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Data Science Influencing Myriad of Sectors

Data science market in India has grown exponentially in the last few years. Several industries are turning to big data techniques to create value for their business. As the competition in the market is at its all-time high, staying in the game as a leader is a new challenge.

Data analytics has always been a part of business concerns, but the latter is more proliferated and advanced. Let’s know how?

DATA SCIENCE AND DATA ANALYTICS

Industries like finance and banking have always used data analytics to know about risk and frauds that can happen, checking customer’s credit position and expenditure pattern. Data analytics used various quantitative and qualitative methods to see behavioral changes in data and patterns. It doesn’t use much mathematical and programming skills, but depend on soft skills.

Whereas, data science is the broader subject; it uses mathematical, statistical, programming, skills and on final stage rely on soft skills. Data analytics is a part of data science which starts from asking the correct questions and by using one’s curiosity to see what others cannot. That is the reason why data science is more in demand, so that other than just having a narrow lookout one should see future changes and be prepared for it.

 

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