There is a lot of uproar in the market about data science, and I’m sure you too must have heard about it. Experts believe that data science is the most fruitful career opportunity one can have in this modern era. In this article, we will cover the basics of data science and the work one has to do as a data scientist.
What is Data Science?
It is basically developing methods of storing and analyzing data to extract valuable insights. The ultimate goal of data science is to obtain information from any type of data and those insights will further help the organization to make better decisions. In turn, improving the growth and market share of a company.
Most people have a misconception that data science is a programming language. It is a technology that requires three key ingredients: the first ingredient being domain knowledge, the second ingredient being statistics, and probability, and the third ingredient being programming skills.
Let us understand the concept of data science with an example.
Suppose, you own a liquor store, and the sale is remarkably higher on Saturdays and Sundays. So with the help of data science, we can find out the reason behind it. We will collect the data regarding customers and analyze it to find out why they prefer to booze on Saturdays and Sundays.
This was just a simple example but in reality, data science is applied in almost all the big organizations before they make any critical decision.
Who is a Data Scientist?
To put it in simple words, the Data scientist is an expert who practices Data Science. They crack the complex data using their technical and non-technical skills, various methodologies, and algorithms to drive out valid conclusions. So, the management can make decisions backed with data.
What does a data scientist do?
Data scientists have to work closely with management and stakeholders to get a knack of their goals and determine how data can be used to achieve those goals.