Data Science: The Business Backbone

08 MAR 2022 By Andrew E
Data Science: The Business Backbone

What is Data Science?

Data Science, put simply, is the combination of three subfields, which are used to organise unstructured data and make it useful for a multitude of purposes.

These three subfields are:

  1. Statistics
  2. Analytics
  3. Machine Learning

Cassie Kozyrkov

But Statistics and Analytics are the same… Right?

WRONG. It is a common misconception that Analytics and Statistics are two sides of the same coin. Even though they do both share a common aspect (data gathering) what they then DO with this data is vastly different. Where Data Analysts take data to create hypotheses that look beyond the given data, Statisticians would use the given data to test those hypotheses and give the best possible answers. Data Scientists are able to do both!

What about Machine Learning?

Well, Machine Learning is slightly more complicated. Whereas a Data Scientist will use Statistics and Analysis as ways of thinking and problem-solving, Machine Learning is more of an automated tool. Machine Learning essentially automates the Data Analysis process entirely. It does this by being able to make reliable, real-time predictions based on provided data, with minimal – if any – human interaction.

That being said, however, the Machine Learning programs themselves still need to be made and calibrated by someone. This is why it is also beneficial to have a basic understanding of computer science and programming before considering taking a Data Science course.

Why is Data Science important?

Many businesses don’t take into account the sheer amount of data that they encounter and produce on a daily basis. It comes down to the Data Scientists to organise and make sense of these enormous amounts of data. In addition, Data Science can be the only factor that separates a wildly successful business from a badly-performing, near-bankrupt one.

This is why Data Science is such a sought-after career nowadays. As the world becomes more reliant on data, it comes down to us to develop innovative methods to filter the seemingly mountainous and ever-growing amount of it. By doing this, we give ourselves the opportunity to apply all that data to solve problems in a wide variety of situations. Plus, solving problems leads to better overall user experiences for the business too, so it’s a win-win!

The study of Data Science is an incredibly beneficial course for anyone who is pondering whether or not it’s worth following, as it allows students to branch out into a wide array of other jobs; including but not limited to:

  • Data Scientist (obviously)
  • Data Mining Specialist
  • Machine Learning Engineer
  • Business Analyst
  • Marketing Analyst
  • Database Developer

And many many more.

To conclude, there are so many things one can do with a degree in Data Science! It opens the door to a myriad of options for anyone willing to follow it through. Plus, it greatly promotes personal and organisational development.

Where can I study Data Science?

Thinking of taking a Data Science course? Unicaf offers an incredibly designed online Master’s degree for an affordable price. It could even be completely free with a scholarship!

If numbers and statistics are your area of expertise, this course is for you!