Data Science Overview

Technology, though it hit the market many years ago, developed and multiplied exponentially at a startling rate only in the last few decades. Various applications and other products being launched regularly have increased their consumption by the masses. Such a use, by almost all the world, has brought data barrelling into servers of incompatible capacity. And this piled-up data needs to be sorted, structured and analyzed to attain useful business results. That’s what data science does.

Data Science Overview- Table of Content

Data Science is the study of the combined application of concepts like Mathematics, Computer Science, Business Administration, Analysis, Statistics, Programming, and other technical knowledge to lead businesses to a pinnacle. 

What is data science?

Data science is the science of sorting, processing, and extracting data from multiple sources and applying statistics, algorithms, and analysis to transform the data into meaningful insights.

Since its evolution in the 1960s, data science has helped businessmen realize the value of data in growing businesses by tapping into the voluminous data collecting dust in the servers. Data science has helped file the task of sorting, structuring, analyzing, and suggesting improvizations in business tactics and strategies all under one head - Data Scientist. 

A Data Scientist peruses this data, cultivates business acumen, and offers insights and constructive criticism on the performance of a business or a company while simultaneously making use of the abundant data available for further advancements like Machine Learning, AI (Artificial Intelligence), and cybersecurity.

Why has this Technology evolved? 

John Tukey, William Cleveland, and Leo Breiman are said to be the fathers of data science. They identified the need for merging statistics, data, and analysis to introduce a new field of science called Data Science to make use of the information and deduce from it beneficial results. Earlier statisticians believed that data could be transformed into information and knowledge, whereas the world saw only unimportant figures and algorithms. 

Data science has come a long way from just numbers, expressions, and traditional statistics. The evolution of data science brought into the spotlight its many benefits to advance towards the future i.e., artificially intelligent technology and smart systems to make life simpler, and satisfactory.

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Data science lifecycle

Producing & Manufacturing

As shown in the lifecycle picture above, data science involves, firstly, a good business understanding. 

Business understanding: 

Meaning, that a data scientist must understand the needs of a business that will advance it, and accordingly, search for trends, and patterns, and perform statistics and analysis to discover new business potential. 

Data mining:

Data mining involves accessing databases, data warehouses, and extraction from other similar sources to gather required data in one place and apply ML (Machine Learning) algorithms to it for processing datasets.

Data cleaning: 

After data is mined, it needs to be cleaned or sorted by removing errors such as incorrect data, wrongly formatted data, duplicate data, incomplete data, and corrupted data. 

Data exploration: 

The structured data is used as a rough blueprint to explore through and identify patterns, characteristics, and trends.

Feature engineering:

Feature engineering involves the application of algorithms on predictive models to improve accuracy and automate the process of extraction of raw data. It is a part of Machine Learning.

Predictive modeling:

Predictive modeling involves the application of mathematical concepts like statistics and analysis of the data or input; to predict favorable outcomes.

Data visualization:

Visualization of data requires an eye for detail and strong storytelling skills to represent and communicate the results of the analysis with the team to determine the next business decision.

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Why should you care about data science?

Data science, since its evolution, has made its place in almost all sectors – finance, healthcare, transport, e-commerce, etc. That makes it necessary for us to understand what data science is, and what it is capable of.

Here are a few scenarios of how data science has brought in a significant change in the following sectors: 

Banking:

Monitoring irregular transactions, maintaining customer data, recognizing a customer’s investment patterns to recommend plans & policies suitable for them, account & card fraud detection, analysis of the bank’s performance for owners to realize lacking areas to provide better customer service.

Finance:

Predictive modeling to predict future events and the probability of outcomes or results, predictive analysis to scrutinize facts and data for favorable outcomes, such as predicting the stock market’s jump towards green or drop in a share’s price.

Producing & Manufacturing:

Machine Learning algorithms have enhanced the efficiency of manufacturing and producing systems and machines by way of automation. An analysis of customer feedback helps manufacturers understand the customer’s requirements and expectations to alter their products accordingly to increase sales. 

Insight from travel records is gathered to recognize what days or times passengers prefer to travel to adjust and arrange transportation schedules and frame a ticket price structure. Data also helps understand the best time for delivery of a product. A survey once showed that most customers prefer deliveries between 10 AM to 5 PM.

E-commerce:

A user’s buying and selling patterns, likes, and dislikes, are stored by businesses to derive useful insights. Data Science helps achieve business growth by analyzing a buyer’s search patterns, recent trends, user behavior, and a few other metrics to enhance the digital experience.

Though data science is widely used, there is a noticeable vacancy for individuals with the required skills to assess this data hence, creating a huge demand for data science practitioners in all fields.

Who uses data science?

In a neck-to-neck race of who comes out on top, data science has changed businesses’ perspective of looking at data. The feedback a business receives from its customers is considered of utmost importance to drive significant impact and compete with other companies. The only way to beat the competition is to recognize customer needs and expectations and how you can deliver them faster and better than your competitor. 

Data Science has now entered sectors like banking & finance, healthcare, transport, e-commerce, and other common business sectors like the fashion and food industry. The graph below is a representation of the availability of jobs in the respective sectors.

Who uses data science

The graph shows the demand for Data Science practitioners in descending order with availability in diverse sectors including Banking & Financial Services, Energy & Utilities, Pharma & Healthcare, E-commerce, Media & Entertainment, Telecom, Automobile, Retail & CPG, Travel & Hospitality. 

With Big Data growing by the hour, it would only be right to assume that the need for Data Scientists, Data Engineers, Data Analysts, Business Analysts, Database Administrators, Data Architects, Machine Learning Engineers, Deep Learning Engineers, etc.,

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Why should you choose data science as your career?

There is worldwide demand for data science practitioners. And as per reports, big data is predicted to get even bigger in the coming future and will generate an outrageous demand for data science professionals in top-tier companies. 

Here are a few reasons that have motivated many to choose Data Science as their career:

High demand:

Data Science received undivided attention and recognition after Harvard declared it to be the sexiest job of the 21st century in its business review. The acclaimed fame garnered the curiosity of business industries and realized the scope and potential of data science, making businesses race to get their hands on the best data science practitioners. 

A top-paying job:

Companies and businesses are quite willing to pay Data Science professionals with a minimum of 5 years of experience the salary they expect (sometimes as high as 1.3 crores per year or more). 

Diverse opportunities:

Data Science is being implemented in many spheres like healthcare, Life sciences, retail, fashion, food, producing & manufacturing, and now, even sports. This diversity leaves wide job opportunities for Data Science professionals to choose from. 

Interdisciplinary knowledge:

Data Scientists are well-versed in dealing with data pertaining to various backgrounds like healthcare, banking, finance, food, fashion, automobiles, and other expansive sectors. A Data Scientist is, like his machines, always learning. Data Science jobs offer their aspirants the most valuable quality that only a few jobs can boast of: Knowledge. A Data Scientist is abreast of new updates in technology, recent trends, happenings around the world, important events, new business equipment, philosophies and so much more.  A Data Scientist is knowledgeable across an array of platforms that only a few other job professions can boast of.

Who can learn data science? 

Any graduate with a  degree in Science, Technology, Engineering, and Mathematics is eligible for learning data science. Individuals with basic high school education and above can also apply for learning data science. Additional technical knowledge for taking up a course in data science includes R Programming, Hadoop, MATLAB, Python, SAS, and SQL. 

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What are the in-demand data science careers?

The in-demand jobs in data science are:

Machine Learning Engineer:

Machine Learning Engineers primarily work with machines and are proficient in programming languages. A Machine Learning Engineer (ML), develops algorithms for accuracy in a machine’s functioning and instils the ability to learn from new and previous operations by storing these operations or interactions.

Data Scientists:

A Data Scientist is also well-knowledged in the field of Machine Learning and Deep Learning. But a Data Scientist’s focus is more inclined toward business operations for growth. A Data Scientist peruses data to suggest ideas for the development of a business. 

Data Analysts:

Data Analysts mostly deal with transforming data into coherent and consumable formats and are responsible for data visualization and its representation to communicate the performed analysis. They are critical thinkers with an eye for detail.

Data Architect:

Data Architects create a robust structure for rapid inflow and outflow of data without any obstruction or security risks. They work with Database Administrators to create secure databases and monitor access activity.

Data Engineers:

Data Engineers build pipelines for data flow. They perform ETL/ELT processes on the data which is later sent to databases or data warehouses for storage. The Engineers are skilled in SQL (Structured Query Language) and thus, responsible for database management. 

What is the future of data science jobs?

There will always be scope for data science jobs in the future as the world is opting out of manual labour and leaning more towards artificially intelligent machines and systems to enhance productivity. Corporations and governments across the globe have begun hiring Data Science professionals to deliver satisfactory products and to better administrate citizens.

A certified Data Science practitioner earns an average of INR 8 Lakh a year.

What is the future of data science jobs

With Big Data increasing ten-fold in the near future, Data Science jobs like Data Analyst, Data Scientist, Database Administrator, Data Architect, Data Engineer, Cybersecurity/Information security Engineer, Machine Learning Engineer, Blockchain Engineer, Cloud Computing Engineer, Deep Learning Engineer, and IoT Engineer, are believed to experience high demand for their skills and handsome salaries.

Top 30 frequently asked Data Science Interview Questions!

How to become a data scientist, prerequisites?

You can become a Data Scientist if you have the following qualifications:

  • A bachelor’s degree in Mathematics, Science, Computer Science, Business Studies, Physics, Economics, Social Science, Economics, Applied Math, or IT. 
  • A Master’s degree in Mathematics, Science, Computer Science, Business Studies, Physics, Economics, Social Science, Economics, Applied Math, or IT. 
  • Basic high school education is mandatory. Possessing a Master’s or Bachelor’s degree in the above-mentioned fields is very beneficial as the concepts you encounter in learning data science would not seem difficult given your prior acquaintance with them in your degree, but if you do not have a degree, do not be disheartened, with strong dedication you can learn the subjects you have missed and surpass your peers.

What skills must a data scientist possess?

What skills must a data scientist possess

A data scientist must possess the following skills:

Hard Skills - Mathematics, Computer Science, Big data, fundamentals of data science, Programming languages like Python and R, Statistics, Data wrangling, Data Extraction, Transformation and Loading, Data manipulation and analysis (involves knowledge of SQL and NoSQL), Data visualization  tools like Tableau, Power BI, Dundas BI, Machine learning, Deep learning, Software,  SAS, MATLAB, Apache Spark, Hadoop, etc.,

Soft Skills - Problem-solving, storytelling, collaboration, curiosity, communication, creativity, adaptability, product understanding, team player, business acumen, and critical thinking.

What does a data scientist do?

  • A data scientist’s role is to uncover important data to derive valuable insights for growing a business. 
  • A data scientist structures, analyzes, and represents data in a consumable format for business owners and informs them of the state of their business and what should be the next strategy.
  • He applies Machine Learning algorithms like Linear Regression, Logistic Regression, Decision tree, Naive Bayes, etc., and employs processes like natural language programming, speech recognition, conversion of text to speech, converting text into data, etc., to build cost-effective and unparalleled machines and systems.

What tools do data scientists use?

A Data Scientist filters, structures, sorts and analyzes data. He also performs predictive analysis and modeling for efficiency. For these actions to be achieved successfully, a Data Scientist must be aware of the best tools to suit each purpose.

A Data Scientist uses the following tools in the following lines of work:

Programming language - the majority of data scientists prefer using Python for programming as it is more suited for almost all kinds of operations.

Machine learning tools - Machine Learning tools are used mostly depending on the type of objects to be fulfilled. Machine Learning tools are h20.ai, Tensor Flow, Apache Mahout, and Accord.Net.

Data visualization tools - Tableau is the most popular data visualization tool other data visualization tools include PowerBI, Dundas BI, Infogram, and Plotly.

Database Management - SQL, NoSQL, MySQL, PostgreSQL, MongoDB, Hadoop HDFS, etc.,

Related Article: Big Data vs Data Science

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What are the problems solved by Data Scientists?

The availability of all sorts of data brought solutions for every problem. Data Scientists use this data for providing solutions to the following challenges

Healthcare:

Data Science offers suggestions for the betterment of a patient’s health, diagnosis, precautions, and detection of any chronic, genetic or hereditary diseases.

Technology:

New technological concepts like Augmented Reality and Virtual Reality are made possible by implementing Data Science. Machine Learning, Deep Learning, and Natural Language Processing (NLP) have opened gateways for the futuristic way of life. 

Agriculture:

Data Science uses predictive analytics to help farmers study the current conditions of their crops. It helps them monitor activities like pest control, better irrigation technique, and diseases to ensure maximum productivity and benefits. Data Science has enabled the usage of Sensors, applications, and other technology to help farmers observe efficient cultivation, and farming techniques. 

Finance:

Data Science curbed the Finance industry’s need for security and automation for its operation. Data Science professionals run processes of Risk analysis, and Fraud detection to intercept identity, authorization, and credibility for confidential or vulnerable transactions. A Data Scientist or a Data Analyst performs analysis to develop prime techniques and applications for customer data management and provision of the best services. 

Marketing:

Data Analysts gather information such as a customer’s age, location, occupation, gender, and a few other metrics for analysis to determine a successful marketing technique for the product.

Sports:

With Big Data Analytics in the field, sports statisticians can predict the outcome of a game by comparing each player’s performance with the rival team’s. Data Science has helped teams figure out the best gameplay and player to win the game.

Transportation:

Data Science gathers route-related information — traffic, accidents, or social or political incidents like strikes, rallies, etc., and uses predictive analysis for selecting the best route for faster and safe travel. 

Real Estate:

Selling a property is a lot of work and the results are often predetermined by many social, local, political, and economic factors that are often overlooked by Real Estate agents. Data Science calculates all these factors along with other geographical factors of a property such as its location, area, directions, etc., to increase sales.

Food industries:

Food industries have begun using data science to understand better delivery timings by viewing aspects like climate, traffic, and road obstructions. Considering aspects like temperature, hygiene, location, and storage has helped food and nutrition industries in preventing food-borne diseases like Salmonella, Listeria, Staph infections, and other such diseases caused by ingesting improperly processed or stale food.

Rentals Businesses:

Data Science predicts the influx of customers in rental businesses by considering factors like which month a person prefers for vacation, popular locations, tourist spots, hotels, weather, festivals, etc., to help businesses providing rental bikes, automobiles, clothing, accessories, rooms, and apartments.

Climate/Environmental organizations:

Records of natural phenomena like volcano eruptions, floods, droughts, and earthquakes and the destruction caused, can be studied to predict and prepare for dire circumstances in advance. Though nature takes heed of no being, Data Science proves advantageous by running predictive analysis to mitigate the risk and minimize damage. Pollution and the reasons behind it can be calculated to manage vehicular and industrial pollution to improve the quality of natural resources.

Roles & Avg. Salary

A person, after his data science course completion, is eligible for the following roles:

  • Data Scientist: A Data Scientist uses his knowledge of computer science, mathematics, and statistics to develop models, AI, and other automated processes within the organization. He is more involved in the working of machines and models than analysis. A Data Scientist earns an average of INR 8,62,677 in India.
  • Data Analyst: A Data Analyst analyzes, results, data, and techniques to provide useful insights from the available information. A Data Analyst earns an average of INR 4,62,574 per year. 
  • Data Engineer: A Data Engineer builds algorithms and prototypes, prescriptive and predictive models, data systems, and data pipelines for organizing data. A Data Engineer earns an average of INR 8,00,000 per year. 
  • Data Architect: A Data Architect designs a framework to store, maintain and access the data that a company receives. He is responsible for creating sophisticated and secure architecture for the databases. A Data Architect earns an average of INR 15,57,771. 
  • Database Administrator: Database Administrators are responsible for managing databases, checking data flows, monitoring accessibility, and configuring database servers. A Database Administrator earns an average of INR 7,23,983 per year.
  • Machine Learning Engineer: An ML Engineer constantly designs and develops new systems and algorithms for creating efficient machines, experimenting and training models by choosing correct datasets, checking and resolving issues, and updating machines, systems, and models for smooth functioning. A Machine Learning Engineer earns an average of INR 7,60,000 per year.
  • Machine Learning Scientist: A Machine Learning Scientist creates foolproof AI and ML systems, troubleshoots issues for resolution, and stays updated with the recent trends for innovations. A Machine Learning Scientist earns an average of INR 7,00,000 per year. 
  • Business Analyst: A Business Analyst inspects and analyzes business processes, and finances, stays updated on new business practices and latest IT development, monitors projects, delivery, productivity, and resources, and proposes strategies for business growth. A Business Analyst earns an average of INR 7,32,577 per year. 
  • Required statistics in the Bar chart 

Is there a demand for data science professionals in India?

India has experienced significant growth in businesses in recent years. This increase brought in the need for data science professionals in almost all sectors. Ever since data science came to be recognized as an emerging discipline, countless corporates set out to employ Data Science professionals to quench their thirst for competition.

Data Scientists, Data Analysts, Data Engineers, Data Architects, and other Data science professional fields unlocked the key to translating uncomprehending data into indisputable business growth, and ultimately steady income and desired rate of returns on investments for investors. 

According to India Today, the demand for data science professionals is expected to increase with 11 million job openings just by 2026. The demand for Data Science practitioners will continue to bud so long as the word ‘business’ exists. In today’s world, and even in the future it would be impossible to pursue a business without Data Science supporting it as a backbone.

Which data science using industries need to be considered?

Data science has now become the air any business or organization needs to survive. Industries with a never-ending demand for data science professionals include: 

  • Retail
  • Medicine
  • Banking and Finance
  • Construction
  • Transportation
  • Telecommunication, media, and entertainment
  • Education
  • Manufacturing and Producing
  • Government
  • Automobiles 
  • Cybersecurity

Where do you find data science jobs?

You can browse for data science jobs in these best job hunting portals mentioned below:

  • LinkedIn - LinkedIn is a social site allowing professionals to network, and connect across the world. LinkedIn helps set up your resumé, post blogs, posts, articles, and videos to showcase your talent and interact with other LinkedIn users. Its paid version, LinkedIn Premium, allows access to online classes, and webinars and provides the users with a history of who has searched or viewed their profile.
  • Monster - Monster job hunts across 40 countries including Europe, Asia, and America. Monster helps employers post specified Facebook, Twitter, and Google ads to target the best potential candidates.
  • Indeed - Indeed is the go-to platform for freelancers, and small, middle, or large-sized businesses. Indeed helps companies search for the talent that suits them best. The recruiting platform allows job seekers to filter and search for jobs based on experience, field, job title, and industry.
  • Naukri.com - Naukri, launched by Info Edge is India’s largest and most popular job-hunting site. The platform offers resumé building, job highlights, and filter features that have made it the No.1 Indian job-hunting website and application.
  • Amazon. jobs - The Amazon job portal provides users with a wide platform to explore their job opportunities across the globe. The portal also aids students and freshers in finding suitable internships and jobs.
  • Glassdoor - Glassdoor, a US-based employment website, helps job hunters browse through job postings based on location and job title. The site suggests similar jobs applied to by others and gives the estimate of an average salary figure for that particular job position. 

Which are the top 20 companies in data science?

The best companies hiring data science professionals are:

  • BRIDGEi2iAnalytics - BRIDGEi2i, headquartered in Bangalore, is a part of Accenture and aims toward an AI-driven world.
  • Ugam - Ugam, founded in 2000 in Mumbai, is a part of the Merkle company, focused on powering analytics into action.
  • Genpact - Genpact is a well-known name to all in IT. Located in Bangalore, Karnataka, Genpact has played a role in the transformation of many big companies. 
  • Citrix - Located in Bangalore, Karnataka, Citrix deals with virtualization, cloud services, file syncing, and other processes involved in delivering safe and remote work. 
  • Absolutdata - Absolutdata is a widely recognized infogain company located in Gurgaon, Haryana. The company has worked for clients: Adidas, Fortune 500, Fortune 100, Epson, Godiva, Hyundai, Kelloggs, Kia, LG, Uber, and many more. 
  • Sigmoid - Sigmoid deals primarily with Information Technology and services. It is also located in Bangalore and has worked with Fortune 1000 clients across the globe. 
  • 47 Billion - 47 Billion is located in Indore, Madhya Pradesh, and offers services relating to Big Data, User Experience, Design, Machine Learning, and product development. 
  • Tata Consultancy Services - TCS is one of the most globally recognized brands offering a multitude of services like cybersecurity, IoT & Digital Engineering, Automation, AI, Cloud, and other data involving services to drive impact. TCS is headquartered in Mumbai, Maharashtra. 
  • DataZymes - DataZymes, is an IT company with its focus mostly on AI and Pharma solutions and Life Sciences to improve healthcare. DataZymes has its headquarters in both Bengaluru and Noida.
  • Data Science Lab - Data Science Lab headquartered in Pune, Maharashtra, offers data-driven solutions to complex business problems. 
  • Fractal Analytics - Fractal Analytics, founded in 2000 and located in Mumbai, Maharashtra, is a company offering AI and Analytical services.
  • Cartesian Consulting - Cartesian Consulting along with building SaaS products, offers solutions for marketing and sales. It is located in Mumbai, Maharashtra.
  • Manthan Systems - Manthan Systems in Bangalore, Karnataka, delve into Predictive Analytics and Business Intelligence Software for retail, food, fashion, restaurants, and convenience stores. 
  • Wipro - Wipro, an esteemed organization, founded in 1945 and located in Bengaluru, Karnataka, is a tech service provider in Data, Analytics, AI, Applications, Digital operations, Platforms, Consulting, and Infrastructure services.
  • RCG India - RCG India, located in Cochin, Kerala, provides solutions for eCommerce, web application development, mobile application development, custom software development, and quality engineering across the globe.
  • LatentView Analytics - With its foundation in Chennai, Tamil Nadu, LatentView Analytics provides services in Business Analytics, Consulting services, Data Engineering, Digital solutions, Supply chain analytics, and Risk and Compliance analysis.
  • Datalicious - Datalicious from Equifax in Bengaluru, Karnataka, performs web analysis, data engineering, and data science to advance digital marketing. 
  • Indium Software - Indium Software, Bengaluru, provides data science requiring services including Application Engineering, Data and Analytics, Cloud Engineering, Digital Assurance, and Low code development. 
  • ValueLabs - ValueLabs, a tech company based in Hyderabad, delivers solutions for product development, experience, enterprise applications, data & analytics, and enterprise support.
  • Quadratyx - Another Hyderabad-based tech company offering a multitude of solutions like advanced analytics, AI Consulting and roadmaps, Cognitive Automation, Data lake analytics, and Intelligent Decision Assistants.

Related Article: Cyber Security VS Data Science

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What is the difference between data science, data analytics, data analysis, and data mining?

  • Data Science: Data science is a discipline that aims to find questions, answers, techniques, and strategies to drive business growth with the aid of data by using models, AI, ML, and other automated systems. 
  • Data Analytics: Data analytics involves close observation of data to check for trends, patterns, etc, and visualize the data to be represented to the team. The entire science of performing analysis is termed ‘analytics’.
  • Data Analysis: Data analysis refers to scrutinizing data, its transformation, and application of mathematical concepts like statics and probability for analysis. 
  • Data Mining: Data mining also includes the same processes such as inspecting trends, checking patterns, etc. Data Mining is a step in the process of Data Analytics. Filtering through to obtain the right data is data mining and observing or studying this filtered data is data analytics.  
What kind of data science jobs are available in the government?
  • THSTI (Translational Health Science and Technology Institute) is an autonomous institute of biotechnology, ministry of science and technology established by the government of India. The THSTI is located in Haryana and posts data scientist job vacancies every year.  
  • NABARD (National Bank for Agriculture and Rural Development) NABARD has job openings for Analytics-cum-Chief Data Consultants.
  • ReBIT (Reserve Bank Information Technology Private Limited) is recruiting Senior Data Scientist with 5-8 years of experience in the IT sector and the required degree in the field. 
  • RBI (Reserve Bank of India) - The Reserve Bank of India is hiring data analysts with an age limit of 23-37 years and a written and interviewed selection process. 
  • ICRISAT (International Crops Research Institute for the Semi-Arid Tropics) has job openings for Data Scientists on a contractual basis with more than 10 years of experience. 
What are the applications of data science?

Data has proved to be an integral part of today’s world. Many businesses have recognized the untapped potential of the data they receive and the advantages that can be unfurled by using this data. 

Data science deals precisely with this insurmountable data by transforming, sorting, managing, and studying it to drive impact in all sectors and occupations. 

  • Healthcare - Data science is now used in healthcare to maintain a patient’s medical records like his medication, condition, and allergies. These records are saved and compared to other similar patients for accuracy in diagnosis. 
  • Banking & Finance - Analysis and Cybersecurity have helped banking sectors in maintaining customer confidentiality, customer data management, fraud detection, and risk analysis.   
  • Manufacturing & Production - Predictive modeling, Machine Learning, Automation, and Analysis are beneficial to the manufacturing and producing industries to determine deficient areas and improve efficiency by implementing automation of systems and products. 
  • E-Commerce - Data science has helped retailers discover trends and patterns in products, set price structures as per popularity, and obtain reviews and insights on products and customers.  
  • Web Browsing - Predicts user behavior and recommends websites, posts, and videos related to previous searches or topics related to your previous searches. 
  • Transportation - Self-driving or driverless cars have become a hot topic recently. The futuristic approach that seemed far-fetched is possible today through extensive use of smart systems and Artificial Intelligence (AI).
  • Gaming and VR - Machine Learning algorithms are used in games and VR to enhance the gaming experience by recording previous moves and changing the game strategy to make it more engrossing.

What are the applications of data science

What are the advantages and disadvantages of data science?

‘Data Science’ has become a common jargon in the business world and IT. Many individuals are seeking out training institutes to gain proficiency in data science with dreams to be hired by top companies. Now let’s take a look at the most talked-about advantages and rarely mentioned disadvantages of data science.   

Advantages 
  • High demand: Data Science received undivided attention and recognition after Harvard declared it to be the sexiest job of the 21st century in its business review. The acclaimed fame garnered the curiosity of business industries and realized the scope and   potential of data science, making businesses race to get their hands on the best data science practitioners. 
  • Sky-high pays: Companies and businesses are quite willing to pay Data Science professionals with a minimum of 5 years of experience the salary they expect (sometimes as high as 1.3 crores per year or more). 
  • Diverse opportunities: Data Science is being implemented in many spheres like healthcare, Life sciences, retail, fashion, food, producing & manufacturing, and now, even sports. This diversity leaves wide job opportunities for Data Science professionals to choose from. 
  • Interdisciplinary knowledge: Data Scientists are well-versed in dealing with data pertaining to various backgrounds like healthcare, banking, finance, food, fashion, automobiles, and other expansive sectors. A Data Scientist is, like his machines, always learning. Data Science jobs offer their aspirants the most valuable quality that only a few jobs can boast of: Knowledge. A Data Scientist is abreast of new updates in technology, recent trends, happenings around the world, important events, new business equipment, philosophies and so much more.  A Data Scientist is knowledgeable across an array of platforms that only a few other job professions can boast of.
Disadvantages
  • Privacy risks: More often than not, Data scientists deal with sensitive customer data invading privacy which sometimes results in data leaks owing to security-related issues a company has overlooked. 
  • Up-to-date on news: Any Data scientist working in any sphere or field is obligated to stay up-to-date on the latest trends, news, and events occurring in that field for better input and development. Covering all these regularly is deemed to be taxing
  • Difficult to master: A Data Science professional employs statistics, analysis, business knowledge, domain knowledge, computational knowledge, and many other computer science and mathematical concepts. The application of this vast amount of knowledge at the right time and situation is difficult to master or finesse. 
Are there any blogs, posts, podcasts, etc., that I can follow for data science?

A lot of websites have started publishing blogs that are of much help to aspiring data scientists and other data science professionals. The best data science blog websites are mentioned below: 

  • Towards Data Science - “Towards Data Science Inc. is proud to run a publication where independent authors who follow our rules and guidelines can publish their work, share their knowledge and expertise, and engage a wide audience on Medium”.
  • Datacamp Blog and Podcasts - “There is incredible power in data—but only if you know what to do with it. DataCamp teaches companies and individuals the skills they need to work with data in the real world.”
  • Data Double Confirm - Data Double Confirm documents the learning journey of Hui Xinag Chua, the founder of Data Double Confirm, and doubles up as a starter kit for those interested to learn more about data science. The blog has received numerous accolades and has readers from across five continents.
  • Analytics Vidhya -If you are an analytics/data science professional, Analytics Vidhya would help you address your knowledge and career needs. This could be through articles, courses, discussions, hackathons, competitions, and job portals.”
  • Data Robot - DataRobot was founded in 2012 to democratize access to AI. Today, DataRobot is the AI Cloud leader, with a vision to deliver a unified platform for all users, all data types, and all environments to accelerate the delivery of AI to production for every organization.
  • InData Labs’ - “InData Labs’ mission is to help our Clients rocket their competitiveness and get brilliant results of their work unseen before. We strive to reach these goals by applying innovative and proprietary development technologies, providing exceptional services, and using excellent professional expertise.”
  • 9TO5SAS - “Throughout my career, I have been collecting loads of tips, tricks, and hacks for SAS. Today, I am excited to share them with anyone new to the programming world. I have a passion for demystifying this often-misunderstood coding software to make it accessible for anyone just starting out in the field.” - Subhro (Founder).

Podcasts :

SuperDataScience - SuperDataScience hosts podcasts by experienced business, artificial intelligence, Python, Machine Learning, Deep Learning,  and Data Science professionals with around 570 podcasts on the topics of business, data visualization, Machine Learning, Python, Deep Learning, Artificial Intelligence, R Programming, Data Science, Tableau, Excel, Blockchain, and Database. 

Data Skeptic - Data Skeptic addresses remote work issues, the unsupervised learning k-means, time series, definition of consensus in distributed systems, database designs, and voting algorithms and around 90 mini-episodes on Machine Learning concepts. Listen to the episodes on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Castbox, Amazon Music, TuneIn, Podcast Addict, Pocket Casts, and Player FM.

The Artists of Data Science - The Artists of Data Science’s podcasts can be tuned into through Apple Podcasts, Google Podcasts, Overcast, Castbox, Spotify, TuneIn, and Stitcher. 

Lights On Data Show - The Podcast is hosted by George Firican where he discusses data science topics with industry experts. You can listen to the podcasts on Apple Podcasts, Castbox, Google podcast, Overcast, Pocket Casts, Radio Public, and Spotify.

Domino Data Lab - Domino Data Lab launched the Data Science Leaders podcast hosted by Dave Cole. Each podcast is an interview with data science experts where they give insights, recommendations, and breakthrough strategies to achieve enterprise data science success. The interviews can be listened to on Apple Podcasts, Google Podcasts, Stitcher, and Spotify. 

Harvard Data Science Review Podcast - The prestigious Harvard Data Science Review (HDSR) podbeans reveal case studies of data science — how it has been used, abused, and manipulated to drive shocking results. The podbeans explore data science topics with data science experts and CEOs around the globe. 

Data Science At Home - Data Science At Home, a show hosted by Dr Francesco Gadaleta, is about Machine Learning, algorithms, and Artificial Intelligence. The podcasts air interviews with the most influential figures in the field of data science. The podcasts can be listened to on Apple Podcasts, and Spotify. 

Community Alteryx - Community hosts ‘Alter Everything’ and ‘Data Science Mixer’ podcasts covering the broad analytical culture, Machine Learning, NLP, Python, Big Data, Datasets,  and many other data science topics with industry experts. The platform has 150+ podcasts that can be listened to through Apple Podcasts, YouTube, Spotify, and Overcast

Women in Data Science - Stanford - Women in Data Science is a special initiative taken up by Stanford University to encourage women across the world to lead in their domains with the help of data science. The podcast is hosted by Professor Margot  Gerritsen of Stanford University as she converses with influential women in data science working in healthcare, cosmology, finance, human rights, and more. The WiDS podcast can be tuned into through Apple Podcasts, Google Podcasts, Stitcher, Spotify, and Overcast.

O’Reilly Data Show -  The O’Reilly Data Show is a podcast hosted by Ben Lorica, Chief Data Scientist at O’Reilly media. Ben has also held the position of Program Chair head of the Strata Data Conference, the O’Reilly Artificial Intelligence, and TensorFlow world. Ben questions Machine Learning and Data Science professionals on techniques driving Big Data, Data Science, and AI. The show explores Machine Learning concepts extensively. You can listen to their latest episodes on Apple Podcasts, Google Play, Stitcher, and RSS. 

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Saritha Reddy
Saritha Reddy
Research Analyst
A technical lead content writer in HKR Trainings with an expertise in delivering content on the market demanding technologies like Networking, Storage & Virtualization,Cyber Security & SIEM Tools, Server Administration, Operating System & Administration, IAM Tools, Cloud Computing, etc. She does a great job in creating wonderful content for the users and always keeps updated with the latest trends in the market. To know more information connect her on Linkedin, Twitter, and Facebook.