How Data Science Contributes to Digital Economy In the current corporate world, big data and technology are the two mainstays of any business house striving to beat the competition and reign supreme. Yes, big data and technology. With organizations going global digitization was the way forward. Result: Huge amount of data generation. No surprises then – when organizations that receive huge amount of raw, unstructured data seek data science professionals to make sense of the received data, which is both harvested and processed on a day-to-day basis. Data Savvy Organizations, Data Science, and Digital Economy There seems to be a data revolution with businesses becoming data savvy, and collecting huge amount of raw, structured, and unstructured data from various sources like social media, client interactions, and emails amid other areas. This data revolution has given birth to digital economy also known as internet economy or web economy. But what is digital economy and how is data science driving it? Are you also thinking about these questions? Yes, keep reading to know more about digital economy and how data science is driving it. What is Digital Economy? Digital economy is an economy where a major part of the business is conducted through the online markets or ecommerce sites. Other names for digital economy are Internet Economy, Web Economy, and New Economy.
While the clear distinction of digital and traditional economy is bit difficult considering that both the economies are intertwined with each other. Digital economy is a result of billions of online connections that are made daily between businesses, data and processes, devices and even people. Digital economy is based