There is a reason behind all the praise this course is getting from leading universities and the business world. The reason is simple: this is the information age. Data is of paramount importance in today’s life. Useful insights can be extracted from the data collected through online social networking sites and call centers etc. However, not all data is useful and is called dark data which is redundant in nature and can be ignored. It does not provide any useful information to companies about customers.
Big Data, the term simply means a large amount of existing data in the system that has significance and can make predictions about the future. Big data can be classified into three categories:
Descriptive analytics:
You are describing the data as it is. Point plotting based on understanding and critical analysis of the data. The discovery about the facts and figures is cited as such and the analysis is done at the level of the information collected.
Predictive analysis:
This form of analysis is carried out due to the knowledge discovered and decisions are made on the basis of it for one or another type of project. This information becomes the guiding force to become beneficial and crucial in the whole process on the target market. Having past data and reflecting on it with the help of mathematical tools and statistical tools gives an edge in predicting things.
Prescriptive Analytics:
Such analysis is done when there are some things that require changes. It undertakes and analyzes a series of options and then determines the best route for the project to be undertaken. This type of analysis suits companies that want to be profitable in their operation and remain positive about the results of the project.
Machine learning:
Machine learning is also of paramount importance in data science. Without this, it is useless. It is the prerequisite that allows a project to be carried out successfully. Various languages are being taught during data science like Hadoop, Python and others. Machine learning enables apps like Siri to deliver better results to the person requesting things, as they are designed to identify patterns. It’s this machine learning working in the background. The more accurate you are, the better the results.
Things like data science is something that is evolving by nature. With the upcoming IoT concept, things have become different. The application of data science has become even more important because this knowledge is absorbed by the electronic devices of normal life that people use. Recording the number of steps a person traveled in a day on a watch to analyze an individual’s health based on a month’s record of data is all that data science is making possible. Things are changing fast in this world and importance is given to structured data. Surely, this field will never become redundant in the coming days.