Data Science is the science which uses computer science, statistics and machine learning, visualization and human-computer interactions to collect, clean, integrate, analyze, visualize, interact with data to create data products.
The Components of Data Science
When we amalgamate domain expertise and scientific techniques with technology, we obtain Data Science.
Tasks of Data Scientist
Data scientist is someone who execute the following functions:
- Data analysis
Data Processing and Analytics
Modern tools and technologies have made data processing and analytics faster and cost-effective.
These technologies assist Data Scientists to
- Build and instruct machine learning models
- Employ data with technology
- Build data tools, applications, and services
- Extricate information from data
Data Science Life Cycle
- Business Understanding
- Data Mining
- Data Cleaning
- Data Exploration
- Feature Engineering
- Predictive Modeling
- Data Visualization
Using Data Science—Search Engines
Google uses Data Science to render appropriate search suggestions as the user types a query.
Data Science in Health care
The aim of employing data science in health care is to increase the accuracy and efficiency of diagnostics. With $15 million funding, the startup has built a deep learning algorithm that can read imaging data (such as x-rays, CT scans, etc.), and analyze it, checking the given results against extensive database of clinical reports and laboratory studies. Therefore, the company claims to deliver up to 70 percent more accurate results, 50,000 times faster.
Data Science in Stock Market Prediction
Data Science is a field that extracts significant information from data and aids marketers in discerning the right insights. There are math models that try to predict the market but the real question is about their accuracy. Machine learning algos allow computers to use available data to predict future outcomes and trends. For stocks it uses past performance data to forecast future prices of the stocks at different periods of time.
Data Scientist Job Roles
Not only are Data Scientists responsible for business analytics, they are also involved in building data products and software platforms, along with developing visualizations and machine learning algorithms.