Page 172 - Trackpad_V5_Book 8
P. 172

PURE
               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?

                                     _________________________________________________________________







                      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. The following tools and programming languages are used by data scientists to analyse

            data and draw insights from it:




            170   Pro (Ver. 5.0)-VIII
   167   168   169   170   171   172   173   174   175   176   177