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Essential Skills to Become a Data Scientist

The demand for Data Science professionals is now at an all-time high. There are companies in virtually every industry looking to extract the most value from the heaps of information generated on a daily basis.With the trend for Data Science catching up like never before, organizations are making complete use of their internal data assets to further examine the integration of hundreds of third-party data sources. What is crucial here is the role of the data scientists.Not very long back, the teams playing the key role of working on the data always found their places in the back rooms of multifold IT organizations. The teams though sitting on the backseat would help in steering the various corporate systems with the required data that acted as the fuel to keep the activities running. The critical database tasks performed by the teams responsible allowed corporate executives to report on operations activities and deliver financial results.When you take up a career in Data Science, your previous experience or skills do not matter. As a matter of fact, you would need a whole new range of skills to pursue a career in Data Science. Below are the skills required to become a top dog in Data Science.What should Data Scientists knowData scientists are expected to have knowledge and expertise in the following domains:The areas arch over dozens of languages, frameworks, and technologies that data scientists need to learn. Data scientists should always have the curiosity to amass more knowledge in their domain so that they stay relevant in this dynamic field.The world of Data Science demands certain important attributes and skills, according to IT leaders, industry analysts, data scientists, and others.How to become a Data Scientist?A majority of Data scientists already have a Master’s degree. If Master’s degree does not quench their thirst for more degrees, some even go on to acquire PhD degrees. Mind you, there are exceptions too. It isn’t mandatory that you should be an expert in a particular subject to become a Data Scientist. You could become one even with a qualification in Computer Science, Physical Sciences, Natural Sciences, Statistics or even Social Sciences. However, a degree in Mathematics and Statistics is always an added benefit for enhanced understanding of the concepts.Qualifying with a degree is not the end of the requirements. Brush up your skills by taking online lessons in a special skill set of your choice — get certified on how to use Hadoop, Big Data or R. You can also choose to enroll yourself for a Postgraduate degree in the field of Data Science, Mathematics or any other related field.Remember, learning does not end with earning a degree or certification. You need to practice what you learned — blog and share your knowledge, build an app and explore other avenues and applications of data.The Data Scientists of the modern world have a major role to play in businesses across the globe. They have the ability to extract useful insights from vast amounts of raw data using sophisticated techniques. The business acumen of the Data Scientists help a big deal in predicting what lies ahead for enterprises. The models that the Data Scientists create also bring out measures to mitigate potential threats if any.Take up organizational challenges with ABCDE skillsetAs a Data Scientist, you may have to face challenges while working on projects and finding solutions to problems.A = AnalyticsIf you are a Data Scientist, you are expected not just to study the data and identify the right tools and techniques; you need to have your answers ready to all the questions that come across while you are strategizing on working on a solution with or without a business model.B = Business AcumenOrganizations vouch for candidates with strong business acumen. As a Data Scientist, you are expected to showcase your skills in a way that will make the organization stand one step ahead of the competition. Undertaking a project and working on it is not the end of the path scaled by you. You need to understand and be able to make others understand how your business models influence business outcomes and how the outcomes will prove beneficial to the organization.C = CodingAnd a Data Scientist is expected to be adept at coding too. You may encounter technical issues where you need to sit and work on codes. If you know how to code, it will make you further versatile in confidently assisting your team.D = DomainThe world does not expect Data Scientists to be perfect with knowledge of all domains. However, it is always assumed that a Data Scientist has know-how of various industrial operations. Reading helps as a plus point. You can gain knowledge in various domains by reading the resources online.E = ExplainTo be a successful Data Scientist, you should be able to explain the problem you are faced with to figure out a solution to the problem and share it with the relevant stakeholders. You need to create a difference in the way you explain without leaving any communication gaps.The Important Skills for a Data ScientistLet us now understand the important skills to become an expert Data Scientist – all the skills that go in, to become one. The skills are as follows:Critical thinkingCodingMathML, DL, AICommunication1. Critical thinkingData scientists need to keep their brains racing with critical thinking. They should be able to apply the objective analysis of facts when faced with a complex problem. Upon reaching a logical analysis, a data scientist should formulate opinions or render judgments.Data scientists are counted upon for their understanding of complex business problems and the risks involved with decision-making. Before they plunge into the process of analysis and decision-making, data scientists are required to come up with a 'model' or 'abstract' on what is critical to coming up with the solution to a problem. Data scientists should be able to determine the factors that are extraneous and can be ignored while churning out a solution to a complex business problem.According to Jeffry Nimeroff, CIO at Zeta Global, which provides a cloud-based marketing platform – A data scientist needs to have experience but also have the ability to suspend belief...Before arriving at a solution, it is very important for a Data Scientist to be very clear on what is being expected and if the expected solution can be arrived at. It is only with experience that your intuition works stronger. Experience brings in benefits.If you are a novice and a problem is posed in front of you; all that the one who put the problem in front of you would get is a wide-eyed expression, perhaps. Instead, if you have hands-on experience of working with complex problems no matter what, you will step back, look behind at your experience, draw some inference from multiple points of view and try assessing the problem that is put forth.In simple steps, critical thinking involves the following steps:a. Describe the problem posed in front of you.b. Analyse the arguments involved – The IFs and BUTs.c. Evaluate the significance of the decisions being made and the successes or failures thereafter.2. CodingHandling a complex task might at times call for the execution of a chain of programming tasks. So, if you are a data scientist, you should know how to go about writing code. It does not stop at just writing the code; the code should be executable and should be crucial in helping you find a solution to a complex business problem.In the present scenario, Data Scientists are more inclined towards learning and becoming an expert with Python as the language of choice. There is a substantial crowd following R as well. Scala, Clojure, Java and Octave are a few other languages that find prominence too.Consider the following aspects to be a successful Data Scientist that can dab with programming skills –a) You need to deal with humongous volumes of data.b) Working with real-time data should be like a cakewalk for you.c) You need to hop around cloud computing and work your way with statistical models like the ones shown below:Different Statistical ModelsRegressionOptimizationClusteringDecision treesRandom forestsData scientists are expected to understand and have the ability to code in a bundle of languages – Python, C++ or Java.Gaining the knack to code helps Data Scientists; however, this is not the end requirement. A Data Scientist can always be surrounded by people who code.3. MathIf you have never liked Mathematics as a subject or are not proficient in Mathematics, Data Science is probably not the right career choice for you.You might own an organization or you might even be representing it; the fact is while you engage with your clients, you might have to look into many disparate issues. To deal with the issues that lay in front of you, you will be required to develop complex financial or operational models. To finally be able to build a worthy model, you will end up pulling chunks from large volumes of data. This is where Mathematics helps you.If you have the expertise in Mathematics, building statistical models is easier. Statistical models further help in developing or switching over to key business strategies. With skills in both Mathematics and Statistics, you can get moving in the world of Data Science. Spell the mantra of Mathematics and Statistics onto your lamp of Data Science, lo and behold you can be the genie giving way to the best solutions to the most complex problems.4. Machine learning, Deep Learning, AIData Science overlaps with the fields of Machine Learning, Deep Learning and AI.There is an increase in the way we work with computers, we now have enhanced connectivity; a large amount of data is being collected and industries make use of this data and are moving extremely fast.AI and deep learning may not show up in the requirements of job postings; yet, if you have AI and deep learning skills, you end up eating the big pie.A data scientist needs to be hawk-eyed and alert to the changes in the curve while research is in progress to come up with the best methodology to a problem. Coming up with a model might not be the end. A Data Scientist must be clear as to when to apply which practice to solve a problem without making it more complex.Data scientists need to understand the depth of problems before finding solutions. A data scientist need not go elsewhere to study the problems; all that is there in the data fetched is what is needed to bring out the best solution.A data scientist should be aware of the computational costs involved in building an environment and the following system boundary conditions:a. Interpretabilityb. Latencyc. BandwidthStudying a customer can act as a major plus point for both a data scientist and an organization… This helps in understanding what technology to apply.No matter how generations advance with the use of automated tools and open source is readily available, statistical skills are considered the much-needed add-ons for a data scientist.Understanding statistics is not an easy job; a data scientist needs to be competent to comprehend the assumptions made by the various tools and software.Experts have put forth a few important requisites for data scientists to make the best use of their models:Data scientists need to be handy with proper data interpretation techniques and ought to understand –a. the various functional interfaces to the machine learning algorithmsb. the statistics within the methodsIf you are a data scientist, try dabbing your profile with colours of computer science skills. You must be proficient in working with the keyboard and have a sound knowledge of fundamentals in software engineering.5. CommunicationCommunication and technology show a cycle of operations wherein, there is an integration between people, applications, systems, and data. Data science does not stand separate in this. Working with Data Science is no different. As a Data Scientist, you should be able to communicate with various stakeholders. Data plays a key attribute in the wheel of communication.Communication in Data Science ropes in the ‘storytelling’ ability. This helps you translate a solution you have arrived at into action or intervention that you have put in the pipeline. As a Data Scientist, you should be adept at knitting with the data you have extracted and communicated it clearly to your stakeholders.What does a data scientist communicate to the stakeholders?The benefits of dataThe technology and the computational costs involved in the process of extracting and making use of the dataThe challenges posed in the form of data quality, privacy, and confidentialityA Data Scientist also needs to keep an eye on the wide horizons for better prospects. The organization can be shown a map highlighting other areas of interest that can prove beneficial.If you are a Data Scientist with different feathers in your cap, one being that of a good communicator, you should be able to change a complex form of technical information to a simple and compact form before you present it to the various stakeholders. The information should highlight the challenges, the details of the data, the criteria for success and the anticipated results.If you want to excel in the field of Data Science, you must have an inquisitive bent of mind. The more you ask questions, the more information you gather, the easier it is to come up with paramount business models.6. Data architectureLet us draw some inference from the construction of a building and the role of an architect. Architects have the most knowledge of how the different blocks of buildings can go together and how the different pillars for a block make a strong support system. Like how architects manage and coordinate the entire construction process, so do the Data Scientists while building business models.A Data Scientist needs to understand all that happens to the data from the inception level to when it becomes a model and further until a decision is made based on the model.Not understanding the data architecture can have a tremendous impact on the assumptions made in the process and the decisions arrived at. If a Data Scientist is not familiar with the data architecture, it may lead to the organization taking wrong decisions leading to unexpected and unfavourable results.A slight change within the architecture might lead to situations getting worse for all the involved stakeholders.7. Risk analysis, process improvement, systems engineeringA Data Scientist with sharp business acumen should have the ability to analyse business risks, suggest improvements if any and facilitate further changes in various business processes. As a Data Scientist, you should understand how systems engineering works.If you want to be a Data Scientist and have sharp risk analysis, process improvement and systems engineering skills, you can set yourself for a smooth sail in this vast sea of Data Science.And, rememberYou will no more be a Data Scientist if you stop following scientific theories… After all, Data Science in itself is a major breakthrough in the field of Science.It is always recommended to analyse all the risks that may confront a business before embarking on a journey of model development. This helps in mitigating risks that an organization may have to encounter later. For a smooth business flow, a Data Scientist should also have the nature to probe into the strategies of the various stakeholders and the problems encountered by customers.A Data Scientist should be able to get the picture of the prevailing risks or the various systems that can have a whopping impact on the data or if a model can lead to positive fruition in the form of customer satisfaction.8. Problem-solving and strong business acumenData scientists are not very different when compared to the commoners. We can say this on the lines of problem-solving. The problem solving traits are inherent in every human being. What makes a data scientist stand apart is very good problem-solving skills. We come across complex problems even in everyday situations. How we differ in solving problems is in the perspectives that we apply. Understanding and analyzing before moving on to actually solving the problems by pulling out all the tools in practice is what Data Scientists are good at.The approach that a Data Scientist takes to solve a problem reaps more success than failure. With their approach, they bring critical thinking to the forefront.  Finding a Data Scientist with skill sets at variance is a problem faced by most of the employers.Technical Skills for a Data ScientistWhen the employers are on a hunt to trap the best, they look out for specialization in languages, libraries, and expertise in tech tools. If a candidate comes in with experience, it helps in boosting the profile.Let us see some very important technical skills:PythonRSQLHadoop/Apache SparkJava/SASTableauLet us briefly understand how these languages are in demand.PythonPython is one of the most in-demand languages. This has gained immense popularity as an open-source language. It is widely used both by beginners and experts. Data Scientists need to have Python as one of the primary languages in their kit.RR is altogether a new programming language for statisticians. Anyone with a mathematical bent of mind can learn it. Nevertheless, if you do not appreciate the nuances of Mathematics then it’s difficult to understand R. This never means that you cannot learn it, but without having that mathematical creativity, you cannot harness the power of it.SQLStructured Query Language or SQL is also highly in demand. The language helps in interacting with relational databases. Though it is not of much prominence yet, with a know-how in SQL you can gain a stand in the job market.Hadoop & SparkBoth Hadoop and Spark are open source tools from Apache for big data.Apache Hadoop is an open source software platform. Apache Hadoop helps when you have large data sets on computer clusters built from commodity hardware and you find it difficult to store and process the data sets.Apache Spark is a lightning-fast cluster computing and data processing engine designed for fast computation. It comes with a bunch of development APIs. It supports data workers with efficient execution of streaming, machine learning or SQL workloads.Java & SASWe also have Java and SAS joining the league of languages. These are in-demand languages by large players. Employers offer whopping packages to candidates with expertise in Java and SAS.TableauTableau joins the list as an analytics platform and visualization tool. The tool is powerful and user-friendly. The public version of the tool is available for free. If you wish to keep your data private, you have to consider the costs involved too.Easy tips for a Data ScientistLet us see the in-demand skill set for a Data Scientist in brief.a. A Data Scientist should have the acumen to handle data processing and go about setting models that will help various business processes.b. A Data Scientist should understand the depth of a business problem and the structure of the data that will be used in the process of solving it.c. A Data Scientist should always be ready with an explanation on how the created business models work; even the minute details count.A majority of the crowd out there is good at Maths, Statistics, Engineering or other related subjects. However, when interviewed, they may not show the required traits and when recruited may fail to shine in their performance levels. Sometimes the recruitment process to hire a Data Scientist gets so tedious that employers end up searching with lanterns even in broad daylight. Further, the graphical representation below shows some smart tips for smart Data Scientists.Smart tips for a Data ScientistWhat employers seek the most from Data Scientists?Let us now throw some light into what employers seek the most from Data Scientists:a. A strong sense of analysisb. Machine learning is at the core of what is sought from Data Scientists.c. A Data Scientist should infer and refer to data that has been in practice and will be in practice.d. Data Scientists are expected to be adept at Machine Learning and create models predicting the performance on the basis of demand.e. And, a big NOD to a combo skill set of statistics, Computer Science and Mathematics.Following screenshot shows the requirements of a topnotch employer from a Data Scientist. The requirements were posted on a jobs’ listing website.Let us do a sneak peek into the same job-listing website and see the skills in demand for a Data Scientist.ExampleRecommendations for a Data ScientistWhat are some general recommendations for Data Scientists in the present scenario? Let us walk you through a few.Exhibit your demonstration skills with data analysis and aim to become learned at Machine Learning.Focus on your communication skills. You would have a tough time in your career if you cannot show what you have and cannot communicate what you know. Experts have recommended reading Made to Stick for far-reaching impact of the ideas that you generate.Gain proficiency in deep learning. You must be familiar with the usage, interest, and popularity of deep learning framework.If you are wearing the hat of a Python expert, you must also have the know-how of common python data science libraries – numpy, pandas, matplotlib, and scikit-learn.ConclusionData Science is all about contributing more data to the technologically advanced world. Make your online presence a worthy one; learn while you earn.Start by browsing through online portals. If you are a professional, make your mark on LinkedIn. Securing a job through LinkedIn is now easier than scouring through job sites.Demonstrate all the skills that you are good at on the social portals you are associated with. Suppose you write an article on LinkedIn, do not refrain from sharing the link to the article on your Facebook account.Most important of all – when faced with a complex situation, understand why and what led to the problem. A deeper understanding of a problem will help you come up with the best model. The more you empathize with a situation, the more will be your success count. And in no time, you can become that extraordinary whiz in Data Science.Wishing you immense success if you happen to choose or have already chosen Data Science as the path for your career.All the best for your career endeavour!

Essential Skills to Become a Data Scientist

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Essential Skills to Become a Data Scientist

The demand for Data Science professionals is now at an all-time high. There are companies in virtually every industry looking to extract the most value from the heaps of information generated on a daily basis.

With the trend for Data Science catching up like never before, organizations are making complete use of their internal data assets to further examine the integration of hundreds of third-party data sources. What is crucial here is the role of the data scientists.

Not very long back, the teams playing the key role of working on the data always found their places in the back rooms of multifold IT organizations. The teams though sitting on the backseat would help in steering the various corporate systems with the required data that acted as the fuel to keep the activities running. The critical database tasks performed by the teams responsible allowed corporate executives to report on operations activities and deliver financial results.

When you take up a career in Data Science, your previous experience or skills do not matter. As a matter of fact, you would need a whole new range of skills to pursue a career in Data Science. Below are the skills required to become a top dog in Data Science.

What should Data Scientists know

what should data scientists know

Data scientists are expected to have knowledge and expertise in the following domains:

The areas arch over dozens of languages, frameworks, and technologies that data scientists need to learn. Data scientists should always have the curiosity to amass more knowledge in their domain so that they stay relevant in this dynamic field.

The world of Data Science demands certain important attributes and skills, according to IT leaders, industry analysts, data scientists, and others.

How to become a Data Scientist?

A majority of Data scientists already have a Master’s degree. If Master’s degree does not quench their thirst for more degrees, some even go on to acquire PhD degrees. Mind you, there are exceptions too. It isn’t mandatory that you should be an expert in a particular subject to become a Data Scientist. You could become one even with a qualification in Computer Science, Physical Sciences, Natural Sciences, Statistics or even Social Sciences. However, a degree in Mathematics and Statistics is always an added benefit for enhanced understanding of the concepts.

Qualifying with a degree is not the end of the requirements. Brush up your skills by taking online lessons in a special skill set of your choice — get certified on how to use Hadoop, Big Data or R. You can also choose to enroll yourself for a Postgraduate degree in the field of Data Science, Mathematics or any other related field.

Remember, learning does not end with earning a degree or certification. You need to practice what you learned — blog and share your knowledge, build an app and explore other avenues and applications of data.

The Data Scientists of the modern world have a major role to play in businesses across the globe. They have the ability to extract useful insights from vast amounts of raw data using sophisticated techniques. The business acumen of the Data Scientists help a big deal in predicting what lies ahead for enterprises. The models that the Data Scientists create also bring out measures to mitigate potential threats if any.

Take up organizational challenges with ABCDE skillset

As a Data Scientist, you may have to face challenges while working on projects and finding solutions to problems.

ABCDE skillset to overcome Organizational Challenges:- Analytics, Business Acumen, Coding, Domain, Explain

A = Analytics

If you are a Data Scientist, you are expected not just to study the data and identify the right tools and techniques; you need to have your answers ready to all the questions that come across while you are strategizing on working on a solution with or without a business model.

B = Business Acumen

Organizations vouch for candidates with strong business acumen. As a Data Scientist, you are expected to showcase your skills in a way that will make the organization stand one step ahead of the competition. Undertaking a project and working on it is not the end of the path scaled by you. You need to understand and be able to make others understand how your business models influence business outcomes and how the outcomes will prove beneficial to the organization.

C = Coding

And a Data Scientist is expected to be adept at coding too. You may encounter technical issues where you need to sit and work on codes. If you know how to code, it will make you further versatile in confidently assisting your team.

D = Domain

The world does not expect Data Scientists to be perfect with knowledge of all domains. However, it is always assumed that a Data Scientist has know-how of various industrial operations. Reading helps as a plus point. You can gain knowledge in various domains by reading the resources online.

E = Explain

To be a successful Data Scientist, you should be able to explain the problem you are faced with to figure out a solution to the problem and share it with the relevant stakeholders. You need to create a difference in the way you explain without leaving any communication gaps.

The Important Skills for a Data Scientist

Let us now understand the important skills to become an expert Data Scientist – all the skills that go in, to become one. The skills are as follows:

The Important Skills for a Data Scientist

  1. Critical thinking
  2. Coding
  3. Math
  4. ML, DL, AI
  5. Communication

Essential Skills to Become a Data Scientist

1. Critical thinking

Data scientists need to keep their brains racing with critical thinking. They should be able to apply the objective analysis of facts when faced with a complex problem. Upon reaching a logical analysis, a data scientist should formulate opinions or render judgments.

Data scientists are counted upon for their understanding of complex business problems and the risks involved with decision-making. Before they plunge into the process of analysis and decision-making, data scientists are required to come up with a 'model' or 'abstract' on what is critical to coming up with the solution to a problem. Data scientists should be able to determine the factors that are extraneous and can be ignored while churning out a solution to a complex business problem.

According to Jeffry Nimeroff, CIO at Zeta Global, which provides a cloud-based marketing platform – A data scientist needs to have experience but also have the ability to suspend belief...

Before arriving at a solution, it is very important for a Data Scientist to be very clear on what is being expected and if the expected solution can be arrived at. It is only with experience that your intuition works stronger. Experience brings in benefits.

If you are a novice and a problem is posed in front of you; all that the one who put the problem in front of you would get is a wide-eyed expression, perhaps. Instead, if you have hands-on experience of working with complex problems no matter what, you will step back, look behind at your experience, draw some inference from multiple points of view and try assessing the problem that is put forth.

In simple steps, critical thinking involves the following steps:

Steps in critical thinking

a. Describe the problem posed in front of you.

b. Analyse the arguments involved – The IFs and BUTs.

c. Evaluate the significance of the decisions being made and the successes or failures thereafter.

2. Coding

Handling a complex task might at times call for the execution of a chain of programming tasks. So, if you are a data scientist, you should know how to go about writing code. It does not stop at just writing the code; the code should be executable and should be crucial in helping you find a solution to a complex business problem.

In the present scenario, Data Scientists are more inclined towards learning and becoming an expert with Python as the language of choice. There is a substantial crowd following R as well. Scala, Clojure, Java and Octave are a few other languages that find prominence too.

Consider the following aspects to be a successful Data Scientist that can dab with programming skills –

a) You need to deal with humongous volumes of data.

b) Working with real-time data should be like a cakewalk for you.

c) You need to hop around cloud computing and work your way with statistical models like the ones shown below:

Different Statistical Models

  • Regression
  • Optimization
  • Clustering
  • Decision trees
  • Random forests

Data scientists are expected to understand and have the ability to code in a bundle of languages – Python, C++ or Java.

Gaining the knack to code helps Data Scientists; however, this is not the end requirement. A Data Scientist can always be surrounded by people who code.

3. Math

If you have never liked Mathematics as a subject or are not proficient in Mathematics, Data Science is probably not the right career choice for you.

You might own an organization or you might even be representing it; the fact is while you engage with your clients, you might have to look into many disparate issues. To deal with the issues that lay in front of you, you will be required to develop complex financial or operational models. To finally be able to build a worthy model, you will end up pulling chunks from large volumes of data. This is where Mathematics helps you.

If you have the expertise in Mathematics, building statistical models is easier. Statistical models further help in developing or switching over to key business strategies. With skills in both Mathematics and Statistics, you can get moving in the world of Data Science. Spell the mantra of Mathematics and Statistics onto your lamp of Data Science, lo and behold you can be the genie giving way to the best solutions to the most complex problems.

4. Machine learning, Deep Learning, AI

Data Science overlaps with the fields of Machine Learning, Deep Learning and AI.

There is an increase in the way we work with computers, we now have enhanced connectivity; a large amount of data is being collected and industries make use of this data and are moving extremely fast.

AI and deep learning may not show up in the requirements of job postings; yet, if you have AI and deep learning skills, you end up eating the big pie.

A data scientist needs to be hawk-eyed and alert to the changes in the curve while research is in progress to come up with the best methodology to a problem. Coming up with a model might not be the end. A Data Scientist must be clear as to when to apply which practice to solve a problem without making it more complex.

Data scientists need to understand the depth of problems before finding solutions. A data scientist need not go elsewhere to study the problems; all that is there in the data fetched is what is needed to bring out the best solution.

A data scientist should be aware of the computational costs involved in building an environment and the following system boundary conditions:

a. Interpretability

b. Latency

c. Bandwidth

Studying a customer can act as a major plus point for both a data scientist and an organization… This helps in understanding what technology to apply.

No matter how generations advance with the use of automated tools and open source is readily available, statistical skills are considered the much-needed add-ons for a data scientist.

Understanding statistics is not an easy job; a data scientist needs to be competent to comprehend the assumptions made by the various tools and software.

Experts have put forth a few important requisites for data scientists to make the best use of their models:

Data scientists need to be handy with proper data interpretation techniques and ought to understand –

a. the various functional interfaces to the machine learning algorithms

b. the statistics within the methods

If you are a data scientist, try dabbing your profile with colours of computer science skills. You must be proficient in working with the keyboard and have a sound knowledge of fundamentals in software engineering.

5. Communication

Communication and technology show a cycle of operations wherein, there is an integration between people, applications, systems, and data. Data science does not stand separate in this. Working with Data Science is no different. As a Data Scientist, you should be able to communicate with various stakeholders. Data plays a key attribute in the wheel of communication.

Communication in Data Science ropes in the ‘storytelling’ ability. This helps you translate a solution you have arrived at into action or intervention that you have put in the pipeline. As a Data Scientist, you should be adept at knitting with the data you have extracted and communicated it clearly to your stakeholders.

What does a data scientist communicate to the stakeholders?

What does a data scientist communicate to the stakeholders

The benefits of data

The technology and the computational costs involved in the process of extracting and making use of the data

The challenges posed in the form of data quality, privacy, and confidentiality

A Data Scientist also needs to keep an eye on the wide horizons for better prospects. The organization can be shown a map highlighting other areas of interest that can prove beneficial.

If you are a Data Scientist with different feathers in your cap, one being that of a good communicator, you should be able to change a complex form of technical information to a simple and compact form before you present it to the various stakeholders. The information should highlight the challenges, the details of the data, the criteria for success and the anticipated results.

If you want to excel in the field of Data Science, you must have an inquisitive bent of mind. The more you ask questions, the more information you gather, the easier it is to come up with paramount business models.

6. Data architecture

Let us draw some inference from the construction of a building and the role of an architect. Architects have the most knowledge of how the different blocks of buildings can go together and how the different pillars for a block make a strong support system. Like how architects manage and coordinate the entire construction process, so do the Data Scientists while building business models.

A Data Scientist needs to understand all that happens to the data from the inception level to when it becomes a model and further until a decision is made based on the model.

Not understanding the data architecture can have a tremendous impact on the assumptions made in the process and the decisions arrived at. If a Data Scientist is not familiar with the data architecture, it may lead to the organization taking wrong decisions leading to unexpected and unfavourable results.

A slight change within the architecture might lead to situations getting worse for all the involved stakeholders.

7. Risk analysis, process improvement, systems engineering

A Data Scientist with sharp business acumen should have the ability to analyse business risks, suggest improvements if any and facilitate further changes in various business processes. As a Data Scientist, you should understand how systems engineering works.

If you want to be a Data Scientist and have sharp risk analysis, process improvement and systems engineering skills, you can set yourself for a smooth sail in this vast sea of Data Science.

And, remember

You will no more be a Data Scientist if you stop following scientific theories… After all, Data Science in itself is a major breakthrough in the field of Science.

It is always recommended to analyse all the risks that may confront a business before embarking on a journey of model development. This helps in mitigating risks that an organization may have to encounter later. For a smooth business flow, a Data Scientist should also have the nature to probe into the strategies of the various stakeholders and the problems encountered by customers.

A Data Scientist should be able to get the picture of the prevailing risks or the various systems that can have a whopping impact on the data or if a model can lead to positive fruition in the form of customer satisfaction.

8. Problem-solving and strong business acumen

Data scientists are not very different when compared to the commoners. We can say this on the lines of problem-solving. The problem solving traits are inherent in every human being. What makes a data scientist stand apart is very good problem-solving skills. We come across complex problems even in everyday situations. How we differ in solving problems is in the perspectives that we apply. Understanding and analyzing before moving on to actually solving the problems by pulling out all the tools in practice is what Data Scientists are good at.

The approach that a Data Scientist takes to solve a problem reaps more success than failure. With their approach, they bring critical thinking to the forefront.  

Finding a Data Scientist with skill sets at variance is a problem faced by most of the employers.

Technical Skills for a Data ScientistTechnical or Programming Skills required to become a Data Scientist

When the employers are on a hunt to trap the best, they look out for specialization in languages, libraries, and expertise in tech tools. If a candidate comes in with experience, it helps in boosting the profile.

Let us see some very important technical skills:

  • Python
  • R
  • SQL
  • Hadoop/Apache Spark
  • Java/SAS
  • Tableau

Let us briefly understand how these languages are in demand.

  • Python

Python is one of the most in-demand languages. This has gained immense popularity as an open-source language. It is widely used both by beginners and experts. Data Scientists need to have Python as one of the primary languages in their kit.

  • R

R is altogether a new programming language for statisticians. Anyone with a mathematical bent of mind can learn it. Nevertheless, if you do not appreciate the nuances of Mathematics then it’s difficult to understand R. This never means that you cannot learn it, but without having that mathematical creativity, you cannot harness the power of it.

  • SQL

Structured Query Language or SQL is also highly in demand. The language helps in interacting with relational databases. Though it is not of much prominence yet, with a know-how in SQL you can gain a stand in the job market.

  • Hadoop & Spark

Both Hadoop and Spark are open source tools from Apache for big data.

Apache Hadoop is an open source software platform. Apache Hadoop helps when you have large data sets on computer clusters built from commodity hardware and you find it difficult to store and process the data sets.

Apache Spark is a lightning-fast cluster computing and data processing engine designed for fast computation. It comes with a bunch of development APIs. It supports data workers with efficient execution of streaming, machine learning or SQL workloads.

  • Java & SAS

We also have Java and SAS joining the league of languages. These are in-demand languages by large players. Employers offer whopping packages to candidates with expertise in Java and SAS.

  • Tableau

Tableau joins the list as an analytics platform and visualization tool. The tool is powerful and user-friendly. The public version of the tool is available for free. If you wish to keep your data private, you have to consider the costs involved too.

Easy tips for a Data Scientist

Let us see the in-demand skill set for a Data Scientist in brief.

a. A Data Scientist should have the acumen to handle data processing and go about setting models that will help various business processes.

b. A Data Scientist should understand the depth of a business problem and the structure of the data that will be used in the process of solving it.

c. A Data Scientist should always be ready with an explanation on how the created business models work; even the minute details count.

A majority of the crowd out there is good at Maths, Statistics, Engineering or other related subjects. However, when interviewed, they may not show the required traits and when recruited may fail to shine in their performance levels. Sometimes the recruitment process to hire a Data Scientist gets so tedious that employers end up searching with lanterns even in broad daylight. Further, the graphical representation below shows some smart tips for smart Data Scientists.

Smart tips for a Data Scientist

Smart tips for a Data Scientist

What employers seek the most from Data Scientists?

Let us now throw some light into what employers seek the most from Data Scientists:

a. A strong sense of analysis

b. Machine learning is at the core of what is sought from Data Scientists.

c. A Data Scientist should infer and refer to data that has been in practice and will be in practice.

d. Data Scientists are expected to be adept at Machine Learning and create models predicting the performance on the basis of demand.

e. And, a big NOD to a combo skill set of statistics, Computer Science and Mathematics.

Following screenshot shows the requirements of a topnotch employer from a Data Scientist. The requirements were posted on a jobs’ listing website.

Let us do a sneak peek into the same job-listing website and see the skills in demand for a Data Scientist.

  1. Example

Essential Skills to become a Data Scientist

Recommendations for a Data Scientist

What are some general recommendations for Data Scientists in the present scenario? Let us walk you through a few.

  • Exhibit your demonstration skills with data analysis and aim to become learned at Machine Learning.
  • Focus on your communication skills. You would have a tough time in your career if you cannot show what you have and cannot communicate what you know. Experts have recommended reading Made to Stick for far-reaching impact of the ideas that you generate.
  • Gain proficiency in deep learning. You must be familiar with the usage, interest, and popularity of deep learning framework.

If you are wearing the hat of a Python expert, you must also have the know-how of common python data science libraries – numpy, pandas, matplotlib, and scikit-learn.

Conclusion

Data Science is all about contributing more data to the technologically advanced world. Make your online presence a worthy one; learn while you earn.

Start by browsing through online portals. If you are a professional, make your mark on LinkedIn. Securing a job through LinkedIn is now easier than scouring through job sites.

Demonstrate all the skills that you are good at on the social portals you are associated with. Suppose you write an article on LinkedIn, do not refrain from sharing the link to the article on your Facebook account.

Most important of all – when faced with a complex situation, understand why and what led to the problem. A deeper understanding of a problem will help you come up with the best model. The more you empathize with a situation, the more will be your success count. And in no time, you can become that extraordinary whiz in Data Science.

Wishing you immense success if you happen to choose or have already chosen Data Science as the path for your career.

All the best for your career endeavour!

Priyankur

Priyankur Sarkar

Data Science Enthusiast

Priyankur Sarkar loves to play with data and get insightful results out of it, then turn those data insights and results in business growth. He is an electronics engineer with a versatile experience as an individual contributor and leading teams, and has actively worked towards building Machine Learning capabilities for organizations.

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2 comments

Juhi 18 Jun 2019

It’s really great information. Keep sharing, Thanks

nikhil 31 Aug 2020

Great article,very informative.Thanks for sharing your thought process! looking forward to subscribe to your news letter. Thanks for such an interesting and wonderful blog.It is really a nice and informative blog and the content is really precise. looking forward to subscribe to your news letter.

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Role of Unstructured Data in Data Science

Data has become the new game changer for businesses. Typically, data scientists categorize data into three broad divisions - structured, semi-structured, and unstructured data. In this article, you will get to know about unstructured data, sources of unstructured data, unstructured data vs. structured data, the use of structured and unstructured data in machine learning, and the difference between structured and unstructured data. Let us first understand what is unstructured data with examples. What is unstructured data? Unstructured data is a kind of data format where there is no organized form or type of data. Videos, texts, images, document files, audio materials, email contents and more are considered to be unstructured data. It is the most copious form of business data, and cannot be stored in a structured database or relational database. Some examples of unstructured data are the photos we post on social media platforms, the tagging we do, the multimedia files we upload, and the documents we share. Seagate predicts that the global data-sphere will expand to 163 zettabytes by 2025, where most of the data will be in the unstructured format. Characteristics of Unstructured DataUnstructured data cannot be organized in a predefined fashion, and is not a homogenous data model. This makes it difficult to manage. Apart from that, these are the other characteristics of unstructured data. You cannot store unstructured data in the form of rows and columns as we do in a database table. Unstructured data is heterogeneous in structure and does not have any specific data model. The creation of such data does not follow any semantics or habits. Due to the lack of any particular sequence or format, it is difficult to manage. Such data does not have an identifiable structure. Sources of Unstructured Data There are various sources of unstructured data. Some of them are: Content websites Social networking sites Online images Memos Reports and research papers Documents, spreadsheets, and presentations Audio mining, chatbots Surveys Feedback systems Advantages of Unstructured Data Unstructured data has become exceptionally easy to store because of MongoDB, Cassandra, or even using JSON. Modern NoSQL databases and software allows data engineers to collect and extract data from various sources. There are numerous benefits that enterprises and businesses can gain from unstructured data. These are: With the advent of unstructured data, we can store data that lacks a proper format or structure. There is no fixed schema or data structure for storing such data, which gives flexibility in storing data of different genres. Unstructured data is much more portable by nature. Unstructured data is scalable and flexible to store. Database systems like MongoDB, Cassandra, etc., can easily handle the heterogeneous properties of unstructured data. Different applications and platforms produce unstructured data that becomes useful in business intelligence, unstructured data analytics, and various other fields. Unstructured data analysis allows finding comprehensive data stories from data like email contents, website information, social media posts, mobile data, cache files and more. Unstructured data, along with data analytics, helps companies improve customer experience. Detection of the taste of consumers and their choices becomes easy because of unstructured data analysis. Disadvantages of Unstructured data Storing and managing unstructured data is difficult because there is no proper structure or schema. Data indexing is also a substantial challenge and hence becomes unclear due to its disorganized nature. Search results from an unstructured dataset are also not accurate because it does not have predefined attributes. Data security is also a challenge due to the heterogeneous form of data. Problems faced and solutions for storing unstructured data. Until recently, it was challenging to store, evaluate, and manage unstructured data. But with the advent of modern data analysis tools, algorithms, CAS (content addressable storage system), and big data technologies, storage and evaluation became easy. Let us first take a look at the various challenges used for storing unstructured data. Storing unstructured data requires a large amount of space. Indexing of unstructured data is a hectic task. Database operations such as deleting and updating become difficult because of the disorganized nature of the data. Storing and managing video, audio, image file, emails, social media data is also challenging. Unstructured data increases the storage cost. For solving such issues, there are some particular approaches. These are: CAS system helps in storing unstructured data efficiently. We can preserve unstructured data in XML format. Developers can store unstructured data in an RDBMS system supporting BLOB. We can convert unstructured data into flexible formats so that evaluating and storage becomes easy. Let us now understand the differences between unstructured data vs. structured data. Unstructured Data Vs. Structured Data In this section, we will understand the difference between structured and unstructured data with examples. STRUCTUREDUNSTRUCTUREDStructured data resides in an organized format in a typical database.Unstructured data cannot reside in an organized format, and hence we cannot store it in a typical database.We can store structured data in SQL database tables having rows and columns.Storing and managing unstructured data requires specialized databases, along with a variety of business intelligence and analytics applications.It is tough to scale a database schema.It is highly scalable.Structured data gets generated in colleges, universities, banks, companies where people have to deal with names, date of birth, salary, marks and so on.We generate or find unstructured data in social media platforms, emails, analyzed data for business intelligence, call centers, chatbots and so on.Queries in structured data allow complex joining.Unstructured data allows only textual queries.The schema of a structured dataset is less flexible and dependent.An unstructured dataset is flexible but does not have any particular schema.It has various concurrency techniques.It has no concurrency techniques.We can use SQL, MySQL, SQLite, Oracle DB, Teradata to store structured data.We can use NoSQL (Not Only SQL) to store unstructured data.Types of Unstructured Data Do you have any idea just how much of unstructured data we produce and from what sources? Unstructured data includes all those forms of data that we cannot actively manage in an RDBMS system that is a transactional system. We can store structured data in the form of records. But this is not the case with unstructured data. Before the advent of object-based storage, most of the unstructured data was stored in file-based systems. Here are some of the types of unstructured data. Rich media content: Entertainment files, surveillance data, multimedia email attachments, geospatial data, audio files (call center and other recorded audio), weather reports (graphical), etc., comes under this genre. Document data: Invoices, text-file records, email contents, productivity applications, etc., are included under this genre. Internet of Things (IoT) data: Ticker data, sensor data, data from other IoT devices come under this genre. Apart from all these, data from business intelligence and analysis, machine learning datasets, and artificial intelligence data training datasets are also a separate genre of unstructured data. Examples of Unstructured Data There are various sources from where we can obtain unstructured data. The prominent use of this data is in unstructured data analytics. Let us now understand what are some examples of unstructured data and their sources – Healthcare industries generate a massive volume of human as well as machine-generated unstructured data. Human-generated unstructured data could be in the form of patient-doctor or patient-nurse conversations, which are usually recorded in audio or text formats. Unstructured data generated by machines includes emergency video camera footage, surgical robots, data accumulated from medical imaging devices like endoscopes, laparoscopes and more.  Social Media is an intrinsic entity of our daily life. Billions of people come together to join channels, share different thoughts, and exchange information with their loved ones. They create and share such data over social media platforms in the form of images, video clips, audio messages, tagging people (this helps companies to map relations between two or more people), entertainment data, educational data, geolocations, texts, etc. Other spectra of data generated from social media platforms are behavior patterns, perceptions, influencers, trends, news, and events. Business and corporate documents generate a multitude of unstructured data such as emails, presentations, reports containing texts, images, presentation reports, video contents, feedback and much more. These documents help to create knowledge repositories within an organization to make better implicit operations. Live chat, video conferencing, web meeting, chatbot-customer messages, surveillance data are other prominent examples of unstructured data that companies can cultivate to get more insights into the details of a person. Some prominent examples of unstructured data used in enterprises and organizations are: Reports and documents, like Word files or PDF files Multimedia files, such as audio, images, designed texts, themes, and videos System logs Medical images Flat files Scanned documents (which are images that hold numbers and text – for example, OCR) Biometric data Unstructured Data Analytics Tools  You might be wondering what tools can come into use to gather and analyze information that does not have a predefined structure or model. Various tools and programming languages use structured and unstructured data for machine learning and data analysis. These are: Tableau MonkeyLearn Apache Spark SAS Python MS. Excel RapidMiner KNIME QlikView Python programming R programming Many cloud services (like Amazon AWS, Microsoft Azure, IBM Cloud, Google Cloud) also offer unstructured data analysis solutions bundled with their services. How to analyze unstructured data? In the past, the process of storage and analysis of unstructured data was not well defined. Enterprises used to carry out this kind of analysis manually. But with the advent of modern tools and programming languages, most of the unstructured data analysis methods became highly advanced. AI-powered tools use algorithms designed precisely to help to break down unstructured data for analysis. Unstructured data analytics tools, along with Natural language processing (NLP) and machine learning algorithms, help advanced software tools analyze and extract analytical data from the unstructured datasets. Before using these tools for analyzing unstructured data, you must properly go through a few steps and keep these points in mind. Set a clear goal for analyzing the data: It is essential to clear your intention about what insights you want to extract from your unstructured data. Knowing this will help you distinguish what type of data you are planning to accumulate. Collect relevant data: Unstructured data is available everywhere, whether it's a social media platform, online feedback or reviews, or a survey form. Depending on the previous point, that is your goal - you have to be precise about what data you want to collect in real-time. Also, keep in mind whether your collected details are relevant or not. Clean your data: Data cleaning or data cleansing is a significant process to detect corrupt or irrelevant data from the dataset, followed by modifying or deleting the coarse and sloppy data. This phase is also known as the data-preprocessing phase, where you have to reduce the noise, carry out data slicing for meaningful representation, and remove unnecessary data. Use Technology and tools: Once you perform the data cleaning, it is time to utilize unstructured data analysis tools to prepare and cultivate the insights from your data. Technologies used for unstructured data storage (NoSQL) can help in managing your flow of data. Other tools and programming libraries like Tableau, Matplotlib, Pandas, and Google Data Studio allows us to extract and visualize unstructured data. Data can be visualized and presented in the form of compelling graphs, plots, and charts. How to Extract information from Unstructured Data? With the growth in digitization during the information era, repetitious transactions in data cause data flooding. The exponential accretion in the speed of digital data creation has brought a whole new domain of understanding user interaction with the online world. According to Gartner, 80% of the data created by an organization or its application is unstructured. While extracting exact information through appropriate analysis of organized data is not yet possible, even obtaining a decent sense of this unstructured data is quite tough. Until now, there are no perfect tools to analyze unstructured data. But algorithms and tools designed using machine learning, Natural language processing, Deep learning, and Graph Analysis (a mathematical method for estimating graph structures) help us to get the upper hand in extracting information from unstructured data. Other neural network models like modern linguistic models follow unsupervised learning techniques to gain a good 'knowledge' about the unstructured dataset before going into a specific supervised learning step. AI-based algorithms and technologies are capable enough to extract keywords, locations, phone numbers, analyze image meaning (through digital image processing). We can then understand what to evaluate and identify information that is essential to your business. ConclusionUnstructured data is found abundantly from sources like documents, records, emails, social media posts, feedbacks, call-records, log-in session data, video, audio, and images. Manually analyzing unstructured data is very time-consuming and can be very boring at the same time. With the growth of data science and machine learning algorithms and models, it has become easy to gather and analyze insights from unstructured information.  According to some research, data analytics tools like MonkeyLearn Studio, Tableau, RapidMiner help analyze unstructured data 1200x faster than the manual approach. Analyzing such data will help you learn more about your customers as well as competitors. Text analysis software, along with machine learning models, will help you dig deep into such datasets and make you gain an in-depth understanding of the overall scenario with fine-grained analyses.
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Role of Unstructured Data in Data Science

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What Is Statistical Analysis and Its Business Applications?

Statistics is a science concerned with collection, analysis, interpretation, and presentation of data. In Statistics, we generally want to study a population. You may consider a population as a collection of things, persons, or objects under experiment or study. It is usually not possible to gain access to all of the information from the entire population due to logistical reasons. So, when we want to study a population, we generally select a sample. In sampling, we select a portion (or subset) of the larger population and then study the portion (or the sample) to learn about the population. Data is the result of sampling from a population.Major ClassificationThere are two basic branches of Statistics – Descriptive and Inferential statistics. Let us understand the two branches in brief. Descriptive statistics Descriptive statistics involves organizing and summarizing the data for better and easier understanding. Unlike Inferential statistics, Descriptive statistics seeks to describe the data, however, it does not attempt to draw inferences from the sample to the whole population. We simply describe the data in a sample. It is not developed on the basis of probability unlike Inferential statistics. Descriptive statistics is further broken into two categories – Measure of Central Tendency and Measures of Variability. Inferential statisticsInferential statistics is the method of estimating the population parameter based on the sample information. It applies dimensions from sample groups in an experiment to contrast the conduct group and make overviews on the large population sample. Please note that the inferential statistics are effective and valuable only when examining each member of the group is difficult. Let us understand Descriptive and Inferential statistics with the help of an example. Task – Suppose, you need to calculate the score of the players who scored a century in a cricket tournament.  Solution: Using Descriptive statistics you can get the desired results.   Task – Now, you need the overall score of the players who scored a century in the cricket tournament.  Solution: Applying the knowledge of Inferential statistics will help you in getting your desired results.  Top Five Considerations for Statistical Data AnalysisData can be messy. Even a small blunder may cost you a fortune. Therefore, special care when working with statistical data is of utmost importance. Here are a few key takeaways you must consider to minimize errors and improve accuracy. Define the purpose and determine the location where the publication will take place.  Understand the assets to undertake the investigation. Understand the individual capability of appropriately managing and understanding the analysis.  Determine whether there is a need to repeat the process.  Know the expectation of the individuals evaluating reviewing, committee, and supervision. Statistics and ParametersDetermining the sample size requires understanding statistics and parameters. The two being very closely related are often confused and sometimes hard to distinguish.  StatisticsA statistic is merely a portion of a target sample. It refers to the measure of the values calculated from the population.  A parameter is a fixed and unknown numerical value used for describing the entire population. The most commonly used parameters are: Mean Median Mode Mean :  The mean is the average or the most common value in a data sample or a population. It is also referred to as the expected value. Formula: Sum of the total number of observations/the number of observations. Experimental data set: 2, 4, 6, 8, 10, 12, 14, 16, 18, 20  Calculating mean:   (2 + 4 + 6 + 8 + 10 + 12 + 14 + 16 + 18 + 20)/10  = 110/10   = 11 Median:  In statistics, the median is the value separating the higher half from the lower half of a data sample, a population, or a probability distribution. It’s the mid-value obtained by arranging the data in increasing order or descending order. Formula:  Let n be the data set (increasing order) When data set is odd: Median = n+1/2th term Case-I: (n is odd)  Experimental data set = 1, 2, 3, 4, 5  Median (n = 5) = [(5 +1)/2]th term      = 6/2 term       = 3rd term   Therefore, the median is 3 When data set is even: Median = [n/2th + (n/2 + 1)th] /2 Case-II: (n is even)  Experimental data set = 1, 2, 3, 4, 5, 6   Median (n = 6) = [n/2th + (n/2 + 1)th]/2     = ( 6/2th + (6/2 +1)th]/2     = (3rd + 4th)/2      = (3 + 4)/2      = 7/2      = 3.5  Therefore, the median is 3.5 Mode: The mode is the value that appears most often in a set of data or a population. Experimental data set= 1, 2, 2, 2, 3, 3, 3, 3, 3, 4, 4,4,5, 6  Mode = 3 (Since 3 is the most repeated element in the sequence.) Terms Used to Describe DataWhen working with data, you will need to search, inspect, and characterize them. To understand the data in a tech-savvy and straightforward way, we use a few statistical terms to denote them individually or in groups.  The most frequently used terms used to describe data include data point, quantitative variables, indicator, statistic, time-series data, variable, data aggregation, time series, dataset, and database. Let us define each one of them in brief: Data points: These are the numerical files formed and organized for interpretations. Quantitative variables: These variables present the information in digit form.  Indicator: An indicator explains the action of a community's social-economic surroundings.  Time-series data: The time-series defines the sequential data.  Data aggregation: A group of data points and data set. Database: A group of arranged information for examination and recovery.  Time-series: A set of measures of a variable documented over a specified time. Step-by-Step Statistical Analysis ProcessThe statistical analysis process involves five steps followed one after another. Step 1: Design the study and find the population of the study. Step 2: Collect data as samples. Step 3: Describe the data in the sample. Step 4: Make inferences with the help of samples and calculations Step 5: Take action Data distributionData distribution is an entry that displays entire imaginable readings of data. It shows how frequently a value occurs. Distributed data is always in ascending order, charts, and graphs enabling visibility of measurements and frequencies. The distribution function displaying the density of values of reading is known as the probability density function. Percentiles in data distributionA percentile is the reading in a distribution with a specified percentage of clarifications under it.  Let us understand percentiles with the help of an example.  Suppose you have scored 90th percentile on a math test. A basic interpretation is that merely 4-5% of the scores were higher than your scores. Right? The median is 50th percentile because the assumed 50% of the values are higher than the median. Dispersion Dispersion explains the magnitude of distribution readings anticipated for a specific variable and multiple unique statistics like range, variance, and standard deviation. For instance, high values of a data set are widely scattered while small values of data are firmly clustered. Histogram The histogram is a pictorial display that arranges a group of data facts into user detailed ranges. A histogram summarizes a data series into a simple interpreted graphic by obtaining many data facts and combining them into reasonable ranges. It contains a variety of results into columns on the x-axis. The y axis displays percentages of data for each column and is applied to picture data distributions. Bell Curve distribution Bell curve distribution is a pictorial representation of a probability distribution whose fundamental standard deviation obtained from the mean makes the bell, shaped curving. The peak point on the curve symbolizes the maximum likely occasion in a pattern of data. The other possible outcomes are symmetrically dispersed around the mean, making a descending sloping curve on both sides of the peak. The curve breadth is therefore known as the standard deviation. Hypothesis testingHypothesis testing is a process where experts experiment with a theory of a population parameter. It aims to evaluate the credibility of a hypothesis using sample data. The five steps involved in hypothesis testing are:  Identify the no outcome hypothesis.  (A worthless or a no-output hypothesis has no outcome, connection, or dissimilarities amongst many factors.) Identify the alternative hypothesis.  Establish the importance level of the hypothesis.  Estimate the experiment statistic and equivalent P-value. P-value explains the possibility of getting a sample statistic.  Sketch a conclusion to interpret into a report about the alternate hypothesis. Types of variablesA variable is any digit, amount, or feature that is countable or measurable. Simply put, it is a variable characteristic that varies. The six types of variables include the following: Dependent variableA dependent variable has values that vary according to the value of another variable known as the independent variable.  Independent variableAn independent variable on the other side is controllable by experts. Its reports are recorded and equated.  Intervening variableAn intervening variable explicates fundamental relations between variables. Moderator variableA moderator variable upsets the power of the connection between dependent and independent variables.  Control variableA control variable is anything restricted to a research study. The values are constant throughout the experiment. Extraneous variableExtraneous variable refers to the entire variables that are dependent but can upset experimental outcomes. Chi-square testChi-square test records the contrast of a model to actual experimental data. Data is unsystematic, underdone, equally limited, obtained from independent variables, and a sufficient sample. It relates the size of any inconsistencies among the expected outcomes and the actual outcomes, provided with the sample size and the number of variables in the connection. Types of FrequenciesFrequency refers to the number of repetitions of reading in an experiment in a given time. Three types of frequency distribution include the following: Grouped, ungrouped Cumulative, relative Relative cumulative frequency distribution. Features of FrequenciesThe calculation of central tendency and position (median, mean, and mode). The measure of dispersion (range, variance, and standard deviation). Degree of symmetry (skewness). Peakedness (kurtosis). Correlation MatrixThe correlation matrix is a table that shows the correlation coefficients of unique variables. It is a powerful tool that summarises datasets points and picture sequences in the provided data. A correlation matrix includes rows and columns that display variables. Additionally, the correlation matrix exploits in aggregation with other varieties of statistical analysis. Inferential StatisticsInferential statistics use random data samples for demonstration and to create inferences. They are measured when analysis of each individual of a whole group is not likely to happen. Applications of Inferential StatisticsInferential statistics in educational research is not likely to sample the entire population that has summaries. For instance, the aim of an investigation study may be to obtain whether a new method of learning mathematics develops mathematical accomplishment for all students in a class. Marketing organizations: Marketing organizations use inferential statistics to dispute a survey and request inquiries. It is because carrying out surveys for all the individuals about merchandise is not likely. Finance departments: Financial departments apply inferential statistics for expected financial plan and resources expenses, especially when there are several indefinite aspects. However, economists cannot estimate all that use possibility. Economic planning: In economic planning, there are potent methods like index figures, time series investigation, and estimation. Inferential statistics measures national income and its components. It gathers info about revenue, investment, saving, and spending to establish links among them. Key TakeawaysStatistical analysis is the gathering and explanation of data to expose sequences and tendencies.   Two divisions of statistical analysis are statistical and non-statistical analyses.  Descriptive and Inferential statistics are the two main categories of statistical analysis. Descriptive statistics describe data, whereas Inferential statistics equate dissimilarities between the sample groups.  Statistics aims to teach individuals how to use restricted samples to generate intellectual and precise results for a large group.   Mean, median, and mode are the statistical analysis parameters used to measure central tendency.   Conclusion Statistical analysis is the procedure of gathering and examining data to recognize sequences and trends. It uses random samples of data obtained from a population to demonstrate and create inferences on a group. Inferential statistics applies economic planning with potent methods like index figures, time series investigation, and estimation.  Statistical analysis finds its applications in all the major sectors – marketing, finance, economic, operations, and data mining. Statistical analysis aids marketing organizations in disputing a survey and requesting inquiries concerning their merchandise. 
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What Is Statistical Analysis and Its Business Appl...

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Measures of Dispersion: All You Need to Know

What is Dispersion in StatisticsDispersion in statistics is a way of describing how spread out a set of data is. Dispersion is the state of data getting dispersed, stretched, or spread out in different categories. It involves finding the size of distribution values that are expected from the set of data for the specific variable. The statistical meaning of dispersion is “numeric data that is likely to vary at any instance of average value assumption”.Dispersion of data in Statistics helps one to easily understand the dataset by classifying them into their own specific dispersion criteria like variance, standard deviation, and ranging.Dispersion is a set of measures that helps one to determine the quality of data in an objectively quantifiable manner.The measure of dispersion contains almost the same unit as the quantity being measured. There are many Measures of Dispersion found which help us to get more insights into the data: Range Variance Standard Deviation Skewness IQR  Image SourceTypes of Measure of DispersionThe Measure of Dispersion is divided into two main categories and offer ways of measuring the diverse nature of data. It is mainly used in biological statistics. We can easily classify them by checking whether they contain units or not. So as per the above, we can divide the data into two categories which are: Absolute Measure of Dispersion Relative Measure of DispersionAbsolute Measure of DispersionAbsolute Measure of Dispersion is one with units; it has the same unit as the initial dataset. Absolute Measure of Dispersion is expressed in terms of the average of the dispersion quantities like Standard or Mean deviation. The Absolute Measure of Dispersion can be expressed  in units such as Rupees, Centimetre, Marks, kilograms, and other quantities that are measured depending on the situation. Types of Absolute Measure of Dispersion: Range: Range is the measure of the difference between the largest and smallest value of the data variability. The range is the simplest form of Measure of Dispersion. Example: 1,2,3,4,5,6,7 Range = Highest value – Lowest value   = ( 7 – 1 ) = 6 Mean (μ): Mean is calculated as the average of the numbers. To calculate the Mean, add all the outcomes and then divide it with the total number of terms. Example: 1,2,3,4,5,6,7,8 Mean = (sum of all the terms / total number of terms)                = (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8) / 8                = 36 / 8                = 4.5 Variance (σ2): In simple terms, the variance can be calculated by obtaining the sum of the squared distance of each term in the distribution from the Mean, and then dividing this by the total number of the terms in the distribution.  It basically shows how far a number, for example, a student’s mark in an exam, is from the Mean of the entire class. Formula: (σ2) = ∑ ( X − μ)2 / N Standard Deviation: Standard Deviation can be represented as the square root of Variance. To find the standard deviation of any data, you need to find the variance first. Formula: Standard Deviation = √σ Quartile: Quartiles divide the list of numbers or data into quarters. Quartile Deviation: Quartile Deviation is the measure of the difference between the upper and lower quartile. This measure of deviation is also known as interquartile range. Formula: Interquartile Range: Q3 – Q1. Mean deviation: Mean Deviation is also known as an average deviation; it can be computed using the Mean or Median of the data. Mean deviation is represented as the arithmetic deviation of a different item that follows the central tendency. Formula: As mentioned, the Mean Deviation can be calculated using Mean and Median. Mean Deviation using Mean: ∑ | X – M | / N Mean Deviation using Median: ∑ | X – X1 | / N Relative Measure of DispersionRelative Measures of dispersion are the values without units. A relative measure of dispersion is used to compare the distribution of two or more datasets.  The definition of the Relative Measure of Dispersion is the same as the Absolute Measure of Dispersion; the only difference is the measuring quantity.  Types of Relative Measure of Dispersion: Relative Measure of Dispersion is the calculation of the co-efficient of Dispersion, where 2 series are compared, which differ widely in their average.  The main use of the co-efficient of Dispersion is when 2 series with different measurement units are compared.  1. Co-efficient of Range: it is calculated as the ratio of the difference between the largest and smallest terms of the distribution, to the sum of the largest and smallest terms of the distribution.  Formula: L – S / L + S  where L = largest value S= smallest value 2. Co-efficient of Variation: The coefficient of variation is used to compare the 2 data with respect to homogeneity or consistency.  Formula: C.V = (σ / X) 100 X = standard deviation  σ = mean 3. Co-efficient of Standard Deviation: The co-efficient of Standard Deviation is the ratio of standard deviation with the mean of the distribution of terms.  Formula: σ = ( √( X – X1)) / (N - 1) Deviation = ( X – X1)  σ = standard deviation  N= total number  4. Co-efficient of Quartile Deviation: The co-efficient of Quartile Deviation is the ratio of the difference between the upper quartile and the lower quartile to the sum of the upper quartile and lower quartile.  Formula: ( Q3 – Q3) / ( Q3 + Q1) Q3 = Upper Quartile  Q1 = Lower Quartile 5. Co-efficient of Mean Deviation: The co-efficient of Mean Deviation can be computed using the mean or median of the data. Mean Deviation using Mean: ∑ | X – M | / N Mean Deviation using Mean: ∑ | X – X1 | / N Why dispersion is important in a statisticThe knowledge of dispersion is vital in the understanding of statistics. It helps to understand concepts like the diversification of the data, how the data is spread, how it is maintained, and maintaining the data over the central value or central tendency. Moreover, dispersion in statistics provides us with a way to get better insights into data distribution. For example,  3 distinct samples can have the same Mean, Median, or Range but completely different levels of variability. How to Calculate DispersionDispersion can be easily calculated using various dispersion measures, which are already mentioned in the types of Measure of Dispersion described above. Before measuring the data, it is important to understand the diversion of the terms and variation. One can use the following method to calculate the dispersion: Mean Standard deviation Variance Quartile deviation For example, let us consider two datasets: Data A:97,98,99,100,101,102,103  Data B: 70,80,90,100,110,120,130 On calculating the mean and median of the two datasets, both have the same value, which is 100. However, the rest of the dispersion measures are totally different as measured by the above methods.  The range of B is 10 times higher, for instance. How to represent Dispersion in Statistics Dispersion in Statistics can be represented in the form of graphs and pie-charts. Some of the different ways used include: Dot Plots Box Plots Stems Leaf Plots Example: What is the variance of the values 3,8,6,10,12,9,11,10,12,7?  Variation of the values can be calculated using the following formula: (σ2) = ∑ ( X − μ)2 / N (σ2) = 7.36 What is an example of dispersion? One of the examples of dispersion outside the world of statistics is the rainbow- where white light is split into 7 different colours separated via wavelengths.  Some statistical ways of measuring it are- Standard deviation Range Mean absolute difference Median absolute deviation Interquartile change Average deviation Conclusion: Dispersion in statistics refers to the measure of variability of data or terms. Such variability may give random measurement errors where some of the instrumental measurements are found to be imprecise. It is a statistical way of describing how the terms are spread out in different data sets. The more sets of values, the more scattered data is found, and it is always directly proportional. This range of values can vary from 5 - 10 values to 1000 - 10,000 values. This spread of data is described by the range of descriptive range of statistics. The dispersion in statistics can be represented using a Dot Plot, Box Plot, and other different ways. 
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Measures of Dispersion: All You Need to Know

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