Question

• How would you define data science?
• Why has the role of data science become so important to businesses and other organizations?
• What factors have led to big data being available and accessible, even to smaller companies and organizations?

Answer 1

   Data Science is a multi-valued field which will use all types of scientific methods, mathematical formulae, various programs, algorithms to gain some knowledge from structured as well as unstructured data. The concept of data science is very similar to big data as well as data mining. It uses the most valuable and efficient and powerful algorithms and programming systems to solve complex problems.

   As we all know that most of the data scientists are maintaining very vast technological algorithms and advanced equipment to solve the critical problems. Nowadays it became a key role in the business sector as well as any other smaller organizations. As there are a few better advantages organizations chooses the field of data science. Some advantages are:

i) Data Scientists are trained in such a way that they can find the error and also they can reduce the risk that may cause any fault to the systems by using a variety of algorithms.

ii) Another major advantage is that the organizations have the right to find where and at what time their products sold best. This process can be used to find the right product and also at the right price at the right time.

iii) Another facility is to understand the opinion of the customer. So that they can feel satisfy. This is the way in which the data science sector is playing a major role in the service sector.

   There are a few factors that are responsible for the big data which gives access to even for smaller organizations also. In which a few factors are:

i) Big data is somewhat user-friendly and also much more affordable. With the lower price only it can provide it's access to the smaller and bigger organizations. As it is user-friendly it is very much easy for the usage also. As there are many analytical models which are very available to the users but many choose this big data because there are many factors of the big data.

ii) Whatever the investment we have invested that is protected by the big data by using various securing algorithms. It also has the capability of undoing the data. If our stored data or invested information is went somewhere then the big data can get it back with no loss of even a single line also.

iii) Many smaller organizations are showing interest in joining with big data. Because the smaller organizations are seeing the growth of the other bigger organizations. So that these smaller organizations also wish to grow like the other bigger organizations. These are the major factors which lead to accessibility and availability even for the smaller organizations also in a very efficient manner.