Why Data Science is important?

Data Science is a blend of diverse tools, mathematics, algorithms, and machine learning principles. In simple terms, Data science is the information that is collected from the raw data. The world in which we're living in is full of data. Today everywhere is data, and everyone yearns for data. The craving and appetite of data in today's world have increased rapidly and strengthened extensively.

As the market is growing, the craving for data is also boosting. Data science consists of varied features. Data Science helps the IT and business companies to formulate decisions through prediction, analysis, and hypothesis. Data scientists collect valuable and important data, which later on can be utilized as a valuable resource in innovating the business and IT strategies. If we talk about the data sources of data science, it may be unstructured or structured. The collected data may be from various sources such as text files, financial logs, multimedia forms, sensors, and instruments.

Well, data is important in today's world as it is called as the fuel in various areas of the industries. Data science is used in various sectors such as Marketing, Finance, Human resources, etc. Using data science, the companies have become so bright that they can easily sell and push the products as per the customer's demand and purchasing power. Here are a few examples of the usage of data science by different features:

Whenever you upload a picture on Facebook, you get suggestions to tag your friends as the automatic tag option uses the face detection algorithm. In the same way, when you upload something on Google Photos, you get to see the face detection algorithm there.

The airline industry is well-known for bearing losses across the globe. Expect a few airline companies; the service providers are facing issues in gaining profits and maintaining the ratio of occupancy. The rise in the price of fuels and offering heavy discounts to the customers has become a major challenge for airline companies. But now, with the help of data science, the airline companies can predict the flight delay. They can also decide whether to directly land or take a halt in between.

Most of the severe issues for the big-big companies were debts and losses. Data science has made things easier as the probability of risk and threats can easily be detected.

The requirement of data science analyst is moreover going to be required in the field of E-commerce and retail, Manufacturing, Banking and Finance, Healthcare, and the Transport sector. In the E-commerce sector, the implementation of data analysis will mark a great impact on profit, losses, purchases, etc. In the manufacturing sector, data science can help in improving productivity and predicting trends. In the banking and finance sector, data science can help in fraud and risk detection/management. In the transport sector, data science can help in managing and planning transportation networks, etc.

For a student who aspires to enroll in top engineering colleges in India for making a career in Data Science, should have 10+2 with PCM/ statistics/ Computer Science subjects. Considering the increasing significance of data in today's digital world, there are bright prospects of data science in the future. We hope you have got your answer to ‘Why Data Science is important’?