The world is expanding so does the amount of data available in different fields. We are living in a 100% data-based world. According to the report which is revealed by the World Bank (2012), everyday 2.5×1018 Byte of data is created. This raw data which is created every single day is referred to as Big Data. According to a report which is done by the Mckinsey Global Institute, Big Data can be defined as “datasets whose size is beyond the ability of typical database software tools to capture, store, manage and analyze.” (MGI, 2015).
Data Science which is nowadays as a Necessity field for the HR
With the advancement of technologies and networks used by the organizations, the input of data and information has been of a huge load resulting in a necessity of enhancing its management.
Data Science Trends
Data science is nowadays covering the entire world which is making the HR practitioner easier and safer. It has enhanced the overall processes in terms of quality and safety of the outcome. Some of the following section which will come up as the basic trends data science incorporates to be a valid and necessary approach in almost every field.
Data science relies on both algorithms and machine learning to perform its tasks. Algorithms are very essential in the data science realm. Algorithms which are nowadays mostly defined as “well defined computational procedure that takes some value or set of values as input to produce a value or set of values as output.
• Predictive Analytics:
Data science has been used as a way to predict a specific outcome. The incorporation of predictive analytics to the world of data science in the field of human resources can lead to various successful outcomes. It can assist in the forecasting of trends in the Human resources industry.
- Artificial Intelligence and Machine Learning:
Data science has revolutionized the way data and information is perceived. The most prominent trend among others within the data science field is the artificial intelligence.