Date Science, as the name suggests, helps in mining data and extract knowledge from both structured and unstructured data using scientific methods and various algorithms. In short, Data Science helps in mining all kinds of data, machine learning, and related activities.
Data Science works on analyzing statistical data, and other sources to understand the true phenomenon of the data collected. Data Scientists use various techniques and strategies that are drawn from different fields including Mathematics, Information Science, Statistics, Domain Knowledge, etc.
Data is something that can turn the business upside down. Many large scale businesses spend millions to mine data. This data helps them to earn even more in the short-run as well as in the long-run. The collection and analysis of Big Data forces many large scale as well as small scale enterprises to change the model of their businesses according to the data collected.
Various techniques used in the field of Data Science are:Many argue that Data Science is a name of statistics while others say that it is different from statistics. We believe that statistics is a part that makes Data Science as relevant field of study. Without stats, it would not be impossible, but would be too hectic and a tedious task for the Data Scientists to mine data from various sources and analyzing it in the end.