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Showing posts from October, 2021

Data Scientist's Roles and Responsibilities

  Data Scientists: Data scientists are data analytics experts who discover trends and patterns of data by using their skills like industry knowledge, contextual understanding etc. “The goal is to turn data into information, and information into insight.”— Carly Fiorina Data scientists are one of the most highly paid jobs and most demanding careers of today’s time. It is a profession in which a large amount of data is collected, analyses and interpreted. In simple terms, a data scientist’s job is to transform unstructured raw data into meaningful outcomes, so that problems can be solved and optimal organizational decisions can be taken. In business, data scientists work is to mine big data into information which can be used to predict either customer behavior and identify new opportunities to enhance growth of an organization. To become data scientists, necessary skills are required which you can get by studying data science . The demand for data science skills has grown si...

Time Series

Time Series is a series of data points ordered in time. In mathematics, time series is a sequence taken at successive equally spaced points in time. In simple words, it is a sequence of discrete time data. Time series tracks the movement of the chosen data points over a specified period of time with data points recorded at regular intervals. Definition: According to Mooris Hamburg “A time series is a set of statistical observations arranged in chronological order”. Uses of Time Series: It is used for prediction or to detect the changes in patterns in collected data. Here are few uses of time series mentioned below:         Used to predict future values         Evaluation of current achievements         Identify the changes in economics and business         Pattern recognition         Weather forecasting         Earthquake prediction       ...