What is Data Science:
Data science is an inter-disciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from many structural and unstructured data. Data science is related to data mining, machine learning and big data.
Data science is a “concept to unify statistics, data analysis and their related methods” in order to “understand and analyze actual phenomena” with data. It uses techniques and theories drawn from many fields within the context of mathematics, statistics, computer science, domain knowledge and information science. Turing award winner Jim Gray imagined data science as a “fourth paradigm” of science (empirical, theoretical, computational and now data-driven) and asserted that “everything about science is changing because of the impact of information technology” and the data deluge.
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What are the job opportunites in Data Science:
Data science experts are needed in virtually every job sector—not just in technology. In fact, the five biggest tech companies—Google, Amazon, Apple, Microsoft, and Facebook—only employ one half of one percent of U.S. employees. However—in order to break into these high-paying, in-demand roles—an advanced education is generally required.
“Data scientists are highly educated–88 percent have at least a master’s degree and 46 percent have PhDs–and while there are notable exceptions, a very strong educational background is usually required to develop the depth of knowledge necessary to be a data scientist,” reports KDnuggets, a leading site on Big Data.
What is the Importance of Data Science:
The importance of data science is based on the ability to take existing data that is not necessarily useful on its own and combine it with other data points to generate insights an organization can use to learn more about its customers and audience.
A data scientist can help with the identification of the key groups with precision, via a thorough analysis of disparate sources of data. With this in-depth knowledge, organizations can tailor services and products to customer groups, and help profit margins flourish.
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