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Earlier, I referenced
the tremendous amount
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of data generated each day.
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It has become a byproduct
of modern life.
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For companies and organizations,
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all this data can provide
insight into the ways they
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operate and ultimately interact
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with their users and consumers.
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To obtain these insights,
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organizations need people
with the ability to access,
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interpret, and share the
stories within their data.
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Organizations understand
that data can inform
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decision-making and
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explain consumer trends
and user behavior.
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Data professionals
use data insights
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to optimize products
or services.
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There's a common phrase and
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data-driven decision-making that
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references the untapped
potential of data.
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The phrase is, "Imagine
if we knew what we know."
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Basically, it's a way of
asking the following question.
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How can we take all that
data that may already exist
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and translate it into meaningful
and actionable insights?
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To gain insights,
businesses rely
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on data professionals
to acquire,
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organize, and interpret data,
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which helps inform internal
projects and processes.
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Businesses seek
those who can access
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data and understand its metrics.
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As a reminder,
metrics are methods
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and criteria used
to evaluate data,
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both are necessary before
creating predictive models that
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can identify trends and
inform best practices.
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That's where you'll come in.
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The combination of all these
skills from statistics and
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scientific methods
to data analysis
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and artificial intelligence,
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all fall within the
category of data science.
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Data science is the discipline
of making data useful.
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To me, the idea of usefulness is
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tightly coupled with
influencing real-world actions.
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Some individuals with these
skills may work on developing
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business insights and
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supporting strategic
decision-makers.
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Others may use data skills
to fuel automation,
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testing, and analytic
tool development.
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Still others may focus on the
analytic process itself by
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adapting modeling approaches to
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incorporate new and
emerging technologies.
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Data is the foundation for
making future decisions.
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It's through our actions and
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decisions that we affect
the world around us.
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Businesses and
organizations need people
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like you who can
think critically and
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analytically about how
to directly address
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challenges and opportunities
through data focused projects.
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The work of data professionals
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can provide businesses
and organizations
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with details about
their practices
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that can promote new
approaches and innovation.
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This might make a
little more sense if
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we take a closer
look at an example,
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a global delivery
company, for instance.
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Generally speaking,
delivery companies are
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responsible for transporting
goods to consumers.
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A company as complex as this
is going to have a number
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of different data inputs
of streams that influence,
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impact, and affect the ways
the business operates.
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These data inputs
and streams may
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include but are not limited to
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weather and traffic
patterns which
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affect when deliveries
are predicted to arrive.
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Gas price trends
and fuel economy,
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which affect shipping
costs and profit margins.
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Truck loading times in
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relation to the number
of workers available,
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which affects the
time it takes for
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the delivery to reach
its final destination.
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How users interact with
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the company's app to
track their packages,
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which affects the
customer experience
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and the company's ratings.
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Whether users engage with
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marketing emails sent after
they make specific purchases,
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which impacts future
and repeat sales.
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My point is, each of
these variables affects
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the way organizations harness
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data to transform decisions,
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automating and adapting
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machine-learning
where applicable.
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The ability to unlock
transformative information
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within data is a skill
that businesses seek.
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As you progress
within this program,
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you'll discover how
data professionals
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can make meaningful
contributions to
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almost any organization by
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finding action oriented
solutions within data.7129
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