Let’s Understand Why We Need Data Science

2020, Feb 08    

Traditionally, the data that we had was mostly structured and small in size, which could be analyzed by using the simple BI tools. Unlike data in the traditional systems which was mostly structured, today most of the data is unstructured or semi-structured. Let’s have a look at the data trends in the image given below which shows that by 2020, more than 80 % of the data will be unstructured.

Use of the term Data Science is increasingly common_,_ but what does it exactly mean? What skills do you need to become Data Scientist? What is the difference between BI and Data Science? How are decisions and predictions made in Data Science? These are some of the questions that will be answered further.

First, let’s see what is Data Science. Data Science is a blend of various tools, algorithms, and machine learning principles with the goal to discover hidden patterns from the raw data. How is this different from what statisticians have been doing for years?

The answer lies in the difference between explaining and predicting.

Data Science has dominated almost all the industries of the world today. There is no industry in the world today that does not use data. As such, data science has become fuel for industries. There are various industries like banking, finance, manufacturing, transport, e-commerce, education, etc. that use data science. As a result, there are several Data Science Applications related to it. In this article, we will see how data science has transformed the world today. We will see how it has been revolutionizing the way we perceive data. In the end, we will discuss various circumstances where data is used to make industries better.