In its purest form, data science is the extraction of actionable insights from massive amounts of raw structured and unstructured corporate data. By making use of artificial intelligence and machine learning, data scientists can create models and make informed predictions through algorithms and other techniques. Then, the outcomes are processed and presented in understandable and actionable ways.
The data science approach to data analysis depends on the industry and the specific business requirements, but generally is focused on two domains.
Data science expertise has innumerable benefits for every business operation – from research and running experiments on company data through to generating reliable demand predictions, delivering exceptional consumer experiences and improving employee engagement.
Data science also relies on collaboration, where all stakeholders (including non-technical staff) must work together. For instance, although data scientists harvest information, they are not necessarily the decision-makers. It takes a holistic approach to ensure that any deep learning activity is properly understood and leveraged.
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