Data Science

Data Science

1. What is Data Science?

   • Data Science is the process of using data to extract knowledge and support decision-making.
   • It combines statistics, programming, and domain knowledge.
   • It helps predict future outcomes and identify patterns.

2. What is Data Analytics?

   • Data Analytics focuses on examining data to find insights.
   • It answers questions like what happened and why it happened.
   • It uses tools like graphs, dashboards, and reports.

3. What is Big Data?

   • Big Data refers to extremely large datasets.
   • It is defined by the 3 V's : - Volume (amount of data) - Velocity (speed of data) - Variety (different types of data)
   • It requires advanced tools to process.

4. Relation to the Movies

   • Margin Call
   • The Big Short
   • Both movies show how financial institutions used data to analyze risk.
   • In The Big Short, data analysis helped identify the housing market collapse.
   • In Margin Call, data models revealed a financial crisis before it happened.
   • Data Science is used to: - Predict Risks - Detect Patterns - Support Critical Decisions

5. Crisp-DM Methodology

   • Business Understanding
     • Define the problem
     • Set objectives
     • Understand goals
   • Data Understanding
     • Collect data
     • Explore data
     • Check data quality
   • Data Preparation
     • Clean data
     • Select relevant data
     • Combine datasets
   • Modeling
     • Choose algorithms
     • Build models
     • Test models
   • Evaluation
     • Analyze results
     • Check if goals are met
     • Improve model
   • Deployment
     • Present results
     • Apply solution
     • Monitor performance