Modern analytics is a decisive success factor for service-oriented business models in the Internet of Things (IoT) and for Industry 4.0. A new white paper from CONTACT Software explains the state of data science and shows what the latest methods can achieve in practice.
In recent years, interest in analytical methods for data exploration has increased enormously. Drivers of this development are huge data collections (big data), breakthroughs in algorithmic research, the general availability of large storage and computing capacities at sharply decreasing costs, and currently the increasing number of devices connected with the Internet of Things (IoT).
These factors have contributed to the fact that the new term "data science" has emerged as an independent science alongside the classical curriculum of statistics. “It is becoming more and more important for companies to understand the current analytical hype and take appropriate measures," says Dr. Udo Göbel, author of the new white paper and member of the board at CONTACT Software. Here, the manager sees above all a challenge for the technology leaders in their respective markets, as they are particularly exposed to the driving megatrends.
Analytics is a complex field of expertise with many facets. Information seekers are therefore at risk of getting lost in details due to the large number of publications. CONTACT´s new white paper provides a good overview to the topic. “We concentrate on describing the most important factors influencing the past, present and future development of this area so that the reader can assess the significance of the topic and, if necessary, delve deeper into it," explains Göbel.
The free white paper can be downloaded from the CONTACT homepage.
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