Decoding the Science of Data

Decoding the Science of Data

It has not been many years since we first came2 about this term: Data Science or a data scientist. When, a few years ago, Thomas Davenport and DJ Patil proclaimed Data Scientist as “the sexiest job of the 21st century” in a Harvard Business Review article, did they really mean it? Or was it mere exaggeration?

This era is the era of data. Every field, be it business, science, technology, finance and even the government has loads and loads of data. But it’s of no use unless something substantial can be interpreted from it, something which can help us decide what business strategy is profitable or how many people are being benefited by some specific government policies. And here enters a new domain of study: Data Science.

In fact, Data Science is just like any other branch of Science. Broadly speaking, Data Science is the science of collecting, storing, processing, interpreting and communicating data. It is said, “Necessity is the Mother of all Invention.” And it shall be nothing wrong to say that this statement holds true even in the field of Data Science. As and as the amount of data began growing exponentially, it no more remained manual and man needed technology to draw meaningful insights from huge amount of data. This led to the rise of data science specific programming modules and tools, which use core statistics to draw meaningful conclusions from loads of data within seconds. So, basically data science involves having quite a domain knowledge of statistics and probability along with data science - specific coding skills. Besides, people associated with Data Science must also have enough knowledge in the area of interest or study from which data has been gathered . For example, a data scientist working in the business domain must have enough knowledge in the field of business and finance. Finally, communication skill is a must-have skill for anyone in the data science community.

Data is termed as the new oil and we do need science to collect, refine, process and use this oil. It would be completely wrong to say that data science only helps us draw insights from data because this domain has already opened the doors of new domains like machine learning, deep learning, artificial intelligence and neural networks. So this is just the beginning of the Age Of Data!