Why Economists Need Data Science
Economists can become excellent data scientists and complement the skills of Data Scientists from other fields. Actually, Data Scientists and Economists have a lot in common. These fields have strong statistical underpinnings, use modeling to address quantitative issues, and demand adept analytical abilities. In addition, data science is transforming several fields that economists work in, including banking, finance, public policy, and consulting. A Quick Comparison between data science and economics The primary distinction between economics and data science is how they approach their research questions: whereas data scientists are interested in prediction, economists are more interested in causation. In order to draw conclusions about a complex system from data, statistical hypotheses must be satisfied in both economic and data science modeling methodologies. You can visit the comprehensive data science course in Bangalore if you want to gain in-depth knowledge about it. ...