Data science and data analysis: importance and need

Data science has revolutionized the world. We are all aware that there is something about data science that sets it apart and makes being a data scientist one of the best jobs of the 21st century.

Importance of data science

Companies can use data science to manage and extract various data from large data sets. This can help companies produce better products and services for their customers by constantly analyzing their comments and reviews. This helps various engineering and business companies to improve and make various business decisions.

Also, did you know that data science can help you predict what the next scene in a movie or drama will be, or how people from different cultures and economic backgrounds will respond to different things, or even the future? Isn’t that amazing enough? Yes indeed it is!

Informal predictive analytics

Now, this is the most important type of analysis in data science. Suppose you want to predict an outcome in the future. For example, if you are lending someone money and you want to know if they will pay you back on time or not, just to be sure, you can design a model based on predictive casual analytics by which you can check your past money back. records to see if they have a history of late payment of a loan. Thus, you can know whether to lend them your precious money or not.

prescriptive analytics

This model can be used to make something that can intelligently make decisions on its own. For example, there are certain cases where you want to know whether or not you should do something. During such cases, you can get help from such a model. Obviously, a computer cannot think for itself. Therefore, some data must be fed to the machine beforehand so that it thinks in a similar way and makes the appropriate decision. The best example of this model is the Google Self Driving Car. As its name implies, such a car can make decisions for itself about when to turn and when not to turn left or right simply by knowing the location. of the place through GPS to where the passenger wants to go.

Machine learning to make predictions

Suppose you want to predict the future trends of something, then this model can be useful. This model is widely used by various companies across the globe to study past trends and then predict the future accordingly.

Machine learning to predict patterns

Assume that there is no particular parameter on which you have to extract the data. Then, using this model, you can train a computer to look for various repeating patterns in the data and extract something meaningful from it. This is also a widely used model.

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