Technology

Data science will now predict the future!

All the old school Business Intelligence (BI) is trying its level best to find patterns in what exactly happened. To make accurate and better decisions, users have access to all the smart reports that gives them wide-ranging insights. These days, scientists have taken BI to another level as a new specialization has been included within the information technology (IT): Data Science.

The SMEs of Business Intelligence need two skills very importantly:

  • They should know entirely about the industry they work in, the obligations it faces, how the data flows through the specific business processes and so on.
  • All the Business Intelligence (BI) consultants should know of how to seizure and assimilate that particular data, to set up the complex data warehouses, smart reporting, and OLAP cubes.

The role of the BI specialists have tremendously evolved further with the help of big data as multiple sources and multiple formats make much larger datasets available. New tools are prevailing in the industry to accumulate and sort data quickly. Batch data calculations that used to take place and happen overnight, now barely takes an hour or even some minutes. To bring BI a bit closer to the actual or even real-time businesses, it enhances the data stewards. Note, that you need to make decisions based on today’s insights, not the past fortnights.

Let’s go ahead, take a step further and foretell of what tomorrow will bring and work based on the particular information. For an instance, you can take a patient’s data into consideration that is increasingly being digitized: with this, you will be able to use this precise data to understand and determine how to best design the treatments and allocate all the resources. That is where the new data scientist comes in from. They use statistical techniques to make all the predictions by gathering and sorting data. Therefore, the new data scientists gave strong programming skills, decent perceptions into the available data sources and, apart from all this, they are mathematicians and statisticians. This combination is very difficult to find these days.

Nowadays, data science often sounds like a buzzword. But you shall know that the blend of data science and big data will lead to new services, new advanced analytics feature and interesting business cares.

Note: Without big data, you are blind and deaf in the middle of a freeway. Big data will tell you how many customers you have won or lost but not necessarily why. This is the intelligence that can really make a difference.

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