Data Science Tutorial for You
What is Data Science?
Data Science Explained in Simple Words:
According to wikipedia Data Science is a process of extracting knowledge and insights from structured or unstructured data by using scientific methods, processes, algorithms and systems and apply these knowledge and insights from a data set to a broad range of application domain to make decisions solve the problems.
To get meaningful and actionable insights from data sets various techniques and theories are used these are mathematics, statistics, computer science, information science and knowledge domain.
Data science include various phases to understand the data sets and application domain. These phases are,
- Formulating data science problem
- Analysing data
- Developing data driven solutions
- Presenting findings to make decisions in wide range of application domain.
- Computer and information science
- Statistics and mathematics
- Graphic design and information visualization
Data is coming from various sectors, fields, channels and platforms such as,
- Social media
- E-commerce sites
- Cell phones
- Health care survey's
- Internet searches
- Logistics and supply chain
- Share market
- Sales and forecasting
- Manufacturing and production
- Agriculture
- Politics
- Sales and marketing
- Weather forecast and many more
Why We Need Data Science :
The main fundamental goal of data science is to help application domains to make quicker and better decisions.
Variety of raw data which is in the form of tables, text files, audio video files, image files, machine or radio waves are comming from various channels should be formulated to get the meaningful insights for better decisions to run business domain smooth.
For present business management and for future predictions data science is very important.
Let's take an example to understand why data science is important,
Suppose you are new in share market. You want to invest some money in to form of shares. Money is very important to us. So nobody will invest money for losses. Now what you will do before invest in share market?.
You will research for all share companies about its reputation, financial fundamentals, companies capital turn over, how much company has returned to the share holders, last one year performance, last six months performance, last three months performance, which company is frequently gainer and looser, which has given dividend to its share holders, which is performing best by volume and by price. These all questions gives you right answers i.e. meaningful insights to select a better performing company to invest your money in share market.
This is why the data science is important in every field. This is why data science is most demanding field for data scientist.
Written by,
Dr.Manisha Patil - More
Whatsapp - 9511775185
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