What is Data Science?
Data science is an interdisciplinary field that seeks to extract knowledge or insights from various forms of data. Data Science integrates existing data analysis fields, such as statistics, data mining, predictive analytics, and information systems. At its core, Data Science aims to discover and extract actionable knowledge from data that can be used to make sound business decisions and predictions. This emerging field influences all sectors of industry and academia - from business to education to health care, from the scientific sector to government, and it is revolutionizing these industries as it continues to grow in both prominence and importance.
Why is it Important?
There is an increasing interest in business to extract information and produce knowledge from the massive amount of data created daily. The availability of “Big Data” allows organizations across industries to leverage data analytics to extract actionable knowledge with a focus on monetizing newly-created insights. Using big data, business analytics unlocks the predictive potential of data analysis to improve financial performance, strategic management, and operational efficiency. Today, Data Science is entering a new era, where information technology is now capable of supporting data-driven business, in real-time.
Every 2 days, we generate as much data as we did from the beginning of time until 2003
Google averages 40,000 search queries a second
Walmart collects more than 20 million filing cabinets' worth of text per hour