Data science is a hot topic in the world of business, but many MBA students are perplexed about how much data science capabilities and skills they need in order to get hired. Business like Cane Bay Company in the U.S. Virgin Islands want prospects to know why data should matter to Millennials and Gen Z-ers.
It’s been more than eight years since Facebook’s first data scientist told a Bloomberg reporter that “the best minds of my generation are thinking about how to make people click ads.”
Forbes Magazine reports that in 2016, a high school student created a startup that uses data science to identify dangerous breast tumors using mobile devices. Their amazing work has shown the power of technology and what it can do for us. The potentials are endless.
What is Data Science?
Simply put, – Data science is the study of data. The concept of data science is a more recent development in the world of business. Most people believe the idea of data science only started around the mid-2000s, but it goes much further back than that.
In terms of business, data science is the ability to extract meaning from and figure out ways to use data to impact decisions. Part of this is knowing that data can be limited, but we need to know how to use it to our advantage. Data scientists try to understand the true meaning of what they’re looking at.
What is Data Science Good For?
Data science is the art and science of integrating data with software, analytics, and automation to help clients make better decisions. As an organization, business users don’t typically have access to all the data they need, so the data scientists do analysis, visualization, and predictive modeling to help get that data to the right people and devices.
One of the main reasons the business world is looking for qualified data science majors entering the workplace is the need to make informed decisions based on analytical skills. “These days,” says Cane Bay Company sales manager Alex Frazier, ‘everyone is looking for the bottom line. Do your data analysis correctly, and you can save money and make your customers happier. Can you also predict the bottom line? In our world, you can do both!”
Why is Data Science Essential for your Career?
Though the field of data science is ever-changing, mastering its fundamentals will provide you with a solid foundation that you can build on in specialties such as artificial intelligence, deep learning, etc.
Millennials and Gen Z-ers should be aware that data science is an essential skill set for many industries around the world. Banking, retail, government, and a world of other fields depend on a data science team to gather the data needed to make better decisions.”
The operative word is “team.” Data Science is a team sport, comprised of data engineers, data scientists and business stakeholders. Together, they’re changing the way we do everything!
Employers aren’t new to using data and data science to find out how well a candidate works for them. What’s new is that there are companies such as Cane Bay in the U.S. Virgin Islands that want to use data science to find new, creative ways to get to know their future employees and come up with new ways to hire based on the behavior of those employees.
Big data and Millennials are intersecting in a big way. Millennials play a huge role in what marketing technologies become available. They’re innovating and expanding technologies at an unprecedented rate.