Close Navigation
Learn more about IBKR accounts
Top 8 Skills To Become a Data Scientist

Top 8 Skills To Become a Data Scientist

Posted March 16, 2022
FINNSTATS

Do you want to learn about Data Science Skills that will help you land a job?

If so, take a few minutes to read this blog to learn about the Data Science skills you’ll need.

What is the purpose of data science?

Data analytics, data mining, machine learning, Artificial Intelligence, and deep learning are all examples of data science.

Many businesses are turning to data science these days, particularly for marketing objectives. They use data science to uncover various patterns that assist them in increasing their sales.

Data science assists in the extraction of meaningful information from vast amounts of data supplied by customers.

A store, for example, creates a large amount of data every day, yet this data is meaningless.

Several interesting and useful pieces of information can be extracted from this massive and useless data using Data Science.

Different shopping tendencies might be discovered, which aids in the rise of product sales.

For example, after analyzing supermarket data, some intriguing facts were discovered, such as the fact that customers who came to buy milk always buy bread.

As a result, this pattern aids the supermarket management in properly organizing merchandise. That is to say, combine milk with bread. Bread sales will grow as a result of this.

As a result, the majority of businesses are adopting data science, yet demand is strong and supply is low in this discipline.

That is why data scientists and data analysts are in such high demand. So, if you’re interested in working in that profession, first and foremost, We would like to congratulate you on making the proper decision.

In the discipline of data science, there are numerous job options.

How to Become a Data Analyst with No Experience » finnstats

Top 8 Skills To Become a Data Scientist

If you have the following 8 Data Science talents, you will have no trouble mastering the subject and landing a job.

Programming Skills

Statistics or Probability

Machine Learning

Multivariate Calculus and Linear Algebra

Data wrangling.

Data Visualization.

Database Management

1. Programming Skills–

The first skill you’ll need to enter the data science field is programming knowledge. You should be familiar with at least one programming language, such as Python or R.

Python and R are the most commonly used programming languages in Data Science, therefore master one of them.

We prefer Python because it is simple to learn and is an excellent programming language for data scientists. Python is a versatile language that may be used for a variety of Data Science tasks.

Data science is difficult to do if you don’t know how to program. So, first, brush up on your Python skills, or learn Python if you’re a beginner.

Regression Analysis Example-Ultimate Guide » finnstats

2. Statistics and Probability-

In Data Science, a solid understanding of statistics and probability is required. Extraction of knowledge, prediction, algorithms, insights, and so on are all part of data science.

As a result, statistics knowledge is required to accomplish these actions.

You can predict future trends and spot patterns in data if you have a good understanding of statistics.

Intro to Tensorflow-Machine Learning with TensorFlow » finnstats

3. Machine Learning

Machine Learning is the ability for machines to learn and make decisions on their own. Machine learning makes machines intelligent, allowing them to conduct intelligent actions.

You should be familiar with machine learning algorithms such as the k-nearest neighbor algorithm, Random Forest, Naive Bayes, and Regression.

Machine learning can be used in Data Science to do fraud and risk detection, spam filtering, and facial and voice recognition.

In the vital and emerging data science subject of healthcare, you can apply data science with the help of machine learning.

Sentiment analysis in R » Complete Tutorial » finnstats

4. Multivariate Calculus and Linear Algebra

Multivariate calculus is significant since it aids in the creation of a machine learning model. Some questions about multivariate calculus may be asked by your interviewer.

As a result, you should have a rudimentary understanding of multivariate calculus.

The cost function, gradients, and derivatives, Sigmoid function, Step function, Plotting of functions, scalar-valued function, vector function, and so on are some topics you should be familiar with if you want to work in data science.

Animated Graph GIF with gganimate & ggplot » finnstats

5. Data wrangling-

The process of cleaning data and preparing it for analysis is known as data wrangling. You work with a lot of data in data science, and that data is messy and noisy.

You should know how to clean up messy and noisy data. Because it contains noise and is not in the correct format, the data you collect is not ready for analysis. As a data scientist, you should know how to clean data and prepare it for analysis.

In data science, data wrangling is a must-have ability, and do you know one thing? This is the most straightforward and enjoyable aspect of Data Science.

Principal Component Analysis in R » finnstats

6. Data Visualization-

The term “data visualization” refers to a graphical representation of data or findings. If you want to communicate with end-users as a data scientist, you must be familiar with data visualization.

Data visualization allows you to present your findings in a more detailed manner, making them easier to comprehend for end users. It also makes it simple to compare different predictions.

You can utilize a variety of visualization techniques for your work, including histograms, pie charts, bar charts, scatter plots, time series, heat maps, and more.

Tableau, Power BI, matplotlib, ggplot, and other tools are available for visualization work.

K Nearest Neighbor Algorithm in Machine Learning » finnstats

7. Database Management-

Because everything in data science is close to the data, you need to have database management abilities. You should be familiar with database management.

You’ll be working with a lot of data in data science, so you’ll need to know how to deal with it. You should be familiar with SQL.

Logistic Regression R- Tutorial » Detailed Overview » finnstats

8. BigData

Today, a massive amount of data is generated on a daily basis, and this massive amount of data is beneficial in the field of data science. This BigData is used to train and forecast the outcome of a machine learning or deep learning model.

This massive amount of data, which might be structured or unstructured, is inaccessible to standard databases. That is why frameworks for handling or processing large volumes of data exist. Hadoop is the name of the framework.

You’ll need to know how to deal with large amounts of data in Data Science, and you can study the foundations of Hadoop to do so.

Hope you now have a clear picture of the skills you’ll need to succeed in Data Science.

Visit FINNSTATS for additional insight on this topic: https://finnstats.com/index.php/2022/02/10/skills-to-become-a-data-scientist/.

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from FINNSTATS and is being posted with its permission. The views expressed in this material are solely those of the author and/or FINNSTATS and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.