Data science is the field of study that combines domain expertise, programming skills, and knowledge of mathematics and statistics to extract meaningful insights from data.
Data science practitioners apply machine learning algorithms to numbers, text, images, video, audio, and more to produce artificial intelligence (AI) systems to perform tasks that ordinarily require human intelligence.
In turn, these systems generate insights which analysts and business users can translate into tangible business value.
More and more companies are coming to realize the importance of data science, AI, and machine learning. Regardless of industry or size, organizations that wish to remain competitive in the age of big data need to efficiently develop and implement data science capabilities or risk being left behind.
A data science platform is software that includes a variety of technologies for machine learning and other advanced analytics uses. It enables data scientists to plan strategy, uncover actionable insights from data and communicate those insights throughout an enterprise within a single environment.
The term "data science" has been traced back to 1974, when Peter Naur proposed it as an alternative name for computer science. In 1996, the International Federation of Classification Societies became the first conference to specifically feature data science as a topic. this phase data science team needs to develop data sets for training, testing, and production purposes. These data sets enable data scientist to develop analytical method and train it, while holding aside some of data for testing the model.
Software engineers develop and build the software, mobile apps, and operating systems that are used by organizations. Data scientists often develop their software engineering skills to open up new career opportunities, and vice versa with software engineers..
In the healthcare industry, physicians use Data Science to analyze data from wearable trackers to ensure their patients’ well-being and make vital decisions. Data Science also enables hospital managers to reduce waiting time and enhance care. Retailers use Data Science to enhance customer experience and retention.
Data Science is widely used in the banking and finance sectors for fraud detection and personalized financial advice.
Construction companies use Data Science for better decision making by tracking activities, including average time for completing tasks, materials-based expenses, and more. Data Science enables trapping and analyzing massive data from manufacturing processes, which has gone untapped so far.
