Revolution of Data Science has changed the world with its substantial impact. It is a study of data or information, what it represents, from where it is obtained and how to transform it into a valuable method when formulating business and IT policy. It is considered as a biggest asset by every organization in today’s competitive world.
It is one of the fields that find applications across various business, including communication, finance, manufacturing, healthcare, retail etc.
- The healthcare industries have benefited from Data Science as it creates a down-to-earth treatment issues, diagnostic, patient monitoring such as clinic administrative expenses and a general cost for health care. It has been a powerful weapon for fighting diabetes, various heart disease and cancer.
- The data science provides a huge opportunity for the financial firm to reinvent the business. In finance, the application of data science is Automating Risk Management, Predictive Analytics, Managing customer data, Fraud detection, Real time Analytics, Algorithmic trading, Consumer Analytics.
- In the manufacturing sector, itcan be used in a lot of ways since the companies are in need to find the latest solutions and use cases for this data. It has also been beneficial to the manufacturing companies as it speeds up execution and generates large scale process.