What is Data Science?

drishti-magazine

Data science continues to evolve as one of

the most promising and in-demand career paths

for skilled professionals. Today, successful data

professionals understand that they must

advance past the traditional skills of analyzing

large amounts of data, data mining, and

programming skills.

The term “data scientist” was coined as

recently as 2008 when companies realized the

need for data professionals who are skilled in

organizing and analyzing massive amounts of

data.

What Does a Data Scientist Do?

In the past decade, data scientists have

become necessary assets and are present in

almost all organizations. These professionals

are well-rounded, data-driven individuals with

high-level technical skills who are capable of

building complex quantitative algorithms to

organize and synthesize large amounts of

information used to answer questions and drive

strategy in their organization. This is coupled

with the experience in communication and

leadership needed to deliver tangible results to

various stakeholders across an organization or

business.

Data scientists need to be curious and resultoriented,

with exceptional industry-specific

knowledge and communication skills that allow

them to explain highly technical results to their

non-technical counterparts. They possess a

strong quantitative background in statistics and

linear algebra as well as programming

knowledge with focuses in data warehousing,

mining, and modeling to build and analyzealgorithms.

They must also be able to utilize key

technical tools and skills, including:

Python

Apache Hadoop

MapReduce

Apache Spark

NoSQL databases

Cloud computing

D3

Apache Pig

Tableau

iPython notebooks

GitHub

Data Science in India :

Over the past couple of decades, Data

Science, has been recognized as one of the

most exciting IT domains in the world. Recent

reports suggest that leading countries like USA

and China are investing billions of dollars to

integrate their industries with AI. These nations

have been financing sectors like finance,

healthcare, retail, and defense to make the

presence of AI felt.

Due to the advent of Data Science in the

Indian market, the last three years were

recorded as ‘quite successful’. However, the

scenario is a bit different here. On one hand, AI

is considerably dominated by US-based firms

including Adobe, Accenture, and Microsoft.

These IT giants also do have their innovation

centers here in India.

When we look at the other side, there are

very less efforts applied by Indian companies

as far as AI grooming is concerned. Roughly

around 30% of AI research come from homebased

companies. Hence, the difference is

making quite of a lag.

The intervention of Ministry of

Commerce & Industry suggested policies

encouraging innovation in the country. Its

findings conclude on the lines of :

Need for increased investment

Extensive AI research

Reconstruction of educational curricula

Additional innovation by private sector

Now let’s see how AI is emerging and being

applied across various areas, ensuring

development at a macro level.

Finance

Each day, many financial institutions handle

multi-billion monetary transactions including

ATM withdrawals, debit/credit card payments,

deposits, online payments, and so on. It is alsoevident that considerable amount of fraud and

corruption take place hindering financial growth

of the country.

Modern ML (Machine Learning) techniques

and analytics in combination with human-based

skills are being adopted to curb mishaps. The

system recognizes potential threats and flag

them as fraudulent in order to minimize losses

beforehand. AI techniques not only create early

warning signs but also reduce human errors,

thereby increasing efficiency.

Healthcare

Presence of Artificial Intelligence in the

healthcare domain helps health managers to

analyze simple to most complicated medical

conditions. It allows them to examine

symptoms, diagnose diseases, and even

suggest medical treatments.

The medical industry is applying AI concepts

to enhance their accuracy and bringing

improvements. Apart from diagnosing diseases

and suggesting treatments, both AI and ML

algorithms are being utilized to improve the

healthcare quality as well as cutback on highend

medical costs.

Manufacturing

Manufacturing is one of the most vital

industries in our country. However, they

constantly face challenges while maintaining

logistics, product forecasting, and supply chain

management as well.

Through automation by way of AI and ML,

manufacturing companies can evidently

enhance their efficiency. It would also help

keeping unnecessary costs at bay, thereby

earning better profits. In the long term, the

manufacturing sector can expect to create

ample job opportunities and contribute to the

overall growth of the country.

Law & Order

Can AI be used for maintaining law and order

of the country? Well yes, absolutely! Indian

officials are turning towards artificial intelligence

to detect crime and take necessary steps to

limit them then and there.

Like for instance, officials are examining

CCTV cameras installed in public areas to

improve safety and security of the masses.

They analyze terabytes of CCTV data to look

for “behavioural abnormalities” that suggest if

any kind of potential threat. This way, AI and ML

prove to be useful tools in maintaining peace

and harmony of the country.

Agriculture

Last but not the least, a noticeable presence

of AI has also been seen in the field of

agriculture. Being one of the most crucial

sectors in India, agriculture takes the help of

artificial intelligence to improve produces and

minimize wastages. Farmers are integrating

traditional farming practices with AI to automate

the processes.

The ML sensors help farmers to measure

soil temperature and moisture, identify ideal

time for sowing and harvesting, and making

proper use of pesticides and fertilizers. The

above sectors show that India definitely needs

a boosted investment in both artificial

intelligence and machine learning. Due to which,

we can experience greater outputs, higher

efficiency, and increased job opportunities

across the sectors.

As per India’s leading job portal, Data

Science is currently offering more than 3500

career opportunities for both freshers and

working professionals. Here’s a brief

breakdown of Industry-wise careers in Data

Science:

IT/Software: 54.01%

Banking: 9.13%

Ecommerce: 4.33%

HR: 5.74%

Education: 3.67%