Data Science 101

DATA SCIENCE 101 

Whatever your job is, you will definitely hear about ‘data’. According to an article published by The Economist in 2017, the world’s most valuable resource is no longer oil but data. But what is data, and why is it so important?

What is data?

Data are the units of real raw information. Data can be obtained by experiments, observations and researches. 

There are 4 types of data: Discrete, Continuous (Interval, Ratio) , Nominal, Ordinal

                                Types of data are explained in picture above. 

Why is data so important?

In today’s digital world, you create data when you purchase goods, browse the web, play games, and the list goes on and on. Basically, you create data with your every move! But that doesn’t explain why it’s so important.

Let me give you an example. Let’s say that I’m going to Starbucks to get myself a latte! When I go to the store, the employee asks me what I want. I tell her that I want a mid-size latte with almond milk. My gender, choice of a drink, customized details, and many can be collected. With each customer coming to the store, the business collects more and more data.

Data Science

In simple words, Data Science is the field of study that combines knowledge of statistics & probability, programming skills, and domain expertise.

“The sexiest job of the 21st century”

In an article published by the Forbes magazine, Data Scientist was referred to be the sexiest job of the 21st century. I totally agree; why? Because they do really cool stuff. Data Scientists use the collected raw data to derive meaningful insights. They make analysis, forecasts and turn these outputs into a model that business users can understand.

While data scientists often come from different educational backgrounds, they all have these in common:

   Math and Statistics Knowledge

   Programming Skills

   Business Knowledge

   Good Verbal and Written Communication Skills

https://medium.economist.com/tagged/data-science

https://medium.economist.com/tagged/data-science

https://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century

https://www.innoarchitech.com/blog/what-is-data-science-does-data-scientist-do