What is Data Science and why Ukraine needs a science of data

What is Data Science and why Ukraine needs a science of data

Information is a key resource of the modern world, a source of development of existing and the emergence of new businesses. 90% of digital data in the world has been generated over the last two years, each year the volume of data grows by 50%. How to deal with this multi-trance wave that is able to overrun us? Data Science can answer this question. 

Data Science is a branch of computer science that studies the problems of analyzing, processing and presenting data in a digital form. Simply put, this is a science of methods for processing large amounts of data and extracting valuable information from them, which allows you to make more efficient decisions. All this became possible due to the emergence of cloud services for data storage, computer computing abilities, the development of machine learning technologies and neural networks. 

The benefit of analyzing large data can be extracted in all areas where access to a sufficient amount of information is available. For example, in the agricultural sector - the analysis of indicators of various sensors and sensors allows farmers to react promptly to adverse weather conditions, to correctly distribute irrigation and fertilizers, to plan future harvest. By analyzing your preference, different online stores offer you precise recommendations about products or content that may interest you. Medicine, transport, logistics, law, entertainment, finance - the ability to analyze Big Data radically change these areas. 

Today, Data Science is the largest bank in the banking sector (about $17 billion in 2016). IDC claims that global revenues from business analysis and large amounts of data will grow from $130.1 billion in 2016 to over $203 billion in 2020. 

The ability to work with data is in the DNA of our IT-industry. Ukraine has over 60 years of experience in the field of information technology and data science. The first electronic computer of continental Europe was created in Kiev in 1951. Ten years later, Ukrainians designed and manufactured one of the fastest computers in the world for data analysis. 

Today, Ukraine has become a place where companies with a worldwide reputation have placed over 100 of their R&D centers. And this is not surprising – our country is one of the leaders by a number of developers in Central and Eastern Europe and holds leading positions in the world in a number of certified IT-specialists. At present, about 120,000 highly skilled professionals work in Ukraine, 50% of whom are employed in the full cycle of software development. Moreover, Ukraine is known not only by its engineering school but also by scientists from the field of exact sciences - the ability to build complex mathematical models and algorithms is highly sought after in Data Science. 

Many Ukrainian IT-companies have their own expertise in the field of Data Science. For example, GlobalLogic uses technology for data processing and machine learning in medical projects. The company's engineers in Kharkiv create algorithms that allow you to determine the risks of developing complications in diabetes in the eye of the retina. Or, for example, up to 88% can estimate the type of birthmarks in a photo from a mobile phone. 

One cannot but mention the successful Ukrainian startups, based on the analysis of Big Data. For example, Grammarly, whose spell-checking services are based on the most advanced language processing system. Augmented Pixels, part of the top 20 global development companies in the areas of virtual and augmented reality. Looksery, which allows you to impose live streaming video filters (and purchased by the American giant Snapchat for $150 million). 

The developed IT-ecosystem is one of the key factors for the development of science and innovation in Ukraine. Today in our country there are over 1,000 IT-companies, 16 IT-clusters that appear even in small cities. There are numerous hubs and accelerators for the development of startup culture, two innovation parks based on the best European experience. 

In addition, in recent years Data Science and technologies based on working with data arrays have become an integral theme of all large-scale IT-events in Ukraine. For example, such as Lviv IT Arena, Outsource People or Data Science UA Conference. 

Given the accumulated experience and real examples of using Data Science in Ukraine, it is logical that this topic was chosen for discussion at the Ukrainian House in Davos. This is objectively one of the directions in which Ukraine is strong. And the sphere, in which not only Ukrainian engineering talents but also our scientists will be in demand.