According to a recent Indian jobs study, data science is one of the topmost and fastest growing field in India and its relevance is increasing in almost every sector. Reports from NASSCOM suggests that India’s data industry would reach $16 billion by 2025 from the present level of $2 billion. At the core of it, data science is the science of examining raw data and applying statistical techniques for the purpose of drawing business related conclusions and predicting business outcomes. In every organization, there are opportunities to implement data science and transform the way business is carried out.
Leading analysts like Gartner and Forrester have quoted 2018 as a milestone year for organizations, with over 70% of them expected to leverage data science for Business Optimization. It is one of the most talked about topics in the CxO community.
In today’s era, all small and large corporates are sitting on a gold mine of data, however, the biggest challenge they are facing is to use these data to get business insights which they can implement to make effective business decisions and optimize their business. In the Indian context, below are the industries adapting data science to gain the competitive advantage
Financial institutions are optimizing price, improving customer satisfactions, predicting risk of defaults, optimizing underwriting process
Hospitals are increasing diagnoses accuracy, providing physicians with accurate sickness’s causes for individual patients, preventing patient readmissions, predicting risk of infections
Retail chains are increasing occasional and loyal customer satisfaction, optimizing campaigns, offering the right price for products, preventing inventory shortage
Manufacturing organizations are predicting machine failures, providing predictive safety alerts, building accurate pro-active maintenance plan
However, applying traditional data science methods to real-world business problems is time-consuming, resource-intensive, and challenging. It also requires experts in the several disciplines, including data scientists.
Enterprises leveraging Automated Data Science to achieve efficiencies
Automated data Science represents a fundamental shift in the way organizations of all sizes approach machine learning and data science. Automated data science platforms are bringing the advanced AI techniques into reach for the mainstream. Organizations are finding that with automated data science they can make progress in AI without hiring new data scientists or embarking on expensive, time-consuming training for their employees. Instead, almost anyone with domain experience and a familiarity with data can build predictive models without writing a single line of code or having deep knowledge of machine learning algorithms.
With automated data science, AI innovation is not just exclusively in the realm of the data scientists, but can now be shared with those that best understand the business needs. The main obstacle to AI success is no longer capability, but rather a refusal to embrace new methods and new approaches. Automated data science platforms removes many of these obstacles, and with a sound data science strategy will accelerate your success.
Automated data science saves up to 80% of time in model building, cuts 90% of the learning curve time, delivers 20~40% more accurate and stable models and lastly zero preparation time for production deployment of models, thereby giving the utmost advantage to organizations to adapt data science.
The world is being disrupted by visionaries. Combining the power of AI and automated data science with a sound strategy is helping build a future that is smarter, more efficient, and fairer for everyone. The companies that take advantage of automated data science will succeed and prosper. Those that don’t will be left behind.
About the Author
Srinivasan Rengarajan is the VP & Global Head – Data Science and Analytics at 3i Infotech. You can know more about him here.
Bengaluru-based Institute of Product Leadership, India’s first B-School for technology managers, will hold the Data Science Summit 2018 at Cessna Business Park in Bengaluru on Friday, 6th April 2018. It aims to introduce a few key early adapters in AI, bust some of the myths surrounding jobs and career in data science and Artificial Intelligence [AI].
The Summit is an opportunity for those working in the field of data science and those passionate about the subject, to network with the over 300 professionals and 25 executive leaders from the top companies who work in the space of Data Science and Artificial Intelligence. They will demystify how data science and Artificial Intelligence will help you achieve your career goals.
Many of the experts who you will get to hear at the event include
Shivaram K R – Chief Executive Officer, Curl Analytics, among others.
The summit will have experts speaking of the sectors that can extensively put to use data sciences and Artificial Intelligence. The attendees can also get a peek into the future of both these and how they would be put to work in sectors as varied as healthcare and E-commerce.
Speaking of the summit, Dr Marya Wani, Director of Programs – School of Data Science, said
The event will have experts from Hyderabad, Silicon Valley and Bangalore. They are people who have done a lot of work in this field. It will be of use to executives, data scientists, engineers, developers, business development professionals, Data Analysts, Product Managers and most importantly data science enthusiasts who are involved in data-driven decision making.
The experts will also deliberate on how India can be in the forefront in the field of AI.
About Institute of Product Leadership [IPL]
The Institute of Product Leadership was born in conjunction with the Executive Product Industry Council [EPIC], a group of elite product leaders who currently drive product innovation from India in global companies. The EPIC board, along with the Board of Academics and Research [BAR], distinguished Executive Coaches and Faculty, provide advice on the productizing of new technologies and ideas, devise programs that enable technology leaders to graduate from being code-centric to customer-centric and also help the engineering centers in Asia nurture the next generation of product leaders. For more information, please visit Institute of Product Leadership
Data Science, Artificial Intelligence, Machine Learning are some of the hot trends in technology and definitely they are here to stay. There is a huge demand-supply gap of data scientists and as per Forbes it is considered as the most sexiest job to pursue. As stated by Srikanth Velamakanni, CEO of Fractal and a member of the Analytics Interest Group – Presently there are only 10,000-15,000 analytics and data experts in India,and there will be a shortage of two lakh data scientists in India over the next few years. [Source].
Today we have a discussion with Dr S Ramesh Babu, Director & Head of Manipal Global Academy of Data Science, Manipal Global Education Services about the course, demand for data science, industry relevance of the course, etc.
So, let’s get started with the Q&A….
How and when did you plan to have a program specifically designed around Data Science ?
As our world turns increasingly digital, there is an overwhelming and rapidly growing amount of data being generated and made available every hour. As per an IBM report, 90 percent of the data in the world today has been created over the past couple of years. And this is growing exponentially each and every day.
While various tools and software-like Hadoop have been developed to organize and make sense of this unending avalanche of data, there is an acute shortage in the number of people who can effectively use them. The fact that data science professionals require multidisciplinary skills including mathematics, statistics, and technology; professionals’ crossing over and meeting business needs makes things even more difficult.
While various institutes and entities have sprung up over the past couple of years to bridge this shortage of talent, the plethora of the problems in the data science field is so humongous that only knowledge experts with an outside-in approach from the data science field can solve this.
To address this challenge, Manipal Global Academy of Data Science (MGADS) put together faculty comprising veteran IT industry professionals and academics to provide industry relevant learning in the form of the Post Graduate Diploma in Data Science Program. They are supported by state-of-the-art infrastructure, the latest technology and a well-equipped, 77,000 square feet residential campus.
Can you please share some insights into this Post Graduate Diploma Program offered by Manipal Group [content, time, fees etc.]
The Eleven-Month Post Graduate Diploma in Data Science from Manipal University, is designed specifically for the industries and domains where such talent is required. The program will help you develop the knowledge and skills for first-day first-hour productivity in a data science role.
The curriculum will lay the foundation, introduce you to the basics and then move on to the advanced application-based courses of data science. The foundation level courses include Database Management, Programming for Data Science using R, Statistical Techniques and Exploratory Data Analysis.
The Basic courses include Machine Learning, Big Data Technologies, Data Visualization. These are then built on with the advanced courses.. Our curriculum also includes electives that we think are unique, building domain-specific competence in you. The electives offered are in the following domains: BFSI, Marketing; and additional domains will be offered in future. It also comprises of certain behavioural and soft-skills training that would complement the skill-set of a successful Data Scientist.
Team at Manipal Global Academy of Data Science
There are many data science & analytics training options available in the market, online and otherwise. How does the Program at Manipal Global Academy of Data Science differ from the lot ?
Manipal Global Academy of Data Science offers customized solutions to meet the various levels of industry, all designed to ensure first-day first hour productivity for data science professionals. It co-creates solutions with clients who are looking forward to set up an analytics unit. Areas such as predictive analytics and forecasting are included in the solutions offered to the B2B clients.
Programs are also offered to individuals interested in furthering their careers in field of data science. The academy provides comprehensive programs full-time eleven month program spread across four terms. A stringent eligibility requirement and competency assessment test ensures that only those who fulfill the necessary criteria can join this program.
A go-ahead from Manipal University’s Board of Studies adds rigor to the carefully crafted curriculum and our Industry partners [Genpact, Experian, IBM Big Data University] add relevance to this program. Moreover, the diploma for this program is awarded by Manipal University. These facts completely differentiate us from other training/certificate providers in the data science stream.
What is the target audience of the program (experienced and fresh graduates or only experienced) ?
Manipal Global Academy of Data Science offers Full-time eleven-month program for both fresh college graduates and experienced professionals. However, the Part-time program, offered on the weekends, is only for experienced professionals [subject to fulfilling the eligibility criteria].
Data Science as a field has become more prominent now. Apart from Data Science what are some of the emerging trends that would gain prominence in future!
The key developments in the next few years will be the gradual shift within enterprises and institutions away from isolated data siloes into open data platforms. Information sharing will become easier not just at the person to person level but also at the machine to machine level, as layers of semantics standards, best practices, innovating data technologies and organizational changes transform the role of data in our lives.
There are new professions that are seen emerging. These include professional computational decision engineers and AI [artificial intelligence] stewardship.
In the far future, we could see the birth of the Chief Meaning Officer-equal parts decision scientist, IT manager, storyteller, and organizational anthropologist.
There are many engineers from diversified roles interested in data science, statistical science; any tips on how they can change their career paths ?
A data scientist is someone who is better at statistics than any software engineer and he is better at software engineering than any statistician. Hence, anyone with a good quantitative aptitude can be a data science professional.
What are some of the basic traits that a Data Scientist needs to pursue ?
It is still an evolving field. Apart from having a quantitative aptitude, some of the skills needed include a flair for programming; knowledge of Math, Stats and Probability; Machine Learning; being skeptical and communication. Communication is the way for data scientist to show their findings to other people, which leads to visualization and presentation skills to be high on lists like this.
Can you list some of the tools that would be covered as a part of the course ?
Through this program you will learn the following tools and be equipped with these competencies:
Computing – Topics in Programming taught on R, Database management Systems taught using SQL and No-SQL, Statistical techniques and Exploratory Data Analysis will cover Algorithms & their performance.
Machine Learning – Knowledge about different algorithms like Regression, classification, clustering and recommendation systems, Artificial Intelligence.
Big Data Technologies – Hands-on experience on Hadoop ecosystem [For parallel processing of large data-sets; PIG – unstructured Data processing, and HIVE for structured DP]; open system tools [APACHE SPARK and STORM].
Data Visualization skills will be taught on tools like proprietary products.
Details about the faculty for the course and about Manipal’s involvement w.r.t placements, affiliations in industry etc.
Dr S Ramesh Babu is the Director and Head of Manipal Global Academy of Data Science, Manipal Global Education Services. He has two decades of professional experience in various positions in Technology, Management, Consulting and Leadership in the IT industry. His functional areas include driving enterprise-wide capacity and capabilities programs, and aimed at designing and deploying learning solutions.
Prior to joining Manipal, he has worked at Infosys for 19 years, and prior to that in Tata Research Design and Development Center at Tata Consulting Services. His last role has been Associate Vice President at Infosys.
Dr Yogesh Kumar Bhatt is the Vice-President – IT Education and Training at Manipal Global Education (MaGE). He heads Manipal Academy of Information Technology (MGAIT), and looks after entire academic development and delivery of programs for Information Technology vertical. He has around two decades of experience involving employee competency development, education, training, delivery and consulting in Information Technology sector.
Prior to joining MaGE, he has worked for 16 years with Infosys, spending this time across various functions and roles. His last role at Infosys was as the Associate Vice President and Head of Consulting and Systems Integration Academy.
Bhaskaran Srinivasan is a Senior Strategy Consultant helping companies to innovate and deliver their products and services, in a manner that ensures sustainable business, for both themselves and their customers. He is a trusted advisor in helping craft and live a strategy. He works with companies to help improve performance parameters such as top line, bottom line, customer satisfaction, employee satisfaction, product and market mix. He is also an accredited CEO Coach through Coaching Foundation of India. With over 30 years of business experience, of which 10+ years were in the role of senior management in Royal Philips Electronics, his focus areas include: Business Strategy; Deploying effective Management Practices; Organization architectures; Contextualized Training; Strategic Workforce Planning; Leadership development; Organization Competence Development; Executive Coaching etc.,
Manipal’s involvement in Placements – We are assuring 100% Placement assistance to all our learners, irrespective of full-time and part-time program, as long as they are self-sponsored and they meet all the placement eligibility criteria. We have Industry partners on board, who will play a major role in recruitment in final placements, as also for the internships in the last term.
For enhanced learning experience, we have extended the benefits of the Coursera-Manipal Global relationship to our Learners, wherein they can choose from a bouquet of specializations to enroll into, as an attractive package [additional certifications from leading global institutions at discounted prices!]. Also, through our relationship with IBM Big Data University, we have integrated some of their content in our program curriculum.
Can you mention some of the industry verticals that would be a part of the Data Science course ?
