UNIT 1

What is business analytics?

Historical Overview of data analysis
Data Scientist vs. Data Engineer vs. Business Analyst
Career in Business Analytics
What is data science?
Applications for data science
Data Scientists Roles and Responsibility

What is business analytics?

Business analytics (BA) is a set of disciplines and technologies for solving business problems
using data analysis, statistical models and other quantitative methods. It involves an iterative,
methodical exploration of an organization's data, with an emphasis on statistical analysis, to
drive decision-making.

Data-driven companies treat their data as a business asset and actively look for ways to turn it
into a competitive advantage. Success with business analytics depends on data quality, skilled
analysts who understand the technologies and the business, and a commitment to using data
to gain insights that inform business decisions.

Let’s start by differentiating between data analytics and traditional analytics. The terms are

often used interchangeably, but a distinction does exist. Traditional data analytics refers to
the process of analyzing massive amounts of collected data to get insights and predictions.
Business data analytics (sometimes called business analytics) takes that idea, but puts it in the
context of business insight, often with prebuilt business content and tools that expedite the
analysis process.

Specifically, business analytics refers to:

 Taking in and processing historical business data

 Analyzing that data to identify trends, patterns, and root causes
 Making data-driven business decisions based on those insights

In other words, data analytics is more of a general description of the modern analytics
process. Business analytics implies a narrower focus and has functionally become more
prevalent and more important for organizations around the globe as the overall volume of
data has increased.

Using cloud analytics tools, organizations can consolidate data from different departments—
sales, marketing, HR, and finance—for a unified view that shows how one department’s
numbers can influence the others. Further, tools, such as visualization, predictive insights,
and scenario modeling deliver all kinds of unique insights across an entire organization.

How business analytics works

Before any data analysis takes place, BA starts with several foundational processes:
 Determine the business goal of the analysis.
 Select an analysis methodology.
 Get business data to support the analysis, often from various systems and sources.
 Cleanse and integrate data into a single repository, such as a data warehouse or data mart.

Initial analysis is typically performed on a smaller sample data set of data. Analytics tools
range from spreadsheets with statistical functions to complex data mining and predictive
modeling applications. Patterns and relationships in the raw data are revealed. Then new
questions are asked, and the analytic process iterates until the business goal is met.

Deployment of predictive models involves a statistical process known as scoring and uses
records typically located in a database. Scores help enterprises make more informed, real-
time decisions within applications and business processes.

See the real-time benefits that can result from effective analytics.

BA also supports tactical decision-making in response to unforeseen events. Often the

decision-making is automated using artificial intelligence to support real-time responses.
Types of business analytics
Different types of business analytics include the following:

 Descriptive analytics, which tracks key performance indicators (KPIs) to understand the
present state of a business;
 Predictive analytics, which analyses trend data to assess the likelihood of future
outcomes; and
 Prescriptive analytics, which uses past performance to generate recommendations for
handling similar situations in the future.

A Diagram outlining the difference between predictive, descriptive and prescriptive analytics

Some schools of thought also include a fourth approach, diagnostic analytics, which is like
descriptive analytics. It analyses the state of a business and diagnoses why certain events or
outcomes happened.

Using business analytics tools

Business data analytics has many individual components that work together to provide
insights. While business analytics tools handle the elements of crunching data and creating
insights through reports and visualization, the process actually starts with the infrastructure
for bringing that data in. A standard workflow for the business analytics process is as
follows:

1. Data collection: Wherever data comes from, be it IoT devices, apps, spreadsheets, or

social media, all of that data needs to get pooled and centralized for access. Using
a cloud database makes the collection process significantly easier.
2. Data mining: Once data arrives and is stored (usually in a data lake), it must be
sorted and processed. Machine learning algorithms can accelerate this by recognizing
 patterns and repeatable actions, such as establishing metadata for data from specific
sources, allowing data scientists to focus more on deriving insights rather than manual
logistical tasks.
3. Descriptive analytics: What is happening and why is it happening? Descriptive data
analytics answers these questions to build a greater understanding of the story behind
the data.
4. Predictive analytics: With enough data—and enough processing of descriptive
analytics —business analytics tools can start to build predictive models based on
trends and historical context. These models can thus be used to inform future
decisions regarding business and organizational choices.
5. Visualization and reporting: Visualization and reporting tools can help break down
the numbers and models so that the human eye can easily grasp what is being
presented. Not only does this make presentations easier, these types of tools can help
anyone from experienced data scientists to business users quickly uncover new
insights.

HISTORICAL OVERVIEW OF DATA ANALYTICS

Historically speaking, a simple definition of analytics is “the study of analysis.” A more
useful, more modern description would suggest “data analytics” is an important tool for
gaining business insights and providing tailored responses to customers. Data analytics,
sometimes abbreviated to “analytics,” has become increasingly important for organizations of
all sizes. The practice of data analytics has gradually evolved and broadened over time,
providing many benefits.
The use of analytics by business can be found as far back as the 19th century, when Frederick
Winslow Taylor initiated time management exercises. Another example is when Henry Ford
measured the speed of assembly lines. In the late 1960s, analytics began receiving more
attention as computers became decision-making support systems.
With the development of big data, data warehouses, the cloud, and a variety of software and
hardware, data analytics has evolved, significantly. Data analytics involves the research,
discovery, and interpretation of patterns within data. Modern forms of data analytics have
expanded to include:
 Predictive Analytics
 Big Data Analytics
 Cognitive Analytics
 Prescriptive Analytics
 Descriptive Analytics
 Enterprise Decision Management
 Retail Analytics
 Augmented Analytics
 Web Analytics
 Call Analytics
Statistics and Computers
Data analytics is based on statistics. It has been surmised statistics were used as far back as
Ancient Egypt for building pyramids. Governments worldwide have used statistics based on
censuses, for a variety of planning activities, including taxation. After the data has been
collected, the goal of discovering useful information and insights begins. For example, an
analysis of population growth by county and city could determine the location of a new
hospital.
The development of computers and the evolution of computing technology has dramatically
enhanced the process of data analytics. In 1880, prior to computers, it took over seven years
for the U.S. Census Bureau to process the collected information and complete a final report.
In response, inventor Herman Hollerith produced the “tabulating machine,” which was used
in the 1890 census. The tabulating machine could systematically process data recorded on
punch cards. With this device, the 1890 census was finished in 18 months.
Relational Databases and Non-Relational Databases
Relational databases were invented by Edgar F. Codd in the 1970s and became quite popular
in the 1980s. Relational databases (RDBMs), in turn, allowed users to write in sequel (SQL)
and retrieve data from their database. Relational databases and SQL provided the advantage
of being able to analyze data on demand, and are still used extensively. They are easy to work
with, and very useful for maintaining accurate records. On the negative side, RDBMs are
generally quite rigid and were not designed to translate unstructured data.
During the mid-1990s, the internet became extremely popular, but relational databases could
not keep up. The immense flow of information combined with the variety of data types
coming from many different sources led to non-relational databases, also referred to as
NoSQL. A NoSQL database can translate data using different languages and formats quickly
and avoids SQL’s rigidity by replacing its “organized” storage with greater flexibility.
The development of NoSQL was followed by changes on the internet. Larry Page and Sergey
Brin designed Google’s search engine to search a specific website, while processing and
analyzing big data in distributed computers. Google’s search engine can respond in a few
seconds with the desired results. The primary points of interest in the system are its
scalability, automation, and high performance.
Data Warehouses
In the late 1980s, the amount of data being collected continued to grow significantly, in part
due to the lower costs of hard disk drives. During this time, the architecture of data
warehouses was developed to help in transforming data coming from operational systems into
decision-making support systems. Data warehouses are normally part of the cloud, or part of
an organization’s mainframe server. Unlike relational databases, a data warehouse is
normally optimized for a quick response time to queries. In a data warehouse, data is often
stored using a timestamp, and operation commands, such as DELETE or UPDATE, are used
less frequently. If all sales transactions were stored using timestamps, an organization could
use a data warehouse to compare the sales trends of each month.
Business Intelligence
The term business intelligence (BI) was first used in 1865, and was later adapted by Howard
Dresner at Gartner in 1989, to describe making better business decisions through searching,
gathering, and analyzing the accumulated data saved by an organization. Using the term
“business intelligence” as a description of decision-making based on data technologies was
both novel and far-sighted. Large companies first embraced BI in the form of analyzing
customer data systematically, as a necessary step in making business decisions.
Data Mining
Data mining began in the 1990s and is the process of discovering patterns within large data
sets. Analyzing data in non-traditional ways provided results that were both surprising and
beneficial. The use of data mining came about directly from the evolution of database and
data warehouse technologies. The new technologies allow organizations to store more data,
while still analyzing it quickly and efficiently. As a result, businesses started predicting the
potential needs of customers, based on an analysis of their historical purchasing patterns.
However, data can be misinterpreted. Someone in the trades, having purchased two pairs of
blue jeans online, probably won’t want to buy jeans for another two or three years. Targeting
this person with blue jean advertisements is both a waste of time and an irritant to the
potential customer.
Big Data
In 2005, big data was given that name by Roger Magoulas. He was describing a large amount
of data, which seemed almost impossible to cope with using the Business Intelligence tools
available at the time. In the same year, Hadoop, which could process big data, was developed.
Hadoop’s foundation was based on another open-source software framework called Nutch,
which was then merged with Google’s MapReduce.
Apache Hadoop is an open-source software framework, which can process both structured
and unstructured data, streaming in from almost all digital sources. This flexibility allows
Hadoop (and its sibling open-source frameworks) to process big data. During the late 2000s,
several open source projects, such as Apache Spark and Apache Cassandra came about to
deal with this challenge.
Analytics in the Cloud
In its early form, the cloud was a phrase used to describe the “empty space” between users
and provider. Then, in 1997, Emory University professor Ramnath Chellappa described cloud
computing as a new “computing paradigm where the boundaries of computing will be
determined by economic rationale, rather than technical limits alone.”
In 1999, Salesforce provided a very early example of how to use cloud computing
successfully. Though primitive by today’s standards, Salesforce used the concept to develop
the idea of delivering software programs by way of the internet. Programs (or applications)
could be accessed or downloaded by any person with internet access. An organization
manager could purchase software in a cost-effective, on-demand method without leaving the
office. As businesses and organizations gained a better understanding of the cloud’s services
and usefulness, it gained in popularity.
The cloud has evolved significantly since 1999, with customers “renting the services,” rather
than acquiring hardware and software for the same purpose. Vendors are now responsible for
all the trouble-shooting, backups, administration, capacity planning, and maintenance. And,
for several business projects, the cloud is simply easier and more efficient to use. The cloud
now has significantly large amounts of storage, availability to multiple users simultaneously,
and the ability to handle multiple projects.
Predictive Analytics
Predictive analytics is used to make forecasts about trends and behavior patterns. Predictive
analytics uses several techniques taken from statistics, data modeling, data mining, artificial
intelligence, and machine learning to analyze data in making predictions. Predictive models
can analyze both current and historical data to understand customers, purchasing patterns,
procedural problems, and in predicting potential dangers and opportunities for an
organization.
Predictive analytics first started in the 1940s, as governments began using the early
computers. Though it has existed for decades, predictive analytics has now developed into a
concept whose time has come. With more and more data available, organizations have begun
using predictive analytics to increase profits and improve their competitive advantage. The
continuous growth of stored data, combined with an increasing interest in using data to gain
Business Intelligence, has promoted the use of predictive analytics.
Cognitive Analytics
Most organizations deal with unstructured data. Making sense of this unstructured data is not
something humans can easily do. Cognitive analytics merges a variety of applications to
provide context and answers. Organizations can collect data from several different sources,
and cognitive analytics can examine the unstructured data in-depth, offering decision-makers
a better understanding of their internal processes, customer preferences, and customer loyalty.
Augmented Analytics
Augmented analytics provides automated Business Intelligence (and insights) by using
natural language processing and machine learning. It “automates” data preparation and
enables data sharing. Augmented analytics provides clear results, and access to sophisticated
tools, allowing researchers and managers to make daily decisions with a high degree of
confidence. It allows decision-makers to gain insights and act quickly and confidently.
Ultimately, augmented analytics attempts to reduce the work of data scientists by automating
the steps used in gaining insights and business intelligence. An augmented analytics engine
will automatically process an organization’s data, clean the data, analyze it, and then produce
insights leading to instructions for executives or salespeople.
Portfolio Analytics
Portfolio analytics is often used by a lending agency or a bank, and is a collection of accounts
with varying values and risks. The accounts in the portfolio may include information about
their client’s social status (poor, middle-class, wealthy), their geographical location, and
many other factors. Portfolio analytics allow the lender to balance the returns on a loan with
the risk for default. The risk of the loan is determined by such things as income, the success
of previous loans, and declarations of bankruptcy.
HR Analytics
Originally called “people analytics,” HR analytics is behavioural data that is used in
understanding how people work and how they change the way organizations are managed.
HR analytics has also been called workforce analytics, talent analytics, talent insights, people
insights, colleague insights, and human capital analytics. HR analytics is used to help
businesses manage their human resources, and is a strategic tool for analyzing and forecasting
trends in the labor markets.
Customer Journey Analytics
The customer journey deals with the holistic experience customers go through while
interacting with an organization, or brand. Instead of focusing on a portion of the experience,
the customer journey records the full experience of a customer.
Customer journey analytics examines the recorded information and provides insights about
customer experiences (often in real-time). It helps in understanding the customer, and
influences how companies design the customer experience. Customer journey analytics
supports a systematic method of evaluating and monitoring the customer’s journey and
improving the process. Developing and delivering the optimal customer experience is the
ultimate goal.
 DATA SCIENTIST VS. DATA ENGINEER VS. BUSINESS ANALYST
Who is a Data Analyst, Data Engineer and Data Scientist?
Data Analyst vs Data Engineer vs Data Scientist

Data Analyst Data Engineer Data Scientist

Data Engineer
Data Analyst analyzes A data scientist analyses
involves in preparing data.
numeric data and uses it and interpret complex data. They
They develop, constructs, tests
to help companies make are data wranglers who organize
& maintain complete
better decisions. (big) data.
architecture.

 Data Analyst
Most entry-level professionals interested in getting into a data-related job start off as Data
analysts. Qualifying for this role is as simple as it gets. All you need is a bachelor’s degree
and good statistical knowledge. Strong technical skills would be a plus and can give you an
edge over most other applicants. Other than this, companies expect you to understand data
handling, modeling and reporting techniques along with a strong understanding of the
business.
 Data Engineer
Data Engineer either acquires a master’s degree in a data-related field or gather a good
amount of experience as a Data Analyst. A Data Engineer needs to have a strong technical
background with the ability to create and integrate APIs ( application programming interface).
They also need to understand data pipelining and performance optimization. 
 Data Scientist
Data Scientist is the one who analyses and interpret complex digital data. While there are
several ways to get into a data scientist’s role, the most seamless one is by acquiring enough
experience and learning the various data scientist skills. These skills include advanced
statistical analyses, a complete understanding of machine learning, data conditioning etc.

For a better understanding of these professionals, let’s dive deeper and understand their
required skill-sets.
Skill-Sets
The below table illustrates the different skill sets required for Data Analyst, Data Engineer
and Data Scientist:
Data Analyst vs Data Engineer vs Data Scientist Skill Sets

Data Analyst Data Engineer Data Scientist

Data Warehousing & ETL
Data Warehousing Statistical & Analytical skills
(Extract, transform, and load)
Adobe & Google Advanced programming
Data Mining
Analytics knowledge
Programming Machine Learning & Deep
Hadoop-based Analytics
knowledge learning principles
Scripting & Statistical In-depth knowledge of SQL/ In-depth programming knowledge
skills database (SAS/R/ Python coding)
Reporting & data Data architecture & pipelining
 Hadoop-based analytics
visualization
Machine learning concept
SQL/ database
knowledge  Data optimization
knowledge
Spread-Sheet Scripting, reporting & data
 Decision making and soft skills
knowledge visualization

As mentioned above, a data analyst’s primary skill set revolves around data acquisition,
handling, and processing. A data engineer, on the other hand, requires an intermediate level
understanding of programming to build thorough algorithms along with a mastery of statistics
and math! And finally, a data scientist needs to be a master of both worlds. Data, stats, and
math along with in-depth programming knowledge for Machine Learning and Deep Learning.
Now that we have a complete understanding of what skill sets you need to become a data
analyst, data engineer or data scientist, let’s look at what the typical roles and responsibilities
of these professionals.
Next, let us compare the different roles and responsibilities of a data analyst, data engineer
and data scientist in their day to day life. 
Roles and Responsibilities
The roles and responsibilities of a data analyst, data engineer and data scientist are quite
similar as you can see from their skill-sets. Refer the below table for more understanding:
Data Analyst vs Data Engineer vs Data Scientist Roles

Data Analyst Data Engineer Data Scientist

Pre-processing and data Develop, test & maintain  Responsible for developing
gathering architectures Operational Models
 Emphasis on
 Carry out data analytics and
representing data via Understand programming and
optimization using machine
reporting and its complexity
learning & deep learning
visualization
Responsible for
Deploy ML & statistical  Involved in strategic planning for
statistical analysis &
models data analytics
data interpretation
Ensures data acquisition Building pipelines for various  Integrate data & perform ad-hoc
& maintenance ETL operations analysis
Optimize Statistical Ensures data accuracy and Fill in the gap between the
Efficiency & Quality flexibility stakeholders and customer

CAREERS IN BUSINESS ANALYTICS

1. Business Analyst
A business analyst is responsible for improving a company’s processes, products, services
and systems. They must continually look for areas that have a scope for improvement. BAs
must identify what’s technologically and financially feasible options for their organization. 
They must have strong research skills to find the organization’s weak spots and make
improvements accordingly. Apart from research skills, business analysts must also have
strong communication skills as they work with multiple departments, including the IT and
financial reporting teams. 
A business analytics job has relevance in almost every field, making it much more
employable. Some of the industry applications of business analytics are mentioned below-
1. E-Commerce
2. Education
3. Finance
4. Banking
5. Agriculture
6. Logistics
7. Government
8. Manufacturing
Business analytics, through its research and methods, allows the business to identify and
develop strategies to mitigate the risk. Personalization of the products and services can occur
once the data has been analyzed. Business analytics also aids in acquiring and retaining users.
2. Data Analyst
A data analyst is responsible for using data to gather information on particular topics. They
have to conduct surveys and collect the information necessary for performing the analysis.
Data analysts are responsible for presenting the data in an easy-to-understand manner as well.
They use Microsoft Access, SQL, Microsoft Excel, and many other technologies. Other
essential skills for this role are Statistical Analysis, Data Management, and Reporting. 
Below mentioned are the roles and responsibilities of a data analyst-
1. Collect data
2. Analyze the data
3. Use statistical methods and techniques
4. Generate reports
5. Identify the patterns or trends in the data
6. Database management
 Some of the skills that are required from a data analyst are mentioned below-
1. SQL
2. Data management
3. Data visualization
4. MATLAB
5. Data cleaning
6. Python
7. R
8. Linear Algebra and Calculus
Proficiency in the skills sets open more chances for employability and ensures steady growth
in the industry. Business analytics job opportunities in India are numerous, and data analysis
is one of those.
3. HR Analyst
An HR analyst (human resources analyst) uses computer applications and techniques to
analyze human resources data. They gather, research, analyze, and use the data to find and
share valuable business information with the management. This information helps the
organization find better candidates, motivate the current employees, and fix staffing
problems. 
Some of the roles and responsibilities are mentioned below-
1. Trend analysis for employee purpose
2. Statistics analyses
3. Attrition identification
4. Performance identification
5. Relationship management
HR analysis brings a new dimension to the role of HR, where professionals get included in
strategy making as the data reflects hiring processes and brings more improvement to the
hiring process. 
HR analysis increases the employee experience as it brings a productive workforce. It helps
in identifying the aspects of employee upskilling and training. 
4. Financial Analyst
Every company has to find ways to use its profits most efficiently. To find the best uses for
their earnings, they rely on financial analysts. Financial analysts have to study the recent
market trends and consider the microeconomic and macroeconomic factors and the
demographics to help the company make suitable investments. 
They must understand how the company invests its resources and how secure those
investments are. Financial analysts advise on protecting the company’s current wealth in
harsh times and growing the same. 
For example, they might help the executive board determine how risky a particular
investment is to help them make better-informed financial decisions. 
Some of the roles and responsibilities of a financial analyst are mentioned below-
1. Analyze the financial data and make predictions
2. Reports generation
3. Identify investment opportunities and advise
4. Profit/ Loss analysis 
5. Financial planning
6. Advice on transactions
7. Portfolio management
8. Corporate development
Some of the skills required for procuring highly compensating  are mentioned below-
1. Financial skills
2. Analytical skills
3. Business valuation
4. Financial modelling
5. MS Excel
5. Supply Chain Analyst 
Supply chain analysts have to analyze the supply chain of their organization and enhance the
same. They work with other organization teams to determine if the current supply chain is
optimal and how it can improve. 
For example, a supply chain analyst might find faults in their organization’s current
warehousing system and suggest a better one to make the operation more efficient. They
work during regular work hours and might have to perform site visits occasionally. 
Some of the responsibilities of a supply chain analyst are mentioned below-
1. Collecting the data
2. Analyzing the data
3. Operation management
4. Inventory analysis
5. Analyzing trends
Some of the skills required from a supply chain analyst are mentioned below-
1. Quantitative analysis
2. Operations
3. Inventory 
4. Problem- solving
5. Decision- making
6. Critical analysis
6. Marketing Analyst
A marketing analyst is responsible for helping businesses gather insights on their products
and services from a marketing perspective. They analyze the marketing programs and
industry trends using customer profiling, data analysis, and predictive statistics.
Marketing analysts work with various departments of an organization to prepare and present
findings to clients. They look for opportunities for new marketing campaigns and generate
sales forecasts. Their generated insights help companies in getting new customers, retaining
old clients, and boosting their revenue.  
Some of the roles and responsibilities for a marketing analyst are mentioned below-
1. Analyze data
2. Identify the patterns or trends
3. Draw actionable insights
4. Strategy creation for the company’s efforts.
The skills and responsibilities of a marketing analyst are mentioned below-
1. Market Research
2. Marketing communications
3. Marketing strategy
4. MS Excel 
5. Statistical literacy
6. Communication
7. Data Scientist
A data scientist is responsible for finding valuable insights from large quantities of data to
help their company make better-informed decisions. They use various processes, algorithms,
and scientific methods to gather insights from unstructured and structured data. 
They wrangle, clear, and filter the data to make it usable for analysis. Data scientists use
machine learning algorithms and deep learning, and additional tech skills to perform their
 duties. They also have excellent story-telling skills to share their insights with a non-tech
audience (such as stakeholders). 
Data being a core of any industry, it becomes important to work with data that it makes logic
and serves a purpose to solve business problems. Data science has applicability in almost
every industry such as government, banking, manufacturing, e- commerce, education, retail,
transportation, etc. The industry applicability increases the chances of the employability for a
data scientist. 
Some of the skills required for data scientist are mentioned below-
1. Computing 
2. Statistical analysis
3. Data visualization
4. Programming
5. Mathematics
6. Data Wrangling
7. Report generation
8. Communication
9. Data analysis 
DATA SCIENCE
Data Science is the deep study of a large quantity of data, which involves extracting some
meaningful from the raw, structured, and unstructured data. The extracting out meaningful
data from large amounts use processing of data and this processing can be done using
statistical techniques and algorithm, scientific techniques, different technologies, etc. It
uses various tools and techniques to extract meaningful data from raw data. Data Science is
also known as the Future of Artificial Intelligence.
For Example, Jagroop loves books to read but every time when he wants to buy some books
he was always confused that which book he should buy as there are plenty of choices in
front of him. This Data Science Technique will useful. When he opens Amazon he will get
product recommendations on the basis of his previous data. When he chooses one of them
he also gets a recommendation to buy these books with this one as this set is mostly bought.
So all Recommendation of Products and Showing set of books purchased collectively is one
of the examples of Data Science.
APPLICATIONS OF DATA SCIENCE
1. In Search Engines
The most useful application of Data Science is Search Engines. As we know when we want
to search for something on the internet, we mostly used Search engines like Google, Yahoo,
Safari, Firefox, etc. So Data Science is used to get Searches faster.
For Example, When we search something suppose “Data Structure and algorithm courses ”
then at that time on the Internet Explorer we get the first link of GeeksforGeeks Courses.
This happens because the GeeksforGeeks website is visited most in order to get information
regarding Data Structure courses and Computer related subjects. So this analysis is Done
using Data Science, and we get the Topmost visited Web Links.
2. In Transport
Data Science also entered into the Transport field like Driverless Cars. With the help of
Driverless Cars, it is easy to reduce the number of Accidents.
For Example, In Driverless Cars the training data is fed into the algorithm and with the
help of Data Science techniques, the Data is analyzed like what is the speed limit in
Highway, Busy Streets, Narrow Roads, etc. And how to handle different situations while
driving etc.
3. In Finance
Data Science plays a key role in Financial Industries. Financial Industries always have an
issue of fraud and risk of losses. Thus, Financial Industries needs to automate risk of loss
analysis in order to carry out strategic decisions for the company. Also, Financial Industries
uses Data Science Analytics tools in order to predict the future. It allows the companies to
predict customer lifetime value and their stock market moves. 

For Example, In Stock Market, Data Science is the main part. In the Stock Market, Data
Science is used to examine past behavior with past data and their goal is to examine the
future outcome. Data is analyzed in such a way that it makes it possible to predict future
stock prices over a set timetable.
4. In E-Commerce
E-Commerce Websites like Amazon, Flipkart, etc. uses data Science to make a better user
experience with personalized recommendations.
For Example, When we search for something on the E-commerce websites we get
suggestions similar to choices according to our past data and also we get recommendations
according to most buy the product, most rated, most searched, etc. This is all done with the
help of Data Science.
5. In Health Care
In the Healthcare Industry data science act as a boon. Data Science is used for:
 Detecting Tumor.
 Drug discoveries.
 Medical Image Analysis.
 Virtual Medical Bots.
 Genetics and Genomics.
 Predictive Modeling for Diagnosis etc.
6. Image Recognition
Currently, Data Science is also used in Image Recognition. For Example, When we upload
our image with our friend on Facebook, Facebook gives suggestions Tagging who is in the
picture. This is done with the help of machine learning and Data Science. When an Image is
Recognized, the data analysis is done on one’s Facebook friends and after analysis, if the
faces which are present in the picture matched with someone else profile then Facebook
suggests us auto-tagging.  
7. Targeting Recommendation
Targeting Recommendation is the most important application of Data Science. Whatever
the user searches on the Internet, he/she will see numerous posts everywhere. This can be
explained properly with an example: Suppose I want a mobile phone, so I just Google
search it and after that, I changed my mind to buy offline. Data Science helps those
companies who are paying for Advertisements for their mobile. So everywhere on the
internet in the social media, in the websites, in the apps everywhere I will see the
recommendation of that mobile phone which I searched for. So this will force me to buy
online.
8. Airline Routing Planning
With the help of Data Science, Airline Sector is also growing like with the help of it, it
becomes easy to predict flight delays. It also helps to decide whether to directly land into
the destination or take a halt in between like a flight can have a direct route from Delhi to
the U.S.A or it can halt in between after that reach at the destination.
9. Data Science in Gaming
In most of the games where a user will play with an opponent i.e. a Computer Opponent,
data science concepts are used with machine learning where with the help of past data the
Computer will improve its performance. There are many games like Chess, EA Sports, etc.
will use Data Science concepts.
10. Medicine and Drug Development
The process of creating medicine is very difficult and time-consuming and has to be done
with full disciplined because it is a matter of Someone’s life. Without Data Science, it takes
lots of time, resources, and finance or developing new Medicine or drug but with the help
of Data Science, it becomes easy because the prediction of success rate can be easily
determined based on biological data or factors. The algorithms based on data science will
forecast how this will react to the human body without lab experiments.
11. In Delivery Logistics
Various Logistics companies like DHL, FedEx, etc. make use of Data Science. Data
Science helps these companies to find the best route for the Shipment of their Products, the
best time suited for delivery, the best mode of transport to reach the destination, etc.
12. Autocomplete
AutoComplete feature is an important part of Data Science where the user will get the
facility to just type a few letters or words, and he will get the feature of auto-completing the
line. In Google Mail, when we are writing formal mail to someone so at that time data
science concept of Autocomplete feature is used where he/she is an efficient choice to auto-
complete the whole line.  Also in Search Engines in social media, in various apps,
AutoComplete feature is widely used

DATA SCIENTIST ROLES AND RESPONSIBILITIES

Data scientists collaborate closely with business leaders and other key players to comprehend
company objectives and identify data-driven strategies for achieving those objectives. A data
scientist’s job is to gather a large amount of data, analyze it, separate out the essential
information, and then utilize tools like SAS, R programming, Python, etc. to extract insights
that may be used to increase the productivity and efficiency of the business. Depending on an
organization’s needs, data scientists have a wide range of roles and responsibilities. The
following is a list of some of the data scientist roles and responsibilities:

 Collect data and identify data sources

 Analyze huge amounts of data, both structured and unstructured
 Create solutions and strategies to business problems
 Work with team members and leaders to develop data strategy
 To discover trends and patterns, combine various algorithms and modules
 Present data using various data visualization techniques and tools
 Investigate additional technologies and tools for developing innovative data strategies
 Create comprehensive analytical solutions, from data gathering to display; assist in
the construction of data engineering pipelines
 Supporting the data scientists, BI developers, and analysts team as needed for their
projects Working with the sales and pre-sales team on cost reduction, effort
estimation, and cost optimization
 To boost general effectiveness and performance, stay current with the newest tools,
trends, and technologies
 collaborating together with the product team and partners to provide data-driven
solutions created with original concepts
 Create analytics solutions for businesses by combining various tools, applied
statistics, and machine learning
 Lead discussions and assess the feasibility of AI/ML solutions for business processes
and outcomes
 Architect, implement, and monitor data pipelines, as well as conduct knowledge
sharing sessions with peers to ensure effective data use