Data Science and Decision Science are interrelated yet different and new-age concepts. They are much needed and used in today’s fast-evolving business ecosystem where newer trends and technologies are replacing the older methods of functioning.
Employers are looking to employ qualified professionals as this is a relatively new domain. A certification from a reputable institute will add value to your resume and enhance your credibility in the job market. It then becomes imperative to take up an Advanced Certification in Data Science and Decision Science course to be the first choice when it comes to hiring or promotion.
Data Science and Decision Science (Article Index)
Need Of Data Science Today
Need Of Decision Science Today
Data Science Vs Decision Science in A Nutshell
Decision Science and Data Science Jobs
Benefits Of Advanced Data Science Course By IIT, Delhi
Key Highlights
In this era when there is a surging demand for data scientists and decision scientists in India, it makes sense to go for professional certification for an upward career graph.
The benefits that you can get from an advanced data science course like the one offered by IIT Delhi range from career advancement, lucrative pay, confidence to face job challenges, enhanced trust of company heads, etc.
Decision Science Manager salary range is ₹11.2 Lakhs to ₹ 69.0 Lakhs and the average annual salary is ₹18.7 Lakhs.
The Data Science Manager’s salary range is ₹ 13.5 Lakhs to ₹ 45.8 Lakhs and average annual salary of ₹ 29.1 Lakhs.
Need for Data Science Today
Data science is a field of study that uses math and technology to extricate deep insights from a large amount of data. It is primarily done using analysis, perception and computations based on mathematics. It aids organisation in becoming more informed and efficient and thereby generates more business by identifying the business opportunities at hand.
The common applications of Data Science are many. They are used by establishments for various purposes like analysing customers' behaviour, detection of frauds, management of risks, trading in stocks, adverts that are targeted, personalisation of websites, service to customers, predictive maintenance, management of supply chain and logistics, recognition of images and speech, processing of a natural language, diagnosis of medical problems and cyber security.
It has gained prominence because of advancements in technologies, a large amount of data and businesses going online apart from other factors. It is fast becoming the base for business decisions in several industries today. This is why data science is hogging the limelight in recent times.
Data is of no use if it is not analysed by intelligent minds to reach informed data-driven outcomes. Hence the role of data scientists is of immense importance these days. Thus, the demands for data science and capable professionals in this domain will continue to increase at an alarming speed in the very near future.
With so many applications in almost all industries - whether big or small, data science is required to analyse the available data and make decisions based on those analytics. It helps to determine and comprehend the market trends, make the losses minimal, and translate them into big profits. A degree in Advanced Data Science Course plays a key role in getting a firm foothold in this domain.
Need Of Decision Science Today
Decision scientists make use of comprehensible data to arrive at decisions that prove useful in the long run. Since decision scientists are not easily available due to a lack of specialised training, their demand is higher. If you know both, your chances of growth multiply by manifolds.
This field uses quantitative techniques. Previously, it was named operations research or management science. This domain utilises skills like mathematics, business understanding, technology, design thinking, and behavioural sciences.
It is about making the best suitable choices as per the data /information available. It includes normative analysis, risk analysis, cost- analysis and other key aspects that matter to the business. It also involves microeconomics, social and cognitive psychology, management control and computer science.
Decision Science has been very useful in various businesses and its management, law and education, to bring regulations in the environment, military science, private healthcare, and public health and policies enhancing retail industry sales, proving useful to the banking industry, changing the aviation industry, transportation, communication and so many more.
With the accumulation of data, you are equipped to take actions that might prove to be beneficial for your business. But to make full use of this data efficiently and effectively you require decision science. It helps to use that data to very good use to make business decisions that are vital for it.
Why Both Data Science And Decision Science
In today's competitive and changing business landscape, the success of a business lies largely on the decisions it makes. Understanding the importance of both data science and decision science, businesses certainly value someone knowing both data science and decision science. Alternatively, they would hire decision scientists as well as data scientists to direct managers to take decisions that help in improving their bottom line. Having the right people in the decision-making role ensures a strong business strategy.
This makes it necessary for those interested to build a career in this domain to do a specialised Data Science Certification course from reputed institutions like the IIT Delhi. This course covers both verticals i.e., data science as well as decision science.
It is all the more important because several studies and reports suggest that businesses are investing heavily in data analytics. The data that is sourced will help them understand various facets of business like the personalities of their customers and their expectations.
Data Science helps in marketing the products better, acquisition of customers for the business, aiding in innovation for the organisation to tracking the performance better with better products. Moreover, strategic decisions result in increased ROI which is the ultimate goal of every business.
Data Science Vs Decision Science In A Nutshell
Although both are interrelated there are some major differences that mark them as different from each other. Data science analyses data that is an instrument of innovation while decision science uses that data to help make better decisions. With regard to purpose, data science gives a deep perception of structured or unstructured data while decision science works to unearth that insight boosted by the data.
Data Science And Decision Science Jobs
The type of jobs available in Data Science - Data Analyst, Decision Scientist, Decision Science Managers, Data Engineers, Database Administrator, Machine Learning Engineer, Data Scientist, Data Architect, Statistician, Business Analysts and Data and Analytics manager.
Enrol for the best Data Science Courses Online and land your dream job to become a Business Analyst, Software Developer, Data Scientist and Data Analyst.
Benefits Of Advanced Data Science Course By IIT Delhi
IITs all over the country are very prestigious institutions where it is the dream of every student to enter. So, if you have the chance of studying one of the advanced certification courses from IIT Delhi then you will be lucky enough to land your dream job.
A Data Science Course from the institute will help you understand business analytics, develop an ability to solve problems by incorporating mathematical concepts, analyse the data and help the business to move ahead in the right direction despite tough challenges and competitive times.
To know more: https://timestsw.com/course/iit-delhi-advanced-certification-in-data-science-and-decision-science/
