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Data science is one of the most exciting emerging fields. As we will see throughout the course of this article it is increasingly becoming an important part of a company’s future. First, we will explain, in simple terms, how data science works and how it can be applied to unstructured data sets. We will also look at how data science is already is widely in use. From medical research to dynamic pricing and driverless cars, data science is increasingly leading the way.
What is Data Science?
Data science is a term given to the practice of analysing raw data to discover any hidden patterns. Various applications and tools such as machine learning and sophisticated algorithms are all used in this process. Unlike other forms of data analysis, it can be applied to both structured and unstructured data. Data science is a more in-depth, detailed way of analysing data than data analytics.
Put simply data analysts use processing history to explain data.
Data scientists employ exploratory analysis and sophisticated tools to uncover new insights and predict future events. This makes it useful for predictive causal analysis. These are models that predict the possibility of a certain event occurring in the future. It is also useful for prescriptive analytics, intelligent models capable of making their own …
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