Fintech, Healthcare and Edutech Place Highest Importance on Data Science and AI ML Technologies
Dresner Advisory Services published the 2020 Data Science and Machine Learning Market Study, part of its Wisdom of Crowds series of research. The 6th annual report examines end user deployment and trends around data science and machine learning. Data science and machine learning technologies include statistics, modeling, machine learning, and data mining used to analyze facts to make predictions about future or otherwise unknown events.
“Over the last five years of our study, both the consideration of and actual deployment of data science and machine learning noticeably gains traction,” said Jim Ericson, vice president and research director at Dresner Advisory Services. “There is a strong correlation between the use of data science and machine learning and successful BI initiatives in 2020.”
According to the study, machine learning, data mining, advanced algorithms, and predictive analytics together as a group rank 20th out of the 41 technologies and initiatives under study. Large organizations dominate use, and “statistician/data scientist” and “BI expert” are the most likely titles of users.
Financial Services, Healthcare, and Education are the industries that place greater importance on data science and machine learning. By function, Research and Development, the BI Competency Center, and Sales and Marketing indicate the highest level of importance.
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“Across all the thematic topics covered in our annual research, data science and machine learning stands out as having among the strongest growing interest within our base of readership,” said Howard Dresner, founder and chief research officer at Dresner Advisory Services.
Wisdom of Crowds® research is based on data collected on usage and deployment trends, products, and vendors. Users in all roles and throughout all industries contributed to provide a complete view of realities, plans, and perceptions of the market.