Data science, put simply, is a practice that provides insight into an organisation’s data and its uses. Put less simply, it uses statistics, analytics, algorithms, artificial intelligence (AI) and scientific methods to extract and extrapolate knowledge and insights for an organisation. This article will provide detailed insight into the processes of data science and how it can help businesses.
How Data Science Works
When you consider the sheer volume of data available to organisations, it seems prudent to have a way of filtering the most valuable data. Data science allows organisations to uncover actionable insights, revealing valuable information from otherwise noisy data.
Data scientists are responsible for carrying out the processes, which consist of data intake, data storage, data processing, data analysis and finally data communication. These processes provide the insights for a business to form strategies and make decisions going forward.
The Processes
Here’s a quick run-down of the stages: data intake sees structured and unstructured data gathered by a data collection company using various methods (manual entry, streaming, etc.). This data is then stored using the appropriate storage systems whilst also facilitating workflow procedures such as analytics or machine learning.
From here, data is cleaned, deduplicated, transformed and combined using integration technologies. Now it is possible to analyse the data for biases, patterns and distributions whilst also opening pathways for a/b testing, machine learning and decision making.
Finally, the data is communicated through reports, providing easily digestible insights for business analysts to speed up the decision-making process. Programming languages such as Python are becoming popular choices for visualising the data. More information can be found on the Real Python website here.
Outcomes
Data science can help provide bespoke analytics, assisting a variety of organisations in making data-driven decisions. You can find data collection company services online that are willing to provide a tailored approach with data science, so a data collection company could help almost any business.
The data science industry is a rapidly growing and changing field with exciting new discoveries happening left and right. It’s worth investigating what else the field can provide going forward and how you can take advantage of it.
