Everyone might have heard people talking about 'Data Science'.
Many people know what is Data science, what is in it, what are the steps involved in it etc.
But there are lot of students or engineers, who do not know what Data science is.
So it is our humble effort to introduce Data science and its benefits to you.
What is Data sceince?
In simple terms, data science is the extraction of actionable insights from raw data.
Data science is the area of study which involves extracting insights from huge data by the use of various scientific methods, algorithms, and processes. It helps you to discover hidden patterns from the raw data.
Data Science is an interdisciplinary field that allows you to extract knowledge from structured or unstructured data.
Data Science has emerged because of the evolution of mathematical statistics, data analysis, and big data.
Data science enables you to translate a business problem into a research project and then translate it back into a practical solution.
Benefits of Data Science:
- As per Mukesh Ambani,data is the oil for today's world. With the right mix of tools, technologies, algorithms, we can use data and convert it into a distinctive business advantage.
- Example:Based on the mobile usage data, Goole map can show the current and predicted traffic in a perticular route
- Data Science can help you to detect fraud in financial or telecom sectors using advanced machine learning algorithms
- Data science helps you to prevent any significant monetary/life losses
- Helps in predicting upcoming or possible diseases like Cancer in human beings
- Data science helps machine to be 'intelligent'
- You can perform sentiment analysis to gauge customer brand loyalty or opinion about the upcoming movie
- Data science enables you to take better and faster decisions in the business
- Helps you to recommend the right product to the right customer to enhance your business. We have seen this in video recommendation by YouTube.
Data science is the extraction of actionable insights from raw data. It helps in making faster and better decisions, predict diseses and prevent losses in the business.
Note: Please let us know if you interested in knowing more about Data science.