Introduction to Data Science

Study Notes

Data Science has been termed "The Sexiest Job of the 21st Century" by Davenport and Patil.
The rise of data science is largely driven by advancements in technology.
It involves the extraction and analysis of valuable information from data to tackle complex problems.
Data Science integrates various fields, including mathematical modeling, statistical analysis, and data visualization.
It encompasses managing both structured and unstructured data using big data technologies.
The term has evolved alongside advancements in mathematical statistics and data analysis.

Expected global data volume will reach 175 zettabytes by 2025.
Datafication refers to converting aspects of life into data for insight and value generation.
Data Science assists businesses in navigating vast amounts of data to derive meaningful insights.
Utilized in industries like marketing, healthcare, finance, and policy making.

Data is considered the "oil of the modern age" and can provide a competitive advantage when leveraged properly.
Machine learning can aid in fraud detection and help avoid significant financial losses.
Supports the development of intelligent systems and enhances customer sentiment analysis.
Empowers quicker, data-driven decision-making tailored to customer needs.

The substantial influx of data generated necessitates the demand for data scientists.
Companies have harnessed data science to enhance their operations and profitability.
High average salaries reflect the talent shortage and demand for skilled data scientists.

The significance of Data Science is consistently growing, with a market projection of $115 billion by 2023.
Healthcare improvements include disease monitoring systems, notably developed by Google.
Sports analytics employs data science for performance measurement and strategy development.
Government agencies utilize data science for managing social security, taxes, and citizen data.

The Internet serves as a vast source of data, enhancing eCommerce and customer experience tracking.
Data science plays a critical role in targeted advertising for eCommerce companies.
Applications like Tinder and Facebook use algorithms to connect users with relevant content.
The potential for data gathering and analysis on the Internet continues to expand.

Data is the core element of data science, consisting of systematic records of characters, quantities, or symbols.
When organized, data can transform into information used for specific purposes such as surveys or analyses.
Structured data forms the foundation for in-depth statistical analysis and insights.