data science techniques massive volume of data can be analytically explored and important insights can be extracted.
Let’s look at some of the amazing real life applications of data science:
• Ginger an institution in mental healthcare has been able to use data science to improve the overall patient care system. They use data from user devices such as mobiles to get information about the health of the users in real time. The behavioral analytics engine developed by them can accurately analyze patient data to discover important insights and in an absolute secure manner.
• Ferratum Bank reduced the risk of running into bad debts by implementing a system of credit scoring based on data science technique- machine learning. Not only were they able to get rid of frauds but also could increase the overall satisfaction of customers thereby increasing the customer base.
• Google, amazon, Apple and a number of other companies have already developed speech and image recognition systems with the help of data science. Virtual assistants are no longer a distant dream as today almost all the smart devices are capable of enhancing the customer performance with the help of data science.
Hoping to make a career in data science?
This is perhaps the best time to decide on a career in data science. The world is suffering from a lack of talents, especially in booming digital economies like Malaysia which requires almost 20K data professionals by 2020. This is why it is comparatively easy to find a job as a data scientist in Malaysia. Becoming a data scientist in Malaysia can fetch close to RM 96K per year.