What is Data Science?
It is an interdisciplinary field which involves statistics, mathematics, computer science, modeling and analytics to extract knowledge from various data. The practice of data science includes obtaining, exploring, modeling, and interpreting big data.
A term to describe an extremely big volume of data where traditional data mining method may not adequate to process them. There are few aspect to define Big Data, these are called the “big V”.
5V’s + 2V’s properties.
The process of gather the data from different sources
Data Scientist vs Data Analyst
Data scientist: someone who can predict the future based on past patterns.
Data analyst: someone who merely curates meaningful insights from data
Analytics can be classifier into four categories descriptive, diagnostic,
predictive, and prescriptive
1- Descriptive analysis helps to describe a situation and can help to answer questions like What happened?, Who are my customers?, How many people visited the museum last month?
2- Diagnostic analysis helps to understand why things happen and can answer questions like Why did it happen?
3- Predictive analysis is forward looking, and can answer questions like What will happen in the future?
4- Prescriptive analysis prescribes and is more action oriented It helps answer questions like What should we do?, What price should we charge?, or How should I allocate my investments?