Data science is a response to the difficulties of working with big data and other data analysis challenges we collectively face today. We examined this briefly in the introduction, but that was just scratching the surface. In fact, there is so much literature on big data that this whole chapter will still not be able to do it justice. It will, however, give you a good idea of its importance in today’s world. Furthermore, it will help you understand what all the hype is about big data (a hype that has increased significantly over the past year), and why data science is so important.
Big data is a fundamental asset for today’s businesses, and it is not a coincidence that the majority of businesses today are using, or are in the process of adopting, the corresponding technology. Despite all the hype about it in various media, this is not a fad. There are specific advantages to using this asset, and the fact that it is growing more abundant is an indication that it is imperative to do something about it, and do it fast! Perhaps it is not useful for certain industries right now as big data tends to be quite chaotic or even non-existent for them. Those who do have it and make intelligent use of it, though, reap its benefits and stand a good chance of being more successful in today’s competitive economic ecosystems.