Introduction:

Data Science is a term that has gained popularity in the past decade. But, the word itself is not new, just like science. It is the combination of two different disciplines – Mathematics and Computer Science. And together, both these branches of science have taken the world by storm. 

Data is the new oil and Data Science is a key skill to make sense of this data. More importantly, it helps us derive insights that can be used to make business better. It is a highly sought-after course by students. Here is a blog on what is Data Science, Business Use cases, Problems faced in learning Data Science, and solutions.


So, What is Data Science?

A classical definition of how data can be analyzed is by applying scientific methods, algorithms, and processes. In addition, there is a common view that algorithmic techniques can not only be used to look back on what has happened but also to predict what will happen in the future. Perhaps even going a step further and suggesting choices that will lead to the best outcome.

An important part of data science is leveraging data sources to glean meaningful information and insights. By utilizing statistical techniques, programming languages, and software solutions, a data scientist can add value to the business through domain expertise, effective communication, and interpretation of results.


BUSINESS DECISION MAKING:

The following are some examples of data science being used in business decisions:

E-COMMERCE:

  • Personalized Promotional activities
  • Customer segmentation analysis
  • Market trends

FINANCE:

  • Effective investment
  • Fraud detection
  • Financial advice

HR ANALYTICS:

  • Improve hiring
  • Reduce attrition
  • Improve process


Problems faced by executives in learning Data science:

  • Discovering a structured program
  • Insufficient in terms of industrially relevant learning and how to test and improve skills
  • No expert guidance
  • Within the prescribed timeframe
  • A domain that is constantly changing, and it is difficult to adapt without a structured learning process
Solution:

      To solve the problems stated above, here is a solution:

FUTURE CONNECT

  • A premier certification in digital transformation (Industry 4.0) for the first time in India.
  • A comprehensive overview of Industry 4.0 and key management concepts
  • Expertise from industry professionals with broad international experience.
  • Faculty members from world-renowned institutions of higher education in India and abroad
  • Providing a comprehensive understanding of Industry 4.0 through T-learning.
  • An intensive course lasting 6 months
  • Pedagogy methodology for blended learning (virtual + recorded sessions + capstone project at a designated center).

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