Subject archive for "enterprise-mlops," page 3

Who’s doing the most innovative things in data science? Where is the profession going? And most importantly, what can you learn from some of the brightest in the business?

Businesses are increasingly betting big on data science for ambitious near-term growth, just one more indication that the rapidly rising profession is making itself a huge force for innovation in fields as diverse as healthcare & pharma, defense, insurance, and financial services. Nearly half of respondents in a recent poll said that their company’s leadership expects data science efforts to produce double-digit revenue growth. A similar survey in 2021 put that same figure at only 25%, indicating growing expectations for the young profession.

Today’s businesses are investing heavily in data science – spending on software, hardware and services is projected to break the $500 billion mark by 2024, according to IDC. Data science models with machine learning (ML) and artificial intelligence (AI) techniques have proven their worth at forging new revenue streams and upending entire industries. For a model-driven business, new revenue from such use cases can range from hundreds of millions to billions of dollars. At successful companies, leaders have built a well-oiled analytical flywheel to create a steady flow of models that can tap this new gold rush.