10

POPULAR
DATA SCIENCE
TOOLS
TO CONSIDER
EXPLORING
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Data Science has become a culture to be followed by businesses of all sizes. Irrespective of the
industry you are impacting, data is generated everywhere. This is the time when making sense
of this mass of data pool becomes essential for good business health. A variety of data
science tools are deployed by specialized data professionals to facilitate big gains and key
futuristic insights.

Let us throw some light on the key industry growth numbers that are making way for massive
foreplay before the big future reveal of the giant data science market.

GEOPHYSICAL DATA COLLECTION

GLOBAL MARKET REPORT 2024

$8.2
Billion Growth Rate through 2024 - 2028:

2.0%
$7.57
Billion
Major Driver

$7.43 The increasing demand for the oil and gas

Billion industry will drive the market

Largest Region in 2023

North America

Leading Trend

Technology Collaboration is a key trend in

2023 2024 2028 geophysical data acquisition.
Source: tbrc.info

The Business Research Company's recent report reflects upon the critical fact that North
America is going to be a promising player even in the future of data science market
amplification. Popular trends shall expect technological collaboration to be the main driving
force through 2028.

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GLOBAL DATA SCIENCE PLATFORM MARKET
Size, by Component, 2024-2033 (USD Billion)

2000 Services 1,826.9

1800 Platform
1600
1,418.4
1400
1200 1,101.3

1000 855.0
800 663.8
600 515.4
400.2
400 310.7
187.3 241.2
200 145.4

0
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

Source: Market.us

The presentation above reflects upon the overall global data science platform market size that is
stipulated to grow at a CAGR of 28.8% through 2033 reaching a whopping USD 1826.9 billion
mark (market.us).

WHAT ARE DATA SCIENCE TOOLS?

A data science tool is used to sift through the raw and complicated data (structured as well as
unstructured). Thereafter, it indulges in processing, extracting, and analyzing data to reveal
valuable insights by applying a variety of data processing techniques. These may include
statistics, computer science, predictive modeling, analysis, and deep learning.

HOW DO DATA SCIENCE TOOLS IMPACT THE INDUSTRY GROWTH?

Data visualization tools, as the name suggests; are capable of revealing key insights by
projecting the data pool in a more comprehensible manner in the form of pie charts, graphs,
tables, and more. The massive information pool presents exciting opportunities for industries
to grow through data science. Healthcare, finance, energy, media, and several other industries
are discovering insights from big data through data science.These help businesses in making
strategic decisions and optimize outcomes for the greater good. Data visualization tools
have become the elixir for nuanced data procedures to guide big business decisions ahead.
These bring the clear reflection of big data to life by using pie charts, interactive graphs, and
more. This has set the global market growth trajectory for the same on a higher pedestal.

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DATA VISUALIZATION TOOLS
GLOBAL MARKET REPORT 2024

$13.82
Billion Growth Rate through 2023 - 2028:

12.1%

Major Driver
$8.75
Billion The growth in bigdata is expected to propel
the growth of data visualization tools market
$7.77
Billion
Largest Region in 2023

North America

Leading Trend

Technological advancement is a key trend in

2023 2024 2028 the data visualization tools market
Source: tbrc.info

Looking at the above representation, data science tools, popularly coined as the Data
visualization tools market are on a progressive trail with the global market score settling at
USD 13.82 billion by 2028 (The Business Research Company Report).

Python, R, Julia, SQL, Seaborn, MATLAB, and many other data processing tools can be
explored when devising one of the best strategies to guide business decisions.

Let us take a dig at the most promising data science tools that are expected to rage in the
years to follow.

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 TABLEAU
Developed by Google, Tableau is a popular data visualization tool that assists in
data exploration and analysis by creating interactive charts, and graphs. Etc. It can
connect to OLAP cubes, databases, spreadsheets, and other data sources. It offers
enough opportunity to visualize your data before creating a model. Moreover,
tasks that can be dealt with in SQL, can be taken care of in Tableau. Forbes Advisor
has called Tableau the best data visualization tool for interactive charts in 2024.

MICROSOFT POWER BI
Data visualization and integration of visuals into the apps are made easy with
Power BI. It is a unified platform for self-service and business intelligence. It is a
collection of software services, apps, and connectors that work together to turn
your unrelated data sources into visually immersive, coherent, and interactive
insights. On global charts, Power BI encompasses a 36% market share; making it an
inevitable option for excellent career opportunities ahead.

DATAWRAPPER
Data wrapper is a popular data science tool created by over 20 professionals to
facilitate the creation of the best data visualization tools for everyone who wishes
to show their data in beautiful charts, maps, and tables. Their free plan enables you
to create, publish, embed, and export Datawrapper visualizations as PNGs without
limits.

TENSORFLOW
TensorFlow is an end-to-end source platform for machine learning. It possesses a
comprehensive, flexible ecosystem of tools, libraries, and community that offers a
range of tasks. It is popularly used for developing models for various tasks,
including NLP, image and handwriting recognition, and computational-based
simulations as partial differential equations. It is widely known for its flexibility and
scalability and is used by industry giants such as Airbnb, Intel, and Twitter.

JUPYTER NOTEBOOK
Using Jupyter Notebook online offers a comprehensive, collaborative, and highly
efficient environment for data scientists in 2024. It leverages the power of cloud
computing and collaborative features, making it an ideal choice for projects and
research in modern data science.

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 DOMO
A cloud-based business intelligence platform that includes data science tools to
connect, transform, and visualize data, and build models. These help in visualizing
results, ModelOps, and model drift detection. It is easier than learning Excel.

APACHE SPARK
Apache Spark is a multi-language engine for executing data engineering, data
science, and machine learning on single-node machines or clusters. It is an open-
source distributed processing system used for big data workloads. It utilizes in-
memory caching, and optimizing query execution for fantastic analytics against
data of any size.

PANDAS
Pandas is a free open-source Python library for data science. It is popularly used for
data manipulation, analysis, and visualization. It is built on top of the NumPy
library and offers high-performance data structures and operations for working
with numerical tables and time series. It is a powerful tool for data scientists and
analysts.

NUMPY
NumPy is a Python library that offers a high-potential performance catering to
multidimensional array objects, and tools for working with these arrays. It is the
core library for scientific computing in Python and is used in a wide variety of fields
such as scientific computing, machine learning, image processing, financial
modeling, and more.

SCI-KIT LEARN
Sci-kit Learn is a free, open-source machine learning library for Python. It is a
feature-rich library that offers classification, regression, clustering, and
dimensionality reduction algorithms.

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DATA SCIENCE INDUSTRY OUTLOOK BEYOND 2024:
Data monetization is the way forward! The University of San Diego has reported that at least
75% and as many as 94% of data scientists have earned a master's degree or higher to secure
a meaty role in data science.

This involves gaining competence with the top and most futuristic data science tools and
data visualization techniques to impact the greater business landscape.

HIGHEST PAYING CITIES FOR DATA SCIENTIST IN US

Salary (per year)

$1135,691
$135,824

$135,646
$156,923

$136,392
$139,757

$118,499
$119,410

$114,881

San Francisco, New York, Palo Alto, Seattle. Boston, Redmond, Austin, Chicago, Irvine,
CA NY CA WA MA WA TX IL CA

Cities
Source: Kanan.co

The representation above showcases a strong bounce back of data science job roles, making it
a clear indication for you to land for your preferred data science job in popular citise in the
USA in 2024 (Kanan.co). With 40% of organizations considering it critical to achieve
productivity and efficiency gains from Generative AI; the data pool is going to ramp up in the
coming years (Dresner Advisory Service, LLC). Enhanced customer experience and
personalization are the next in priority ranking, followed by search quality and decision-
making goals. These are guiding the world of data science with greater efficiency and targeted
return on investment with massive insights.

Augmented analytics, edge computing, data security, responsible AI, data cloud migration,
natural language processing, AI as a service, streaming data analytics, automation, and other
diverse trends are guiding the data world.

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 CONCLUSION
The increasing volume and complexity of enterprise data as well as
its central role in decision-making and strategic business planning
are driving organizations to invest big time in quality data science
professionals.

Earning the most nuanced skills and hot data science tools is a
must to land a credible role as a specialized data scientist. Trust the
most trusted and bring massive credibility and boost to your
portfolio as you pivot into a world of data opportunities.

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 GET

CERTIFIED

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