What is Data Science?
Data science is a scientific methodology, to obtain actionable insights from large unprocessed data sets and structured data. It focuses on uncovering things that we do not know. It is a source of innovative solutions for our problems.
It uses a variety of models and means of extracting and processing information. It analyses data on the concept of mathematics and statistics with the help of automated tools. Cleanse data, find data connections, analyse, and predict potential trends. Manipulate, identify disconnected data points, and explore the probabilities and combinations.
It encourages us to try distinct ways to analyze information. Capture data, program it and solve specific problems with data science. It provides a new perspective towards data, enhances usability to provide insights. Data science can support accurate business decisions and tackle big data.
Data scientists use programming languages like SQL, Python, Java, R, and Scala for multiple analytical functions. They write algorithms, build statistical and predictive models to analyze data.
What is Big Data Analytics?
Big Data effectively processes enormous data, extensive information, and complex data that traditional applications cannot attempt. Big data consists of a variety of structured and unstructured data. Introduce cost-effective and latest forms of information to enable enhanced business insights. It can highlight market trends, customer preferences, customer behavior, and buying patterns
Data analytics can help in the organization’s goals by measuring the current and past events and plans form future events. It performs statistical analysis to create a meaningful presentation of data by connecting patterns to strategize business. It eases immediate improvements, problem-solving, and respond to specific concern area. Data analysts require knowledge of Pig, Hive, R, SQL, and Python.
Data Analytics needs well-defined data sets to address particular problematic areas of business. For better results, the data analysts need to have technical expertise and knowledge of mathematics and statistics. Data mining, database management, data analysis, and skills to convey the quantitative results achieved from data.
Data Analysis has important role in Data Science; it performs a variety of tasks such as collecting and organizing data. It assists in presenting the data in charts, graphs, comparative tables, and build relational databases for organizations.
Data analysis and data analytics sound similar, data analysis includes everything a data analyst practices compiling and analyzing data. Whereas data analytics is a subsection of data analysis, it uses technical tools and data analysis techniques to achieve business objectives.
What is the Difference between Data Science and Big Data Analytics?
Data Science is an integral part of Artificial Intelligence, Machine Learning, Search Engine Engineering, and Corporate Analytics. Big Data Analytics is widely used to find actionable items in fields such as healthcare, gaming, and travel industries.
With a greater scope of data, science helps in data mining for varied and unique fields. Big Data analysis mainly focuses on processing large data. Simplification of the differentiation, data science provides thought for questions you should ask and big data analytics helps in discovering answers to questions.
Data science lays a strong foundation by initiating a focus on future trends, improves observations of data movements, and provides potential insights. Big data analytics provides the path for practical application of actionable insights.
Data analytics examines large data sets and data scientists create algorithms, work on creating new models for prediction.
Are there any Similarities between Data Science and Big Data Analytics?
Similarity, the interconnectivity of Data Science and Big Data Analytics brings wonderful results to benefit organizations. Their dependency can affect the overall quality of action strategy and consequences based on those actions. Companies never apply both Data Science and Big Data Analytics together in every situation yet are useful for different purposes. It can help companies in the technological change they are about to have. Both can help companies to understand the data better.
The relationship between them can have a positive impact on the company.
- In 2019, the big data market likely to grow by 20% and the big data analytics market headed towards the target of $103 billion by 2023.
- Worldwide the companies in various sectors using big data technology are telecommunications 94.5%, insurance 83%, advertising 77%, financial services 70%, healthcare 63%, and technology 57.5%.
- Nearly, 81% of data scientists analyze data of non-IT industries.
- About 90% of enterprise analytics stated that data and analytics are key elements of initiatives taken by their organization towards digital transformation.
- Data-driven organizations have 23 times more chances of customer acquisition, and 6 times more likely to retain the customer.
- Businesses are motivated to get more insights, proves the 30% per year growth in insight-driven organizations.
- By 2020, we can expect 2.7 million job listings for data science and data analytics.
Applications and Benefits of Data Science and Big Data Analytics:
Tremendous benefits of data science are noticeable with the number of industries involved in technological developments. Data science is a driving force for business improvement and expansion.
- Agriculture: Surprisingly data science bias-free thus can benefit even sectors that were not data-driven. It is a reliable source for suggestive actions for water frequency or quantity manure required, soil suitable crops, the precise amount of seeds needed, etc. Big data analytics can be of great assistance to farmers in yield prediction, crop failure symptoms due to weather changes, food safety, and spoilage prevention and much more. Companies can rest assured of crop quality, precautions taken by farmers during harvesting and packaging, and on delivery possibilities.
- Aviation & Travel: Data science can help in reducing operating costs, maximizing bookings, and improving profits. Technology can help flyers in taking decisions of routes, connecting flights, and seats before booking. This is the service industry, for better performance in various areas; companies adopt data science. Big data analytics can enhance customer experience through information shared by the company. Users can find travel discounts, delays, customized packages, open tickets, and personalized air and other travel recommendations, etc. Companies can get statistical and predictive analysis about the selective area such as profits against a particular marketing campaign. Social media activities and its positive impact or rates of conversion are some of the insights that can help in cost reduction.
- Customer Acquisition: The complete process is of high importance and creates high value for businesses. Data Science can help identify business opportunities, amend marketing strategies, and design marketing campaigns. Redefining strategies, redesigning campaigns and re-targeting audiences is possible with data science. Big data analytics highlights the pain and profit points for business. Identify the best possible method for customer acquisition and improve on the basis of data analysis. Return on Investments, profitability, and other important business ratios presented by big data analytics in the simplest form. Big Data of the telecommunications industry can help in getting new subscribers, retaining existing customers, approaching current subscribers to serve based on their priorities, frequency of recharge, package preferences, and use of internet packs, etc.
- Education: Implementing data science in this sector can help in the student admission process; take calculated decisions, check enrollment rates, dropouts from institutes, etc. Big data analysis can compare the current and past year’s student data, issues in process or course wise predictions of student performance, etc. Colleges and educational institutes can perform various analyses using the data and plan the changes required. Big data analytics can evaluate students for admissions in other courses based on their eligibility, preferences, or inclination.
- Healthcare: Data science collects data from various applications, wearable gear, and patient data by monitoring constantly. It helps in preventing potential health problems. The pharma research and new medicine coding are eased with data science. It can predict illness, frequent hospitalizations. Hospitals can use it for new cases, to diagnose patients accurately, and take quick decisions and save lives. Big data analytics can help in cost reduction on treatments, treat maximum patients, improve medical services and the estimations needed to serve better with exciting machines.
- Internet Search: The search engines use data science to write effective algorithms to deliver the accurate results of search queries in milliseconds. Big data analytics can recommend users on their search, product, or services, or show preference based results. Search engines have frequent visitors, their view history, specific requirements, and many preferences. The speedy suggestions can save time and increases the chances of someone clicking the links. Even digital advertisements have strong data science algorithms and they are effective than traditional methods of advertising. The user experience and profitability of companies improve with the help of big data analysis.
- Financial Services: Banking, insurance, and financial institutes have to deal with huge data and the complexity, data science efficiently deals with. Big data analytics allows us to focus on relevant data from the loads of massive data that influence customer analytics. It helps in operational issues identification, fraud prevention and improved recommendations for customers.
Now with the scope of data science and big data analytics, we can find why customers are loyal or why they leave you. Find what works in your favor and against you. Know more about customer expectations and if you can meet them. Find more of such indications are available at varied data points that lie on websites, e-commerce sites, mobile apps, and social media interactions.
Data Science and Big Data Analytics consider facts thus it empowers us to plan, face competition and perform better. We can proactively respond to requests and anticipate the needs of our customers. Deliver relevant products with no anticipations but data-supported predictions. Link innovation in product and service with a set of customer expectations and new demands that generate with time and technology.
Services can be personalized and respond in real-time for faster service. Optimize and improve operational efficiency and productivity by using various techniques for analytics for continuous change and growth. Risk mitigation and fraud prevention provides added security.
Data Science increases abilities to understand the customers and their decision-making patterns. Big Data analysis helps in anticipating the potential that lies in the future based on current data and its predictions.
Modern businesses generate huge data and taking actions based on valuable insights is extremely unavoidable in order to remain in the competition. By 2021, organizations using big data analysis will be in a position to take a share of $1.8 trillion than the ones less informed. We can look into the data relevancy, using before its stale, reduce the customer experience gaps and deliver in real-time if we are committed to using interweave technology with business. Being a data-driven organization is an intelligent choice.