What is Data Science?
Data Science is the process of preparing data for analysis in a machine learning model. While scientists and researchers first started data science decades ago, it is now the hottest job sector. Data science is rapidly emerging as a critical component of practically any business. The amount of data that humans generate is ever-increasing, and so is the need for data scientists to analyse that data.
By the end of 2021, about 2.7 billion Americans will be online, and by 2023, that number is expected to increase to 3.3 billion. Internet usage is on the rise and companies are recognizing the need to analyze the massive amounts of data that is produced each day.
The Importance of Data Science
Data analysis is integral to nearly every function in business today, from understanding markets to forecasting to product development. But the area of data science has become so hot in recent years that even basic business analysts can turn to it for insights.
"Data science is data science," says Venkatraman Subramanian, who was recently named a Forbes 30 Under 30 in Data Science. "It's no longer just about modelling models and predicting results. Now the problem has become about understanding and making sense of what we have.
There are many online training platforms to learn Data Science course.
Why You Need It
Think of every social media network. Any time you post something to them, you are working with a bunch of data that needs to be organized into something meaningful. When you use Google Analytics, you are collecting data on your website, and all of the website data is a collection of data. No matter how effective you are at putting it into a useful format, however, all of that data still needs to be processed in order to come up with your understanding of how you are performing and where you need to improve.
But this is not the main reason why you need to have a data scientist on your team. Sure, it’s a key skill. But it’s not the only one. You need a whole team of data scientists to be able to extract value from your data. And to do that, you need to have a data scientist on your team.
Conclusion:
Data Science: What It Is and Why You Need It
We live in a world of information, and the growing amount of available data is changing how business is conducted. Predictive analytics and machine learning algorithms can help businesses use data to take a deeper look at the customer's and prospects' wants and needs. But they're also expanding the potential for emerging data scientists. Read this article to learn how data science is becoming a career path, not just a field for engineers.This article is part of a series called 101 Resources for Data Scientists.
