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Tuesday, August 24, 2021

What is data science and use of it ?

           Are you looking for details of science? Are you also interested in knowing what is the use of Data Science in the real world? If so, then you reached the right place. In this article, we will explore Data science and we will also learn about predictive analytics and prescriptive analytics.






A) What is Data Science? 

              Data science is a blend of computer science, Business domain knowledge, and mathematics & statistics. It also includes machine learning, data analytics, and advanced analytics Data science is used to discover various patterns present in the data.


B) What is the difference between data statistics and data science?

                 Data statistics or data analytics includes business administration and exploratory data analysis. On the other hand, data science includes data product engineering, machine learning, advanced algorithms along with exploratory data analysis. In short, data statistics explains what is going on by using data history. However, data science also explains what is going on along with identifying future events by using machine learning.

                Data science uses predictive casual analytics, prescriptive analytics and machine learning.

C) What is predictive causal analytics?

                Predictive causal analytics is used to build a model that can predict the possibilities of a particular event in the future for example if you are a banker and giving a loan to the customer and would like to know the probability of a customer making a loan payment on time. Here, we can develop a model that can perform predictive analytics over a period of time.


D) What is prescriptive analytics?

                Prescriptive analytics is used to build a model that has the intelligence of taking decisions and also the ability to modify itself based on dynamic parameters. For example, Tesla's self-driving car collects data for the history of driving of thousands of miles by a different scenario like signal light, turns etc. By applying intelligence it will enable the car to take decisions like when to take turns etc.






E) Machine learning

                  Machine learning is a method of analyzing is used for making predictions. Machine learning is also used for pattern discovery.

                 Various tools using machine learning to enhance capabilities such as   


      

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