Data Science Business Analyst

By Urbi Ghosh, 3rd Eye Advisory Ltd
Data Science Business Analyst

Data Science: Essential Role of a Business Analyst

Firstly, I would like to answer the much asked question- Who is a Business Analyst?

A business analyst is somebody who investigates a company's domain (genuine or theoretical) and reports its business or procedures or frameworks, surveying the business model or its amalgamation with technology.

The most recent decade has observed a swift gush in tremendous quantity of data, which ventures have, on their clients. This humungous data is created from unique sources like online networking, cell phones, applications, monetary transactions, web based businesses (e-commerce) and Internet of Things and so on.

An estimate says - Between 2005 and 2020 a growth in factor of 300 will be seen. It will grow from 300 exabytes to 40,000 exabytes or 40 trillion gigabytes. From now, till the time we reach 2020, the computerized world will go about twofold at regular intervals.

Formerly, through several different data mining tools & methods organizations could easily investigate smaller sets of data. But, with the data up surging from various sources, data science as a field is rapidly rising. Data science alludes to interdisciplinary field about logical techniques, processes, and frameworks to remove information or insights from data in different structures, organized or unstructured, like data mining. The key feature of the definition is "insights" as it implies producing discoveries which are beforehand not known from conventional data mining procedures or basic pattern and regression analysis. That is the reason data science as a field is thought to be at a convergence of Statistics, Arithmetic, Programming and Business related information. One of the easiest cases of use of data science for any organization is its capacity to anticipate client attrition ahead of time. It can help the organization to take a shot at securing client as opposed to concentrating just on costlier client procurement.

Field of data science is exclusive as the teams might not be able to comprehend what they are searching for in the data as the insights may generally not be a as the bits of knowledge may generally not be an exact fact. Henceforth the part of business analyst turns out to be so crucial in this field as you would require a man who is familiar in the IT space as well as talk in the language of business pioneers.

One more vital part of the business analyst for data science assignments is to recognize the "ideal" model for the data at hand. The business analyst in data science ought to have the information to outline the correct hypothesis to test it.

Most organizations are not ready to understand the genuine potential of data science as they depend vigorously on data scientists only, who are exceptionally capable at data arrangement, cleaning and modeling or composing programming code by means of tools like python, R, SPSS etc. but do not have knowledge about the domain and significance of data in business setting. This is the place where the business analyst possesses an extremely significant part of spanning the partition between the business groups and IT division for intricate data science projects.

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Article by: Urbi Ghosh, 3rd Eye Advisory Ltd
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