Data science brings together several areas, including statistics, scientific methods, and data analysis to extract value from data.
Data scientists are called data scientists and combine a variety of skills to analyze data collected from the Internet, smartphones, customers, sensors, and other sources.
As modern technology has made it possible to create and store more and more information, the amount of data has grown dramatically. It is estimated that 90% of the world’s data has been generated in the last two years. For example, Facebook users upload 10 million photos every hour.
But that data is often simply stored in databases and data lakes, mostly untouched.
The wealth of data that is collected and stored using these technologies can bring transformative benefits to organizations and societies around the world, but only if we can interpret it. This is where data science comes in.
Data science identifies trends and provides insights that companies can use to make better decisions and create more innovative products and services. Perhaps most importantly, it enables machine learning (ML) models to learn from the vast amounts of data supplied to them, rather than relying heavily on business analysts to see what they can discover from the data. .
Data is at the heart of innovation, but its value depends on the information that data scientists can extract from it and then take action.