Data science always deals with real-world complexity and it is also a kind of emerging technology of this era. Nowadays unimaginable data are produced. What can be done with all this data? Proper analysis of all this data improves business and will also increase profit.
We all know that the internet of things makes each and everyone’s life easier. An immeasurable amount of data is generated from different social media to the IoT devices.
Example: Uber provides cab service according to the customer requirements.
Nowadays most people are using Uber for transportation. Why uber is convenient and what makes them so rich in this era?
As we all know uber is a very successful company. it is a very successful company not only because of their availability of cabs or their service. Then what makes them so successful. The answer to this question is so simple “Data make them very successful “ that doesn’t mean that data is not only enough to grow a business. But use data efficiently which means we should know how to utilize data to draw useful insights in order to solve problems and this is where the role of data science comes.
Data science is the process that is used to extract meaningful insights from data or find out the hidden patterns within a data or to identify the problems from the data which is used to improve the business.
Data science is all about using data to create an impact for the company in order to grow its business. Patterns within the data find out using data science. Different types of statistical techniques are used in order to analyze and draw insights from the data.
Each and every company needs very skilled data scientists in order to analyze and process data. Their aim is not only to analyze data but also to improve the quality of data. Data scientists mainly solve real company problems using data. Many companies like apple, google, Facebook, and Amazon uses data science to improve their products and it helps the company to grow their business. These companies will appoint skilled data scientists who will analyze the data and uses those data to improve their business.
If we want to bring a change in a business, first we have to analyze the data which is generated. As we all know immeasurable data is generated each and every second. These generated data may contain use full insights, values, knowledge, etc. These useful insights, values, and patterns are extracted from the data using different techniques. Hence it helps the data scientist to create a change in the business and help them to take care of full decisions.
We need data science because of the big data explosion . for example different social media is producing a big amount of data each second. Millions and millions of emails are sent, people are watching and viewing more than 20 million videos, photo views are more than that, millions of search queries, and many downloads these all are happening at the same time over the internet.
All these data are useful but we should make use of these data efficiently. We can't even imagine the size of data and here is the need for data science. There will be a lot of useful insights and these insights are extracted from the data using data science techniques by the data scientists.
Many organizations are using data science to improve their business.
For example, Google and Netflix
There are plenty of applications for data science. Some important applications of data science are given below.
Bad debts and losses create a lot of problems within the banking companies. Some customers may not able to repay their loans on time due to their unstable financial stability. This will create a big loss for the company. The solution to the problem is applying data science. Before sanctioning loans their personal details, their income details everything is collected, using these data skilled data scientists can dig out the useful insights which help the company to prevent losses.
There are many online search engines like yahoo, google, AOL, etc. These search engines provide answers to our queries within seconds. Data science algorithms are used by search engines in order to give results in seconds.
In most online motion games, we are competing with the computer. We may always wonder how we lose and computer wins all the time. It is because in computer games they are applying data science where our opponent that means the computer always knows our previous moves. a skilled data scientists always analyze that and design the game according to that.
Genetic issues and reactions to particular drugs can be identified. It can be identified using data science techniques. If a person's personal genome data is obtained a detailed study on human DNA can be done which helps to predict the risks and individual attention can be given.it also helps in medical image analysis.
Targeted advertisements are given for particular users. It is completely based on their past behavior. A detailed study is done on each and every user's past behavior.
Different types of business are there in our society. So data science can be used to identify the business patterns, to analyze and to extract useful information’s which will help to improve business.
For monitoring the systems, detecting anomalies, for predicting the problems data science can be used.
