The Importance Of Data Science

To put away Data Science in a simple sentence: It is the study of where information comes from, what it represents and how it can be turned into a valuable source in the establishment of business and IT approaches.

In the last decade, Data Science has silently grown to include businesses and organizations world-wide. It is now being used by governments for research and analytics, geneticists, astronomers, engineers as well as for the entrepreneurs.

Technically, this includes robotics, machine translation, scientific researches, speech recognition, the digital economy, and search engines and many more. In research areas, Data Science has expanded to include the biological and social sciences, health care, medical informatics plus the humanities.

Importance of Data Science

We need to look at a series of emerging trends that give importance to data science.

First, Data analytics, the trend of applying data science's practices and tools in the business world.

Second, Internet of things (IOT), the trend of connecting devices and sensors via the cloud, which is generating massive streams of data to be analyzed.

Third, Big data, a trend of creating tools and systems able to store and process these enormous data sets at scale.

Fourth, Machine learning, a trend in artificial intelligence of teaching machines to solve problems without explicitly being programmed to so. Machines able to make decisions and predications all by identifying statistical patterns in these massive data sets.

All four of these trends are converging to create fully-autonomous, intelligent systems, machines capable of acting rationally within their environment, and learning how to optimize their performance over time without any human

Given this trend, it's unlikely that the demand for data science will decrease any time in the near future.

Advantages of Data Science

Data Science can have innumerable advantages. It can be used as a powerful tool in decision making.

Data science gives data data-based evidence to accept or reject any business decision. It can increase profits and identify potential risks before they actually occur. It can identify potential customers and also provide solutions to otherwise error prone and difficult tasks.

Depending on the company’s goal and industry the specific benefits of data science vary.

Applications of data science include mining data by banking sectors to detect frauds and potential defaulters. The Streaming services like Netflix can use them to create personalized recommendations to viewers. Telecom companies can use data science to offer certain offers to the users based on the interests of the users. Shipping companies can use them to find the best delivery