The term "Data is the new Gold" is a term that has been used in the early 2000s and personally as a tech enthusiast I came across it in the last 7 years. This phrase is often attributed by Clive Humby, a British mathematician and data science pioneer. "Data is the new Gold" in my own understanding means it is valuable, but if unrefined, it cannot really be used. Over time, this phrase has evolved, and "Data is the new gold" is a variation of the original expression. It has since become a popular way to emphasize the immense value of data in the modern era of technology and data-driven decision-making.
The big question you might ask yourself before learning data science is, what is really data science? In a simple explanation, Data science is the study of data to extract meaningful insights for business.
To learn data science you will need the following tools to extract and analyze data
- Programming Languages: Python, R
- Machine learning libraries: TensorFlow, Keras, and Scikit-learn
- Data visualization tools: Visualization tools like Tableau, Power BI, and Matplotlib
- Data storage and management systems: Databases like MySQL, MongoDB, and PostgreSQL
- Mathematics: Linear Algebra, Calculus, Statistics, Probability.
- Data Manipulation: Numpy, Pandas
- Git and Github: Git is for version control while github is the collaboration with other data scientists
- Machine Learning: Supervised learning and Unsupervised learning
- Need of data scientists: The need for data science has become increasingly important in today's world due to the vast amount of data being generated by businesses, organizations, and individuals.
- Opportunities: Almost every organization including blue collar "Jua Kali" sector today they have system/ applications and the application have databases with data. At some point the owners of those applications will need someone to analyze that data to predict for instance usage, income and so on and so forth about the application
- Salary: In the US the Salary of a data scientist is $124,407 per year. Even as a freelance in let's say Kenya that is good money.
Learning in the tech world is something everyone no matter the section you are in you are supposed to do. There are several ways to learn for instance Online Courses, boot camps, communities, Projects, solving bugs and Many more.