In a report published in 2019 by IBM, it was reported that the average cost of a single data breach is over USD 3.92 million.
We read every day that we’re in the fourth wave of Industrial Revolution, and businesses are adapting and changing by the minute to thrive in this new dynamic. Technology has become an essential component of every business, including HR.
Just a decade earlier, storing and maintaining data was a nightmare: there weren’t enough processes, inadequate infrastructure, and the lack of technological know-how to create that data into valuable information. However, with rapid technological advancements, we now live in a data rich environment. Around 2.5 quintillion bytes of data is generated and processed every day. Even the AI/ML algorithms have matured slowly to process this data. Therefore, it only seems fitting that data science is a job that has observed a high demand in the market lately.