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Data Science is the buzzword that is ringing around in the IT industry and is impacting every sphere of our Modern Era. The definition of Data Science is quite simple, that is, the science of extracting meaningful information or insight from data sets. But as simple as it may sound, it isn’t. This newfound domain has transformed every industry we know of and has shifted our perspectives in many ways. Rather than making assumptions in businesses, which can skyrocket or misfire the organization’s strategies with the power of Data Science, you can take calculated risks to achieve the best possible result every time. Sounds fascinating right? Yes, it is.
Let’s dive into this topic to find out how it rules the Modern Era.
A glance at the topic which we will discuss down below:
- What is Data Science?
- Who is a Data Scientist? And What does a Data Scientist do?
- What are the applications of Data Science?
- Conclusion
What is Data Science?
It is the science of extracting meaningful and actionable insights to empower and support the decision-making process. Now, you may wonder, why didn’t Data Science was invented much before? Well, before the advent of faster computing, cloud capabilities, and analytics tools and services, there existed Statisticians who performed mathematical explorations on a set of data to derive insights.
Those times, we can afford to solve only simple problems, with not many constraints, and thus get restricted to making decisions, like where to build a school, hospital, etc. based on the population in an area. And many such simple problems were solved with the help of statistics.
Once these technologies became mainstream, with the help of faster computing and industry-grade analytics tools, helped in solving complex problems of society, predominantly in the business sector, to drive sales, improve customer experience, and reduce the failure of products and services which eventually will bring down expenses in huge margins.
And in this digital era, every company is recognizing the importance of data and started investing in this field, because they are sure that they will reap its benefits. Data is the new electricity, as many industry experts claim, where there is huge data, the chance of growth increases exponentially. But merely possessing large sets of data, will not get the job done. But you should also have an infrastructure wherein you can derive insights from these data, otherwise, this data becomes useless. Well, then here comes the question.
Who is a Data Scientist? And What does a Data Scientist do?
Data Scientist is a professional of the Data Science domain, who is an expert in handling large sets of data, transforming them, and extracting meaningful actionable insights to help make informed decisions for an organization. Without Data Scientist no company can survive in this data-driven world today. According to Harvard Business Review, Data Scientists job is “the sexiest job of the 21st century”, since this field is an inter-disciplinary domain, that is a combination of many domains, like Programming, Math, Analytics, and even lately Machine Learning and Artificial Intelligence is slowly being integrated into the domain. If you wish to master A.I. check out this Artificial Intelligence Course.
So, if you aspire to become a Data Scientist, then you should:
- Be good in Math (Algebra, Statistics, Probability)
- Have good proficiency in a Programming Language (R or Python). Excited to learn Python? Check out the Python Certification course designed by industry experts.
- Non-technical skill sets or soft skills include good communication and interpersonal skills, analytical thinking, problem-solving capabilities.
- And many companies prefer their Data Scientists to have Data visualization tools knowledge like Tableau or Power BI, etc. but it varies from company to company.
If you wish to get trained and certified, in this exciting domain to become a Data Scientist, check out an industry-grade Data Science Course that will offer you guided projects and exercises once you learn the basics, to help you enhance your practical hands-on experience and skills.
What are the applications of Data Science?
The applications of this domain are various, and Business has leveraged its usage in every domain, to help it bolster its position among its consumers, from in-depth data aggregation and analysis, they have transformed the way they used to do business to harvest maximum profits by reducing their expenses. Some of the application of Data Science are:
- Better Marketing will help the companies better understand their customers, their needs, their demographics, and their experience, and where they lag, in their output, to spearhead their campaign, to increase their profit margin.
- For Innovation, to harvest more customer-centric ideas, to increase product acceptance, and reduce their failures.
- For Custom Acquisition for creating tailor-made custom preferences for their customers.
- For Enriching Lives by understanding the existing problems, and trying to solve them using the principles of Data Science.
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Conclusion:
Data Science is one of the most trending domains, and job providing sectors and is exciting for those who are passionate about statistics and are excited to find out a pattern among unstructured and structured data to make sense for making an educated and well-informed decision. If you are interested to tread the path of a Data Scientist, then this is the correct time, to upskill yourself with the required skills, and enhance your soft skills, to help you better explain the extracted insights to a non-technical or people from a management background.