Data science is the art of using data to draw meaningful insights that enhance business operations. To do this, advanced computational methods and machine learning techniques are applied to large data sets in order to produce results.
Big Data, the massive collection of information companies collect through websites, social media accounts, mobile applications and other technologies, has allowed businesses to more quickly identify trends and patterns in customer behavior and product development - leading to improved sales performance, enhanced customer experiences and personalized offerings for clients.
Data science was not widely recognized a decade ago, yet has seen incredible growth as companies see its value and seek experts capable of mining data for hidden patterns that could bring significant business gains.
Careers in Datascience
Data scientists possess various degrees, from bachelor's in statistics or computer science to master's degrees in data science. No matter which program they pursue, data scientists need strong analytical abilities in order to solve complex problems successfully.
Domain knowledge, which involves an in-depth knowledge of your industry and company of choice. For example, in finance industries you should know how banks manage financial data as well as privacy regulations.
As your skill and experience in data analysis grows, you'll develop the ability to apply different algorithms and statistical models to the data at hand - including machine learning (an artificial intelligence tool used for processing large volumes of information in order to make predictive decisions).
Machine learning experts can create algorithms that clean, sort, and interpret vast volumes of data in order to detect inefficiencies and suggest improvements. Industrial automation company Oden Technologies developed such an algorithm in order to collect manufacturing data in bulk quantities at times when production was most productive and identify times when it would replicate this state and improve efficiency during future runs.
Data scientists play an increasingly varied role, with jobs available across industries and organizations. Healthcare is one such industry in which their skills can be put to good use: tracking electronic medical records for patient health records, recognizing symptoms before they become serious and managing treatment outcomes effectively are just some of their responsibilities.
Data science offers other career options such as data analytics. A data analyst analyzes data and makes recommendations for business improvement by gathering, cleaning, formatting reports/dashboards/visualizations as well as communicating results to key stakeholders.
Data analysts often work closely with IT to manage data pipelines, infrastructure and software applications. They report directly to a business manager who oversees their project and collaborates with data scientist to characterize a problem and devise an analytical method.
Data Science can be an exhilarating and rewarding career that brings many rewards both professionally and personally. It requires having an in-depth knowledge of data, the ability to interpret findings clearly, and communicating findings efficiently to stakeholders. Visualization plays a vital part of data science processes by helping audiences quickly comprehend complex ideas.
