A data scientist is required to understand a problem, design and analyse, collect and format data, apply techniques to understand and extract information and finally, make evidence based recommendations.
Data science can answer several questions using several techniques:
- A or B? Example: Will this tyre fail in the next 10,000kms? Yes or no.
- Is it weird? Example: Credit card fraud can be detected if shopping habits differ.
- How much, how many? Example: Predictions about temperature.
- How is data organised? Example: Which viewers like the same types of movies
- What should I do next? Example: Self driving car decisions.
Data scientists can be found in various industries, including finance, retail, communication, healthcare, manufacturing, sports and radio astronomy (see here).
A recent insight suggests that “people who can tackle data challenges will be the ones who excel in our information-based economy”.