Fields related to data science

Question 1

List the subjects that are involved in data science

Answer 1

Data mining, database storage and data processing, data visualization,
-knowledge discovery(KDD), pattern recognition, machine learning,
- neuro-computing, statistics

Question 1

How do computer science, statistics, and business management each contribute to data science?

Answer 1

-CS field is the platform on which to generate and share the data
-Statistics uses data as its backbone and applies numerical techniques to organize and model the data.
-These both maximize the useful information that can be gained from the business management data

Question 2

How do these subjects work together?

Answer 2

They work together to develop the complete analysis mechanism of data science which helps to discover useful information within business data

Question 3

What is business intelligence?

Answer 3

A collection of routines that are used to analyze and deliver the business performance metrics-Taking all the info a business has about itself and turning that into useful insights
-A BI system might track things like sales figures, customer data, or website traffic and present it in a way that’s easy to understand and use to make decisions

Question 4

What is the difference between BI & DS?

Answer 4

-BI focuses on descriptive analysis of underlying data to explain the historical performance of the associated business
-DS is utilized when performing predictive analysis and used to predict future trends or provide evidence that can support strategic plans within associated business

Question 5

What are the benefits of BI

Answer 5

-Data-driven business
-Increased efficiency
-Boost ROI
-Increased competitive advantage
-Improved customer experience