Why Is Everyone Talking About Data Science

It’s been said over and over again that Data Science is the “sexiest job title of the century.” The explosion of data that can be analyzed has led to high demand for this new role. But some questions have not been answered yet, such as: how can startups benefit from better interaction with data?

When people address a startup’s evolution they usually do it in terms of sales or product engagement indicators. Today companies that consistently obtain growth do so because their decisions are data driven. This is why everyone is talking about data science: when they start to see results, it becomes something organizations of all types need in order to be competitive.

Startups need to remember that there are many fields that apply to Big Data. Some examples are:

  • Health: Medications, procedures, and diagnosis to support medical decisions based on large datasets. Another exciting development is bedside analytics.
  • Retail: helps provide better, more efficient and personalized customer service.
  • Environment: helps understand changes to our planet and the effect that humans have on it.

These are only a sample that illustrate how startups related to these fields can actually make a difference for themselves and their domains.

If you need more precise examples of which startups are making it out there with Big Data, here are some names:

  • Coinbase. It is actually a bitcoin wallet that permits the anyone to use digital currency. Through data exploration, Coinbase now has a tool that can explore Bitcoin transaction history to prevent fraud. Through visualizations and models that show repetitive transaction history, Big Data permited Coinbase to track down bitcoins that were previously stolen.
  • Embedly. It allows publishers to cleanly embed content of any type on any platform. Embedly’s API now has topic-relevant video recommendations achieved by creating an unsupervised clustering algorithm. This was Embedly’s main goal to generate more engagement with customers by offering them pertinent related content.
  • Tableau. This is a data visualization startup changing the way people consume digital media. It’s a favorite tool for journalists experimenting with new ways to use data in their stories. With Tableau, anyone can create beautiful charts and maps, no programming knowledge required. Even media outlets like the Wall Street Journal use it.

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