Data science and data analysis: importance and necessity

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

Businesses 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 build a model based on predictive haphazard analysis by which you can verify your past payback. records to find out if they have a history of late payment on any loans. Thus, you can know whether to lend them your valuable money or not.

Prescriptive analytics

This model can be used to make something that can make intelligent 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 has to be fed to the machine beforehand so that it thinks alike and makes the right decision. The best example of this model is Google Self Driving Car. As the name suggests, such a car can make decisions on its own about when to turn and when not to turn, and whether to turn left or right simply by knowing the location of the place through GPS 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 them. This is also a widely used model.

So the scope of data science is very wide and one can do a lot of research if one is really interested in it. It depends on the data scientist in which discipline in the field of data science he wants to specialize.