What is Data Science?

Data science is a term that has existed for over thirty years now. The basic purpose of it is to study relevant data and derive information from it. To put it in perspective, data is available in two forms

Structured data – data is collected from various sources depending on the requirement. This is later organized in a orderly manner.

Unstructured data – data is collected from various sources but is stored or presented in an unstructured or unorganized form.

It is also a composition of various techniques belonging to other fields such as

Statistics – this Field deals with collection of data, analysis, interpretation, organization and presentation of data.Statistics is relevant in fields of astronomy, economics, education, engineering, marketing, medicine, public health, sports, biology, genetics, psychology etc.

Data mining–refers to going through large amounts of data through different perspectives to derive new information. This technique may also be used to gather and organize information.

E.g. ever wonder how big retail companies target the right audience? As in people who might actually be interested in buying their products. Simple, they go through volumes of data available with them of customer’s previous buying patterns. The customers are also categorized accordingly. Hence, next time the company wants to push a product they know exactly who to target.

Predictive analysis – this method refers to going through the available information and attempting to

predict the future consequences.Thesepredictions include all the off-course events that might occur.

E.g. R&D team, they understand the current situation first and then try to fix the flaws in it. They also try to predict the future needs, harnessing of solar energy lead to the discovery of solar panels. Now there is growing demand for this industry all over the world. Some of it is due to necessity, in an area where electricity supply is irregular, solar energy comes in handy.

At Analytics finishing school,

We train our students to deal with any situation, think ahead of time and deal with the competition. Our job is the make people capable and not just confer a degree upon them.