Aamir Qutub
Founder & CEO Enterprise Monkey
Founder & CEO of Enterprise Monkey - a
multinational digital firm with a presence in 4
countries and an investor & tech co-founder in 8
startups. I was fortunate to be felicitated with
"Australian Young Business Leader of the Year"
award. In the past, I have been: - Appointed as
Advisor, Minister for Planning, Victoria,
Australia - Appointed as General Manager of
ICT Geelong at the age of 25
1/22/2021
Data Science Job In Australia
What Does A Data Scientist Do
A data scientist is someone who can solve complex data problems. So, as you
can imagine, a data scientist needs to have strong expertise in different fields
that can include computer science, statistics, and mathematics, among others.
In addition to this, a data scientist uses the latest technologies to find the best
solutions and conclusions for a company's growth.
Ultimately, a data scientist takes raw data and transforms it or looks at it from so
many different perspectives that he can withdraw valid conclusions. Besides,
some of these conclusions may be used to make decisions.
What Does A Data Scientist Do?
One of the most important things to keep in mind is that a data scientist can work
in many different industries. After all, data science has many different uses
between creating new products, innovating in their sectors, and even making the
Data Science Job In Australia
Aamir Qutub
world more efficient. But let's take a look at some practical examples so that you
can understand what exactly a data scientist does.
1: Logistics:
UPS is just one of the many logistics companies that decided to use data
analysts to save money and improve their overall revenues. Putting it simply, the
company is used data science-backed statistical modeling and algorithms to
build the On-road Integrated Optimization and Navigation (ORION) tool. This tool
allows them to create the best routes for delivery drivers and it takes into
consideration a wide range of factors such as construction, traffic, and weather,
among many others.
By using data science, the company is saving a lot of money not only in fuel but it
is also prolonging the life of their trucks since they don't need to do so many
miles.
2: Healthcare:
The healthcare industry is a perfect example where you can see a wide range of
areas and tools that are using data science. Since healthcare companies have
been collecting data for many years now, they are now using it to diagnose
diseases faster, practice preventive medicine, exploring new treatment options,
and even understand diseases.
3: Finance:
Both data science and machine learning have been being used n the financial
industry for quite some time. The reality is that they already saved this industry
not only time but millions of dollars as well.
Some fintech companies like PayPal and Stripe have been investing a lot of
money in data science so they can be more efficient in detecting and preventing
fraudulent activities. Another example is JP Morgan’s Contract Intelligence
(COiN) platform. Simply put, this platform uses NLP (Natural Language
Processing) to process and extract vital data from around 12,000 commercial
credit agreements each year. To see the huge gain this represents, this would
take about 360,000 manual labor hours to complete when it is now being done in
just a few hours.
4: Self-Driving Cars:
Companies like Google, Volkswagen, or Tesla are making huge investments in
data science to ensure their self-driven cars are safe. These companies are all
using predictive analysis.
They have all their prototypes filled with thousands of tiny and micro sensors and
cameras to get information in real-time. Then, by using machine learning,
predictive analytics, and data science, self-driven cars "know" how to avoid
dangerous lane changes, can adjust to speed limits, and they can even take
passengers on the quickest route.
5: Cybersecurity:
There's no question that if there is an industry that has been increasing its
importance is cybersecurity. After all, we spend more and more time online
making us more prone to identity theft, for example.
Kaspersky, an international cybersecurity company, is already using data science
as well as machine learning to detect malware, for example.
6: Entertainment:
Well, data science is present even in the entertainment industry.
If you like to listen to music while you are working or simply when you are
relaxing and you use Spotify, then you may have noticed that it recommends the
perfect songs for you. Well, this isn't a mistake as well as it isn't luck. Spotify is
already using data science to better serve its customers like you. But Spotify is
not alone. Netflix is another entertainment company that is also using data
science. Simply put, the company uses a data aggregator that recognizes the
type of shows you like and recommend the most pertinent ones.
Thanks
Aamir Qutub
