Business Intelligence Database

What is Data Science?

Data is the new oil for all industries. Data science is the study of data. It involves developing methods of acquiring and analyzing data effectively, extracting useful information, and helping businesses to solve their priority problems/take decisions.

Data science is an interdisciplinary field that uses scientific methods, processes, algorithms, and systems to extract knowledge and insights from structured and unstructured data. Data science is related to data mining and big data. Data mining is a subset of data science.

Data science is more closely related to the mathematics field of Statistics, technologies (Python R, Machine learning, Deep Learning, AI, Tableau/Power BI, Big data), and any domain expertise which includes the collection, organization, analysis, get insights, build and deploy model and presentation of data.

Why Data Science?

Now a day’s everyone is discussing data science. We are in the era of cutting-edge information technology where the computing power of computers has increased exponentially, storage capacity has increased tremendously and the cost of both has come down significantly.

So data and computing power have become weapons and with the help of data science, we can solve business problems at hand using already built-in algorithms. Be it, to predict sales in the upcoming month or next 3 months, or predict if a person is having cancer or doing market basket analysis, data science can help to solve all such problems.

It helps businesses to increase profit, revenues, and sales, increase productivity, alert businesses on inventory, alert if patients will have trouble in the future, and so on. Across all domains, data science is being used. Currently, the demand for a supply of data scientists is inversely proportional.

All companies are seeking good data scientists, data analysts, data engineers, ML engineers, and Data Visualizers, to help them to find out insights from the data and solve their and clients’ business problems.

Anyone from any industry can transition into the data science field including freshers without requiring much programming knowledge. You need to have passion, patience, and perseverance to become a data scientist or one of the roles – Data Analyst, Data Engineer, ML Engineer, or Data Visualizer.

Hope this helps. Let me know if you need any more details from my end.

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