What is data science?
Data science is the multidisciplinary approach to unlocking value from datasets through complex analytical problem solving by means of data interference, algorithm development, and various other technologies. At its core, data science is the extraction of knowledge and insight from data. In practice, data science unifies principles from statistics, mathematics, information science, and computer science to solve complex problems.
The term data science is also commonly interchanged with terms like data analytics, business intelligence, predictive modeling, and statistics. In any case, data science is about creatively using and manipulating data to generate value.
Data science is about discovering previously hidden insights and making inferences based on the accumulated evidence. For instance, companies may employ a data mining strategy to identify consumer patterns and user interest in particular products, helping companies make informed decisions. In another example, companies may use data analytics to create time series models to understand current demand and even predict future demand.