Why Data Science is Important - Avantika University

1
Why Data Science is Important

• Engineering College In India Avantika University

2
Why Data Science is Important

• Data Science is a blend of diverse tools,
  mathematics, algorithms, and machine learning
  principles. In simple terms, Data science is the
  information that is collected from the raw data.
  The world in which we're living in is full of
  data. Today everywhere is data, and everyone
  yearns for data. The craving and appetite of data
  in today's world have increased rapidly and
  strengthened extensively.

3

• As the market is growing, the craving for data is
  also boosting. Data science consists of varied
  features. Data Science helps the IT and business
  companies to formulate decisions through
  prediction, analysis, and hypothesis. Data
  scientists collect valuable and important data,
  which later on can be utilized as a valuable
  resource in innovating the business and IT
  strategies.

4

• If we talk about the data sources of data
  science, it may be unstructured or structured.
  The collected data may be from various sources
  such as text files, financial logs, multimedia
  forms, sensors, and instruments.

5

• Well, data is important in today's world as it is
  called as the fuel in various areas of the
  industries. Data science is used in various
  sectors such as Marketing, Finance, Human
  resources, etc. Using data science, the companies
  have become so bright that they can easily sell
  and push the products as per the customer's
  demand and purchasing power. Here are a few
  examples of the usage of data science by
  different features

6
Image Recognition

• Whenever you upload a picture on Facebook, you
  get suggestions to tag your friends as the
  automatic tag option uses the face detection
  algorithm. In the same way, when you upload
  something on Google Photos, you get to see the
  face detection algorithm there.

7
Airline Route Planning

• The airline industry is well-known for bearing
  losses across the globe. Expect a few airline
  companies the service providers are facing
  issues in gaining profits and maintaining the
  ratio of occupancy. The rise in the price of
  fuels and offering heavy discounts to the
  customers has become a major challenge for
  airline companies. But now, with the help of data
  science, the airline companies can predict the
  flight delay. They can also decide whether to
  directly land or take a halt in between.

8
Fraud and Risk Detection

• Most of the severe issues for the big-big
  companies were debts and losses. Data science has
  made things easier as the probability of risk and
  threats can easily be detected.

9

• The requirement of data science analyst is
  moreover going to be required in the field of
  E-commerce and retail, Manufacturing, Banking and
  Finance, Healthcare, and the Transport sector. In
  the E-commerce sector, the implementation of data
  analysis will mark a great impact on profit,
  losses, purchases, etc. In the manufacturing
  sector, data science can help in improving
  productivity and predicting trends.

10

• In the banking and finance sector, data science
  can help in fraud and risk detection/management.
  In the transport sector, data science can help in
  managing and planning transportation networks,
  etc.

11

• For a student who aspires to enroll in top
  engineering colleges in India for making a career
  in Data Science, should have 102 with PCM/
  statistics/ Computer Science subjects.
  Considering the increasing significance of data
  in today's digital world, there are bright
  prospects of data science in the future. We hope
  you have got your answer to Why Data Science is
  important?

12
Conclusion

• Avantika University is the MIT Institute of
  Design in Ujjain, MP. It follows a unique
  learning approach where the students are
  encouraged to think out of the box. Avantika
  University is the part of reputed MIT Pune.

13

• THANK YOU