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The number of roles for data scientists has grown by 650% since 2012. About 11.5
Million jobs will be created by 2026 according to the U.S. Bureau of Labour Statistics. FACT
SOLVING PROBLEMS WITH DATA SCIENCE
Big data is different from traditional business intelligence tools. It can work with different data
forms and it is designed to acquire, manage and analyse huge amounts of data at optimum
velocity and gain accurate insight.
Big data is not about analysing large amounts of data but ensuring that the data is reliable,
auditable, and authentic as well as providing the correct insight. There are two approaches to
advanced analytics using big data:
DESCRIPTIVE ANALYTICS
It is a technique of interpreting historical data to derive insights and patterns. It tells us what happened
in the past. Stock analysis is an example of descriptive analytics because while predicting stock
data, the previous pattern is analysed and then that analysis is used to make a prediction.
PREDICTIVE ANALYTICS
It uses machine learning to derive insights and predict possible outcomes. In artificial intelligence/
machine learning, the outcomes are probabilistic that basically help us predict what could happen.
Weather forecasting is an example of predictive analytics.
uiz Bee Which type of data is a combination of different types of data?
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TOOLS FOR DATA SCIENCE
Traditional statistical methodologies are used by data scientists which form the backbone
of machine learning algorithms. Deep learning algorithms are also used to generate robust
predictions.
Let us study tools and programming languages that are used by data scientists to analyse data
and draw insights from it.
Introduction to SDGs and Data Science 157

