PadhaiTime Logo
Padhai Time

What is Data Science?

Data Science is a multidisciplinary field.

Multi - various

Discipline - a field of study

Data Science takes help from multiple fields of study.

Example Field names:

Mathematics, Statistics, Computer Science etc.

Why?

To solve real world problem statements

How?

by extracting useful information out of Data.

“Data Science takes help from Mathematics, Statistics, Computer Science and Subject Knowledge to solve real world problem statements by extracting useful information out of data”

Example Problem Statements solved through Data Science:

  • Rain forecasting using weather data
  • Predicting stock prices based on past performances
  • Theft Identification through Face match Score
  • Finding patterns in Fraudulent transactions
  • Lost vehicle identification through Number Plate match Score

All these problem statements come with underlying Data and after analysing the Data, we get some patterns, these patterns are a source of knowledge for a Machine learning model which is used to predict something for future or to draw conclusions.

Why to study Data Science?

If you are interested in finding the answers of above mentioned and many such questions, Data Science is the destination. Data Science is useful in many domains. Just collect required data and you can draw meaningful conclusions/results. And these conclusions can benefit your organization or your business a lot.

Few examples:

  • If you have understood your data properly and you have created a good machine learning model, then you can predict your future sales, and accordingly you can set daily/monthly production limits in your production unit. This will help you in producing the right number of finished goods and will reduce risk of losses.
  • You can use Data Science in building Credit Risk models to score a credit card customer between 300 to 900. A customer with less than 400 score will not get a loan from your company (for example). This will help in restricting the disbursement of money in wrong hands.
  • Product ranking on your website. Based on the user's search on your website, you can customize the product ranking for each user so that highly ranked products can be shown to him to increase the chances of purchase.
Bengaluru, India
contact.padhaitime@gmail.com
  • We collect cookies and may share with 3rd party vendors for analytics, advertising and to enhance your experience. You can read more about our cookie policy by clicking on the 'Learn More' Button. By Clicking 'Accept', you agree to use our cookie technology.
    Our Privacy policy can be found by clicking here