Data Science Strategy For Dummies

Chapter 1

Framing Data Science Strategy

IN THIS CHAPTER

Clarifying the concept of data science

Understanding the fundamentals of a data-driven organization

Putting machine learning in context of data science

Clarifying the components of an effective data science strategy

In this chapter, I aim to sort out the basics of what data science is all about, but I have to warn you that data science is a term that escapes any single complete definition — which, of course, makes data science difficult to understand and apply in an organization. Many articles and publications use the term quite freely, with the assumption that it’s universally understood. Yet, data science — including its methods, goals, and applications — evolves with time and technology and is now far different from what it might have been 25 years ago.

Despite all that, I'm willing to put forward a tentative definition: Data science is the study of where data comes from, what it represents, and how it can be turned into a valuable resource in the creation of business strategies. Data science can be said to be a multidisciplinary field ...