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Data Science

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Data Science

Uploaded by

Taxi
Copyright
© © All Rights Reserved
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Data Science

What Is Data Science?


Data science can be defined as a blend of mathematics, business acumen,
tools, algorithms and machine learning techniques, all of which help us in
finding out the hidden insights or patterns from raw data which can be of
major use in the formation of big business decisions.
In data science, one deals with both structured and unstructured data. The
algorithms also involve predictive analytics in them. Thus, data science is all
about the present and future. That is, finding out the trends based on historical
data which can be useful for present decisions and finding patterns which can
be modeled and can be used for predictions to see what things may look like
in the future.
Data Science is an amalgamation of Statistics, Tools and Business knowledge.
So, it becomes imperative for a Data Scientist to have good knowledge and
understanding of these.
Why to Learn Data Science?
With the amount of data that is being generated and the evolution in the field of
Analytics, Data Science has turned out to be a necessity for companies. To make
most out of their data, companies from all domains, be it Finance, Marketing,
Retail, IT or Bank. All are looking for Data Scientists. This has led to a huge
demand for Data Scientists all over the globe. With the kind of salary that a
company has to offer and IBM is declaring it as trending job of 21st century, it is a
lucrative job for many. This field is such that anyone from any background can
make a career as a Data Scientist.uh
Components of Data Science:
Machine Learning: Machine Learning involves algorithms and mathematical
models, chiefly employed to make machines learn and prepare them to adapt to
everyday advancements. For example, these days, time series forecasting is very
much in use in trading and financial systems. In this, based on historical data
patterns, the machine can predict the outcomes for the future months or years.
This is an application of machine learning.

Business Intelligence: Each business has and produces too much data every day.
This data when analyzed carefully and then presented in visual reports involving
graphs, can bring good decision making to life. This can help the management in
taking the best decision after carefully delving into patterns and details the reports
bring to life.
Topics:
 Python coding: Python is majorly preferred to implement mathematical models
and concepts because python has rich libraries/packages to build and deploy
models.
 Searborn, Matplotlib, Pandas
 Machine Learning Structure and Unstructured Algorithm
Techniques:
 Mathematical Expertise: Data scientists also work on machine learning
algorithms such as regression, clustering, time series etc which require a very high
amount of mathematical knowledge since they themselves are based on
mathematical algorithms.
 Working with unstructured data: Since most of the data produced every day, in
the form of images, comments, tweets, search history etc is unstructured; it is a
very useful skill in today’s market to know how to convert this unstructured into a
structured form and then working with them.

Business Understanding:

 Business Acumen: Analytics Professionals come in the mid-management to high-


management in the hierarchy. So, having business knowledge comes as a big
requirement for them.

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