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What College Grads need to know about Data Science

Analytics is one of the fastest growing fields, which makes it open for freshers more than anyone else right now.

Here are some of the latest trends and predictions about the field which are a must read.

The big data and analytics market will reach $125 billion worldwide in 2015, according to IDC. Both IDC and The International Institute of Analytics (IIA) discussed their big data and analytics predictions for 2015

Buying and selling data will become the new business bread and butter. 70% of large organizations are already purchasing external data and 100% will do so by 2019. Simultaneously, more organizations will begin to monetize their data by selling them or providing value added content. (IDC)

Internet of Things will be hot with a five year compounded annual growth rate of 30%. It will be the next critical focus for data services.(IDC)

Security will become the killer app for big data analytics: Big data analytics tools will be the first line of defense, combining machine learning, text mining and ontology modeling to provide holistic and integrated security threat prediction, detection, and deterrence and prevention programs. (IIA)

In 2015, companies will begin considering how to augment knowledge work jobs rather than automating them- moving from artificial intelligence to intelligence augmentation. Analytics, machine learning and cognitive computing will increasingly take over the jobs of knowledge workers. (IIA)

(IDC &IIA for Forbes, 2014)