What is Data Science

If you google, you'll find many definitions and it's confusing. But what data science really is?

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It's taking thousands of forms of data and deriving meaningful conclusions from it.

What can data do?

  1. Data can describe our current state.
    • It can be accomplished through dashboards and alerts simplifying time intensive reporting techniques with new data technologies.
  1. It can help detect anomalous events
    • If we have data on what has happened previously, we can increase efficiency by automatically detecting a new event on what is expected.
  1. Diagnose the cause of observed events and behaviour
    • Rather than determining correlation between small number of events, data science techniques help us understand complex systems with many possible causes
  1. Finally, data can predict future events
    • We can use new techniques to take various causes into account and predict potential outcomes.
    • Further we can evaluate the probability of our prediction mathematically to clarify the level of uncertainty.

The data science workflow

  1. Data Collection
  1. Exploration & Visualization
  1. Making Predictions