DATA SCIENCE: A MEDIUM OF APPLYING THE DATA GENERATED IN THE BEST POSSIBLE WAY
What does data science mean?
The field of data science deals with condensing the skill sets and the knowledge base of different areas which includes programming, statistical readiness, visualization techniques, problem-solving skills and specifically business senses.
The business senses mean the understanding of the business you are dealing with so that the ability and the willingness instilled in you, assist you further in transforming the complex business problems into the solutions which are unearthed using the formerly or forthcomingly available data within one’s reach. The field of data science assists you in connecting the dots between the business world and the data-driven world which means using the data generated on a daily basis in creating customer value and goodwill in the eyes of the target audience.
The three perspectives covered by data science are as follows:
- DATA MUNGING, often referred to as data wrangling, means the process of transmuting the raw form of data into another format which is considered to be more appropriate and valuable. It is generally referred to as cleaning up a messy data set.
- DATA MINING refers to the process of analyzing the large datasets in order to discover and identify the patterns and trends which further assists the Organizations in evaluating the probability of future events.
- DISPENSING ACTIONABLE PERCEPTIONS relates to visualizing the findings in the form of tables etc. and then delivering the valuable insights extracted from the datasets to the decision managers, top executives etc. So as to assist them in the process of decision making.
THE WIDE RANGE OF APPLICATIONS OF DATA SCIENCE
The domain of data science in today’s era has broad stretching applications. The techniques and methodologies of data science are being utilized in almost each and every domain of human activity such as healthcare, agriculture, industry, commerce, Insurance, etc.
For example, The airline companies earlier used to struggle with maintaining their occupancy ratio and operating profits. With a hike in the air-fuel prices and offering heavy discounts to the customers made the situation even worse.
But since the time these companies have started using data science techniques and methodologies, it helps in catering the following benefits:
- a) Prediction of any delays in flights
- b) Taking the decisions regarding which class of airplanes to be bought
- c) Information regarding landing of flight, whether it will be landing directly at the destination or taking a halt in between
- d) Assists in effectively and efficiently handling customer reliability programs
The another best example which we utilize in our daily lives is the speech recognition feature. The GOOGLE VOICE feature, CORTANA assists you in simply speaking your message and then it will be automatically converted into text.
There are many other sectors such as Marketing, Finance, HR etc. Where data science has proven its ability to transform the functioning of the organization making it more efficient and effective.
These examples are enough to prove that how crucial and vital the data science has become in the life of a successful business. If the numbers and the patterns intrigue you then going for the BEST DATA SCIENCE COURSES IN INDIA is the best career option you can undergo.