Data science is evolving at an unprecedented pace, and so is the research being conducted in the said sector. Data analytics has emerged as one of the top disruptive technologies of the past decade that has continued growing to date. Given the amount of data we generate in a day as world population, the said sector is destined to grow further in the years to come, thus bringing in huge growth in employment opportunities across the globe.
As per a Statista report, the global big data market revenue in 2018 happened to be USD 168.8 billion which is forecasted to soar to a whopping USD 274.3 billion by 2022, thereby registering a highly impressive CAGR of 13.2%.
WDSI Data Science Research Grants Worth $300 Mn for Universities
A plethora of research areas exists in the field of data science to run experiments onto, especially for college students in universities who are currently learning advanced data science concepts. But, the biggest roadblock in carrying out data science research by college students worldwide, is the lack of funding. And that’s exactly why WDSI (World Data Science Initiative) is offering institutional grants worth USD 300 million in subsidies on data science research and training.
The initiative aims to train 250,000+ individuals in advanced data science concepts to build a futuristic workforce who will carry the baton forward heading into the future of data science research and development. Universities and educational institutes from across the world can apply online for the mentioned data science funds program.
A Plethora of Potential Benefits with WDSI University Grants
Under the WDSI subsidies for institutions, accreditation aid will also be issued to selected institutions that impart data science education. Besides, the chosen universities and institutes will be offered big subsidies on globally-recognized and vendor-neutral DASCA certifications, through which, they can get their students certified.
Data Science Excellence Centers will be established across select universities within their campus premises to assist the learning of their students on advanced data science concepts. WDSI subsidies for universities, under which, these International Centers of Data Science will get established, advanced learning on data science will be offered in related disruptive tech like machine learning and AI, apart from the much-obvious data science.
Most Challenging Research Areas in Data Science
The primary goal of conducting data science research is building algorithms and systems that help extract actionable insights, knowledge, patterns, and trends from diverse sources of data. It eventually helps businesses and the general public to better their existing lives, wherein businesses are empowered to make increased profits, and human beings get their lives made more luxurious and comfortable.
Here are the top areas that pose a great challenge to data science research:
- Handling big data that is getting generated in volumes as high as in petabytes, each day.
- Each industry sector is dealing with big data analysis issues including life sciences, medical sciences, law schools, bio-informatics, government, and civil engineering.
- Advanced computing platforms are growing really fast, such as multi-core machines, cloud computing, mobile-computing, GPU, among others.
- Data analytics is growing complicated with each day passing by.
- Establishing effective communication between algorithms, machines, and people is yet to be attained.
We hope the article has had educated you on the need for data science research and related funding. If you are an institution or university reading this article, do make sure to apply for the mentioned subsidies and grants under WDSI. The said opportunity is open to all colleges/universities/educational institutes located across the world that impart data science education.