Understanding Data Science and Its Importance in the Modern Era
30th September 2024: Written by Ankita Hazarika, VART Consulting
In today’s rapidly evolving world, data is often referred to as the “new oil.” From businesses to governments, academia to healthcare, the ability to gather, analyze, and interpret data is driving decision-making processes at every level. This is where Data Science comes into play—a field that empowers individuals and organizations to make sense of vast amounts of information to drive innovation and growth.
What is Data Science?
Data science is an interdisciplinary field that uses scientific methods, algorithms, processes, and systems to extract knowledge and insights from structured and unstructured data. At its core, data science combines elements from mathematics, statistics, computer science, and domain-specific knowledge. The role of a data scientist is to analyze raw data, extract useful information, and translate it into actionable insights.
Whether it’s predicting market trends, improving healthcare outcomes, enhancing customer experience, or optimizing operations, data science is the backbone of decision-making in the digital age.
Why is Data Science Important?
- Data-Driven Decision Making
Organizations now rely heavily on data to make informed business decisions. Data science helps them identify patterns, forecast trends, and mitigate risks, leading to more effective strategies. - Improving Operational Efficiency
Through data analysis, companies can streamline their operations, reduce waste, and allocate resources more efficiently, improving overall productivity. - Innovation and Competitive Advantage
Businesses that harness the power of data science can innovate faster and develop new products or services tailored to customer needs. Data-driven companies hold a significant competitive edge over others. - Healthcare Advancements
In healthcare, data science is revolutionizing how we approach diagnostics, treatment plans, and patient care. Predictive models help doctors make better decisions, while big data analytics lead to breakthroughs in medical research. - Personalized Marketing
Through data science, businesses can offer personalized experiences to customers. Analyzing customer behavior allows companies to tailor marketing efforts, improve product recommendations, and boost customer satisfaction.
Key Features of Data Science
- Data Collection and Cleaning
The first step in any data science project is collecting data from various sources. This is followed by cleaning and preprocessing the data to ensure accuracy and consistency. - Statistical Analysis
Statistics form the foundation of data science. Through statistical models, data scientists can uncover trends, correlations, and outliers, helping organizations make sense of complex datasets. - Machine Learning and Predictive Analytics
Machine learning algorithms are used to build predictive models. These models help in forecasting future trends, whether it’s predicting customer behavior, sales, or even weather patterns. - Data Visualization
Data scientists use tools like Power BI and Tableau to visualize data, making it easier for stakeholders to understand the insights. Visualization is crucial as it bridges the gap between data complexity and human interpretation. - Big Data Analytics
With the rise of massive datasets, the ability to work with big data has become a crucial feature of data science. Techniques like distributed computing and large-scale data analysis enable organizations to handle and analyze terabytes of data efficiently.
Inspiring a New Era of Data Scientists at VART
At VART, we don’t just work with data—we teach it. Our goal is to inspire individuals and organizations to embrace data science as a transformative skill. Through our innovative learning methods, we make data science accessible to everyone, from beginners looking to break into the field to professionals aiming to sharpen their analytical skills.
Our approach to teaching is hands-on and practical, designed to ensure that learners don’t just understand the theory but are also equipped with real-world skills. By blending cutting-edge tools, real-world examples, and personalized support, we help our clients and students build a strong foundation in data science that sets them up for success.
Why Choose VART?
- Comprehensive Support: Whether you need custom data models or ongoing analytical support, VART is your trusted partner in navigating the complexities of data science.
- Client-Centric Solutions: We work closely with our clients to understand their challenges, ensuring that every solution is tailored to meet their specific goals.
- Innovative Learning Methods: At VART, we’re committed to inspiring and educating the next generation of data scientists, making the power of data accessible to everyone.
How Students Can Get Started in Data Science
The world of data science offers limitless opportunities for students. Here are a few ways students can develop an interest in this exciting field:
- Start with the Basics
Begin by learning foundational subjects like mathematics, statistics, and basic programming (Python or R). These skills form the bedrock of data science. - Learn Programming Languages
Python and R are two of the most popular languages used in data science. They are easy to learn and have extensive libraries for data analysis, machine learning, and visualization. - Master Excel for Data Analysis
Excel remains a fundamental tool for data analysis, especially for beginners. VART Consulting offers courses from basic to advanced levels in MS-Excel. Excel is essential for data cleaning, analysis, and visualization, making it a great starting point for students. - Participate in Data Science Projects
Practice is key to mastering data science. Start with small projects like analyzing publicly available datasets or participating in data science competitions like Kaggle. This will help students apply what they’ve learned in real-world scenarios. - Join Workshops and Bootcamps
At VART Consulting Pvt Ltd, we provide large-scale data analysis workshops where students get practical exposure to data science tools and techniques. These workshops are ideal for gaining a deeper understanding of the field and working on real-world data problems.
Why VART Stands Out in Data Science Consulting and Education
At VART, we specialize in providing data science and analytical support to clients across industries. Our mission is simple: to transform data into actionable insights that drive growth and innovation. By offering a range of services, including analytical modeling, we empower businesses to make data-driven decisions that are both strategic and impactful.
What sets VART apart is our commitment to teaching and inspiring the next generation of data scientists. Through our unique learning methods, we’re helping individuals and organizations embrace the power of data science, making it accessible to all—whether you’re a business leader looking to optimize your operations or a student eager to enter the world of data.
Our combination of expert analytical support and an education-driven approach ensures you’re not just keeping up with the data revolution—you’re leading it.
Unlock the Potential of Your Data with VART
Whether you’re looking to streamline your business operations or explore the exciting world of data science, VART is here to guide you every step of the way. Our unique blend of expert analytical support and education-driven approach ensures that you’re not just keeping up with the data revolution—you’re leading it.
“Let us help you transform your business with the power of data science, and together, we can shape a smarter, data-driven future.”
Conclusion
In the current era of technological advancement, data science is not just a career; it’s a driving force behind innovation and success across industries. For students, diving into this field offers immense opportunities, and with the right guidance and training, they can become the data scientists of tomorrow. At VART Consulting Pvt Ltd, we are committed to helping you unlock the power of data through comprehensive courses and workshops tailored to your learning needs.
Start your data science journey with us!
National Statistics Day 2024: Celebrating the Power of Data for Informed Decision Making
Written by Ankita Hazarika, VART Consulting
Honouring the Guardian of Numbers
In the ocean of information that shapes our world, there is a day that quietly honours the guardian of truth in numbers – National Statistics Day. Celebrated annually on June 29 in India, this event commemorates the birth anniversary of renowned statistics professor Prasanta Chandra Mahalanobis (born June 29, 1893 – died June 28, 1972). It is an invitation to reflect on the role of statistics in our understanding of society, the economy, and the nature of human existence. This year (2024), the theme of National Statistics Day, “Use of Data for Decision Making,” will emphasize the crucial importance of statistics in contemporary society and underscore the transformative impact of data science on the interpretation and application of statistical data.
The Legacy of Prasanta Chandra Mahalanobis
National Statistics Day was first celebrated in India on June 29, 2007, to honour Professor Prasanta Chandra Mahalanobis for his outstanding contributions to the field of statistics and economic planning. Best known for the Mahalanobis distance, a measure used widely in statistics, he also founded the Indian Statistical Institute (ISI) in 1931. His work laid the foundation for the development of new statistical methods in India and contributed significantly to the country’s post-liberation economic planning. Mahalanobis played a key role in formulating India’s Second Five-Year Plan, which emphasized industrialization and aimed to create a sustainable economy. His expertise in statistical methods profoundly impacted India’s economic policy and development strategy.
Celebrating the Human Spirit of Inquiry
National Statistics Day is more than just a celebration of numerical prowess. It is a celebration of the human spirit’s search for truth and understanding. It is a tribute to the relentless pursuit of knowledge and the tireless effort to capture the complexity of our world in a concise and understandable form. Behind every piece of statistical information, there are lives affected, communities changed, and futures shaped.
The Art and Science of Statistics
Amidst the grand symphony of human endeavour, where information flows like melodies through the ages, statistics emerges as the conductor, creating harmony from complexity. It is the art of collecting, analyzing, interpreting, and presenting data — a discipline that illuminates our world and empowers decision-makers. Like a master painter’s brush, statistics captures our collective experiences and aspirations in vibrant strokes of data. From the towering structures of economics to the intricate patterns of health and education, it provides a canvas for societies to shape their futures. In a rapidly evolving world, statistics stands as the guardian of truth, transforming vast oceans of information into actionable insights.
The Synergy of Data Science and Statistics
Edwards Deming once remarked, “Without data, you’re just another person with an opinion.” In today’s expansive information domain, where data moves fluidly like music, data science appears as the conductor creating harmonious tunes from the chaos of data. It combines statistical techniques with the power of computer tools, machine learning, and deep domain knowledge to reveal insights into complex and large datasets. Data science goes beyond being just a field; it is like magic that turns data into valuable insights, leading to optimization, prediction, and strategic decision-making in various industries.
Transformative Impact Across Industries
In healthcare, data science enhances patient outcomes with predictive modelling and personalized treatment plans. It foresees disease outbreaks, aids researchers in addressing global health challenges, and transforms our approach to wellness and medical care. In environmental research, data science acts as a guardian of sustainability, simulating climate change dynamics, optimizing resource management, and supporting initiatives that protect our planet for future generations. By combining statistics with computational power, it informs policies that balance progress with environmental protection.
In business, the synergy between data science and statistical analysis creates a rich narrative from each data point. It uncovers customer preferences, predicts market trends, and guides company strategies with precision. Using advanced analytics and machine learning algorithms, businesses can decode the complexities of consumer behavior and market dynamics, enabling swift, data-driven decisions.
Conclusion
National Statistics Day 2024 is not merely a celebration of numerical expertise but a tribute to the spirit of inquiry and the quest for truth that statistics embodies. Reflecting on the significant contributions of Professor Prasanta Chandra Mahalanobis and the transformative power of data, we acknowledge the indispensable role that statistics and data science play in shaping our society. From guiding economic policies to advancing healthcare and promoting environmental sustainability, the strategic use of data drives progress and informed decision-making. In the words of Carl Sagan, “Somewhere, something incredible is waiting to be known.” Embracing this spirit of discovery, National Statistics Day reminds us that the pursuit of knowledge through data is not just about numbers but about unlocking the potential for incredible discoveries that can shape a better future for all.
Scope of Statistics Subject in India and Abroad: Opportunity and Challenges of Modern Statisticians
Written by Hiranya Borah, ISS, EX-Deputy Director General, Ministry of Jal Shakti(Drinking Water and Sanitation and Author)
I often come across a question from many students and parents, ‘if I send my son/ daughter (or if I go for a study in statistics) to study in statistics what is his job opportunity as he/ she has failed to get a seat in medical or in engineering stream?’
My reply is always laced with some pride being a professional statistician, ‘First of all, to study statistics, one should not fail to secure a seat in medical college or an engineering college. When I studied statistics, I had to compete in my degree course with some very brilliant students including a rank holder in Class XII examination. Just for record, I had enough marks (in those days in medical college of Assam and in some medical and engineering colleges of other states, admission was taken place on the basis of Class XII marks) to get a seat in medical college and an engineering seat including at BITS Pilani. So, I studied statistics as per my own choice, not due to a compulsion. So far, your anxiety over getting a job by your ward (by you), I have never come across a single master degree holder in statistics, without a job. However, one can say that job is not satisfactory to him/ her.’
I think my small answer summarize whole issue of taking statistics as a subject in your graduation or in the masters. Let me elaborate little further, a statistics graduate can study in Operation Research, Computer science, data engineering and some other subjects also for building their career in some other subjects, not as a core statistician, if he/ she desires to change from a professional statistician to other field. If, however, he / she wants to continue masters in statistics for a master degree holder (even sometimes with a graduation in statistics) may have following job opportunities in India:
- Indian Statistical Service (Assistant Director or equivalent post as first posting-first promotion after 5 years, second promotion in 9 years, third promotion in 12/14 years as Director and 4th promotion after 19 years as JS level post, and can go upto Special Secretary’s post)
- Any other Group A post, examination conducted by UPSC. These officers can go upto the rank of JS of Government of India.
- Group B post, examination conducted by UPSC. These officers can go upto the rank of JS of Government of India
- Group C post, examination conducted by Staff Selection Commission to be appointed by Government of India. These officers can go upto the rank of DS of Government of India.
- Similar posts are also available in the state Governments all over India.
- If someone wants to go for Academics, one can go upto the post of VC of Universities.
- In many schools, as subject teachers also, master degree holders in statistics are appointed.
- Due to their proficiency in calculations etc. statisticians are preferred over others in Bank and other PSUs (Public Sector Units) of India. In fact, in all the PSUs statistical units are established.
- In modern world, data scientists/ analysts have great demand in almost all spheres of modern studies and therefore, statistics is a good subject to start with for these career options.
- Artificial Intelligence and machine learning have the roots in statistics only and therefore studying in statistics may have good foundation for these professionals.
- Regression models are also widely used in different spheres of life and therefore one can build up their career as an expert of regression models.
- Even simple statistical measures are used in factories for selling their products for which they also appoint statisticians nowadays.
- Market forecasters are also basically statisticians.
- Every now and then large quick surveys have to be done in the modern world. For that large survey agencies are engaged by different organizations. For example, Neilson has conducted more than 2000 surveys in the last three decades. Exit poll is one of the best examples where large number of statisticians appointed.
- One will be surprised to know that in India, in Government departments many posts are lying vacant as on today due to lack of qualified statisticians.
In other Countries and International Organizations:
Indian statisticians have high demand in other countries to develop statistical systems in their countries. If one wants to go for jobs in other countries, scope of getting a good job with a hefty salary is very high. For record, getting a good job is very high even in western countries. Getting an excellent job in third world country, is a cakewalk for good statisticians from India.
Similarly, in all the international organizations there are statistical units and these units are full of Indian Statisticians
But one should remember, what type of job you are going to get depends upon your knowledge in statistics.
Opportunity: A good statistician can be a good adviser to the policy makers of a country. The efficient statistician can guide policy makers to people centric policies. Professor Mahal Nobis, Professor C.R. Rao, Professor Tendulkar are the best examples how they have guided our policy makers in shaping the future of our country in the past. At present lot of good statisticians are also guiding our leaders in policy making of the modern India.
It is said ‘21st Century Belongs to the Statisticians.
Challenges: Major challenges for the modern statisticians are cropped up during the last few decades due to many reasons. Let me discuss few of them in a nutshell.
Basically, there are two types of statisticians.1. Statistical Administrators and 2. Developers of new statistical methods & techniques and discoverers / inventors of some theorems on statistics. Unfortunately, they have some conflicts. Before going to the conflicts, one should understand difference between statistics and other science subjects. Any scientific invention or discovery comes into use for the welfare of the mankind/ world/ country or organization or in that field within a year or so, even in some cases within few months. But statistical theorems, results etc. are not used for the welfare of the target groups even after lapse of decades.
Good statistical administrators are supposed to be aware of the latest statistical techniques and about new theorems etc. A good developer should know the needs of the administrators so that their intellectual products can be used by the policy makers and thus their products are useful for the target groups. Perhaps both the groups are yet to do justice to their bounden duties.
Modern statisticians should be aware of their duties and new good statistical techniques should be in use for the betterment of quality life for the people. So far, in most of the cases, statistical administrators are reluctant to use the latest technology and development of new statistical methods & techniques. On the other hand, most of the developers are developing new statistical methods and techniques only for the sake of developing without knowing why they have developed a new method or technique. Even if they know the answer of the ‘why’, in most of the cases they do not know ‘how those can be used for betterment of quality of life of the people.’
To end the conflict of thinking process of these two groups of statisticians and bridge the gap between the two sets of statisticians is the main challenge for ‘modern statistics or for a modern statistician who may have to play both of the roles at one point of time or more than one points of time in their professional life.’
Now let me come to the last part of my address. I can give you answers to some of your specific questions in the following manners:
I have grouped your questions into four groups: 1. Why one should take statistics as a subject? 2. How to prepare for ISS? 3. Whether one should go abroad for higher studies and 4. Some very technical questions on some statistical techniques.
At the very beginning, I have probably addressed your first group of questions. I am not the appropriate person to answer the fourth group of questions. Only a professor in university can address those questions properly and therefore, I am not going to answer on those few very technical questions.
So far preparation for the ISS examination, I can guide you by saying few things. As all of you are aware that about fifty percent marks are necessary to qualify in most of the competitive examinations. Having 90% and above marks in universities, why most of the students cannot get even 50% marks in the competitive examination? Whether the standard of our universities is very low? Whether the requirement for these examinations is different? Whatever taught in the universities are no use in practical world? There may be many questions on this particular issue. Perhaps the actual reason is the combination of all these reasons.
In most of the universities, notes are given by a particular teacher and he/ she sets the question paper and he/ she examines the answer scripts also. Thus, the best result has never come from a student who has good knowledge in the subject but from the student who can do it in the best way of ‘commit and vomit’ in a university examination. But contrary to that in a competitive examination, classes are taken by a group of teachers most of whom were never been in the panel who will set up questions for the examination. Those who will set the questions, they will not examine the answer scripts. So real knowledge test is done for a student in the competitive examination.
A student is always tempted by different ‘Academy’ to enroll their institutes by giving a glossy picture that so and so of our institution has cracked so and so examination. But they will never say how many got into that elite group of successful candidates from among how many enrolled students (passed and failed ratio of the students enrolled).
Then what is key of the success? It is simple, read only the standard books of the subjects. One can consult guide books only to know what types of questions are asked; not for looking at the answers. One should find the answers from the standard books of the subject.
In the interview, only basic questions are asked with some twists and turn by giving some possible conditions that actually happens in the real world. Hypothetical questions are normally avoided even though the interviewer may start like this, ‘I want a hypothetical question….’ . I am saying this only because I am fortunate to be the chairman or a member of many boards comprising of at least 1000 candidates for recruitment or for promotion. Some of these were for promotions from Director to Senior Directors level.
I think for ISS examination also, one should read only the standard books available in the market. One need not and should not read the notes of the university classes/ guide books for the examination. Further, always tell yourself, ‘If Hiranya Borah can crack ISS examination in the first attempt, why can’t I.’ I am sure you can crack the ISS examination very easily.
So far 3rd point is concerned, if you can afford, you can go abroad for higher studies. Answering a very specific question, whether, one should go for his studies to London, I cannot comment, because so far, I know, if you go to London for higher studies after taking a loan it is comparatively difficult to return the loan amount than returning loan for studying in USA and other European countries due work policy of Great Britain.