DATA SCIENCE AND YOU
There is no gainsaying the fact that the future belongs to Data Science. Decades ago, it was predicted that there will be around one million data scientists at the end of 2018. The Information Technology world has known better. Practicing Data Scientists around the globe are more than that, albeit with different analytical skills.
Mikevicone is one of the companies undertaking the Data Science profession. No one wants to be left behind and you shouldn’t. We are here to bring those advantages of Data Science to your door.
Decisions are easier to make when where there is enough data. Thus, it has been said that more data availability provides opportunities to drive key business decisions. Data boom, Big Data, and all associated developments have bombarded the world with a lot of data and this has changed the way we look at the world deluged with data around us. You need a highly skilled Data Scientist to assist in putting meaning to all of these and in making them relevant in handling the most complex problems.
By the way, what is data science?
What Is Data Science?
We are living in the information age and the era of big data. Thus, the need for storage is growing. At the onset of this, it was challenging for the enterprise industries to build frameworks and solutions to store data. With that behind the industry, another challenge was thrown up, namely processing of the stored data. This is where data science has come to the rescue.
Let's tell you that data science is the sum total of various algorithms, tools, and machine learning principles blended together to put meaning to hidden patterns from the raw data. This is not to be confused with statistics and analysis which deal only with the processing of the history of data.
Data scientists delve into the available data to analyze and make some meaning of it with insight. It engages advanced machine learning algorithms in order to identify the pattern of occurrence of a particular event in the future.
If you want to find out the future of a particular occurrence in your business, we can help you analyze the data available to you from every angle, even including the ones not known earlier. You can then make the right prediction and subsequently make decisions using the approaches known as predictive causal analytics, prescriptive analytics or predictive plus decision science, and machine learning.
Why You Need Data Science
Gone are the days when data was mostly structured and available in small size. Then, simple Business Intelligence tools could be used to analyze it. Things don’t work that way these days. Modern-day data is either semi-structured or unstructured. Furthermore, sources of data are various and complex. Huge volumes of data are received from sources such as financial logs, multimedia forms, text files, sensors, and instruments. Processing, analyzing, and drawing conclusive insights from these require more complex and advanced scientific analytical tools and algorithms.
Imagine being able to understand the precise needs of your customers from the existing data available from their past browsing history, conversion history, age, and income level. That will enable you to determine where you concentrate your training, marketing, and production efforts. And that will be an amazing business opportunity for you. That is one of the ways Data Science can facilitate your organizational growth, enhance your business decision-making process, and speed up your company’s progress.
Imagine the concept of self-driving cars. The advanced machine learning algorithms must be used since such cars will depend on data from sensors, radars, cameras, and lasers to create maps.
As you are contemplating adopting Data Science, do not confuse it with BI. While BI analyzes previous data in search of hindsight and insight to guide in describing the business, Data Science takes all that to the future. It analyzes what is known, seen, or perceived at the moment to tell you what is to be, when it will be, and how it will be.
We can take you through the phases so that you can better benefit from the empirical evidence each time you count on Data Science.
The Discovery phase is the first. This is when we can assist you to determine specifications, priorities, and budget.
The second stage is data preparation. This is when you need an analytical sandbox inside which you will carry out all the analytics for the duration of the project as you explore, preprocess, and condition your data before modeling. At this phase, you will also extract, transform, load, and transform again to feed the data into the sandbox.
You also have model planning, model building, and operationalize, communicating results as other phases.
Data Science has been described as the future of Artificial Intelligence (AI). Therefore, it is of crucial importance to understand what it is and how it can add value to your business.
Talk to us and let us how it can be used in your business.