What is Data Science?

What is data science?

Data science combines math and statistics, specialized programming, advanced analytics, artificial intelligence (AI) and machine learning with specific subject matter expertise to uncover actionable insights hidden in an organization’s data. These insights can be used to guide decision making and strategic planning.

The accelerating volume of data sources, and subsequently data, has made data science is one of the fastest growing field across every industry. As a result, it is no surprise that the role of the data scientist was dubbed the “sexiest job of the 21st century” by Harvard Business Review. Organizations are increasingly reliant on them to interpret data and provide actionable recommendations to improve business outcomes.

The data science lifecycle involves various roles, tools, and processes, which enables analysts to glean actionable insights. Typically, a data science project undergoes the following stages:

Data ingestion: The lifecycle begins with the data collection—both raw structured and unstructured data from all relevant sources using a variety of methods. These methods can include manual entry, web scraping, and real-time streaming data from systems and devices. Data sources can include structured data, such as customer data, along with unstructured data like log files, video, audio, pictures, the Internet of Things (IoT), social media, and more.

Data storage and data processing: Since data can have different formats and structures, companies need to consider different storage systems based on the type of data that needs to be captured. Data management teams help to set standards around data storage and structure, which facilitate workflows around analytics, machine learning and deep learning models. This stage includes cleaning data, deduplicating, transforming and combining the data using ETL (extract, transform, load) jobs or other data integration technologies. This data preparation is essential for promoting data quality before loading into a data warehouse, data lake, or other repository.

Data analysis: Here, data scientists conduct an exploratory data analysis to examine biases, patterns, ranges, and distributions of values within the data. This data analytics exploration drives hypothesis generation for a/b testing. It also allows analysts to determine the data’s relevance for use within modeling efforts for predictive analytics, machine learning, and/or deep learning. Depending on a model’s accuracy, organizations can become reliant on these insights for business decision making, allowing them to drive more scalability.

Communicate: Finally, insights are presented as reports and other data visualizations that make the insights—and their impact on business—easier for business analysts and other decision-makers to understand. A data science programming language such as R or Python includes components for generating visualizations; alternately, data scientists can use dedicated visualization tools.

Data science versus data scientist

Data science is considered a discipline, while data scientists are the practitioners within that field. Data scientists are not necessarily directly responsible for all the processes involved in the data science lifecycle. For example, data pipelines are typically handled by data engineers—but the data scientist may make recommendations about what sort of data is useful or required. While data scientists can build machine learning models, scaling these efforts at a larger level requires more software engineering skills to optimize a program to run more quickly. As a result, it’s common for a data scientist to partner with machine learning engineers to scale machine learning models.

Data scientist responsibilities can commonly overlap with a data analyst, particularly with exploratory data analysis and data visualization. However, a data scientist’s skillset is typically broader than the average data analyst. Comparatively speaking, data scientist leverage common programming languages, such as R and Python, to conduct more statistical inference and data visualization.

To perform these tasks, data scientists require computer science and pure science skills beyond those of a typical business analyst or data analyst. The data scientist must also understand the specifics of the business, such as automobile manufacturing, eCommerce, or healthcare.

In short, a data scientist must be able to:

Know enough about the business to ask pertinent questions and identify business pain points.
Apply statistics and computer science, along with business acumen, to data analysis.
Use a wide range of tools and techniques for preparing and extracting data—everything from databases and SQL to data mining to data integration methods.
Extract insights from big data using predictive analytics and artificial intelligence (AI), including machine learning models, natural language processing, and deep learning.
Write programs that automate data processing and calculations.
Tell—and illustrate—stories that clearly convey the meaning of results to decision-makers and stakeholders at every level of technical understanding.
Explain how the results can be used to solve business problems.
Collaborate with other data science team members, such as data and business analysts, IT architects, data engineers, and application developers.