Data has an impact on the way people live. According to a recent survey, it is a fact that the data generating rate is more than the human birth rate. The extensive landscape of Big data has unveiled by the digital economy. Several industry experts in the fields of data analytics, data mining, data engineering, and data science are using it.
In this article, let’s have a look at significant differences between Big Data vs. Data Science vs. Data Analytics.
In the present day scenario, we are witnessing an unprecedented increase in generating information worldwide as well on the Internet to result in the concept of big data. It refers to an extensive collection of data from distinct resources and not available through standard formats, which most of us are aware of.
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Therefore, regardless of types, information can be understood as big data, and processing usually begins with data aggregation through multiple sources. Still, some confusion exists between Big Data, Data Science, and Data Analytics though all of these are the same regarding data exchange, their role and jobs are entirely different.
Forbes magazine published an article stating that data is continuously growing than ever before and by 2020, more than 1.7 MB of new data in every second would be created for every living being worldwide. In this scenario, it is essential for one to know data rudiments since the future lies here.
Big Data is the term rounding everywhere for some time now. Still, there is a lot of conclusion about what it means. In fact, it is continually evolving as it remains the driving force behind several trending digital transformation waves such as Data.
It is not easy to process big data using traditional data analysis methods. Instead, specialized modeling techniques are essential to processing unstructured data, systems, and tools to extract information and insights required for organizations. Big data is the best way to solve unsolved problems related to handling and managing data. With big data analytics, unlocking hidden patterns and have an idea of customer’s to address their needs.
Big data generation is in multi-terabytes. Unlike traditional technologies like RDBMS, big data changes fast and appears in distinct forms that are difficult to process and manage. Big Data solutions provide the techniques, tools, and methodologies to capture, store, analyze and search the data in seconds to find insights and relationships for innovation and competitive gain.
Data Science encompasses data cleansing, analysis, and preparation. It is an umbrella term in which several scientific methods apply. Tools like mathematics, statistics, and several others use data sets and scientists apply them to extract knowledge from data.
[ Related Article: Overview of Data Science ]
Data Science is a tool to tackle Big Data and to exact information. Data scientists initially gather data sets from distinct disciplines and then compile it. After compilation, they apply predictive analysis, machine learning, and sentiment analysis.
Proceed with sharpening the point to derive something. Finally, he extracts some useful information from it. Data scientists understand data in a business view and provide accurate predictions and charges for the same, thus preventing a business person from future loss.
It is a fact that most of us think both data science and data analytics are similar, which is not correct. They both differ at a minute point, can notice that through deep concentration. Data analytics is the fundamental level of data science.
Data analytics are mostly used in business and computer science and in commercial industries to increase business efficiency. It is the science required to draw insights from raw information sources and discloses the metrics and trends t/o avoid massive data loss. Data analytics are used to verify existing theories and to enable organizations in several industries to make better decisions.
The vital element when trying to advance in the retail business is only possible through staying competitively and serving the customer in a better way. It is possible only through proper analysis of all resources of disparate data dealt daily by organizations such as weblogs, customer transaction data, social media, loyalty program data and store-branded credit data.
Big Data service offering firms like retail banks, private wealth management advisors, insurance firms, credit card companies, etc. for their monetary services use big data in distinct ways such as customer analytics, fraud analytics, compliance analytics, and operational analytics.
Telecommunication service provider’s priorities are to retain customers, expanding the existing customer base, and gaining new ones. To fulfill this goal, combine and analyze the customer as well as machine-generated data on a daily basis.
Before looking into data science applications, let’s have a glance at retargeting or remarketing- the ad banners on random websites or any products displayed while you search for on the internet.
These products are used to show a target audience who decided to use data science Data science enables the organizations to determine the patterns and behaviors of the users. Through this, the digital ads become popular and running successfully with better CTRs.
Search engine algorithms use data science to deliver accurate results for queries. Data science is used to process a significant amount of queries and convert them into useful patterns. It enables providing accurate results according to the user’s requirements.
In this advanced technological era, e-commerce has become a robust industry with massive demand for online shopping. It led the logistics companies to improve their delivery experience and to attract the organizations to use data science to understand the absolute paths.
Finance companies are required to verify continuously on their toes to not fall into fraud loans, debts and losses. Data science helps these companies with broader security check and improve customer profiling and to find patterns that help them in risk and fraud detection.
Many firms use data analytics for energy management including energy optimization, building automation in case utility companies, smart-grid energy, and energy distribution. The primary focus is to monitor and control network devices, dispatch crews, and service outage management.
Core pressure is the primary challenge that hospitals are facing today as it tightens the treatment of several patients, data analytics helps hospitals to improve the quality of care. Machine and instrument data is used growing for optimizing and tracking treatment, patient flow, and equipment use.
Data analytics in gaming includes data collection to optimize and spend across games. These manufacturing companies get a good insight into likes, dislikes, and the user's relationships.
Data analytics in Travel helps to optimize buying experience via website blog, data analysis, and social media. Customer’s desires and preferences can correlate with the existing sales followed by browsing can enhance conversions.
[ Related Page: Big Data Overview ]
Whether it is all about Big Data or Data Science or Data Science vs. Data Analytics or Data Analytics vs. Big Data, it is a universal fact that maintaining some specialties in those areas which an essential skill is to companies today. So, if you are an IT expert planning to make your career in data analytics to the next level, then it is vital to consider any of these fields. Also, companies can also find employing services of these professionals as they help out in several years of insight and decision making.
Ravindra Savaram is a Content Lead at Mindmajix.com. His passion lies in writing articles on the most popular IT platforms including Machine learning, DevOps, Data Science, Artificial Intelligence, RPA, Deep Learning, and so on. You can stay up to date on all these technologies by following him on LinkedIn and Twitter.