What Exactly Is Data Science?

What Exactly Is Data Science?

Data Science is an interdisciplinary field that employs various mathematical and scientific techniques, algorithms, systems and algorithms to extract insights and knowledge from large unstructured and structured data sets. Data Science is related to Machine Learning, Data Mining and Statistical Analysis. With the help of Data Science, quantitative or qualitative information is extracted from large and often unstructured sources of data using various computing technologies such as linear algebra, mathematical calculus, neural networks, probabilistic programming, formal language, graph theory, optimization and statistics.

The prime focus of Data Science is to extract the information from Big Data & to convert this information into actionable insights. The role of Data Science isn’t just limited to analyzing data it is also being used for Predictive Analytics, Forecasting, Decision Making, Product Development, Manufacturing and Marketing, and research. Data Science is also used for social impact analysis, customer relationship management and social network analysis.

Applications Of Data Science:

Data Science has many applications. It has been used to create statistical models that help forecast weather, stock market and the environment. Data Science has also been applied to the study of disease, diagnosis, medical imaging, drug discovery and treatments, as well as the analysis and management of healthcare. Data Science also helps companies improve their customer relations through the production of more accurate data analysis.

Benefits Of Data Science In The Field Of Business:

With data having become the new oil that fuels the business development process, Data Science has become the need of the hour for the enterprises in the business sector. The use of Data Science can empower the enterprises business intelligence process. As most of the enterprises these days have large reserves of Big Data, they can achieve numerous benefits with the application of Data Science like

• Accurate Demand Forecasting
• Accurate Data-Driven Smart Decisions
• Increased Productivity & Revenue
• Predict The Changes In The Market Trends & Customer Interests
• Accurate Threat Detection
• Enhanced Marketing Campaigns For Improved ROI

The Rise Demand For Data Science Experts:

With the rising prominence for Data Science, the demand for the skilled & certified Data Science professionals is skyrocketing. Data Scientist, Data Analyst, Big Data Engineer, Machine Learning Engineer are among the most in-demand job-roles in Data Science. Let’s a look at the exclusive salary packages of different job-roles in this field

• Data Scientist $85,000-$170,000
• Data Analyst $50,000-$75,000
• Data Science/Analytics Manager $90,000-$140,000
• Big Data Engineer $70,000-$115,000

Salaries offered to skilled experts in Data Science by the top companies:

• Google: $152,856
• Apple: $145,974
• Twitter: $135,360
• Facebook: $134,715
• PayPal: $132,909
• Airbnb: $127,852
• Microsoft: $123,328

These figures clearly state that Data Science professionals are among the highest paid professionals in the present age of Big Data.

How To Get Certified in Data Science?

Currently, a number of training institutes are offering certification based training programs in Data Science. Data Science Training in Hyderabad program which is offered by Analytics Path is a platform to leverage in-depth knowledge of Data Science & to build real-world skills in the Data Science industry.

There is going to be a huge requirement for the skilled experts in Machine Learning techniques and most of the companies are ready to pay very high pay packages.