Data Science - the New Paradigm of Technology

Dr. Parshotam S. Manhas We're entering a new world in which data may be more important than software -Tim O'Reilly Data Science is the technology that has emerged out as one of the most popular fields of 21st Century due to the onset of Artificial Intelligence and Deep Learning. Data science employs scientific methodologies, processes, algorithms and systems to extract knowledge and useful insights across structured and unstructured data in various forms. It is in fact an empirical concept to amalgam statistics, data analysis, machine learning and their related methods to analyze actual phenomena with data. Data is considered as a'fourth paradigm' of science after empirical, theoretical, computational science and everything about science is changing because of the impact of information technology and the humongous data explosion. Companies employ data scientists to help them gain insights about the market and to better their products. Data scientists work as decision makers and are mainly responsible for analyzing and handling a large amount of data.