Data
science is a method for gathering insights from structured and unstructured
data using approaches, ranging from statistical analysis to machine learning.
For most organizations, data science is used to transform data into value that
come in the form increased revenue, reduced costs, product development, trend
analysis, and more.
Data
science techniques include data mining, big data analysis, data extraction and
data retrieval. Additionally, data science concepts and processes are derived
from data engineering, statistics, programming, social engineering, data
warehousing, machine learning and natural language processing.
The
Increasing Demand for Data Scientists
Successful
Data Scientists are able to identify relevant questions, collect data from a
variety of data sources, organize the information, translate results into
solutions, and effectively communicate their findings. These skills are
required in almost all industries, causing skilled data scientists to be
increasingly valuable to companies.
In
recent times, Data Scientists are present in almost all organizations. These
professionals are well-rounded, data-driven individuals with high-level
technical skills who are capable of building complex quantitative algorithms to
organize and synthesize large amounts of information used to answer questions
and drive strategy in their organization.
Every
organization will likely have a different take on job tasks. Some treat their
Data Scientists as Data Analysts or combine their duties with Data Engineers;
others need top-level analytics experts skilled in intense machine learning and
data visualizations.