Data Science

Data Science

1. What is Data Science?

   • Interdisciplinary field that uses scientific methods, processes, algorithms & systems to extract knowledge and insights from data

2. What is Data Analytics?

   • It is a subset of Data Science focused on analyzing data to identify patterns and trends

3. What is Big Data?

   • Refers to Large and complex datasets that traditional methods have trouble handling

4. CRISP DM Methodology

   • Industry standard process for Data Science projects with 6 phases
     • 1. Business Understanding: Define goals & requirements 2. Data Understanding: Explore & understand data 3. Data Preparation: Clean & prepare data for analysis 4. Modeling (Light Blue): Develop & train models 5. Evaluation: Assess model performance 6. Deployment: Implement model & monitor results

5. Data science relation

   • The Big Short
   • Margin Call
     • Use of data analysis to uncover hidden patterns in financial data
     • Use of data-driven approaches to identify risks