What is Data Science?
Everyone is talking about data science. Most organizations are rushing to hire data scientists to sync with the times. What exactly is data science? How does it help your business? What is all the buzz about?
Because we promised this to be a 5-minute-read, without much ado, let’s jump right in. Here goes.
“The problem isn’t finding data, it’s figuring out what to do with it.”
-- Mike Loukides
An interesting Harvard Business Review article tried to find out what data science really is after speaking to 35 data scientists. So data science is a process that helps you drive business success. Jim Gray, a Turing Award-winning computer scientist called ‘data science’ as the fourth paradigm of science (the first three being empirical, theoretical, and computational paradigms).
Data scientists create a data foundation, based on which they conduct data analytics. Driven by the insights they gain from the analytics and several online experiments, they help businesses grow. Data science is used to create Machine Learning pipelines and personalized data products that bring in an understanding of the businesses and the customers, ultimately leading to better decision making.
Data scientists are data and analytics experts who use their skills to derive insights from data, whether it is in the field of technology or social sciences.They use processes, algorithms, scientific methods, and systems to turn information into knowledge by analyzing data. Often, data scientists help solve problems and deal with challenges relating to digital data. Keeping in mind how relevant Big Data is becoming for companies, data science and scientists are definitely here to stay.
The data scientists at Thinking Solution can help you leverage business intelligence and improve all your work processes. Let data science do its magic for your organization NOW! Contact us!
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