Know the power of Data Science as the new oil to the digital economy

ByVikash Singh

Nowadays we get to hear this ubiquitous quote “Data is the new oil.” But why has there been such a hype about it? Or is there an essential function that Data science is serving in this rapidly growing world? There must be numbers of questions related to this emerging field.

So let’s delve deeper into this subject.

Nowadays, every organization has its own Data Science Department. This is because it is a powerful tool to organize the raw information (related to progression and regression) on one platform.

Data science is an integrated platform which provides information on data mining, statistics, predictive analysis and many more.

Let’s take an example- Suppose there is a media company trying to grow its business through social media platforms. A situation wherein there is no data measuring tool, the progress or deterioration will remain immeasurable. Suppose a data analysis tool is incorporated, then the company will get a clear picture of developments, loopholes and more. They will also be able to extrapolate relevant information on understanding audience behavior. Another essential aspect which data science offers is the knowledge of profitable areas.

Sometimes the audience responds to areas where the company has put a little effort and vice versa as well. Through Data science, such intricate information can be extracted with great ease. Without that knowledge, there could have been more situations of failure. This is precisely the reason why Data is being regarded as the new oil. It is finding immense space in small, medium and established ventures. Undeniably, this tool is organizing every nitty-gritty on one plate. This is a massive revolution in itself. Now many of us would be wondering, how to master this skill?

PGP Data Science Programs Fostering, Valuable Professionals.

This is a vast field. There are many subcategories under this subject. Two of the most prominent PGP Data Science Programs are enlisted below:-

1. PGP Data Science and Business Analytics 

2. PGP Data Science and Engineering 

These are six months to 1-year programs which educate students in every aspect of Data Science. Students get to learn various technical subjects. The curriculum majorly includes:-

Python, SQL, Machine Learning, Data Analytics, Decision Making, and more.

Students are provided hands-on training along with conceptual studies.

These Data science programs help the students to transform into professionals. They get well equipped with Decision-making skills, Risk management skills, and more. They get deeper insights into the study of organizational growth. In this way, these professionals are able to provide a practical approach to grow business.

Very often, students get placement assistance while they enroll for a PGP program. They get to work on live projects. They are regularly exposed to a real-life situation which enhances their expertise and increases their chances to get their spot in some of the influential organizations.

 There is a huge demand in this field, in India and globally as well. Lakhs of job opportunities are available in this field. It is mainly because as more and more people are building their businesses, they require vital indicators and tools to expand. Already established companies and MNCs wants to improve themselves and learn about consumer behavior constantly. All this is possible through Data science only.