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Will Data Science Become Essential for Any Business?

What is data science? Data science is a scientific discipline that searches for truth and uses data to generate knowledge and ideas. Data science is developing rapidly and is already of great importance for every industry and field of science. Nevertheless, it is still at an early stage of development.

Data Science market is growing at a cosmic pace

Back in the very recent past, when business learned to collect data, but did not yet know how to fully benefit from it, one could often hear the opinion that big data would simply bury corporations under its own weight. Now there are fewer and fewer such exclamations, and the reason for this was the rapid development of Data Science.

It would seem that a relatively fresh concept is actually present in the life of almost every person. For example, Data Science is at the heart of targeting Google ads, creating personalized recommendations on YouTube or Netflix. The importance of this approach can be proved by absolute values: the market volume of platforms for Data Science in 2017 was $ 20.2 billion, and its average annual growth rate (CAGR) in the context of 2025 will be at the level of space 39.7%. By the way, the market of tools for big data analytics, in which solutions related to Data Science in one way or another, will sooner or later begin to dominate, although it shows a slightly lower CAGR (12.3%), but by 2027 it will reach $ 105 billion. …

The reasons for this growth lie in the ability of Data Science and Data Scientists to use a wide range of tools to infer working business hypotheses from big data and look for interrelated factors. The dependence of business on this direction has obviously become colossal and will only increase over the years. Determining the needs of the consumer and the ability to offer him the right product in the right way, eliminating routine in offices and defective products in production, as well as a relatively acceptable price tag for the implementation itself.

Artificial Intelligence and the Internet of Things are driving data science

The main reasons for the development of Data Science were breakthroughs in certain technologies, which made it possible to use the potential of this approach more fully than, for example, in the second half of the last decade. Experts call the rapid increase in the number of projects using artificial intelligence as one of the key trends. AI is now used in almost all business segments and industries and is constantly evolving. Developing business along the way: artificial intelligence is able to increase the efficiency of business processes by tens of percent, as well as profits. This is achieved through more reliable and automated customer data management. In addition to AI, data science is also affected by automated machine learning, which is still gaining momentum.

Another growth driver has been that the Internet of Things has finally made its way into real-world applications in recent years. Investments in this area by the end of 2020 should amount to $ 1 trillion, and this is far from the limit. The increase in the number of smart and connected devices generates huge amounts of data that can no longer be simply stacked on a data center shelf – they are too valuable. This is especially true for highly loaded industries, such as industry.

The gradual expansion of the boundaries of big data analytics, which is a satellite of Data Science, also played a role. Companies began to receive more valuable information about consumers, cleanse data and give it to Data Science platforms for post-processing. A special role here is assigned to predictive analytics, thanks to which data Scientists can build images of companies for the short and even medium term. This applies both to global stories, such as writing marketing campaigns, and to local business processes, such as filling warehouses.

Another factor, albeit not so obvious, experts call the development of edge computing. Edge Computing solves the problems of channel bandwidth, preventing them from overloading and reducing data latency. In addition, the possibilities for their storage and pre-processing directly at the collection points are expanding, which even the manufacturers of video cameras have already taken advantage of.

At the same time, the world is moving towards expanding the profession of data scientist itself to related industries. In Data Science, all work is usually built in Python. It is as complex as a language, but specialists who speak it are able to quickly and gracefully solve problems related to the security of enterprises, which seriously raises the weight of Data Science as a scientific field. The demand for such employees will grow exponentially over time.

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        An ambassador and trained facilitator under Eco Femme (a social enterprise working towards menstrual health in south India), Sanjina is also an active member of the MHM Collective- India and Menstrual Health Alliance- India. She has conducted Menstrual Health sessions in multiple government schools adopted by Rotary District 3240 as part of their WinS project in rural Bengal. She has also delivered training of trainers on SRHR, gender, sexuality and Menstruation for Tomorrow’s Foundation, Vikramshila Education Resource Society, Nirdhan trust and Micro Finance, Tollygunj Women In Need, Paint It Red in Kolkata.

        Now as an MH Fellow with YKA, she’s expanding her impressive scope of work further by launching a campaign to facilitate the process of ensuring better menstrual health and SRH services for women residing in correctional homes in West Bengal. The campaign will entail an independent study to take stalk of the present conditions of MHM in correctional homes across the state and use its findings to build public support and political will to take the necessary action.

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        Harshita is a psychologist and works to support people with mental health issues, particularly adolescents who are survivors of violence. Associated with the Azadi Foundation in UP, Harshita became an MHM Fellow with YKA, with the aim of promoting better menstrual health.

        Her campaign #MeriMarzi aims to promote menstrual health and wellness, hygiene and facilities for female sex workers in UP. She says, “Knowledge about natural body processes is a very basic human right. And for individuals whose occupation is providing sexual services, it becomes even more important.”

        Meri Marzi aims to ensure sensitised, non-discriminatory health workers for the needs of female sex workers in the Suraksha Clinics under the UPSACS (Uttar Pradesh State AIDS Control Society) program by creating more dialogues and garnering public support for the cause of sex workers’ menstrual rights. The campaign will also ensure interventions with sex workers to clear misconceptions around overall hygiene management to ensure that results flow both ways.

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        MH Fellow Sabna comes with significant experience working with a range of development issues. A co-founder of Project Sakhi Saheli, which aims to combat period poverty and break menstrual taboos, Sabna has, in the past, worked on the issue of menstruation in urban slums of Delhi with women and adolescent girls. She and her team also released MenstraBook, with menstrastories and organised Menstra Tlk in the Delhi School of Social Work to create more conversations on menstruation.

        With YKA MHM Fellow Vineet, Sabna launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society. As a start, the campaign aims to begin conversations on menstrual health with five hundred adolescents and youth in Delhi through offline platforms, and through this community mobilise support to create Period Friendly Institutions out of educational institutes in the city.

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        A student from Delhi School of Social work, Vineet is a part of Project Sakhi Saheli, an initiative by the students of Delhi school of Social Work to create awareness on Menstrual Health and combat Period Poverty. Along with MHM Action Fellow Sabna, Vineet launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society.

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        As a Youth Ki Awaaz Menstrual Health Fellow, Nitisha has started Let’s Talk Period, a campaign to mobilise young people to switch to sustainable period products. She says, “80 lakh women in Delhi use non-biodegradable sanitary products, generate 3000 tonnes of menstrual waste, that takes 500-800 years to decompose; which in turn contributes to the health issues of all menstruators, increased burden of waste management on the city and harmful living environment for all citizens.

        Let’s Talk Period aims to change this by

        Find out more about her campaign here.

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        A former Assistant Secretary with the Ministry of Women and Child Development in West Bengal for three months, Lakshmi Bhavya has been championing the cause of menstrual hygiene in her district. By associating herself with the Lalana Campaign, a holistic menstrual hygiene awareness campaign which is conducted by the Anahat NGO, Lakshmi has been slowly breaking taboos when it comes to periods and menstrual hygiene.

        A Gender Rights Activist working with the tribal and marginalized communities in india, Srilekha is a PhD scholar working on understanding body and sexuality among tribal girls, to fill the gaps in research around indigenous women and their stories. Srilekha has worked extensively at the grassroots level with community based organisations, through several advocacy initiatives around Gender, Mental Health, Menstrual Hygiene and Sexual and Reproductive Health Rights (SRHR) for the indigenous in Jharkhand, over the last 6 years.

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        A Guwahati-based college student pursuing her Masters in Tata Institute of Social Sciences, Bidisha started the #BleedwithDignity campaign on the technology platform Change.org, demanding that the Government of Assam install
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