To some extent “Data Science” can be mixed up with many other similar terms. For example:
- business analytics
- operations research
- business intelligence
- competitive intelligence
- data analysis and modeling
- knowledge extraction (also called knowledge discovery in databases – KDD).
These are all similar and overlapping concepts. However, following can be a formal definition of Data Sceince
Data science is the transformation of data using mathematics and statistics into valuable
insights, decisions, and products.