Data Science - What and Why, key steps involved in Data science project.
Data Science is basically study of the data, simple or complex,depends on what a data scientist is trying to achieve.
Data Science being a field of various areas of work, there are 3 main areas of study or knowledge of data science which help in extraction and insights from data.
Now, let us get started and understand what is Data Science all about.
Below topics are explained in this Data Science tutorial with the example of an Industry use case:
1. What is Data Science
2. Why Data Science
3. Steps in Data Science project with an Industry use case
- Understanding the business problem
- Data collection
- Data preparation
- Exploratory data analysis
- Training the model
- Insights and recommendations
4. Link between data science and Business
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Why to learn Data Science?
1. Data science is now a priority for top organization: The data generated on daily basis are way too huge to handle and 77% of the top companies are moving into this field which creates a huge competition between the companies. So to handle these types of Data companies are going for data science.
2.Increasing job opportunities: As mentioned in first point, as soon as the data amount will increase their will be requirement of someone who can analyze these data to derive knowledge and Insights. So that is need of data science. So many companies are looking for people who can work on these data efficiently.
3.Increase in Pay: As the demand for data science is increasing at the same time, supply is quite low as it is still the emerging field of technology. So the one with decent data science skill can easily earn a good amount through this technology.
4.Less competition: Due to lack of enough knowledge in data science space, there is less completion in market.
So the job available in the field will be easy to get as the requirement is high and the supply of data analyst is low.
5.Option of freelancing opportunities: In future it is quite obvious that a major quantity of workforce will not be tied to only one company,It is a wise option to find different sources of income and ways of working so that they can have a perfect balance. If you are a data science enthusiast that means you will be well known about the trends, number and data. This will help you in becoming a freelancer or consultant for many big firms.
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