Defining “Data Science”

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.

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