Intro to Data Science Lecture 1: Data Collection

Web data, e-commerce, financial transactions, bank/credit transactions, online trading and purchasing, social network

An elementary description of a reality or fact

Information is obtained by analysis and interpretation of a collection of data

<p>The fact or condition of knowing something with familiarity gained through experience or association</p> Signup and view all the answers

<p>Decision-making is the process of making choices by identifying a decision, gathering information, and assessing alternatives, and data analytic thinking makes decisions based on analysis of data</p> Signup and view all the answers

<p>Make decisions based on analysis of data, enabling informed decision-making</p> Signup and view all the answers

<p>To make more accurate and informed decisions</p> Signup and view all the answers

<p>Classifying patients with high risk and taking preventative action</p> Signup and view all the answers

<p>Manual forecasting difficulty due to the complexity of data</p> Signup and view all the answers

<p>20 PB</p> Signup and view all the answers

<p>The sheer volume of data generated at a rate of 1GB per second</p> Signup and view all the answers

<p>The storage and real-time analysis of the data</p> Signup and view all the answers

<p>Big Data is any data that is expensive to manage and hard to extract value from.</p> Signup and view all the answers

<p>The 3 Vs of Big Data are Volume, Velocity, and Variety.</p> Signup and view all the answers

<p>The challenge is that the size of Big Data makes it hard to store, manage, and analyze.</p> Signup and view all the answers

<p>Some ways to extract value from Big Data include aggregation and statistics, indexing, searching, and querying, reporting, BI, data warehousing, and OLAP.</p> Signup and view all the answers

<p>The term 'big' in Big Data is relative and depends on the context, with 10 terabytes being big for an OLTP system but small for a web search engine.</p> Signup and view all the answers

<p>Some of the challenges of working with Big Data include managing and extracting value from the data, as well as integrating and analyzing the diverse data formats and sources.</p> Signup and view all the answers

<p>Data science is defined as a scientific field that uses scientific methods to extract knowledge and insights from structured and unstructured data.</p> Signup and view all the answers

<p>The three main business drivers for data science are: desire to optimize business operations, desire to identify business risk, and desire to predict new business opportunities.</p> Signup and view all the answers

<p>Data mining is the process of discovering useful patterns and trends in large data sets, and it is closely related to predictive analytics, which extracts information from large datasets to make predictions and estimates about future outcomes.</p> Signup and view all the answers

<p>The key areas of concentration in data science include computer science, mathematics and applied mathematics, statistics, solid programming skills, data mining, database storage and management, and machine learning and discovery.</p> Signup and view all the answers

<p>Companies use data science to learn customers' secrets, shopping patterns, and preferences, and can even predict if a woman is pregnant, even if she doesn't want them to know.</p> Signup and view all the answers

<p>Data science uses statistical modeling and probability to analyze data and make predictions.</p> Signup and view all the answers