Data science is a collection of processes and skills that help extract meaningful data science notes information from large amounts of raw data. It encompasses a variety of tools and techniques, including predictive analytics, artificial Intelligence natural language processing and visualization of data. Its importance is widely recognized within the business world, and its practitioners are in demand.
Data science is used increasing in every industry. In certain instances, it’s central to the operation and strategy of an company. Data science helps businesses create better marketing campaigns and more targeted advertising for their products. It is aiding in managing financial risks by identifying fraudulent transactions and preventing equipment malfunctions in manufacturing facilities and other industrial settings. It is also helping to block cyber attacks as well as other security threats to IT systems.
For example, the algorithms used to monitor customers on social media platforms and on digital billboards are able to determine the patterns of shopping behavior of a person and then use that knowledge to tailor their marketing messages. This improves customer conversion rates which results in a greater ROI for marketers.
In the medical field, the ability to analyze, visualize and interpret huge amounts of patient information has assisted doctors in diagnosing illnesses and develop new treatments more accurately. It also has allowed doctors to perform preventive medicine and investigate the options for treatment more quickly.
However some of the most troubling applications of data science could have grave ethical implications. According to ProPublica, the COMPAS Recidivism Risk score used by law enforcement agencies to predict future crimes could be biased against African-Americans.
