Intro To Data Science
Data science is the field of study that combines domain expertise, programming skills, and knowledge of mathematics and statistics to extract meaningful insights from data. In turn, these systems generate insights which analysts and business users can translate into tangible business value.
Data Science is an interdisciplinary field that allows you to extract knowledge from structured or unstructured data .
Data science is being used across Different Industries
7 Industries That Benefits the Most From Data Science :
Data science has been effective in tackling many real-world problems and is being increasingly adopted across industries to power more intelligent and better-informed decision-making. With the increased use of computers for day-to-day business and personal operations, there is a demand for intelligent machines, can learn human behavior and work patterns. This brings Data science and big data analytics to the forefront.
1. Retail :
Retailers need to correctly anticipate what their customers want and then provide those things. If they don’t do this, they will likely be left behind the competition. Big data and analytics provide retailers the insights they need to keep their customers happy and returning to their stores.
2.Medicine:
Data Scientists Can help Predict the Outcomes of diseases from the Given Historical Data of the Patients with Data Science.
3.Banking & Finance :
Banks Can Manage their Resources Efficiently and Make Smarted decisions through Fraud Detection and Understand the Customers Banking habits and suggest relevant financial advice at appropriate times.
4.Transportation:
There is always a need for people to reach their destinations on time and data science and analytics can be used by transportation providers, both public and private, to increase the chances of successful journeys. For instance, Transport for London uses statistical data to map customer journeys, manage unexpected circumstances, and provide people with personalized transport details.
5. Construction:
It is no surprise that construction companies are beginning to embrace data science and analytics in a big way. Construction companies track everything from the average time needed to complete tasks to materials-based expenses and everything in between. Big data is now being used in a big way in the construction industry to drive better decision-making.
6. Communications, Media, and Entertainment:
Consumers now expect rich media in different formats as and when they want it on a variety of devices. Collecting, analyzing, and utilizing these consumer insights is now a challenge that data science is stepping in to tackle. Data science is being used to leverage social media and mobile content and understand real-time, media content usage patterns. With data science techniques, companies can better create content for different target audiences, measure content performance, and recommend on-demand content. For example, Spotify, the on-demand music streaming service, uses Hadoop big data analytics to collect and analyze data from its millions of users to provide better music recommendations to individual users.
7. Education:
One challenge in the education industry where data science and analytics can help is to incorporate data from different vendors and sources and use them on platforms not designed for varying data. For example, the University of Tasmania with over 26,000 students has developed a learning and management system that can track when a student logs into the system, the overall progress of the student, and how much time is spent on different pages, among other things. Big data can also be used to measure teachers’ effectiveness by fine-tuning teachers’ performance by measuring against subject matter, student numbers, student aspirations, student demographics, and many other variables.