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Data science is an interdisciplinary industry, which is aimed at deep data (structured and unstructured) study and understanding using scientific methods, processes and systems. Data science is a continuation and development of certain spheres of data analysis, namely statistics, classification, clustering, machine learning, data production and forecast analytics. However, this science differs from its predecessors using advanced technologies and tools for collecting, processing and analyzing data on a scale that have not been previously available. In addition, it is focused on solving practical problems, for example, how to improve business processes, forecasting and optimization of different aspects of people’s life. Data science is an important tool for the development of different industries, including business, science, technology, medicine, sociology and much more.

Data science is developing very quickly. Modern companies should pick up new trends to maintain a leading position. Below 5 main trends that cost commercial leaders attention:

1. Real time insights

Systems that are able to determine the best action and provide recommendations on the basis of analytics, retain their importance. These systems, using AI and machine learning approaches, evaluate factors that affect consumer behavior. This, in turn, makes it possible to optimize the style and conditions of relations with users, determine the best option for a particular client in real time;

2. Processing a natural language (NLP)

NLP is a branch of computer science and machine learning that studies technologies for understanding and processing the human language by computers and other devices. This industry explores methods for transforming text data (emails, documents, etc.) on structured data that can be analyzed and used for decision-making. NLP develops rapidly and is already actively used in many areas. In the near future, the trend in the spread of this technology will increase;

3. Development low/no code tools

Such tools allow users to create programs, websites, mobile applications and other digital products without writing the code. This makes it possible to quickly develop and run projects without requiring deep programming knowledge. The simplicity of using these tools makes them quite popular. And this trend will only increase. Their use will allow users to quickly receive relevant information, effectively adapt to competition and market dynamics, and increase efficiency in general;

4. Convergence

The key technologies of the modern digital world are AI, cloud computing, the Internet of things (IOT) and ultrafast networks (5G). Their nutrition source is data. All these technologies are the latest developments in the field of data science, which with joint use, is much more effective than separately;

5. Industrialization of machine learning

Industrialization of machine learning becomes obvious. This is automation and unification of the process of using machine learning models, which allows enterprises to receive information in a timely manner to support business solutions, ensure successful activities and reduce risks.