In today’s world, data is being generated at an alarming rate. Every day, lots of data is generated by the users of Facebook or any other social media, or from the calls that one makes, or the data which is being generated from different organizations as well.
How to handle or use such an incredible amount of data has become a concern for people all around the world. So in order to understand and manage this amount of data, data science is used.
Data Science is a combination of these following skills: Mathematics expertise, business/strategy acumen, and technology and hacking skills.
It helps us in analyzing, understanding, processing and extracting the information from the structured as well as unstructured data for further use.
Understanding and processing of data is generally done by the data scientists and the analysts.
The data scientists are involved in the root level where they work on the database to analyze data and obtain information and contribute to developing the product.
These people have good mathematical and business acumen abilities which help them to analyze data.
However, data scientists play a vital role in helping to design and develop products. Their task is to analyze data and build algorithms, test and refine them and finally deploy into the production system.
The analysts, on the other hand, play different types of roles, be it that of a financial analyst or a marketing analyst or whatsoever.
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It has some advantages, a few points are listed below:
- Data Science helps organizations knowing how and when their products sell best and that’s why the products are delivered always to the right place and right time.
- Faster and better decisions are taken by the organization to improve efficiency and earn higher profits.
- It helps the marketing and sales team of organizations in understanding by refining and identifying the target audience.
It also has some disadvantages as well:
- Extracted information from the structured as well as unstructured data for further use can also misused against a group of people of a country or some committee.
- Tool used for the data science and analytics are more expensive to use to obtain information. The tools are also more complex, so people have to learn how to use them.
Examine the Pros and Cons of Data Science – A Great Career Choice!!
Technical people love to talk about Data Science. This technology is the study of data.
In this 21st century, very few people are aware of this buzzword. Before learning Data Science, you should know its advantages and disadvantages.
In this article, we will elaborate in detail so that you will get a clear picture of Data Science.
How an organization makes effective data-driven decisions?
Data science deals with the following to create insights.
- Extraction of data
- Analysing data
- Managing data
- Visualization of data
- Saving data
With the help of the above insights, a company can make a strong data-driven decision.
Today there is a huge need for candidates in data science. So, choosing a career in this technology will be of benefit to candidates.
Complete Knowledge of Advantages and Disadvantages of Data Science
From this article, candidates will know which course is apt in Data Science for them.
Have a Look at the Benefits of Data Science
- Great Opportunity for candidates
Plenty of jobs are available over LinkedIn for candidates related to data science. Also, you will be happy to know by 2016 there will be more than 11.5 million jobs. Thus, this technology has a boom in the job sector.
- High Salary – Lucrative Career
As per Glassdoor, the average salary of a data scientist is $116,100 in a year. Thus, doing this course one can earn a handsome salary.
- Known for its Versatility
Data science helps in many of the applications like:
- Banking sector
- e-commerce applications
- Consultants industry
So, candidates have many opportunities to develop their career.
- Everyone talks about Quality – Data Science Helps to Make Data Effective
Working is not only important. One should aim to keep the quality as well. Thus, data science is a platform for analysing the data and deliver quality.
Let Us Discuss Some of the Disadvantages of Data Science:
- Complete Understanding is not Possible
Data science is vast. It utilized in mathematics, statistics as well as computer science. Thus, being perfect in all fields is not a simple task.
- Accepts High Knowledge
Data science has a dependency on domain knowledge. Like, a candidate who knows computers and have to solve statistics. Then it will be difficult to answer for him.
- Data privacy is the biggest concern
Companies hire a network security administrator for making their data safe and secure. While in data science, personal information is visible to the parent company. Thus, security is big concern and this makes a drawback in Data Science.