Data Science and Data Analytics – Importance and Need

Data science has revolutionized the world. We are all aware that there is something in data science that sets it apart and that it makes a data scientist one of the best jobs of the twenty-first century.

Importance of Data Science

Data science can be used by companies to manage and extract various data from large amounts of information. This can help companies produce better products and services for their customers by consistently analyzing their feedback and ratings. This helps different engineering firms and companies to improve themselves and make different business decisions.

Did you also know that data science can help you predict what the next scene of a movie or drama will be, or how people with different cultures and economic backgrounds will react to different things or even the future? Isn’t that surprising enough? Yes indeed!

Predictive Casual Analytics

This is now the most important form of analysis in data science. Let’s say you want to predict an outcome in the future. For example, if you are lending someone money and you want to know if they are repaying your money on time or not, you can come up with a model based on predictive loose analysis that allows you to check their previous cash back data to know if they have been in the past delayed the repayment of a loan. Therefore, you can know whether or not to borrow your valuable money.

Prescribing analysis

This model can be used to create something that can intelligently make its own decisions. For example, there are certain cases when you want to know whether to do something or not. In such cases, you can get help from such a model. It is clear that a computer cannot think independently. Therefore, some data must be sent to the machine in advance to make it think in a similar way and make the right decision. The best example of such a model is Google Self Driving Car. As the name implies, such a car can decide for itself when to turn and when not to turn, and whether to turn left or right by knowing the location of the place the passenger wants to go via GPS.

Machine learning for making predictions

Suppose you want to predict future trends of something, then this model may come in handy. This model is widely used by various companies around the world to study past trends and then predict the future accordingly.

Machine learning for predicting patterns

Suppose there is no specific parameter on which you need to extract the data. Then, with this model, you can train a computer to look for different repeating patterns in data and get something meaningful out of it. This is also a widely used model.

Therefore, the scope of data science is very large and one can do a lot of research if one is really interested in it. It is up to the data scientist in which discipline in the field of data science he wants to specialize.