The confusion between quants and data scientists
If you haven’t been living under a rock, then surely you must have heard about quants. To put it simply, the quants or the quantitative are the people hired by a company or a business to crunch the numbers. The main purpose of the quants is to solve all the mathematical problems and advise for risk management.
The job sounds difficult and important, but these people were much under-appreciated and underpaid if you pay attention. That is not the case with data scientists. Now the confusion starts. As we know, the job of a data scientist is somewhat similar to that of a quant. Data scientists like the quants also process the data for insight into the patterns of trade. So the confusion is imminent, but there is a very major difference between the two jobs.
Difference between quants and data scientists
The first difference that you might have already guessed is that the data scientists are paid much more handsomely than the quants. But the question is, why should there be a difference in payment if they perform the same task. The answer is they do not perform the same task entirely.
Without getting too much into the technical jargon, the difference can be simply explained as their tasks’ approach. The major portion of a quant’s work involves only mathematical equations, and most of the output is theoretical without many practical implications.
This is the area where the data scientists are becoming more efficient than quants. If you are a data scientist, you will need to work with real-time data to gain information. The output that a data scientist gets from processing all these data is more practical and directly involved in the company’s decision-making process.
Why are data scientists now an integral member of any business?
If you are thinking about taking up data science as a career option but are worried that you will be just a quant, there is nothing to worry about. Unlike the quants, data scientists are respected and a much more integral part of its decision-making process.
A data scientist not only processes the acquired data to gain insights, but also develops a model using those data. This model is capable of not only predicting the future market prices under any condition but can also chart out different probable paths the company can take in those situations. Moreover, all the data used and the predictions given are based on real-time data, which means they are perfectly equipped for real-world applications.
So if you are worried about becoming a quant if you choose data science course, then you need not be. The demand for data scientists all over the world is growing at a steady rate. The salaries offered for the post of data scientists is more than enough. So if there ever was a right time to choose data science as a career option, it is now.
Where can you get the data science course in Hyederabad?
Now your mind is set on becoming a data scientist then the next question is where can you find the best Data Science Training in Hyderabad. The increase in popularity of data science as a career has spiked the number of interested candidates. So you can get ample options for a data science course. Be smart and choose the right one. So now it’s time for you to reach your full potential and become a data scientist.
You can reach us at :
ExcelR – Data Science, Data Analytics Course Training in Hyderabad
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