Data
2
min read
Data Science for Business: how to make the most out of data science
Written by
Talent Garden
Don't you want to read? Try listening to the article in audio mode 🎧
Many companies base their activities on data collection, made possible by modern technology, which allows for the creation and storage of an ever-increasing amount of information. To get an idea of the amount of available data just think of the number of photos uploaded online on social networks, including Facebook and Instagram, or all the emails and files received daily by each of us.
This huge amount of data can offer advantages in terms of innovation and advantages over competitor companies all over the world, but only if we are able to interpret it and extract meaningful insights. This is where data science and business analytics come in.
Data Science and Business Analytics
Data science is the domain that deals with statistics, algorithms and knowledge in the field of computer science. Those involved in data science are the so-called data scientists, who combine a wide range of skills to analyse data collected from the web, smartphones, customers, sensors and other sources to find the solution to a given problem. Below are some of the key skills required in order to become a data scientist:- Statistical analysis - to be familiar with statistical tests and be able to detect patterns and anomalies.
- Programming - since data scientists use large data sets, to find out the answers to problems, you will have to write programmes generally in programming languages such as Python and R and use databases for saving data.
- Machine learning - in order to learn about algorithms and statistical models related to the world of artificial intelligence.
- Interpreting data - since it is important, as business analysts, to have the ability to filter non-relevant data and instead highlight the most significant ones.
- Analytical reasoning - which consists of logical reasoning, critical thinking, communication, research and data analysis.
- Mathematical and statistical skills - which give the possibility to collect, organise and interpret numerical data for modeling, estimation and forecasting in business analysis.
Data Science vs Business Analytics
The terms “Business Analytics” and “Data Science” are often misused as synonyms, but in the previous paragraph we explained their differences. However, there is an indisputable commonality: both sectors are experiencing dizzying growth. The market size in 2025 is expected to exceed $100 billion for both fields. This means we can expect increased demand for these two profiles very soon. As a matter of fact, there are many aspiring professionals who wish to start a career in "Business Analytics" or "Data Science" but think that such jobs are too difficult or maybe do not find a way to obtain the necessary skills. If you are interested in these areas, you should consider the "Business Data Analysis Master" proposed by Talent Garden. Within 120 hours of lessons divided into 6 modules you will learn to read and interpret data, to visualise business insights and communicate them effectively, and finally to use dashboards to manage and analyse large volumes of data in a strategic way for business development. Besides being growing and innovative sectors, the economic aspect is certainly a plus for these areas because salaries can exceed $100,000 a year in some countries. Hence, if you are fascinated by data science and business analytics, this is a field you must take into serious consideration.
Article updated on: 09 August 2023
Don't Waste Your Talent. Turn It Into a Career With a Course That Fits Your Needs!
Talent Garden is your Digital Skills Academy, offering courses in Digital Marketing, UX Design, Digital HR and Data Analysis designed to launch your career.
Keep reading
3
min read
The 6 Biggest, Most Common Myths About Data Science
The field of Data Science is diverse, with many people from many different backgrounds, working in many different ...
Talent Garden
08/10/2021
2
min read
Reading consumers’ minds through neuro-science
Emotions are at the very basis of consumers’ choices, so what if it was possible to detect the processes beyond those ...
Talent Garden
06/12/2016
3
min read
The Difference Between Data Engineer, Data Scientist, and Data Analyst
In today’s modern world, organizations rely on data science to make informed decisions and strategies. As a result, the ...
Talent Garden
23/09/2021
2
min read
Meet our Faculty: Alberto Vera Llop Scientific Coordinator, Talent Garden Innovation School
“You have to move, always keep moving.” Alberto Vera Llop Service and Product Designer at Hecho.Company and Scientific ...
Talent Garden
08/12/2019