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What Is Data Science & Where It Is Used? Learn Here

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Jagpreet

19 June, 2024

What Is Data Science & Where It Is Used? Learn Here

Introduction

Have you ever wondered how Edison invented the bulb, Homi J. Bhabha invented Bhabha Scattering, and Marie Curie discovered radioactivity? Remember when the world saw the first glimpse of the black hole—Cygnus X-1 in 2019? This massive project demanded the use of five thousand terabytes of data.

The common link trying to be established is how they all relied on two of the most important sources- Data and Science. Science gave life to their inventions and discoveries, but Data set the foundation. A million other discoveries and inventions have involved the exceptional use of data to bring the world to where it is today. Data is incredibly significant. This is true for inventions or discoveries and even for our day-to-day operations. Suppose a Business in any industry needs to understand its consumer base, customer repeat value, popular choices, and stock information. In that case, it needs to rely on the data without fail! 

Data guides our decisions in monetary and non-monetary matters. It involves a meticulous eye for minute details that make our decisions easy. When data and science come together, they bring us the necessary results. 

Understanding Data Science: Fundamentals

If you find the same old quintessential method of explaining monotonous, let me help you understand it by baking a cake!. Let us break Data Science down for you to understand:

  • Getting together what we need: The first step involves getting together all you need. This means the data, which involves numbers and facts. You can also represent the numbers in a graphical format, also called infographics. This step is a collection of the most important aspects of data that build it—just like the ingredients of a cake!

  • Detailing: Have you ever tried your hands on Baking? Well, if you have, you would know the detail it demands.  You would ensure that all your ingredients are fresh to use. Similarly, data needs to be cleaned. This process involves the removal of errors and bugs that keep the data from being judicially utilised. So you ensure that the data is arranged in the right format. 

  • Mixing: You mix the ingredients of the cake to bind them well. Similarly, this step involves analysing the data. Data analysis can be understood as looking out for patterns, trends, and the necessary insights. You combine the important information to see if they mix well.

  • Time for the output: The process can be cumbersome, but here we are! This is the step of data science where mathematics and statistics are required. These are the building blocks of data. These also play a role in building models that help us make our decisions. To build such a capable model, you would need precision and a detailed understanding of the subjects. 

  • Cherry on the cake: What is a cake without some icing? So, once the cake is out of the oven, you can decorate it and make it appear pleasing to the eye. A cake with minimum decor would look beautiful and simple. Similarly, data that is a consolidated form of charts, graphs, and reports will also appear easy and appealing to the user. The putting together of data might be complicated. Still, the final result has to be simplified so that you can communicate your findings hassle-free for people to understand. 

In a nutshell, data science is similar to baking a cake, where you prepare your ingredients-data, mix them well- analyse, bake them-model and decorate before you serve it fresh- communication. 

Data science is put to use when we solve our problems and make our decisions. The essence of data science lies in combining the skills from computer science, statistics, and domain knowledge. These factors transform the raw data into meaningful results that help organisations make informed decisions.

Where Is Data Science Used?

Data science as a field is incredibly demanding for its potential to transform and ease the otherwise cumbersome decision-making process. It is, for its potential, put to heavy use in various industries, let us understand better an industry– wise-

  1. Businesses: Companies use data science for market research, customer segmentation, product recommendations, and supply chain optimisation. They also consider expansion, which requires extensive research and data-driven insights to make a more secure decision. 

  2. Healthcare: The year when COVID broke out, the entire world was occupied with discovering the sources of this biological attack. Nations came together to understand how this can potentially harm humans, its timeline, how long it will be there, and what possible variants can hurt us. In such a case, data science is put to use. Data science is used for disease prediction, patient diagnosis, personalised medicine, and healthcare management.

  3. Finance: Data gives the most accurate insight, no matter which finance-related concern.  In finance, data science is used for fraud detection, risk management, algorithmic trading, and customer analytics. Years ago, when India was introduced to a line of scams that broke the Indian markets, it realised the necessity to advance with technological advancements in determining the potential risks involved and how to tackle them with utmost efficiency. Henceforth, data science is one of the most dependable ways to achieve that purpose.

  4. Marketing and Advertising: Data science helps in targeted advertising, customer profiling, campaign optimisation, and social media analytics. Marketing needs consumer data and popular choices. Recent trends and the most exciting factors are the true representation of consumer markets. Therefore, data science appropriately brings to us that information.

  5. Governance and Public Policy: In the field of governance and public policy, it is integral to utilise data science. This helps in understanding the needs and demands of the public on the ground level. Further, this guides the decision-making process, such as drafting policies to address those needs and the resource distribution process. In a way, technology makes it much easier to reach the maximum number of beneficiaries in such a massive democracy.

  6. Sports: Data science is used in performance analysis, player evaluation, and game strategy optimisation. This helps in understanding the strengths and weaknesses of the game and its players, making it easy to plan the game. 

What Do You Study In Data Science?

Data Science Topics 
Spatial Sciences Statistical Interference Probability
DB Management Liner Algebra Linear Regression
Business Intelligence Big Data Data Structures
Data Engineering EDA Data Warehousing
Artificial Intelligence Cloud Computing Data Visualisation
Machine Learning Data Mining Programming Languages
  • Statistics & Probability: A strong grasp of statistics and probability forms the foundation of data science. Ultimately, data is developed and used to make useful predictions by understanding the calculated risks involved. In this case, it helps the data scientists and analysts create a seamless database with the efficiency to make our decisions.

  • Programming: Languages such as Python and Java are used for programming. Data scientists use these languages to build a detailed and comprehensive data science model. They also use algorithms and principles to design the database to increase its efficiency. 

  • Machine Learning: Machine learning can be understood as a part of artificial intelligence, where it is built to imitate humans and their intelligence while making decisions or performing the same tasks as us. Key subjects cover supervised learning regression and classification, unsupervised learning clustering, dimensionality reduction, neural networks, deep learning, reinforcement learning, and the real-world application of these techniques.

What Is The Career Scope For Data Scientist?

Data Science holds a wide scope. It is an extremely demanding opportunity for those who enjoy working with numbers. As a profession, we do not predict it as a replaceable field by the speedily growing technology. Instead, data science and technology work best when they collaborate. Here are some career opportunities you can explore if you wish to enter the world of data science. 

Career Opportunities  PayScale 
Data Analyst  ₹6,32,000 per year 
Statistical Analyst  ₹9,10,000 per year
Computer Systems Analyst  ₹9,30,155 per year
Database Administrator  ₹8,50,000 per year
Data Scientist  ₹14,05,000 per year
Machine Learning Engineer  ₹17,50,000 per year 

Here Are Colleges In India That Offer Data Science Courses 

Here is a list of colleges or universities that offer data science and related courses. 

Colleges  Fee
Amity University  INR 80,500 per semester 
Indian Institute of Management Bangalore INR 7,25,000 programme fees
Manipal Academy of Higher Education INR 3,98,000 total fees
Coimbatore Institute of Technology INR 78,400 programme fees 
IIT Roorkee INR 70,053 programme fees

Key Takeaways

Careers in data science offer various opportunities across various industries, promising diversity and fulfilment. It is undoubtedly an exciting career opportunity with credible growth and incredible results. Professionals in this field leverage their analytical and technical acumen to glean insights from data, guide decision-making processes, and tackle intricate challenges. 

Challenges from every industry have posed a threat to the human race. Be it the health industry, where COVID disrupted our lives beyond our imagination, or the technological wave through Artificial Intelligence that took the world by storm. Data is solely driving the decisions we make. These decisions are in and against our favour. 

People today believe in the prediction of numbers, and given the growing reliance on data-centric approaches, data scientists are highly sought after in sectors such as technology, healthcare, finance, and e-commerce. Career paths in data science encompass roles like data analyst, data engineer, machine learning engineer, and data scientist, each demanding a distinct skill set encompassing data manipulation, statistical analysis, machine learning, and programming. 

Data Science is known for its accuracy. India is growing steadily and welcoming new technologies, markets, and trends. It comes with its fair share of challenges, but what makes it simpler is the viability of data science. The field also presents ample prospects for professional advancement, allowing individuals to specialise in areas such as natural language processing, computer vision, and big data analytics, thereby ensuring an engaging and ever-evolving career trajectory.

At the end of the day, it depends on humans in terms of how much we are capable of achieving and extracting from the technology we are given. Whether or not to optimise, it is ultimately in our hands.

FAQs

Q.1: Why is data science useful? 

A.1 Data scientists collaborate with analysts and businesses to translate data insights into actionable strategies. They utilise diagrams, graphs, and charts to visualise trends and forecasts. Summarising data aids stakeholders in comprehending and implementing outcomes efficiently.

Q.2: What is the future of data science? 

A.2 Data Science is a promising field that can impact the coming years and generations. By 2025, it is predicted that there will be 180 zettabytes of data globally. That is an impressively massive figure, proof of how much this industry will be glorified. 

Q.3: Who is the father of data science?

A.3 William S. Cleveland is sometimes credited with establishing the modern concept of data science as a distinct field.

Q.4: What are the three top uses of data science? 

A.4 

  • Analysis

  • Prediction

  • Optimization

Q.5: Where is data science used?

A.5 Data science is being increasingly used in several industries, such as:

  • Technology

  • Healthcare

  • Finance

  • E-commerce

  • Marketing

  • Education

  • Government

  • Sports


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