Data Science Online Training In Hyderabad
Data science is the process of deriving knowledge and
insights from a huge and diverse set of data through organizing, processing and
analysing the data. It involves many different disciplines like mathematical
and statistical modelling, extracting data from it source and applying data
visualization techniques. Often it also involves handling big data technologies
to gather both structured and unstructured data. Below we will see some example
scenarios where Data science is used.
Recommendation systems
As online shopping becomes more prevalent, the e-commerce
platforms are able to capture users shopping preferences as well as the
performance of various products in the market. This leads to creation of
recommendation systems which create models predicting the shoppers needs and
show the products the shopper is most likely to buy.
Financial Risk management
The financial risk involving loans and credits are better
analysed by using the customers past spend habits, past defaults, other
financial commitments and many socio-economic indicators. These data is
gathered from various sources in different formats. Organising them together
and getting insight into customers profile needs the help of Data science. The
outcome is minimizing loss for the financial organization by avoiding bad debt.
Improvement in Health Care services
The health care industry deals with a variety of data which
can be classified into technical data, financial data, patient information,
drug information and legal rules. All this data need to be analysed in a
coordinated manner to produce insights that will save cost both for the health
care provider and care receiver while remaining legally compliant.
Computer Vision
The advancement in recognizing an image by a computer
involves processing large sets of image data from multiple objects of same
category. For example, Face recognition. These data sets are modelled, and
algorithms are created to apply the model to newer images to get a satisfactory
result. Processing of these huge data sets and creation of models need various
tools used in Data science.
Efficient Management of Energy
As the demand for energy consumption soars, the energy
producing companies need to manage the various phases of the energy production
and distribution more efficiently. This involves optimizing the production
methods, the storage and distribution mechanisms as well as studying the
customers consumption patterns. Linking the data from all these sources and
deriving insight seems a daunting task. This is made easier by using the tools
of data science.
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