Data Science is not a new term now. It is a field of study responsible for the crazy growth of companies. This blog will cover everything to know and kick start your career in Data Science. So let’s start with a simple example to understand Data Science.
Data Science Simply Explained
In a nutshell, that is all data science is about. Let’s take an example to understand how companies are using Data Science to make better decisions.
Imagine you work in an automotive company and it has created three kinds of models:
Comfortable cars(CC)
Low budget cars(LBC)
Luxury Cars(LC)
Now your company wants to open a showroom in every city. But the problem is you don’t know what kind of car sells in a particular city.
How to Solve this Problem (NOOB Way ? )
Now you will go to the CEO of your company with the list of all cities and he says I have been to this city and I have seen many low budget cars .So open a showroom with low-budget cars there and this is how he took the decision. Well, you were not agreeing with his point still you went for what he said. You opened showrooms in every city based on one-person decisions.
But it was a major flop. And Company faced a major loss. But Why?
Because you cannot take decisions for mass-audience based on :
Personal Experience
Opinions
Intuitions
This is where Data Science Comes.
How to solve this problem(Data Science Way.)
Nowadays not even a single company values opinions unless they are facts. Now this time you will go with the list of cities to the analytics team of Data Analysts, Business Analysts, Data Scientists. And they will ask for the data of each city and they will analyze it and come up with much meaningful information like :
City A has 60 percent of Comfortable cars.
City B has 73 percent of low budget cars
City C has 56 percent of comfortable cars and the trend is going toward luxury cars.
Now, these are facts and tell so much about each city and its trends. Not only do analysts give information on what was in the data but also predicted.
This helped in Companies growth by supporting major pillar-like:
Improving Sales
Cost-Cutting
Customer Satisfaction
What is Data Science ?
Data science is the field of study that combines domain expertise, programming skills, and knowledge of mathematics and statistics to extract meaningful insights from data.
Salary of a Data Scientists
According to Glassdoor, the Average Base Pay in India for Data Scientists is very high.
Not only this, Data scientists are welcomed with both hands in any sector that you imagine. Go through this blog from naukri.com to know that Data scientists are in every field, sector, industries. That makes data science much cooler.
How to Become a Data Scientist:
Domain Expertise: Precise and accurate problem definition is critical for the overall success of a data analysis project. Domain knowledge can often help us reach this precision and accuracy. For example, if we want to build a recommender system for an e-commerce platform, we need to understand how users browse online stores.
Technical Skills: Having Domain expertise is not enough. You must have technical skills to become a full-fledged Data Scientist. You can go through our Skillset PDF from here.
Future Of Data Science
An article in Harvard Business Review once called being a data scientist “the sexiest job of the 21st century.” So what does one have to do to earn that title?
Data Science is everywhere, Be it Artificial Intelligence, Machine learning. In upcoming years Demand for Data Scientists is only rising. Begin your Journey with us to secure your first job as a data analyst . Go through our Courses through here : Masters in Datascience with Power BI | Console Flare