What Are The Advantages And Disadvantages Of Data Science

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Data science is a field which is composed of computer science, math and statistics, and domain expertise that seeks to derive insight from data. Data science is considered as the intersection of these three respective disciplines.

To help an organization cut costs large amounts of data is very useful. The data can be structured or unstructured but identifying patterns in it can help advertising, recognizing new business opportunities, campaigning and increasing efficiency and reducing costs. This gives the company an added competitive advantage

The data science field uses mathematics, statistics and computer science disciplines effectively, and incorporates techniques like machine learning, cluster analysis, data mining and visualization.
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• As a result, data science has now become a cost-effective strategy for answering questions, making decisions, and predicting outcomes in a wide variety of scenarios in our world. Given this trend, it's unlikely that the demand for data science will decrease any time in the near future.

Advantages of Data Science
Data Science can have innumerable advantages. It can be used as a powerful tool in decision-making.
Data science gives data data-based evidence to accept or reject any business decision. It can increase profits and identify potential risks before they actually occur. It can identify potential customers and also provide solutions to otherwise error prone and difficult tasks.

Depending on the company’s goal and industry the specific benefits of data science vary.
Applications of data science include mining data by banking sectors to detect frauds and potential defaulters. The Streaming services like Netflix can use them to create personalized recommendations to viewers. Telecom companies can use data science to offer certain offers to the users based on the interests of the users. Shipping companies can use them to find the best delivery
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