Who can predict which customer is going to cancel a newspaper subscription before it actually happens? A soothsayer, right? Wrong! It’s a Data Scientist.
The New York Times recently hired a Chief Data Scientist for this very purpose in order to save the publication from its dwindling position in the industry. The new Data Science Training team in the company is working to create a data model that will predict which customer is going to cancel subscription based on insights about what makes customers stay and how to retain them. Not just New York Times, but a whole lot of companies who are looking to manage Big Data are now hunting for data, scientists to rescue them from this vast ocean of information.
What is Data Science?
Data Scientists are experts who possess multifarious skills to design and develop complex algorithms, models, and visualizations that allow enterprises to extract useful insights from large amounts of data.
Data Science is a discipline that incorporates theories and studies from various fields including:
- Mathematics
- Statistics
- Probability
- Computer Programming
- Data Warehousing
- Data Engineering
- Pattern Recognition
- Machine Learning
Also, it’s not just data crunching, this field entails deep understanding of business challenges, uncovering valuable insights and communicating these to management for appropriate action.
So, get set to take up the challenge and step forward on the path of an exciting career ahead.
Reference: Pinal Dave (https://blog.sqlauthority.com), YouTube
