Wednesday, August 7, 2024

Data Science And Machine Learning Tools Of 2024





Deep Thoughts

Data science and machine learning technologies have long been important for data analytics tasks and predictive analytical software. But with the wave of artificial intelligence and generative AI development in 2023, the importance of data science and machine learning tools has risen to new heights.

One absolute truth about AI systems is that they need huge amounts of data to be effective.

Data science combines math and statistics, advanced analytics, specialized programming and other skills and tools to help uncover actionable insights within an organization’s data. The global data science tool market reached $8.73 billion last year and will nearly double to $16.85 billion by 2030, according to 24 Market Reports.

Machine learning systems make business-outcome decisions and predictions based on algorithms and statistical models that analyze and draw inferences from huge amounts of data. The worldwide machine learning market is expected to reach $79.29 billion this year, according to Statista, and grow at a 36 percent CAGR to $503.40 billion by 2030

Here’s a look at some of the hottest data science and machine learning tools in use today. Some of the following tools are relatively new to the market while others have been around for a while and recently updated. The list also includes both commercial products and open-source software.




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