Data Science
Data science is a domain that has come into the boom in the last 4- 5 years. It is an interdisciplinary field of study that focuses on retrieving valuable information from the vast amount of raw data using the concepts of statistics, mathematics, data visualization, machine learning, and business knowledge. Here, information means knowledge that can help any organization or person to make a decision. On the other hand, raw data is a collection of various parameters that do not carry any meaning.
Components
- Mathematics: This includes statistics. It is the set of methods for evaluating, interpreting, understanding, displaying, and making decisions based on data to obtain more meaningful results.
- Computer Science: This is the backbone of all the technical domains. It includes all the aspects of computers with a generalized approach.
- Business knowledge: As the name suggests, this is related to the organization or the business in which the professionals work. Without having the required knowledge of the product or system, it is a difficult task to analyze the behavior of the data generated.
Need
This information retrieved is used for making high-level decisions in an organization. Data Science enables organizations to efficiently understand the data from multiple sources that help business leaders to make decisions and derive valuable insights. These insights are nothing but the pattern or the behavior of the generated data.
Application
Data science has made it’s space in almost all the sectors. The data scientists work day and night to get more accurate results and improve the efficiency of the output in order to help in the respective domains. These domains include healthcare, military, self- driving cars, e-commerce websites, recommendation systems, finance sector for fraud detection and many more sectors. Whichever be the sector, the aim is to predict accurate results in order to get maximum profit as much as possible.
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Cheers,
Sumedha Zaware
