Data science as a field sound simple, there is data and science is used to find meaning to the data. But it is not that simple in practice. Data volume collected is not in its simplest form, usually unstructured and raw and the tools used need expert knowledge. One can say that the entire flow of data science into a data product is a technical and complex process which needs training and practice.
WHY IS DATA ANALYTICS NEEDED?
Data science is a domain which demands skills in mathematics, statistics, and computer software and programming. Data science use sophisticated models to find meaningful insights. It is a field which has entered every other industry at a rapid speed. Several data scientists are daily finding solutions to problems posed by the market, business environment, customers and clients. So why these businesses are in such a dire need of analytics and how do analytics help them.
- Helps in knowing one’s customer and their needs from selling to post-purchase satisfaction.
- Helps in marketing and understanding marketing trends and opportunities.
- Helps in optimizing production, operation, human resource etc to enhance the performance of the business unit.