Overview
Data Science
Data Science is about extraction, preparation, analysis, visualization, and maintenance of information. It is a cross-disciplinary field which uses scientific methods and processes to draw insights from data.
Data Science has become one of the most demanded jobs of the 21st century. The number of roles for Data Scientists has grown by 650% since 2012. About 11.5 million jobs will be created by 2026 according to the U.S. Bureau of Labor Statistics. Also, the job of Data Scientist ranks among top emerging jobs on LinkedIn. All the statistics point towards the growing demand for Data Scientists.
Data Science is an amalgamation of maths, computing, statistics and people. Skills that you’ll need to hone for a career in Data Science are as follows:
- Statistics, Mathematics, and Machine learning
- Coding languages like R and Python
- Database management
- Big Data tools like Hadoop, Spark, and MapReduce
- Data mining, data munging, visualization, and reporting tools
Data Scientist
A data scientist is someone who applies tools and method from the statistic, machine learning and human intelligence to extract meaningful information from raw and unorganised data. Someone who spends a lot of time in the process of collecting, cleaning, and munging data, as data can speak volumes, you just need skills to hear it clearly. Over the course of a day, a data scientist has to assume many roles: a mathematician, an analyst, a computer engineer, data miner, decision-maker and a trend spotter.
He is someone who:
- Understands a problem in Business, explore and analyze the problem
- Solves business problems using analytics in different fields
- Applies theory to practice
- Adapts to the changes in the various analytical platforms
Critical skillsets for a Data Scientist
Career Opportunities in Data Science
eCommerce
- Identifying Consumers
- Recommending Products
- Analyzing Reviews
- Price Optimisation
Healthcare
- Medical Image Analysis
- Drug Discovery
- Bioinformatics
- Virtual Assistants
Manufacturing
- Predicting Potential Problems
- Monitoring Systems
- Automating Manufacturing Units
- Anomaly Detection
Transportation
- Self Driving Cars
- Enhanced Driving Experience
- Car Monitoring System
- Enhancing the Safety of Passengers
Banking
- Fraud Detection
- Credit Risk Modeling
- Customer Lifetime Value
- Customer Segmentation
Finance
- Customer Segmentation
- Strategic Decision Making
- Algorithmic Trading
- Risk Analytics
Job Roles in Data Science
Data Scientist
Runs machine algorithms and predictive models to analyse data for business users.
Data Architect
Evaluates and recommends purchase of data management technologies.
Data Engineer
Works with on-premise technologies to create data pipelines and warehouses, big data platforms.
Data Analyst
Extracts data from business systems, analyses it to highlight trends and business information for end users.
Database Administrator
Manages database systems ensuring availability, performance, cost and security of agreements.
Data Modeller
Creates conceptual, logical and physical data models to translate them into database designs.
