what is Introduction to Data Science and Its Impact? Beállítások

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what is Introduction to Data Science and Its Impact?

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With the changing of an era the need for data storage is also increasing because of the emergence of
bigger amounts of new data. Data Science is a mixture of the tools, machine learning principles and
algorithms whose main aim is to analyze raw data and discover hidden patterns therein. Data
analysis includes not only exploratory analysis of data, but also several advanced forms of algorithms
to predict the occurrence of some particular events. Factors which were not known earlier will also
be looked into with the help of Data Science.
Why is Data Science needed?
Earlier we used to have small-sized and structured data that could easily be analyzed with simple BI
tools. Nowadays, however, the form of data has changed drastically from structured to semi-
structured or even unstructured. The collected data usually comes from various sources such as
multimedia forms, instruments, financial logs, sensors and text files. The extremely vast volume of
data cannot be analyzed by simple BI tools, but more analytical, advanced and complex tools and
algorithms are now required to process and analyze the data and draw insights from it. Data Science
is also needed to satisfy the needs and requirements of a company’s customers. With the help of
Data Science, a company can determine the needs of their customers as indicated by their browsing
history, income, purchasing history, age, etc. With the advanced data technology afforded by Data
Science, a company can sell the perfect product matching all the requirements of a particular
customer. Data Science can also help in weather forecasting and in predictive analytics by collecting
data from radars, ships, satellites and aircraft and analyzing it to predict the occurrence of weather
disturbances and natural calamities, thus helping prevent the loss of lives as precautions can be
taken.
What are the benefits of Data Science?
The main benefit of data science is its ability to facilitate decision-making. With the help of Data
Science, data scientists can make decisions based on reliable and up-to-date information and facts.
This will in turn lead to an organization’s increased operational efficiency and profitability, as well as
improved workflow and business performance. Data Science can also help an organization ascertain
the requirements of its target audience so that the products can be customized accordingly. Data
Science can also benefit the recruitment process involving processing of applicants and aptitude
tests, thus helping the human resource management and administration speed up their work in the
selection and hiring procedure. Data Science can help different departments differently. Sales and
marketing departments can take advantage of Data Science in fulfilling the expectations of the
customers. Data Science can help banking institutions by detecting frauds and thefts, streaming
services collect the interest of their users and show them movies and series accordingly. Shipment
companies take help of data science by determining the routes and timings for the delivery to be
fast and efficient.