In the next two to three years, consumer data will be the key differentiator. Whoever unlocks the mountains of data and uses it wisely will triumph.
John Tukey described how computers and statistics may be combined to create quantifiable results in just hours in a 1962 article. In his critique, Concise Survey of Computer Methods from 1974, Peter Naur used the phrase “Data Science” numerous times. To connect contemporary computer technology, conventional statistical technique, and domain knowledge to transform data into knowledge, the International Association for Statistical Computing (IASC) was established in 1977. Exploratory Data Analysis, a paper Tukey wrote that same year, outlined the significance of using data.
For new showcasing initiatives, organizations had already begun to collect vast amounts of personal data by 1994. The necessity for new technology to handle the enormous amount of organizational data was emphasized by Jacob Zahavi in 1999.
The Data Science Journal, a publication of the International Council for Science, was released in 2002 and focuses on data science concerns such as data systems explanation, application, and more. To provide a framework for data teams, Columbia University created the Data Science Journal in 2003. The National Science Board produced a collection of digital data in 2005, and according to IBM, 90% of the world’s data had only been created in the previous two years as of that year. Organizations at this point understood how important data science was for transforming massive data clusters into useful information that could be used to get essential insights.