Impact of Data Science on Industry

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Data Science is the most in demand field right now. It is lucrative to not only IT field but entire industry sectors, for the benefits it entails, while dealing the complex data. It fastens your business processes from hiring and onboarding, training (HR) to manufacturing your products and to managing the finances of the entire business.  

Data Science enables companies to constantly refine their products and services, which will suit their ever-dynamic market. It assures the flow of insights into customer behavior, psychology, trends and changes in the market, with immense practicality. 

The extremely alluring part of this field is, it enables to mine and assimilate date from various resource and third-party platform including social media, so the actual peep into customer behavior, gets easier.  

Data Scientists must be flexible to understand, evaluate and analyze the entire life cycle of data. They should be able to retrieve fitful business intelligence solutions for their clients from that data. The earlier stages include analyzing and transforming the data, but later as the experience grows, a Data Scientist must be able to provide insights in business indicators to the client. 

Skillsets for Data Scientists – 

  • Some mandatory skill sets are required to understand the basics. It mainly includes statistical and scientific approach. Knowledge of maths, finance, statistics are required 
  • Various tools for data mining and data analysis like SQL, Power BI, Azure etc is a must  
  • Academic training on programming and coding languages, comes in handy for understanding purpose of data and its algorithms  
  • Later in the stages, the focus should shift from technical skillset to functional one, as often Data Scientists are expected to comprehend and provide business insights to the involved stakeholders. This is crucial stage for career progression as helping the client in decision making, is value addition.  

Addend Analytics is a Microsoft Gold Partner based in Mumbai, India, and a branch office in the U.S.

Addend has successfully implemented 100+ Microsoft Power BI and Business Central projects for 100+ clients across sectors like Financial Services, Banking, Insurance, Retail, Sales, Manufacturing, Real estate, Logistics, and Healthcare in countries like the US, Europe, Switzerland, and Australia.

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