Data Science is the process of using data to find solutions/to predict outcomes for a problem statement. The goal of data science is to gain insights and knowledge from any type of data — both structured and unstructured.
To better understand data science, let’s see how it affects our day-to-day activities.
It’s a Monday morning and someone has to get to office on time and quickly open up Uber and look for cabs, but there’s something unusual the rates are comparatively higher at this hour of the day.
Why does this happen?
Well, obviously because Monday mornings are Peak hours and everyone is rushing off to work. The high demand for cabs leads to increase in the cab fares. We all know this but how is all of this implemented?
Data science is at the heart of Uber’s pricing algorithm. The surge pricing algorithm ensures that their passengers always get a ride when they need one. Even if it comes at the cost of inflated prices.