Entry for contest 1.A : What is Data Science?

Entry for contest 1.A : What is Data Science?
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Do you know what is Data Science? Our little planet is now becoming a Digital planet and by 2020 we will have 40 times more bytes than there are stars in the universe. Over 90 percent of the data sitting and floating in all possible devices and systems in the world today was simply generated in the last two years alone. These humongous volumes of data – now called Big Data - can mean a lot to businesses and can help gain insights and trends about their users and user behavior. The massive volume of data in both structured and unstructured formats is difficult to process through traditional database modeling and tools. Hence there is a need to use scientific methods, algorithms, and tools to analyze and to make sense out of Big Data and the need for Data Science and Data Analytics.

Data Science is all about creativity. The goal of Data Science is to get insights and trends by analyzing diverse data sets that give a competitive advantage to businesses. Data science is a combination of Mathematics, Statistics, and software with domain expertise in the applied business environment. Another buzz word commonly misinterpreted with Data Science is Business Intelligence (BI). BI is primarily concerned with data analysis and reporting but does not include predictive modeling, so BI can be considered a subset of Data Science. Building predictive models are one of the most important activities in Data Science. Other processes in Data Science are Business Analytics, Data Analytics, Data Mining, and Predictive Analytics. Data Science is also concerned with Data Visualization and presenting results in an understandable format to users.