Data Science–What’s the big deal about it?


As I already mentioned Data Science is a not a new discipline. A lot of people did advanced analytics, simulations, data mining, machine learning and prediction years ago. It was and is very common in the banking and insurance sector. So let’s have a quick glance at history.

Data Analytics Junkie

image

 

 

 

 

 

 

Thomas Davenport, an American academic and publisher for Harvard Business Review, once said that Data Scientist is “the Sexiest Job of the 21st Century”. But why is there such a big hype and mythos about Data Scientists and Data Science?

The role of the Data Scientist came up with the Big Data area. But it’s not a quite new role in the enterprise business. Before we called them statisticians or subject matter experts. So what makes him now so different and what skills brings a Data Scientist to his role? Drew Conway published a very interesting illustration, called the “Data Science Venn Diagram”:

This diagram explains the 3 major skills a good Data Scientist must have. Interesting is the area where math & statistics knowledge is missing, which is called “Danger Zone!”. So to make it clear, a good…

View original post 507 more words

Advertisements
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: